Mark Long Ultimate PK Win Gold Price Fell?

- May 09, 2017-

French middle school candidate Mark Long in Sunday (May 7) in the final PK to win, becoming the youngest president of France. After the results of the French election came out, the market reaction is relatively stable. Spot gold suffered a $ 300 million selling pressure, fell to 1220 US dollars / ounce mark, then quickly rebound.

 

Mark Long won the final PK in Sunday, becoming the youngest president of France, the French election "Black Swan" did not take off. After the results of the French election came out, the spot gold suffered 300 million US dollars selling pressure to suppress, then quickly rebound. Market participants said the election results are expected, the market has largely digested this expectation, so the market reaction is relatively calm.

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Sunday's French election results are not too much suspense, the election of the independent candidate Mark Long more favorable, and this expectation has been included in the current gold price, so Mark Long won the gold price is not much of the fluctuations.

 

US stocks closed higher on Friday, also rose slightly this week. Apple's early record highs helped lift the Dow Jones Industrial Average. Trading is limited to the narrow, showing a few things, first, last week the stock market has risen 2%, second, the stock market is close to the historical highs, the third quarter of the end of the quarter, investors have been transferred to the overall economy The The Dow Jones Industrial Average closed 55.47 points or 0.26% higher at 21006.94. The Nasdaq index closed up 25.42 points or 0.42% to 6100.76. S & P500 index closed up 9.77 points or 0.41% to 2399.29. The Philadelphia Semiconductor Index closed up 4.20 points or 0.42% to 1011.03.

 

US non-farm jobs rose better than expected in April, coupled with oil prices rebound led the energy stocks rose, US stocks fell on Friday after the first rise, the Dow closed up 55 points, at 21,006 points, both the Nasdaq and the index finger burst, respectively, to close at 6,100 points and 2,399 points, the Nasdaq is the third time last week to break the new market, the three major indices were recorded for three consecutive weeks of gains. However, the EPFR data show that the SPDR S & P 500 Index Exchange Fund (ETF) has spent $ 6.4 billion on the week ended last week, the highest since June last year, and the global bond fund, as of May 3 Of the $ 9.7 billion a week, and a total of $ 140 billion in inflows during the year.

 

Analysts pointed out that the risk sentiment is still unfavorable to gold, in the past few weeks after the downturn is still selling some people surprised. However, this is clearly not normal, the gold suggested that the average position in the past two weeks after the decline in the previous few days after the rebound.

 

Monday (May 8) international spot gold continued to fall after opening, hit $ 1221.09 after a slight rebound, currently running around $ 1228. Gold morning opened lower 1221, low open 7 dollars, from the current trend, gold back to 1230 near the back, the support is still not obvious, under the influence of the risk of time, the possibility of sharply lower on Monday is still relatively Big, technically, gold has the opportunity to fall below 1200, and there are signs of continuous below.

 

Last week, gold fell more than 3%, the highest since November last year, the largest single-week decline, the market risk aversion subsided is an important factor in igniting gold weakness. This week the market is mainly to digest the Federal Reserve interest rate is expected to focus on the expected price of gold continue to suppress. The lack of effective bullish news on the market this week, the remaining risk events will gradually diminish the impact on the price of gold.

 

Gold for this week trend, some analysts said the gold last week because of the technical aspects of serious damage, this week, the trend of gold to bearish mainly. Monday gold market still need to pay attention to the Fed officials speech and LMCI index. Tonight at 20:30 the Federal Reserve Brad speech and 20:45 US Federal Reserve Mestre made a speech. 22:00 US April Employment Market Condition Index. Is expected to still have a volatility impact on gold prices.


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