Barclays Research (Barclays Research) stated in a research report that bPrecious Metal Diamond Companyefore the Federal Reserve (FED)’s September interest rate meeting, the physical gold market and gold exchange product holdings continued to provide support for gold prices, and investor inflows continued to be bullish for gold. As of last week, gold ETF holdings have risen by 16 metric tons, reaching a record high of 2,454 metric tons.
Silver has strong industrial attributes. 50% of silver demand comes from industrial use, which is much higher than the 11% of gold. According to the forecast of GFMS, the industrial use of silver will be close to 70% of its total demand by 2015. An important reason is that the use of silver in many new industrial fields will increase substantially. These new areas include: catalysts, food packaging, superconductors and superconducting capacitors, hygiene and medicine, batteries, etc. The total amount of silver used in these areas in 2015 will be more than four times that of 2010.
In late 1999, the central banks of many European countries (such as France, Spain, the Netherlands, and Portugal) decided to follow the British approach and sell some of their gold reserves. At that time, the price of gold was US$280 per ounce, less than one-third of the current price of more than US$900.
SharpsPixley's head of gold trading, Ross Norman, said: When the dollar hits a high level, gold is affected, which is clearly what happened this time. There are many things to worry about politically and economically, but people have become accustomed to bad news, so they no longer have an impact on prices.
The Greek parliament voted to pass the austerity plan to promote the rise of global stock markets, while the safe-haven gold has been suppressed to a certain extent, and the international gold price once again fell below the $1,500 per ounce mark. Industry insiders have different expectations about the future trend of gold prices, and the June non-agricultural employment data of the United States to be released this Friday is one of the focuses of investors.
The international gold price continued to rise last week, breaking through the integer mark of US$1,500 per ounce in one fell swoop. After the main 1112 contract of gold futures on the futures exchange broke through 310 yuan/gram, the upward momentum did not slow down at all, reaching a maximum of 316.29 yuan/gram. Silver, which is also a precious metal, performed even more eye-catching. The domestic silver T+D price once exceeded 10,000 yuan/kg last Friday, while the silver price was around 6,500 yuan/kg at thePrecious Metal Diamond Company beginning of this year.
The level of balance sheet imbalances is milder than that in 2008, and policies, especially monetary and fiscal policies, have combined greater force. At the same time, high-frequency indicators also indicate that the economy has bottomed out. We believe that the global economy will show a "V-shaped" recession and a "V-shaped" rebound. Probably the world will return to the growth level before the epidemic in the first quarter of next year, and the global economy will probably rebound to a GDP growth rate of about 3% in the first quarter of next year. , Said Xing Ziqiang.
In the United States, there were no important economic data released during the US session yesterday, but important data will be released in the next few days: house prices and consumer confidence reports will be released on Tuesday, durable goods orders will be released on Thursday, and the fourth quarter will be released on Friday. GDP revision report. Therefore, we can see that the U.S. index and gold almost maintained a narrow-range oscillation pattern yesterday, and the data in the next few days will provide further guidance for each other's direction. In addition, Federal Reserve Chairman Ben Bernanke will publish a semi-annual economic outlook forecast in Congress on Wednesday and Thursday, and may elaborate on monetary policy at that time, which will have a certain impact on the market.
The EU summit is about to discuss a comprehensive solution to the European debt crisis again. Whether the unified fiscal bill proposed by Germany and France can be passed has become an important factor in determining the medium-term trend of gold prices. It is expected that the euro zone countries will not give up their efforts to save the euro. In the future, the European Central Bank is bound to re-quantify easing, and the price of gold is expected to fluctuate upward.
9. Data released by the US Department of Labor (DOL) on Thursday showed that the number of initial jobless claims in the US rose slightly last week and exceeded expectations. Data show that the number of initial claims for unemployment benefits in the United States rose by 4 million to 371,000 in the week of January 5, which is expected to be 365,000.
The Precious Metal Diamond Companyauthor also believes that the European debt problem will be a long-term process, but he also pointed out that at the beginning of the crisis, investors will instinctively buy precious metals to hedge, but as the crisis deepens into the banking system and causes liquidity problems, The behavior of investors will evolve into the sale of assets, including gold. He reminded that after the subprime mortgage crisis broke out, it was precisely because of the lack of liquidity that the gold was sold and fell by 30%. Although European banks have large reserves and there will be no liquidity problems at present, once the European debt crisis gets out of control and the problem of insufficient liquidity emerges, the price of gold will fall further.