On Monday (June 17) in the Asian market in early trading, spot gold prices fell slightly below 1390 US dollars per ounce, while spot silver was trading near 22.00 US dollars per ounce. The declining consumer confidence and rising inflationary pressures announced last Friday in the United States once spurred a sharp rise in the price of gold and silver, but the preciouWhen will the precious metals market open?s metals market has since returned to calm again. All eyes of the market this week will be focused on the Fed's decision. Whether the old man can extinguish the current rumors of QE exit, which is getting hotter and hotter, is worth waiting for investors.
In fact, there is no need to value 1,000 US dollars too much, after all, it is just a psychological threshold, not a technical indicator. Jiang Shu, a gold analyst at Industrial Bank, pointed out that there is currently a misleading view of $1,000 in the market, thinking that as long as the price of gold exceeds $1,000, it will enter an upward channel, and as long as it drops $1,000, it will continue to decline. In fact, $1,000 will not cause a trend in the gold market. Sexual change.
The profit of agent gold trading has also risen with the increase in trading volume. Statistics from the Gold Exchange in April show that the agent volume of gold, platinum, and silver accounted for 43%, 52%, and 91% of the total transactions, respectively. Statistics of platinum trading agents in the same month showed that among the top ten agents, Agricultural Bank and ICBC occupied the top two positions, while Bank of China and Shenzhen Development Bank also occupied two seats. Among the gold agents, only the ICBC is listed, but it is only ranked tenth. Obviously, there is still a lot of room for improvement in the trading volume of gold agents of commercial banks.
Operational recommendations: From a technical point of view, the price of gold rebounded steadily, ending a four-day decline and rushing to a high of $1,649.60. Due to the extension of the EU summit, it is estimated that the short-term gold price will consolidate in the range of 1628 to 1658 dollars. Later, if the information is unfavorable, the price of gold will fall below 1605 and the market outlook will repeatedly test the 1588 support level; if the information is favorable, it will break through the important resistance level of 1668.
On that day, the price of silver futures for March delivery rose 13.6 cents to close at $30.082 per ounce, an increase of 0.45%. The price of platinum futures for April delivery fell 2.2 US dollars to close at 1556.3 US dollars per ounce, a decrease of 0.14%.
From November 27th to 30th, mWhen will the precious metals market open?ajor commercial banks have successively issued announcements, announcing the suspension of the account opening of precious metal accounts for individual customers and the agency gold exchange trading business. This is the domestic market since the gold exchange launched the personal T+D business translation in 2009. The most significant change in the gold investment market.
However, the special summit of European member states on March 11 reached a number of results in response to the debt crisis. The results of the meeting have helped the member states to successfully finance their sovereign bonds, help ease the deterioration of the European debt problem, and stabilize market confidence to a certain extent. Affected by this, the US dollar index fell sharply last Friday, and the gold price rebounded under support. However, it should be noted that the root cause of the European debt problem lies in the imbalance between economic development and fiscal expenditure. The current global economic recovery is slow, and European countries are affected by factors such as population aging. They have huge fiscal expenditures. Reducing fiscal deficits does not mean that they can With fiscal surpluses, European countries’ debt as a percentage of GDP will continue to rise in the future. Therefore, whether the results of the European Special Summit can be recognized by the market, and whether the financing costs of Portugal and other countries can be effectively reduced will determine the direction of the European debt problem and help gold choose its direction.