This week international gold opened at 1268.67USD/oz. high at 1271.83USD/oz. low at 1227.20USD/oz, closed at 1228.10USD/oz, weekly declining 40.20USD, declining ratio 2.17%.

Gold this week kept declining. Stimulated by non-farming payroll at the beginning of this week, gold rebounded to 1271 and the kept declining all the way to about 1250 after broke 1265, then declined to 1240, gold price hit a new low after the increasing expectation of Fed’s raising interest rate.

This week’s U.S. retail sales and CCI kept good, Euro zone industrial output and inflation is tend to stable, these all weaken gold’s function of risk-averse abilities and hedging capabilities. Added by the improvement of Russia-Ukraine relationship and continuous humanitarian assistance that has been delivered to eastern Ukraine, gold encountered heavy selling pressure. The incoming Fed policy meeting will press gold to decline further.