gold jinyu Oct. 16th gold price trend analysis

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International gold price surged up few hours before, rise from 1221, the rise was almost 30USD, and even climbed to about 1249 in U.S. trading time, market bullish is very strong, in today’s Asia trading time gold dropped slightly and based around 1240.

U.S. September retail sales and factory price PPI was weak, dragged USDX diving about 100 points, this also boost gold to breach 1240. In addition, the stock markets keeps weak, declining treasury yields. Gold currently made another winning streak, gold daily chart keeps fluctuating and climbing up, trading long positions after MACD heavy volume.

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gold jinyu Oct. 16th gold price trend analysis

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