Precious metals: gold prices continue to be steady at $1260 / ounce

发布日期:2017-08-02

Week hardware price has been hovering around $1265 / ounce so far, after Wednesday's test of $1260 / ounce, gradually stabilized, at 1.260-1270 U.S. dollars / ounce to form a low shock range
The $1260 / ounce is the key resistance, until mid April in the promotion of risk aversion is an effective breakthrough, hold that level means that the previous upward breakthrough is still valid. The current short-term resistance will focus on 1270 U.S. dollars / ounce, if we can break through the level, will mean the end of nearly 2 weeks of withdrawal, and is expected to re look at the above 1290 resistance.
The recent market sentiment has improved, especially North Korea not what the new bad news to stimulate risk aversion, which makes short-term retracement, but the weakness of the dollar also provided support for the gold price, limit the downside. If the dollar will continue to weaken, the gold price is still higher.
The fundamentals, Trump this week announced a tax reform policy, but has not been able to satisfy markets, after the publication of the draft tax reform policy, the short term is unlikely to have the new dollar policy information, difficult to obtain support. While the Fed rate hike, the market seems to be also expected to raise interest rates in June, which also dragged down the dollar.