Market Reviews of the Previous Day:
The euro�fell�against the dollar. Thespeech of German�official�casted�doubtson�assistance program�for Greece, while�the technical�trend limited�the volatility of�the euro.�Currently the marketis waiting for�Bernanke's�speech and the�meeting of EuropeanCentral Bank�policy.Dollar index fell below the first support�of�74.17.�Please note the continuityof its downward trend.
GMT+8 12:30AustraliaFed�announces�decision on interest rates
GMT+8 15:15Swiss�consumer price index�(May)
GMT+8 17:00 Eurozone�retail sales(April)
GMT+8 18:00 German�manufacturing orders(April)
Gold
Technically, gold is�still supported by the lowerMA.�Gold�is expected�to�graduallycontinue to�move along the�upper range.
The long-term trend�of gold�is in contradiction�with theform of�medium-term,�and there are many uncertainties. However, before the end of the long-term upward trend, wecould maintainthe idea of�bullishin long-term.
We could�determinethe pattern as a wide range oscillation in shortand medium-term.Wide�range�is located between�1460and1576U.S. dollars.
Trading suggestions:
Investors can hold reasonably the gold buyingatthesupport�level last week. The pressure�is located between 1554�and�1570.�Gold is still�considered�in a large�range of�fluctuation.Investor with short position could consider the range trading in the above situation.
The euro�fell�against the dollar. Thespeech of German�official�casted�doubtson�assistance program�for Greece, while�the technical�trend limited�the volatility of�the euro.�Currently the marketis waiting for�Bernanke's�speech and the�meeting of EuropeanCentral Bank�policy.Dollar index fell below the first support�of�74.17.�Please note the continuityof its downward trend.
June 6,�international gold�closed in rising. Since�the disclose of the data last week, including the U.S.�employmentand the real estate marketdownturn,�the U.S. economy�continued to slow down�the pace of recovery.�Hedge�funds will continue to�flow into�the gold market, but�the dollar index�against rose�about 0.3%on that day, so that�theincrease ofgold price�was limited.
Key Economic Data and Events:GMT+8 12:30AustraliaFed�announces�decision on interest rates
GMT+8 15:15Swiss�consumer price index�(May)
GMT+8 17:00 Eurozone�retail sales(April)
GMT+8 18:00 German�manufacturing orders(April)
Gold
Gold opened at 1541.75USD on 6Jun, with intra-day Low at1540.90USD and intra-day High at 1553.57USD, eventually closing at 1544.85USD. Intra-day range of12.67USD was seen.
The price soared and then rebounded, and it fell in the uprising range between 17 May and 2 June.Technically, gold is�still supported by the lowerMA.�Gold�is expected�to�graduallycontinue to�move along the�upper range.
The long-term trend�of gold�is in contradiction�with theform of�medium-term,�and there are many uncertainties. However, before the end of the long-term upward trend, wecould maintainthe idea of�bullishin long-term.
We could�determinethe pattern as a wide range oscillation in shortand medium-term.Wide�range�is located between�1460and1576U.S. dollars.
Trading suggestions:
Investors can hold reasonably the gold buyingatthesupport�level last week. The pressure�is located between 1554�and�1570.�Gold is still�considered�in a large�range of�fluctuation.Investor with short position could consider the range trading in the above situation.
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