Forex Education Center And Investment- Gold Prices Fall Due to Dollar Strengthening America,After being strengthened, the pressure drop in the price of gold continues today. Strengthening of the United States dollar (USA) due to poor economic sentiment survey data and data in the Euro Zone Consumer Price Index (CPI) British, put pressure on gold prices.
"Prices are now in the range of US $ 1227 per ounce, below yesterday's close at US $ 1,232 per ounce," said the Head of Research and Analysis PT Monex Investindo Future, Ariston Tjendra in his review, Wednesday (15/10/2014).
In the short term, the pressure drop shadowing gold price movements. According to him, it can be seen from the current price moves below the 20 MA on the 4-hour chart.
However, further decline should wait for confirmation of a break down support US $ 1,223 per ounce by the target potential area for US $ 1216 per ounce.
"While the upward movement of US $ 1232 per ounce, opening new areas to increase the potential of yesterday's US $ 1,238 per ounce," said Ariston.
Today some economic data could be a market mover as a data Producer Price Index (PPI), Retail Sales and Manufacturing Index New York area. Data better than the predictions potentially push the price of gold down.
