The price of gold in last week's
trading is good-good. The rise in gold prices supported by the delayed US rate
hike at the FOMC meeting.
Besides the increase in gold prices
is a market response to the lowered forecast US GDP as the shape of the Fed
worries about the future of the global economy, especially the economic chaos
in the Eurozone and China.
This week there is no economic data
is crucial to the sustainability of the increase in the price of gold, so that
according to our research team potential impulse wave will most likely end
followed by profit taking in the market as a form of trading patterns are
common.
Our team view and analyze the gold
price increase could end when the LTRO or Long Term Re-financing Operations
central bank EU, ECB, issued stimulus funds that are smaller than the previous
period amounted to € 18 billion, but when the stimulus package amount is the same
as the previous period, the impulse wave gold can still continue.
Thus, the market can also search for
a starting point or focus of the gold price movement is at DGO US economic data
later in the week.
Durable Goods Orders / DGO US will
be released by the US Commerce Department to estimates based on our team that
the condition of the US durable goods orders will be a slight decline in this
period. This is caused by a number of US transportation orders were reported to
have decreased, so that the potential of the US GDP growth will be restrained
and made the dollar index will also be under pressure, can be read with a
rising gold price.