China's poor economic data, investors in the global economic growth prospects concerns, high-interest currency under pressure, gold this" pseudo hedge" assets also cannot escape by luck, spot gold eventually down slightly.
Thursday ( October 13th) described the trend:
China's poor economic data,Water
slide investors in the global economic growth prospects
concerns, high-interest currency under pressure, gold this" pseudo
hedge" assets also cannot escape by luck, spot gold eventually down
slightly.
K-japanese chart display, the spot gold closed today with a line
under the shadow of small line. Asia time early, spot gold high
sideways; Asia time after time to New York in early trading, spot
gold concussion; after New York time, spot gold bottom pick-up.
Spot gold highest hit 1684 U.S. dollars / ounce, dropping to the
lowest 1653.30 dollars / ounce, closed at 1667.30 U.S. dollars /
ounce, on a trading day to close at 1676.70 U.S. dollars / ounce,
down 9.40 U.S. dollars / ounce, or 0.56%.
Fundamentals of bad factors:
In 1 the United States Department of Commerce ( DOC ) Thursday
released data show, the United States of America August trade
deficit from the revised $45630000000 down to $45610000000, less
than economists had expected $45800000000.
2 American Labor Department data released Thursday show, the United
States of America October 8th week jobless claims dropped by 1000,
to 404000, is expected to be 405000.
The 3 China Customs data released Thursday showed China,
September trade balance surplus of $14510000000, the market
expected value of a surplus of $16300000000, the trade surplus of
$17760000000 in August. China's September exports grew 17.1%,
growth rate lower than last month's 24.5%, the expected value of
rise 20.7%; imports in September year-on-year growth of 20.9%, the
growth rate is also lower than last month's 30.2%, the expected
value of growth 24.5%.
The 4 Parliament of Slovakia earlier Thursday in the second round
of voting by EFSF expansion motion, so far, the eurozone 17 country
have been through the bill, EFSF work paved the way.
Basic positive factors:
In 1 Fitch will be Bank of America, Goldman, Morgan Stanley, Credit
Suisse, Deutsche Bank rating on negative watch, the French Paris
bank,Plastic
wood Credit Agricole, France big rating on negative watch
list.
Technical analysis of pattern:
K-japanese chart display, the spot gold closed today with a line
under the shadow of small line. The technology on the surface, spot
gold daily resistance at high in September 23rd 1754.80 dollars /
ounce and 1700 U.S. dollars / ounce mark integer; support at 1600
U.S. dollars / ounce mark integer and 1500 U.S. dollars / ounce
mark integer.
Outlook:
French Paris bank will be the four quarter gold price forecast is
lowered from 2170 to 1730; 2012 gold price forecast is lowered from
2080 to 1950;Playground
equipment 2013 gold price forecast is lowered from 2200 to
2125.
Friday focus
Japan September domestic enterprise commodity price index
In September China Industrial producer price index
China September consumer price index
The euro rose 8 after the transfer of trade account
In September the euro zone and the consumer price index.
The United States of America September retail sales
The United States in October University of Michigan consumer
confidence index value
The United States of America August business inventory
