In two weeks, the international gold price plummetNoble precious metals trading grouped from US$1,800 to above US$1,600, triggering a drop in the domestic gold retail market. Yesterday, the gold shops in Beijing once again announced a reduction in the retail price of gold jewelry, with a maximum of 10 yuan per gram of pure gold. This is already the third time in a month that gold stores have lowered the price of jewelry. After these three price adjustments, the vegetable hundred thousand pure gold fell 36 yuan per gram.
Zhao Yunyang, Fund Manager of Boshi Fund Management Co., Ltd.: Gold assets have indeed been hot in the past two years. Its price gains. We saw that domestic gold rose last year, and it gave investors 18.5% of income, so we see that especially Of investors are very fond of such assets as gold.
On that day, the price of silver futures for December delivery rose 72.6 cents to close at $34.666 per ounce, an increase of 2.14%. The price of platinum futures for delivery in January 2013 rose by $11.9 to close at $1651.1 per ounce, an increase of 0.73%.
When crude oil fell freely to $80/barrel, the gold bulls could no longer hold back. Last Friday, despite the fact that the world’s major stock markets and commodity markets suffered a dark start in June, the New York gold futures fought back and fought back. They eventually regained the defense line of $1,600 with an increase of $57.90 or 3.7%.
The "Daily Economic News" reporter learned that the bank's gold trading director Zak Dhabalia said that the return rate of gold during the year is still 14%, returning to the level of August, but the annual return of silver is basically flat. This shows that we must treat the currency asset characteristics of gold and other precious metals differently. It seems that the long-term risk of gold has dropped significantly due to the more restorative ETF position. Like the bull market in 2008-2009, the current market panic on monetary policy will support gold prices. Each adjustment of gold is to reorganize the position to cause the price to rise. In the medium and long term, buying at less than $1550 is a good opportunity.
The balance of foreign exchange reserves in January 2019 was US$3.09 trillion. If the trillions of US debt were replaced with gold reserves, the proportion of gold reserves would only be more than 30%. Let's calculate by the way: According to the current price, 10,000 tons of gold is worth about 428.5 billion US dollars, so 1 trillion US doNoble precious metals trading groupllars corresponds to 23,300 tons of gold. You know: At present, the total amount of gold mined in the entire earth is only 170,000 tons, and the world's gold reserves total 33,300 tons. Therefore, once central banks continue to increase their gold holdings, the impact on global supply and demand and price trends is simply unimaginable. This also means that the price of gold has been seriously underestimated relative to the total global currency.
Prior to this, a series of policies implemented by the Fed, including quantitative easing, have pushed up the market’s inflation expectations. In recent days, despite the slight increase in US economic recovery expectations and the slight decline in U.S. long-term interest rates, the 10-year Treasury bond interest rate has soared by 40% since March, showing that investors are concerned about the falling U.S. dollar, rising inflation and the U.S. crisis. Concerns about the lack of stamina for post-economic growth.
Comex-April gold futures closed up $6.00, or 0.35%, to $1,740.40 per ounce. Comex gold futures hit a record high of US$1,923.70 per ounce on September 6, 2011. Gold futures rose by US$145.40 for the whole year of 2011, an increase of 10.23%.