Last Friday all the data frequently heavy burst, rapid forex moves, long and short back and forth movement of the gold trend has maintained upward curve shocks, U.S. payrolls data due to factors conducive to good gold, eventually closing up 1.56%, kept the MA5 Line 1130 U.S. dollars / ounce mark. Spot gold Monday (March 8) morning Asian market slightly higher, to 1,135 U.S. dollars / ounce in the vicinity. Curve is still a strong rebound in gold this week, while high interest money will be sought after by the market.
Gold last week, last week's rally to maintain momentum
Things in Greece under the influence of the risk of gold continued to remain high, euro and sterling slump triggered a capital risk aversion, which is a severe shock to the maintenance of a strong prime reason. Greece is expected to begin next week because of the risk caused by market fluctuations do with Greece will continue to introduce measures to gradually subside. Furthermore, most of the data released last week, or less than expected U.S. payrolls data on Friday in particular, the overall performance of the weak, the Fed officials have been cool to the U.S. interest rate increase also means the negative trend, making gold supported. Although the gold in the U.S. non-farm payrolls fell under positive pressure, but the overall trend of gold from the view, the gradual restoration of confidence in long, technical buying to push gold to stabilize and confirmed 1,043 U.S. dollars / ounce bottom, the four central banks raise interest rates than Australia and the Federal Reserve others are unchanged, the impact of this factor on the gold should not be ignored.
Influx of gold higher hedge funds
Finance Market turbulence, European currencies have fallen sharply, the dollar index could rise further to look forward to. A large number of hedge funds pouring into commodities, base metals prices and crude oil prices rose across the board last week, once the international spot gold is 1145 U.S. dollars on the red / ounce first-line resistance. Many times the domestic price of gold measured on 250 yuan / g resistance.
From the fundamentals perspective, the United States in February non-farm payrolls and the unemployment rate shows that the U.S. job market continued to improve, support for the U.S. economy continues to consolidate the recovery in the market for an expansionary monetary policy the Fed will return to normal and the early rate hike continued temperature, supporting the dollar index high order. Short-term dollar gains strength, or will limit the price of gold.
Large print money to dollar Faber noted that the rate of increase in the number of gold can not be like printing money as fast as the speed. The large number of Print Depreciation of the dollar will eventually make money.
He added that the dollar is not the way down, because the euro and other currencies at present the situation is even worse than the dollar. However, once the final the United States began large print bills, then the dollar will depreciate.
Faber also said he believed that Greece will be the European Central Bank provided indirect assistance, but aid will not succeed. He also believes that other European countries such as Spain and Portugal, and ultimately in need of rescue, resulting in increased demand for cash in Europe.
Some analysts said that if the price of gold above Shouwen 1135 U.S. dollars, U.S. dollars are expected to rise to 1150-1162. 1150 U.S. dollars is the nearest whole number, also fell near the wave Feibonaqi 61.8% pullback, while 1162 U.S. dollars in January is the high point. The prime brokerage GoldCoreLtd. The latest technical analysis shows that U.S. dollar, euro and sterling-denominated gold price rally showed continued strong demand, prices would be increased to 1226.56 U.S. dollars record / ounce.
Today gold trend analysis: resistance: 11381142114611571162 support level: 112311181112/1110. Objectives continue to hold 11,081,113, short-term objectives 1172 days: bargain do more ,1123 - 1126 in the vicinity to do more, stop 1118, the target 113 811 421 146. Blocked-speed line on line 2 / 3 and 50% of the resonance position blocked down. Price run average above average tend to bond, under the support: 11201112K line up, up above the resistance 114 211 461 162 Index. I am China Crafts Suppliers writer, reports some information about shoe storage plastic , corrugated carton box.
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