Posted 5 years ago on Oct. 30, 2014, 3:53 a.m. EST by goldhj
This content is user submitted and not an official statement
International gold price yesterday suffered a slump, volatilized to a bout 1223 in Europe trading time, broke 1220 and dropt all the way down to about 1210 very quick in U.S. trading time and started basing. In today’s Asia trading time, gold rebounded slightly, currently basing around 1214.
Fed’s October interest rate decision and ended QE created a positive attitude for the economy and job market. The statement also favored the hawk faction and omitted the weak oversea economy, which boost USDX raised sharply up to above 86, also pressed gold. Currently gold daily chart price is still not stabled after this slump, MACD signal and main line merged and drove away from the zero axis, increasing the pressure of short. Trading short in intraday trading would be a wise choice.