Aug. 11th gold price trend analysis

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International gold price dropt from a high point last trading day, once breached 1310 and climbed to about 1320 during the day, then volatilized and went downside, declined to about 1310 again during the night. Today’s Asian early trading, gold price dropt slightly, and arranged itself at about 1306.

As for information, no big news so far this week. Situation in Iraq is stabilized at a certain degree after U.S. air raid against Iraq insurgents. Temporal humanitarian truce is achieved in eastern Ukraine. Thus gold price dropt sharply. Due to the fading mood of avoiding risks, the raise of gold price is under a lot of pressure. Currently gold daily chart is arranging, MA line is mainly going smooth and volatilizing, 1300 downside support line is yet to be strengthen.

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