Global inflation, quantitative easing, and the prospect of economic downturn have made gold's anti-inflation and risk-haven functions sought after by investors. In terms of seasonality,'Golden Jintai Precious Metals Co., Ltd.Nine Silver Ten' will soon enter the peak season of annual gold demand. In the long run, the oversupply of global currencies, the prospect of inflation, and the economic downturn will be the fundamental factors supporting the long-term rise of gold. Zhao Wei, an analyst at China Merchants Bank, said that as long as the market fundamentals remain unchanged, gold is still a relatively stable investment tool.
Before the traditional peak gold consumption season, the gold market staged an out-and-out roller coaster market, which dropped by nearly 6% yesterday. In contrast, the silver market can be described as thrilling. It only took 3 days to drop from nearly US$40 per ounce to US$26.
This time, the "Notice" of the five ministries and commissions proposed that, except for the gold exchange and futures exchanges, no other place, institution, or individual may set up a gold exchange or center, or set up a gold trading platform in other trading venues or centers. If it is not, the related establishment activities shall be terminated; if it has already started, it shall immediately stop starting new business.
Since March, many pawn shops in Hefei City, Anhui Province have raised their gold pawn prices, but platinum, which has a market price higher than gold, has entered the pawn shops, but it is not as good as gold. The author recently learned from pawn companies such as Hefei Chuangyuan, Huarong, and Hengxin that the value of platinum mortgages has begun to plummet, and the minimum mortgage price has fallen to more than 100 yuan per gram.
This week, a series of important economic data will be released, including the revised value of the US second quarter gross domestic product (GDP), the August Consultative Conference Consumer Confidence Index, the Eurozone Industrial Prosperity Index, Germany’s second quarter GDP, and the multinational price index. Wait. The market will use economic data to study and judge the economic situation of various countries, and grasp policy trends through the central bank's annual meeting and make corresponding adjustments.
3. A sJintai Precious Metals Co., Ltd.eries of economic data released by the United States last week still fell short of expectations. The Philadelphia Federal Reserve Manufacturing Index for September in the United States was -17.5, which was lower than the expected -15.0; the number of initial jobless claims for the week of September 10 rose by 11,000 to 428,000, which is expected to be 411,000; US retail sales in August The monthly sales rate was flat, with an expected increase of 0.2%, the previous value was revised to an increase of 0.3%, and the initial value increased by 0.5%. In addition, economists under the National Association of Business Economics (NABE) predicted in their latest forecast that the US economy may grow by only 1.7% this year, and the association’s forecast in May is 2.8%. Economists also predict that the US economy will expand by 2.3% in 2012, which is lower than the 3.2% expected in May.
However, as the U.S. stock market rebounded sharply, buying interest in gold and silver ended, and gold assets suffered a heavy setback on Tuesday. The international spot gold price failed to stabilize at US$1,900. The decline accelerated during New York time, reaching a minimum of around US$1,827, a decrease of 3.6%. . Silver fell even more. In New York, it broke through the two major barriers of $43 and $42, with the lowest hitting $41.50, a drop of more than 5%.