Analysis of gold prices today – Aug 2

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Analysis of gold prices today – Aug 2

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Analysis of gold prices today – Aug 2

Gold markets fell during the session on Wednesday as could not the Fed to show any signs of easing. Since the gold market is mostly hedge against inflation, when the traders in the market think that the easy money is coming, they will buy gold Kthuwayt against inflation.

By looking at the gold market, we simply look ready to retreat to the area of consolidation, which we were previously. During the past two months, we saw the market jump in level between $ 1540 and 1640 $.

Sure that the market appears ready to continue in this range during the short term, and until we get the kind of great convenience, there is little chance to break through this range. For this reason, we now begin to play in the gold markets are more governed by the scope of Ktdaol more than anything else. We are now in the development of ascending the long term, but currently hold in the range of $ 100.

Meeting with the European Central Bank due later in the day, it is likely to see strong facilitation of that region, but in order to move the gold markets are strong, we will need to see the Federal Reserve Bank to enter into a policy to facilitate the financial as well. There is some talk that the meeting “Jackson Hole” during the month of September may be the place to start when the Fed talking about adding more liquidity in the markets.

For this reason, we will monitor the employment figures in the United States on Friday, with particular interest. Could raise the numbers, “John” weak value of gold to very high levels where traders will begin to view more free money from the Fed.

However, when we assume to prove the contrary, that this range will stand up and therefore we will buy from the bottom and sell at the top. This was profitable on an ongoing basis during the summer, and it seems likely that we have some additional few weeks of this.

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