ABS Australia Sheng Group.

The continued recovery in the US economy has increased investors ' expectations of the Fed's interest rate hike, and recently Fed officials have frequently issued tough speeches. The dollar index has risen continuously, and the daily Candlestick chart has been triple-yang. Gold is under pressure, falling for the 3rd consecutive, and the downward momentum is intensifying. Silver prices are also weakening, challenging the 19.0-dollar support threshold. Future gold and silver prices will continue the concussion callback, investors can choose to sell a small number of short selling strategy.

The US economy has continued to pick up, although the U.S. July wholesale inventories released in Friday were flat, but did not alter the hawkish rhetoric of Fed officials. The US wholesale inventory in July was flat with the previous month, and wholesale sales declined, suggesting that the replenishment of the stock to the third quarter was a limited boost. Rosengren, the president of the Boston Fed, said in Friday that the Federal Reserve, which had been reluctant to raise interest rates, would face growing risks if it waited too long to move, so it might be appropriate to tighten policy gradually. Investors have increased expectations for the Fed's interest rate hike in the year, and the dollar index has gained momentum, suppressing the price of gold and silver.

Buoyed by a recovery in the US economy, funds are beginning to chase high-yielding financial products. US 10-year Treasury yields rose 11.9 basis points, refreshed 11-week highs to 1.663%, 30-year U.S. debt prices fell more than 1 large points, their yields rose about 13 basis points, refreshing seven-week highs to 2.377%. The seven-year US bond yield has been refreshed at more than two-month highs, with five-year US bond yields rising 10 basis points and a week high to 1.227%. Gold has also been sold by investors, which has pressed the price of gold and weighed down the performance of silver.

Gold Technical Analysis: Gold up to 1339.62 in Friday, close 1328.13, lowest 1327.93. Gold prices in Friday accelerated weakening, continuation of the recent continuous callback pattern, the market active selling force is accumulating. At present, the Golden Day instead line has fallen below the daily line chart upstream channel lower rail line, the overall trend has weakened, the corresponding KD indicator, the fast line turn down to run, which may suppress the gold trend. Future gold prices will be shaken down, investors can consider a small sell short selling strategy.

Resistance: 1340\1350\1360

Support: 1318\1308\1300

Investors are advised to choose a small short selling, with a target of $1318.

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ABS Australia Sheng Group.