Jeweler expects gold prices will continue to fall
Stocks recently remarkable performance, the three major indexes rose again full, the S & P 500 index rose to 2000 points intraday integer off, indicating that the current market has been heating up in risk appetite, while gold and silver become the cause of weaker shocks one. Reuters quoted Fed officials said, because of the economy gradually revealed signs of improvement, the Fed worried about growing too long to maintain low interest rates, which makes the officials on the wording of the Fed's policy statement generated a heated debate. Fed fastest possible in September after the FOMC statement on the revised wording, the Fed had abandoned the policy wording has been used to maintain low interest rates in the key part.
The dollar index this week, breaking the highest level since September 2013, in the context of relatively stable employment situation, skyrocketing stocks, the dollar seemed to be ahead of overdraft strong economic vitality of the United States, Wall Street bigwigs Soros crazy buying 11,290,000 copies ETF SPDR S & P 500 index put option to hold the S & P 500 index of short positions, the end of the first quarter, compared with growth of more than six-fold, to $ 2.2 billion. Rising dollar, seems to have been close to the bottleneck.
U.S. economic data released this week showed stronger than the American investment bank raised its GDP forecast. Data show that in August the United States than-expected increase in consumer confidence index, rose to the highest since October 2007, because consumer confidence in the economic situation of the enhancement. In addition, the Commerce Department released data show that in July durable goods orders rose 22.6% from the previous month, an increase of record.
Russia and Ukraine, although once the two leaders to sit down and negotiate, but no signs of easing relations between the two countries. From both sides of the fundamental differences of view, with a strong desire to join the European Union in Ukraine, as soon as the trip to the Russian economy will be adversely affected by the euro zone more supplies to make Russia's foreign trade suffered large losses transit through Ukraine, so Russia and Ukraine contradictions began to rise from the political level to the economic dimension.
The United States, traders said gold prices lower in status to attract buying from jewelers in Asia, but the scale is limited. Data released on Monday showed net gold exports to Hong Kong, China Mainland in July fell to 22.107 tons, in June to 40.543 tons, the lowest for three years, mainly due to ample supply, and jewelers are still waiting for further decline after bargain buy the opportunity. 2013 China to overtake India as the largest gold consumer, but the import data in July showed slowing Chinese demand for gold.
Whether the Fed meeting minutes or Yellen's speech, all of the gold bear a significant positive, but the impact has been fully reflected in the price of being, which means gold may rebound. The disk, into a tangle of long and short gold, despite downward pressure after the break below support position not lifted, but the line back $ 1,285 or so the situation has become more complex. Given the demand for technical correction and the market sentiment driven by fundamentals, gold or expand a wave of short-term rally.