International gold corrected itself in a low price, dropt from high after last night’s rise. At the end of U.S. trading time price closed at 1276, In today’s Asian trading time, gold rise slightly, currently closed around 1278.

Although annualized U.S. July Housing Starts is not as good as expected, it is in an overall stable situation, which keeps support U.S. dollar index moving at high a level. Gold, on the other hand, is pressed and moving under 1280. Currently gold daily chart, good keeps correcting itself after it received a dropping line yesterday, upside 1284 resistant line is very strong, but rely on the 1276 support line, trading positions during wave band would be a good choice.

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