Jul. 30th gold price trend analysis (gold jinyu)
Jul. 30th gold price trend analysis
International gold price dropt from high yesterday, reached 1310 again during night and then volatilized and went downside, broke 1300 and touched 1296USD/oz. , the broken of 1300 support line indicates that gold is relatively weak. Today’s Asian early trading gold arranged itself and currently closed at 1299USD/oz.
As for data, U.S. May big cities index of house prices released yesterday evening was better than expected, and Conference Board's consumer confidence index of July reached a high point. These data boost U.S. dollar index kept strong and approached annual high point, which pressed gold went downside below 1300. Currently gold daily chart keep volatizing around 1300, MACD green bar went smooth made gold weak, the tendency of declining is yet exist, trading short positions when price rebounded would be a good choice.