Forum Post: gold jinyu Oct. 6th gold price trend analysis
Posted 9 years ago on Oct. 6, 2014, 2:13 a.m. EST by goldhj
(7)
This content is user submitted and not an official statement
International gold price slumped last trading day, broke 1200 during U.S. trading time and went all the way down to 1190, market bearish controls the market, gold keeps weak. Today’s Asian trading time gold hit a new low then rebounded slightly and based around 1187USD/oz. US Non-farm Payrolls released a few days ago was much better than expected and boost USDX hit a new record(86.75), gold on the other hand received a huge pressure and dropt all the way down to about 1180. The strong non-farm payrolls indicates that U.S. economy is getting better. The approaching of interest rate raising still threatens gold. Currently gold daily chart fall below 1190 and started basing, multiple weak data makes gold harder to rebound. The pressure comes from 1193, support from 1183.
Maybe the gov is getting ready to force everyone to sell it to them again lol.
LOL, who knows, gov always try to get someth out of us.
That would be a return to the gold standard. The price of gold would be fixed by the standard the government set, like it was by FDR.
The gold standard, as we all know, was overthrown by Nixon in 1971.
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