The price of silver futures for deliveSan Juan Precious Metalsry in December rose 74.4 cents to close at $34.828 per ounce, an increase of 2.2%. The price of platinum futures for delivery in January rose 28.7 US dollars per ounce to close at 1658 US dollars, an increase of 1.76%.
However, Sun Haosen believes that gold's anti-inflation properties are expected to increase, and the medium and long-term support gold prices will fluctuate upward. From the perspective of the supply of gold, the supply of gold has begun to fall, and the central bank has begun to purchase gold, maintaining it at around 150 tons per quarter. The central bank's continued repurchase of gold led to a decline in gold supply. On the one hand, the central bank repurchases gold and uses it as part of a long-term investment portfolio to obtain income. On the other hand, the central bank uses gold as a hedging tool to achieve value preservation. However, the current global inflation is relatively low, and the price of gold is also in a downward channel, which contradicts the central bank's repurchase of gold. Due to the lagging nature of inflation, it is speculated that the central bank will strengthen its expectations for future inflation. At the same time, it is also believed that gold prices are approaching the cost line as a good time for repurchase.
The State Council issued the "Decision on Cleaning up and Rectifying Various Trading Places and Effectively Preventing Financial Risks." Many mainland exchanges, including the Tianjin Precious Metals Exchange, are only approved by the local government and are copycat gold exchanges. Due to the fact that there are more Internet access points in the Guangzhou market, investors in Guangzhou often leave the market to wait and see developments due to concerns about the survival prospects of the Stock Exchange.
Stimulated by excess liquidity and demand for hedging, gold prices will continue to be supported. Everbright Securities pointed out. CICC's recent report also judged that in the medium term, the European debt crisis and emerging market inflation concerns may also regain market attention, so the rising trend of gold prices will continue.
Investors on this trading day will focus on the minutes of the September meeting of the Fed to be announced tonight. Canadian TD Securities (TDSecurities) pointed out that the two major central banks in Europe and the United Kingdom launched more new measures and strengthened the Fed's expectations for the third round of quantitative easing measures (QE3).
Commezbank said on Wednesday that rating agency Moody had downgraded the ratings of two major French banks, which could dampenSan Juan Precious Metals confidence in the banking industry. In addition, German Chancellor Angela Merkel's comments suggest that the tripartite agency left Greece a week and a half ago not just for technical reasons. All signs show that debt worries will continue to linger in the short term.
The recent performance of gold and silver is eye-catching. Shanghai Bank rose for five consecutive days last week, with a cumulative weekly gain of 8.08%, and New York silver futures’ cumulative gain was as high as 9.34%. The analysis believes that whether the Fed launches QE3 has become a major factor in determining the trend of gold and silver: if QE3 is pushed, there is huge room for gold and silver to rise in the future. Otherwise, the recent sharp and rapid rise will be unsustainable, and there will be adjustment pressures in the short and medium term.
Now I remember Jiangnan music. At that time, I was a young man with thin shirts, riding on a leaning bridge, full of red sleeves... It was not the gray-haired grandfather who made this sigh, but the gold that had been neglected recently. The tragic situation of the 20% price drop in September is still vivid, and gold entering the fourth quarter has even greater troubles.
According to the "Yearbook", the reason for the increase in gold mine output in 2016 was on the one hand due to the successive commissioning of multiple new mines, on the other hand, due to the further decline in gold production costs and the continuous increase in gold prices. Compared with 2015, the total global gold maintenance cost dropped by 4% last year to an average of US$852 per ounce.