Forum Post: gold jinyu Nov. 3rd precious metal (gold) price trend analysis
Posted 9 years ago on Nov. 3, 2014, 2:31 a.m. EST by goldhj
(7)
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International gold price suffered a slump last trading day, approached 1160 after broke 1200, market now is bear and gold keeps weak, in today’s Asia trading time, gold rebounded from 1161, currently closed at 1168. U.S. September annualized core PCE is as good as expected, besides October Chicago PMI and Michigan university CCI are very strong. USDX enjoyed a raise and breached 87, gold on the other hand, went downside. Currently gold daily chart price is correcting after this big slump, MACD is moving towards downside, under this circumstances, short positions would be a wise choice.
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