Both gold and silver speculation are highly leveraged operations, and bets can be placed with a small margin. All futures trading is a precious sword that can be used to increase margin to smooth market volatility. The New York Metal Futures Exchange increased the margin three times in a row, and those accounts that could not pay the margin were ordered to be liquidated, and the price plummeted. Some people say that this is an opportunity to buy bottoms, but most people wait and see, so the celebrities look to the world and look for support points for prices, and they find thePrecious metal business expenses? two giants in emerging markets without any effort.
COMEX gold futures prices plunged 1.5% on Wednesday (April 10), recording the biggest one-day drop in a month and a half, affected by signs that the Federal Reserve (FED) is closer to ending the monetary stimulus plan, and Cyprus plans to sell gold reserves to raise money funds.
In addition to the suppression of the Cyprus bailout agreement, better-than-expected US economic data has also made gold's hedging attractiveness decline. According to data released by the US Department of Commerce on the 26th, due to the sharp increase in transportation equipment orders, durable goods orders from US factories in February this year increased by 5.7% month-on-month, reaching US$232.1 billion. Revised data show that orders for durable goods from US factories fell 3.8% month-on-month in January this year.
FX168 special gold analyst Ma Jun said that with the completion of the North Korean rocket launch plan and the slowdown of GDP data in the first quarter, the short-term safe-haven funds that pushed up gold prices have dissipated. The People's Bank of China issued an announcement stating that since April 16, 2012, the fluctuation range of the trading price of RMB against the US dollar in the inter-bank spot foreign exchange market has been expanded from five thousandths to one percent. This is another major move since the exchange rate reform in 2007. The news has not yet been fully digested by the market. It will benefit the US dollar in the short term and curb the rise in gold prices. From the analysis of capital flow, holdings and technical aspects, the price of gold is expected to continue to maintain a turbulent upward development pattern this week, and the operating range is expected to remain at $1620-1685 per ounce.
The report also shows that the central bank's purchases of gold last year increased by 17% over 2011, reaching 534.6 tons, the highest record since 1964. In the fourth quarter, the central bank purchased 145.0 tons of gold, an increase of 29% year-on-year. The central bank has become a net buyer of gold for eight consecutive quarters.
Frederic Panizzutti, CEO of MKS Precious Metals DMCC, said on Monday that the average price of gold in 2017 is expected to be $1272 per oPrecious metal business expenses?unce, and political factors will become the main force driving gold prices.
New York on the 25th. In the strong rise of the US stock market and the risk aversion triggered by the uncertainty of the Italian parliamentary elections, gold rose about 1% during the New York session. This is the third consecutive trading day that gold has risen after its plunge last week. Recently, Fed executives have repeatedly emphasized the recommendation that the US Central Bank lower or end its asset purchase plan early. This has caused a serious blow to the concept of gold as a hedge against inflation. Investors are currently watching Bernanke's half-year testimony in Congress this week to get more clues about the US economic stimulus policy. Reuters data shows that at GMT21:07, the settlement price of the US gold futures contract expiring in April rose by $13.80 to $1586.8. Transaction volume also rebounded to the 250-day average. On the 26th, the Asian morning market, Singapore. As the uncertainty of the Italian election reignited the panic about the Eurozone debt crisis, gold continued its gains during the previous trading session and launched an offensive towards $1,600. According to a survey, no party may win a majority in the Italian upper house. This makes the market once again worry about the risks posed by the political uncertainty of the third largest economy in the Eurozone. The US stock market yesterday recorded its biggest daily decline since November. During the current period, the Australian and Asian stock markets both fell. According to a forecast survey released on Monday, the United States' economic growth rate this year may be around 2.4%. Government budget cuts and chaotic political battles over fiscal policy will influence the process of US economic recovery this year. The world's largest gold ETF fund SPDR yesterday reduced its holdings of 7.83 tons (0.61%) of gold to 1,292.848 tons. This is the lowest value since August 2012.
At least 10 gold processing companies in Shenzhen have closed down. Most of these factories have a scale of several hundred people. For example, the small and medium-sized gold processing companies that closed down in the Pacific Industrial Zone have two factories with an area of about 800 square meters, which are considered mid-range companies. Yes, but it fell down. An industry insider told reporters this way.