Aug.29th gold price analysis *LINK*

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International gold price yesterday volatilized and went upside, safe-haven buying helped gold breached 1290USD/oz once, but as the increase of resistance pressure, gold dropt from high during the night; In today’s Asian early trading time, gold dropt slightly, currently closed at about 1288USD/oz.

As for regional situation, the rumor of Russia army’s entering Ukraine caused a safe-haven buying, temporarily helped gold price to raise. Then Russian Defense Ministry denied this rumor. U.S. second quarter revised real GDP (annualized quarter rate) is better than expected, which boost U.S. dollar index and press gold. Currently gold daily chart gold price keeps rebounding, 1295 forms a strong resistant line and 1285 provides support, gold price is basing sideway, band operation would be a good choice.

http://www.hj9999.com/trading-guideline/trend-analysis/

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