Gold price technical analysis 5 – June, 2013 — the pair of gold / U.S. dollar yesterday’s session closed at a level lower than the opening price, but remained within the deliberative range of the last four days . Gold prices dropped against the U.S. dollar after that, “said Esther George,” Fed Chairman in Kensas City, and is one of the members who have the right to vote in the Market Committee FOMC: “I support slow the pace of asset purchases being the next step is suitable for fiscal policy . ”
A number of Fed officials in recent weeks that they can begin to reduce the asset purchase program in a short period may be during the next Fed meeting if the expectations of labor market conditions are improving as expected.A number of Fed officials in recent weeks, said that ,they can begin to reduce the asset purchase program in a short period may be during the next Fed meeting if the expectations of labor market conditions are improving as expected.Gold market back and forth in a narrow range recently, but it had a motivation to rise up. But gold price did not find any support to made it rise.
If the downward movement, took control of the gold price and hacked below the level of 1387, it is possible to be support Mugodas at $ 1377, 1372.50 and 1360 USD/Pince of gold. Today’s announcement will be of significant economic reports from the United States, such as the PMI index for the ISM Non-Manufacturing, factory orders and others in the report and non-farm sectors, functions, and thus can expect some volatility in the market. In the meantime, I will monitor the USD / JPY as well.