From a technical point of view, the 5-day, 10-day, 20-day, and 40-day moving averages on the daily charts of goldEl Capitan Precious Metals and silver were all stepped on, and the short-term rebound is expected to continue. On the weekly chart, the 5-week and 10-week charts are formed below Support; but the 20-week and 40-week moving averages of gold are in the area of $1280 and $1320 respectively, and the direction is downward.
At 18:32 Beijing time, spot gold was reported at US$1,593.86 per ounce, which had previously set a record of US$1,593.90 per ounce; COMEX gold futures reported US$1,594.50 per ounce. Since this month, gold has risen by more than 6%, and is expected to record nine consecutive days on the daily line, the longest rise since October 2006.
However, some market participants believe that, in fact, the current credit crisis of the US dollar and the euro and the global excess liquidity, these two main factors supporting the long-term upward trend of gold have not changed, so the recent rapid decline in gold cannot be used alone. To determine that the bull market in gold has ended, investors who are just deferred business of gold and silver especially need to control their positions in the near future, grasp the timing of entry, and pay attention to preventing and controlling risks.
Which customers have become the new force of gold investment? The reporter learned that in 2011, investors were among the most important. According to statistics from Guangzhou Changsheng Precious Metals Trading Company, 37% of their new customers in the second half of 2011 were former stock market investors, and most of them claimed to have not touched stocks for several months. The situation of other gold companies is similar.
In 2012, the cumulative trading volume of gold futures contracts on the futures exchange was 11.83349 million, a year-on-year decrease of 18.07%; the turnover totaled 4,036,437,750 million yuan, a year-on-year decrease of 20.82%. Gold futures trading volume and weight rank fourth in the world.
Barclays Capital (Barclays Capital) said that if the price of gold this week's closing price is loEl Capitan Precious Metalswer than $1,719, the bank will have a neutral view on the short-term trend of gold prices; the bank said that in this case, the gold price will try again for 200 days The risk of the moving average of $1,670 will rise. The bank pointed out that Comex's speculative position is at its highest level since September.