international price of gold is very unexpected performanc

The recent international price of gold is very unexpected performance, early in June to break through $ 1,600 an ounce integer mark, rose to U.S. $ 1,629, and then into the consolidation, the trend for the future, the current market view of considerable differences. Observe the technical indicators, gold prices in the short term pressure on price of 1,635 dollars if we can break through the going up, there is a chance to test $ 1,650.

If the gold price upside failure, facing the downside of a support price is $ 1,600 integer crossing, followed by $ 1,580, 3rd $ 1,550 dollars. June the market there are many uncertainties, it is estimated that the gold will show the situation after the rebound in high-grade finishing wait for the market news.

It is worth noting that the U.S. economic data in the past when the price of gold did not rise much, the single rose $ 60 market because the market staged a short squeeze.

Before the gold rally, gold futures market short positions greatly increased net long positions also reached the international financial tsunami, the lowest since the U.S. employment data than expected news came out, a lot of short to escape the busy open, causing the price of gold is intense jump also broke the transaction in early June a huge amount, which a large proportion of short covering.

This wave of gold down the process since May 3 measured under 1,530 dollars each time a long lower shadow, from observation, downside physical buying strong enough to support force, in addition to hedge funds and institutions legal entity other than the rumors of central bank buying.