This month, many local Fed officials have expressed support for the redThe best place to buy precious metalsuction of quantitative easing (QE). Summers is also getting better in the race against Yellen. The storm of QE withdrawal seems to be just around the corner. In August, the U.S. stock market fell by more than 3%, and the exchange rates of many countries in the Asia-Pacific emerging markets plunged. In contrast, spot gold rose instead of falling. The negative data market always ushered in a counterattack from many parties. This is in the latest Federal Reserve meeting. Later, it was even more vivid.
The US data released overnight was mixed, but the strong German economic sentiment index caused the dollar index to fall. COMEX-12 month gold futures were also affected by the overall market sentiment overnight, and finally closed up 3.4 US dollars to 939.2 US dollars per ounce, the intraday high price was 941.6 US dollars per ounce, and the lowest price was 935 US dollars per ounce. On Wednesday, Shanghai Gold 0912 fell 0.84 yuan to close at 205.54 yuan.
On March 26, gold futures on the futures exchange rose across the board, and the main 1206 contract closed at 340.78 yuan per gram, up 1.08%. Market participants pointed out that domestic gold futures were affected by the surge in gold futures on the New York Mercantile Exchange (COMEX) last Friday. On March 23, the settlement price of COMEX gold futures for April delivery rose by $19.9, or 1.21%, to 1662.4 per ounce. Dollar. The sharp rise last Friday made gold futures rise 0.4% this week, ending the previous three-week losing streak.
Due to good economic data in the United States and the market’s concerns about real demand, the precious metals recorded a sharp decline in the previous trading day (15th). Among them, the selling pressure of London Gold is obvious since the opening of the market at $1326.28. After the United States announced the price index in the evening, the decline expanded and it once touched the line of 1,285.80 dollars. As of the close, it was reported at 1,302.20 US dollars, down 25.41 US dollars, or 1.91%. Spot silver was affected by the fall in gold and once dropped to its lowest point since February 4. Data information shows that spot silver fell 0.37 US dollars to close at 19.60 US dollars in various periods throughout the day. A decrease of 1.85%.
Fundamental demand is sufficient to support prices, and investment demand continues to rise; the pace of recovery in the United States has slowed, and the dollar continues to weaken; over-issued currencies determine future inflation expectations, and low interest rates will continue; major economic events directly reflect economic conditions, and in the short term Stimulus shows that the trend is difficult to change. It is indeed difficult to find a reason to be short on gold by taking an inventory of the major factors that affect the price of gold. Perhaps as some analysts have said: No investment product has a bull market that lasts for 10 years like gold. Perhaps this is a long bull. The trend is indeed strong and difficult to reverse.
World Gold CouncThe best place to buy precious metalsil Chief Executive Officer (CEO) Aram Shishmanian said on January 31 that in the current economic situation, gold plays a key role in protecting wealth, supporting future growth and reducing risks. He also predicted that the global central bank gold purchase momentum that began in 2009 will continue.
International gold transactions such as London Gold and London Silver are illegal in China, and investors' interests are damaged, and it is difficult to obtain legal protection. A person from the Economic Investigation Bureau of the Municipal Public Security Bureau said that these illegal underground gold speculation companies often claim that they are Hong Kong companies or well-known foreign financial institutions. They are authorized by relevant financial institutions to solicit customers to open accounts and speculate in gold. These companies are wearing legal overseas. , They are very seductive.
After the international gold futures price broke through the $1,000 per ounce mark on February 20, the SPDR Masukura, the world's largest gold fund, came to an abrupt end. The price of gold fell for eight consecutive trading days; although the half-year trend line between the US dollar and gold remained positive Related relations, but there are signs of parting ways.
How is the silver market outlook? Li Zhuofeng believes that although it is difficult to challenge high positions this year and next two years, the market outlook is still improving, and investors have no shortage of short-term speculation opportunities, with volatility reaching 8% to 10%. Lee said that inflation continues to be the main reason for the strong support for silver prices. Currently, countries such as Europe, America and Japan still implement quantitative easing policies. Inflation will continue for a period of time, and commodity prices are likely to rise but never fall. In addition, the silver price fell to the level of 30 US dollars to see support. It is not ruled out that the market outlook will continue to "change horses". Li said that since last August, there has been almost no increase in gold ETF holdings, but silver ETF holdings have increased from 9,000 tons to 11,600 tons. Although there has been a recent reduction, there are still 10,800 tons. Foreign investors mainly invest in ETFs. The entry fee per lot of silver ETFs is cheaper than that of gold ETFs. Silver ETFs have the opportunity to continue to be the "horse swap" object for gold.
But some analysts are bearish on gold prices. Credit Suisse Bank lowered its gold price forecast by 5% to $1,680 per ounce. Its reason is that the demand for gold in India is weakening. Julian Jessop, head of commodity research at Capital Economics consulting firm, lowered the gold price forecast from $2,500 to $2,000.