In addition to Lunar New Year gold bars, LunaWhat are the similarities between precious metals and gemsr New Year precious metal medals have also attracted attention. It is understood that the 2012 Year of the Dragon Lunar New Year precious metal medal series issued by Gold Coin Corporation has a total of 22 specifications and 31 pieces, including a single round gold medal, a single round silver medal, a round gold and silver medal set, and a happy-shaped gold medal list. Pieces, hi-shaped gold medal set, hi-shaped silver medal set and single round platinum medal. The price ranges from about 400 yuan to about 400,000 yuan, suitable for consumers of all levels.
The upsurge that started in mid-August led to a further decline in the price of gold and silver in September. Coupled with the oversupply of silver commodity attributes, the wave of strikes in South Africa and the central bank's purchase of gold, the three major factors will make the prospect of silver weaker than gold, and the current opportunity for buying gold and selling silver arbitrage appears. Funds increase gold holdings higher than silver holdings. From the perspective of precious metals ETF holdings, from August 15 to September 12, the world's largest gold ETF-SPDRGoldTrust increased its holdings of gold by 2.5%, and the world's largest silver ETF- —ISharesSilverTrust increased its silver holdings by only 0.6%. And since September 12, gold and silver ETFs have reduced their positions to 3.72 tons and 12 tons respectively compared with the previous trading day, suggesting that ETF funds have turned cautious on silver. From the CFTC holdings data, the total COMEX gold holdings climbed 15% from the week of August 14 to the week of September 4, while the total COMEX silver holdings fell by 7.4% during this period. At the same time, the net long position of COMEX gold holdings increased by 49% to 170,464 lots. Among them, the fund increased the gold long position by 27%, and the fund short position was 27%; while the COMEX silver net long position held by the fund increased mainly due to the short position. Changzhi, the silver bulls increased their holdings by 18%, while the shorts significantly reduced their holdings by 40%. The price of gold and silver is low. Since the precious metals started their upswing on August 15, as of September 12, the December contract for New York silver’s most active contract rose by more than 19%, while the December contract for New York gold rose by only 7.9%, leading to New York The price ratio of gold and silver dropped rapidly from 57.7 on August 15 to 52.5 on September 12. Through calculations, the historical average value of the New York price comparison is around 60. According to the current price comparison, it is obviously low. As a result, the arbitrage opportunity of buying gold and selling silver is coming. Even excluding transaction costs, the arbitrage space still has 5.5 upside potential. The spot price on the gold exchange is lower. The ratio of gold T+D and silver T+D fell to 50 on September 12, and it was 56 on August 15, and the ratio of December gold and silver contracts on the Shanghai Futures Exchange also fell. At 50.2, when the rally started on August 15, the price ratio was 55.6, implying that the Shanghai stock market gold and silver futures have a lower price ratio and there is more room for profit from buying gold and selling silver. There are more positive factors for gold than silver. First of all, the time of the strike in South Africa. The strike in the platinum industry in South Africa in August has caused a total of 44 deaths, including 10 police officers. The cause of this massive strike was the miners' demand for higher wages. However, the current mining costs (mining depth and energy consumption) are also rising. Increasing the salaries of miners will increase the cost even more, and the miners might as well not produce. Although the strike mainly occurred in platinum mining companies, it gradually spread to gold miners. Second, the central bank's purchase of gold is a major profit that silver does not have. According to a research report recently released by the World Gold Council, in the second quarter of this year, central banks’ demand for gold purchases reached a record 157.5 tons, more than double the same period last year. More and more central banks are quietly including gold in their investments. The combination has gradually become the main force for buying gold. For a long time in the past, the central banks of western countries have been net sellers of gold, selling as much as 400-500 tons per year. This is largely to realize the shift from gold to diversified investment. This trend has changed since the second half of 2009. Central banks in Western countries have almost stopped selling gold, while central banks in emerging markets have accelerated their pace of increasing gold reserves. Finally, the oversupply of domestic silver is very serious. Domestic silver consumption only accounts for about 50% of the output each year. With the decline in quotas and the sluggish overseas demand, exports continue to decline. The blocked exports make it difficult to pass on the excess. On July 20, the Ministry of Commerce issued the second batch of export quotas for tungsten, antimony, tin, silver, indium, and molybdenum in 2012 (40% of the total), specifically 7,587 tons of tungsten, 26905 tons of antimony, and 2,155 tons of silver. Tons, of which silver coordination dropped 4.9% from the same period last year. According to customs data, silver exports in July were 36,948 kilograms, a decline of 53.5% from the same period last year, while exports from January to July fell by 40.8%. In July, silver production increased sharply by 21.6% compared with the same period last year, to 10,764,006 kg, which was 15.3 percentage points faster than in June.
In addition, the recent continued strength of the U.S. dollar has also put tremendous pressure on commodity markets such as gold. As market concerns about the debt problems of the Eurozone countries such as Greece have intensified, the exchange rate of the euro against the U.S. dollar has fallen one after another, which has pushed the U.S. dollar higher, while a stronger U.S. dollar is negative for the prices of dollar-denominated commodities such as gold.
The US New York Mercantile Exchange (COMEX) gold futures closed slightly higher on Thursday (July 7), the European Central Bank (ECB) interest rate hikes and Trichet (Jean-Claude-Trichet) supported Portugal to bring pressure on gold prices , But the euro/dollar rally also constituted significant support. Investors are also unwilling to make too many bets before the US non-agricultural employment report is released on Friday.
On Tuesday, affected by the weaker-than-expected US economic data, the surge in the crude oil market and the re-entry of some buyers attracted by low prices, the main gold contract on the New York Mercantile Exchange received $1702 per ounce, an increase of 1.4%. Yesterday during the Asian session, spot gold fluctuated within a narrow range. Due to negative news in Europe, it fell below US$1,700 per ounce again.
FX168 News Recently, the Texas Senate passed a bill allowing gold and silver to be used as legal currency. After this plan is passed, it means that precious metals such as gold and silver can be used as trading currencies, and people can open accounts to deposit precious metals in funds, and use the electronic system to pay with the savings in the account. Michael Boldin of Tenth Amendment Center said: The most important thing is that this allows people to use gold and silver instead of paper money as payment methodWhat are the similarities between precious metals and gemss. This approach will not make the Fed useless, but it is the right step in this direction.
German media BildZeitung quoted German officials as saying that the European Financial Stability Fund may use assets such as European Central Bank gold as bond collateral after the fund's expansion. According to reports, this proposal will be presented at the EU leaders summit that day. (Source: Securities Times)
This trading day will announce the final value of Germany’s second-quarter GDP, the UK’s August CBI retail sales difference, the number of initial jobless claims in the US after the seasonal adjustment last week, the US’s August Markit manufacturing purchasing managers’ index, and the US in July. The total number of new home sales is annualized. Chicago Fed President Evans will attend a media briefing and express his views on the current economic situation and monetary policy.
Since the disintegration of the Bretton Woods system, the global paper money system has been in operation for 40 years. Under the paper currency system, fiscal deficits and sovereign debt monetization are popular. The United States, the United Kingdom, Japan, and the European Central Bank are all the same. The non-binding nature of currency issuance has been highlighted, which challenges the basic definition of currency. How to restrict currency issuance will become the core principled requirement of the future international monetary system reform. Many opinion leaders believe that even if it does not return to the gold standard, gold will play a certain role in the future monetary system.