Gold The same pattern with oscillated on high pace

Market Reviews of the Previous Day:
During NY session on 16 August, USD mixed against major currencies. Foreign exchange market is still turbulence that's why increased the demand of hedging fund.
The meeting of Germany and France leaders had no substantial results. Both of the two leaders state that the introduction of common euro-zone bonds will not help to resolve the crisis and there is no need to expand the euro area's rescue fund size. Market is expected the debt crisis and the EU's concerns about the global economic recovery may continue to inhibit the rebound of the euro in short-term market.
The whole structure of the foreign exchange market continued the previous big technology trends. There are still many uncertainties. Wide range of recent shocks repeatedly maintained.

International Gold closed at high pace on 16 Aug, The euro zone and overall economic conditions prompted investors to sell commodities and fixed income products to buy gold. But the market thinks that the price of gold has reached the level of speculative bubbles produced. Investors in the asset allocation should be wary of holding large positions in precious metals.

Key Economic Data and Events:
GMT+8 16:30 Bank of England announced meeting on August 4;
GMT+8 16:30 British unemployment rate before the value of 4.7% (July);
GMT+8 16:45 Eurozone consumer price index (June);
GMT+8 20:30 U.S. July producer price index value of -0.4% / month, 7.0% /year;
Gold:
Gold opened at 1765.68 USD on 16 August, with intra-day Low at 1761.00 USD and intra-day High at 1787.00USD, eventually closing at 1785.95 USD. Intra-day range of 26 USD was seen.
The market is continued with the demand of the technical rhythm. The price is oscillated in high pace on Tuesday with not enough power on short term. After the energy of moving upward is consumed, it will go into an adjustment stage.

At present, the movement of upward will not continue. If the price needs to be going upwards, it needs to be adjustment within 1 to 2 months.
The trend in short-term will make the pace of gold into adjustment on high level. The upstream channel is expected to support around 1720-1715 from thebeginning of July.

There will be a new high when gold is adjusted in the major restructuring cycle.
Trading suggestions:
To maintained recently suggestion. The Price of gold will be moved in the wide range of 1720-1814, trading can be made in short term.