Risk will improve the price of gold down Powei

Tuesday (July 6) the central bank of Australia in Asia and the domestic economy to make a positive Ping Gu Qian Jing, market risk tolerance will Shangsheng, another Institute for Supply Management (ISM) announced the non-manufacturing report Fashankechen investors further up on the U.S. economy ease concerns about the dollar. Gold opened the day in 1207, up 1,213 U.S. dollars, the minimum 1189 U.S. dollars, near the end to close at 1192, the day down 15 dollars of gold, down 1.24%.

Fundamentals, the Australian central bank Tuesday kept its benchmark consecutive month interest rates unchanged, given the current market sentiment cautious, Australian central bank's current interest rate level is satisfactory, while the Australian central bank remains bullish on Asia and the domestic economic outlook. U.S. ISM non-manufacturing index continues to fall, ABC consumer confidence index has also dropped, indicating the U.S. economy could face the future adjustment. The European banking sector stress testing results will be announced shortly, 目前 for investors to fully reveal the euro zone banking sector risks in the end how much, 这一 results may inspire the confidence of investors, the short term, will help enhance the risk of Yiyuan. Gold has been pre-hedge assets as the role of debt crisis in Europe is spreading rapidly up the process, reaching a record high 1,264 U.S. dollars / ounce, will upgrade the current risks in the short term will have a negative impact on the gold price, but will affect the medium-term gold bull market risk will require further observation of the correlation with the gold price.

Technically, the price of gold began to Powei down, fell to 1,200 dollars less, and established short-term downward trend in gold. From the graphical view, short-term support level is around 1180, the medium-term support at around 1160, shows that there is still some gold in the recent decline in space. Investors are advised not to do more short-term gold, but rather wait for the market to re-establish the unity of views on the gold assets. If the gold price down to 1160 U.S. dollars, the phenomenon of strong support, and can stabilize, investors buy gold safer here; if 1160 U.S. dollars below the support level is fast, gold down more space will be open, you can see low of 1,120 U.S. dollars / ounce in the vicinity.