Market Reviews of the Previous Day:
During NY session on 13June, dollar fell when suppressed by technical factors. Market turned back to be optimistic toward the expectation of increasing interest rate in the UK. The pound as well as the risk-bearing currencies therefore strengthened.
At the same time,investors' concernof the China'stightening monetary policyis raised when waiting for the releaseof a series of economic data this week. Bearish occurs in the precious metalsmarket.
Key Economic Data and Events:
GMT+8 16:30UK Consumer Price Index (May)
GMT+8 22:30U.S. Retail Sales (May)
GMT+8 22:30U.S. Producer Price Index (May)
GMT+8 22:00U.S. Business Inventories (April)
Gold:
Gold opened at1531.52USD on 13Jun, with intra-day Low at 1511.43USD and intra-day High at1532.90USD, eventually closing at 1516.05USD. Intra-day range of 21.47USD was seen.
We can temporarily determinethe pattern as a wide range oscillation in shortand medium-term.Wide range is located between 1460and 1576USD. Due to the loss of the upward momentum, and the previous suppression of the technical indicators, gold may retreat.
Trading suggestions:
Due to the previous support breaking, investor could consider selling in a small amount. At the downside 1506 USD, the further supports are located at 1472.6 and 1462.
During NY session on 13June, dollar fell when suppressed by technical factors. Market turned back to be optimistic toward the expectation of increasing interest rate in the UK. The pound as well as the risk-bearing currencies therefore strengthened.
June 13, international gold closed lower.Since investors have fewer worries about inflation gradually, the market demand for gold and other precious metals is shrinking. The price of gold continued to fall on this day.
After the announcement of the U.S. for a series of disappointing data, such as the non-farm payrolls recently, Germany, UK, Australia and some other countries all had unsatisfactory performance on their economic data. The economy of Japan after hitting by earthquake is also disappointed. The economic growth of the major global economieshas sloweddown. Investors start to worry that the global economy will have "second depress".At the same time,investors' concernof the China'stightening monetary policyis raised when waiting for the releaseof a series of economic data this week. Bearish occurs in the precious metalsmarket.
Key Economic Data and Events:
GMT+8 16:30UK Consumer Price Index (May)
GMT+8 22:30U.S. Retail Sales (May)
GMT+8 22:30U.S. Producer Price Index (May)
GMT+8 22:00U.S. Business Inventories (April)
Gold:
Gold opened at1531.52USD on 13Jun, with intra-day Low at 1511.43USD and intra-day High at1532.90USD, eventually closing at 1516.05USD. Intra-day range of 21.47USD was seen.
Gold fell on Monday, breaking the key support. When it reaches the partial support at 1506 USD, the further supports are located at 1472.6 and 1462.
The long-term trend of gold is in contradiction with theform of medium-term, and there are many uncertainties. However, before the end of thislong-term uptrend, wecanmaintainthe idea of bullishin long-term.We can temporarily determinethe pattern as a wide range oscillation in shortand medium-term.Wide range is located between 1460and 1576USD. Due to the loss of the upward momentum, and the previous suppression of the technical indicators, gold may retreat.
Trading suggestions:
Due to the previous support breaking, investor could consider selling in a small amount. At the downside 1506 USD, the further supports are located at 1472.6 and 1462.
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