Jul. 22nd gold price trend analysis
(GMT+8) International gold price dropt from high yesterday, once dropt to about 1310 before it stabilized last night. Market price fluctuation is limited because of its self correction. Under that situation, whether the price would drop again or climb up is not clear; during today’s Asian early trading, gold price rebounded a little, currently closed at about 1313USD/oz.
Due to the complicated situation of Ukraine, and the thread of sanction by Europe-US to Russia, which tend to stabilize Ukraine, the mood of avoiding risks seems hard to disperse, gold price stabilized at above 1300. However multiple times of drop from high indicate technically market correction is still under pressure. Additionally, U.S. job market is improving, the pressure of rebound is heavy by the end of QE.