International gold price last trading day volatilized at a low level, declined after approached 1283 that night, then arranged around 1280 at the end of U.S. trading time; today’s Asian trading, gold opened at a low price, currently closed at about 1278USD/oz.
In global central bank conference hold last Friday, Fed Chairman Janet Yellen continued her wording in meeting minutes, emphasized that Fed is considering raise the interest rate expectation, thus U.S. dollar index keeps bullish, and pressed gold. Currently after a temporarily raise, gold daily chart slowed down the pace of declining, gold will volatile and arrange around 1280.

This week International LLG opened at 1303.30USD/oz, highest at 1304.10USD/oz, lowest at 1272.88USD/oz, closed at 1280.03USD/oz, weekly declining is 24.67USD, declining ratio is 1.89%. Gold dropt sharply this week, the price dropt to 1303 after the slight rebound at the beginning of this week, then broke 1300 and touched 1296. MA line diverged after that, and made it hard for gold to rebound. Under the pressure of the wording of Fed hawks in meeting minutes, gold kept declining, broke both 1290 and 1280, stopped till 1273 and started to rebound, arranged around 1280 at the weekend.
This week U.S. data is strong, initial jobless claim and Housing Starts are strong, which press gold keeps declining. Added by relatively clear regional situation, gold cannot get enough support and acting weak under Fed’s tightening expectations.