Aug. 22nd gold price trend analysis
International gold kept declining, broke 1280 and touched 1273, market bearish has been released during this single day. Till the end of U.S. trading time, gold started to rebound. Today’s Asian trading time, gold rebounded slightly, currently closed at about 1278USD/oz.
U.S. data released last night continues to do well, which make the market worries about the possibility of Fed’s raising interest rates sooner than expected. That also boost U.S. dollar index stabled above 82. Gold on the other hand, pressed by that data and kept arranging. Currently gold daily chart slow down the pace of declining after a big slump. MACD main and signal is going smooth, trading positions during wave band would be a good decision.