The main two factors of the recent market, the first, gold continued the flash of Monday;
Second, hawkish speeches from European, British and central bankers boosted the movement of the euro, the pound and the Canadian dollar.
16:01 Beijing time on Monday afternoon, spot gold breakthrough dropped 18 six-week low to $1236.46, for more than 18000 contract or more than $2 billion in notional value of contracts is caught within a few seconds.
Comex sold 18149 contracts in just one minute, an hour later 2334.
As usual, gold was also a drag on silver, hitting a low of 16.26.
In just a minute, up to 1.85 million ounces of gold sold off, and nominal value up to more than $2.2 billion, according to bloomberg, even a level than the accidental trump was elected President of the United States or the British referendum volume after the unexpected support from the European Union.
A driving force behind the move was not obvious, bloomberg said it may have originated from "fat finger" error, but many doubt, with the collapse of gold is offset by the soaring dollar/yen, the once jumped 0.35% to 111.66, they think it is either the count transaction is either the central bank intervention.
Of such market according to the history to see, if it is error, the gold should quickly recover all losses, and the afternoon to open a big probability wave rise, but if not the central bank is behind the order wrong but some intervention, market outlook will continue to fall now see no soon lost ground, so continue down the probability of large.
Another is, why didn't the dollar fell but gold rose up, and a fall in the dollar, not economic data slip because of the United States itself, but a result of other currencies against the dollar, logic and completely different from before.
So again encounter this kind of market, can from this Angle layout trade.
International spot gold has several times trying to stabilize near 1240, but the counter-offensive cannot always held steady in 1255, this is also one of the typical signal that fell, so we at below 1240 in early trading today to start chasing empty after operation to check surplus for the first time near 1226.
The spot gold resistance is 1237/1247/1260, which is the dividing line between the day, the short and the middle.
Have non-agricultural data released on Friday, if non-agricultural data well, gold fell goal as in I have received the guangdong finance radio in an interview with promising fell below 1240 to 1222 and then is near 1200, approaching to the countless opportunities to do more but in the end the last more than a single below stop, then turn empty now.
If, on the other hand, the off-farm shift is likely to be close to 1,200 but untouchable, then the rebound will begin.
But in the medium term, gold still hopes to rebuild its bottom, but is now down, operating on the pace of the decline.
Current the adverse factors for gold, including commodity gradually recover, the recent international oil prices rebounded, domestic oil prices may go up soon. Domestic commodity futures also rebound, a general rise in global stock markets.
As the risk mood picks up, investors tend to abandon their interest-free assets - gold.
Many political uncertainty in the medium term, however, is still a potential factors rising gold prices, don't forget, before 08 gold really start is first empty down most investors only dare to rebound, rebound, then completely reverse the rebound do cleaning habits of investors out empty.
Second, hawkish speeches from European, British and central bankers boosted the movement of the euro, the pound and the Canadian dollar.
16:01 Beijing time on Monday afternoon, spot gold breakthrough dropped 18 six-week low to $1236.46, for more than 18000 contract or more than $2 billion in notional value of contracts is caught within a few seconds.
Comex sold 18149 contracts in just one minute, an hour later 2334.
As usual, gold was also a drag on silver, hitting a low of 16.26.
In just a minute, up to 1.85 million ounces of gold sold off, and nominal value up to more than $2.2 billion, according to bloomberg, even a level than the accidental trump was elected President of the United States or the British referendum volume after the unexpected support from the European Union.
A driving force behind the move was not obvious, bloomberg said it may have originated from "fat finger" error, but many doubt, with the collapse of gold is offset by the soaring dollar/yen, the once jumped 0.35% to 111.66, they think it is either the count transaction is either the central bank intervention.
Of such market according to the history to see, if it is error, the gold should quickly recover all losses, and the afternoon to open a big probability wave rise, but if not the central bank is behind the order wrong but some intervention, market outlook will continue to fall now see no soon lost ground, so continue down the probability of large.
Another is, why didn't the dollar fell but gold rose up, and a fall in the dollar, not economic data slip because of the United States itself, but a result of other currencies against the dollar, logic and completely different from before.
So again encounter this kind of market, can from this Angle layout trade.
International spot gold has several times trying to stabilize near 1240, but the counter-offensive cannot always held steady in 1255, this is also one of the typical signal that fell, so we at below 1240 in early trading today to start chasing empty after operation to check surplus for the first time near 1226.
The spot gold resistance is 1237/1247/1260, which is the dividing line between the day, the short and the middle.
Have non-agricultural data released on Friday, if non-agricultural data well, gold fell goal as in I have received the guangdong finance radio in an interview with promising fell below 1240 to 1222 and then is near 1200, approaching to the countless opportunities to do more but in the end the last more than a single below stop, then turn empty now.
If, on the other hand, the off-farm shift is likely to be close to 1,200 but untouchable, then the rebound will begin.
But in the medium term, gold still hopes to rebuild its bottom, but is now down, operating on the pace of the decline.
Current the adverse factors for gold, including commodity gradually recover, the recent international oil prices rebounded, domestic oil prices may go up soon. Domestic commodity futures also rebound, a general rise in global stock markets.
As the risk mood picks up, investors tend to abandon their interest-free assets - gold.
Many political uncertainty in the medium term, however, is still a potential factors rising gold prices, don't forget, before 08 gold really start is first empty down most investors only dare to rebound, rebound, then completely reverse the rebound do cleaning habits of investors out empty.