The gold future consolidated over the last week with weekly high at 1598.50 and low at 1567.05. The weekly chart closed with a small negative bar, and the fluctuation range gets narrower. Gold have been seesawing from May and which is rarely seen over years. The risk hedging demand support the gold but the debt crisis makes the global liquidity scarce. Both factors force gold’s price to keep stable. On both weekly and daily chart, gold will be consolidating.
Trading Strategy: we suggest traders standby, or trade the range of 1591-1568, with 5 dollar stop loss.