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Forum Post: gold jinyu Nov. 11th precious metal/commodity (gold) price trend analysis

Posted 2 years ago on Nov. 11, 2014, 2:34 a.m. EST by goldhj (7)
This content is user submitted and not an official statement

International gold price dropt from a high point last trading day. After lost 1170, price went down to about 1150, market bearish mood pressured gold fell back to below 1160. In today’s Asia trading time, gold rebounded slightly, currently closed at about 1155. U.S. October job market conditions index is better than expected, previous value is revised to 2.5 to 4, which indicates that job market is stabilized and improving, boost USDX rebounded massively, gold on the other hand under pressure and went downside. Currently gold daily chart price has dropt to about 1150 and testing that support. trading short during intraday trading seems to be a good choice.

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