The evolution of the European debt crisis is confusing, but it does not affect the pursuit of gold in some countries. The latest official gold reserve report released by the World Gold Council (WGC) shows that Bolivia, Russia, Thailand and Tajikistan continued to increase their gold reserves in October. Analysts said that the European debt crisis will be difficult to eliminate in the short term, and the US dollar will continue to maintain ultra-low interest rates in the future. CouPrecious metals etc.ntries will inevitably issue additional currencies to boost the economy, and gold is still favored by investors. The spot gold price rebounded sharply on Friday night, but this week it encountered resistance and fell back at around $1,800.
February 18, Singapore. As investors continue to return to the market, the price of gold in the Asian market has gradually recovered from the six-month low last Friday. In addition, with the end of the Lunar New Year holiday, the physical gold market in Asia is expected to pick up significantly. At 0:00 GMT, the spot gold price recovered from Friday's low of around 1598 USD to above 1614 USD.
Since the disintegration of the Bretton Woods system, the global paper money system has been in operation for 40 years. Under the paper currency system, fiscal deficits and sovereign debt monetization are popular. The United States, the United Kingdom, Japan, and the European Central Bank are all the same. The non-binding nature of currency issuance has been highlighted, which challenges the basic definition of currency. How to restrict currency issuance will become the core principled requirement of the future international monetary system reform. Many opinion leaders believe that even if it does not return to the gold standard, gold will play a certain role in the future monetary system.
On the last trading day, precious metals experienced huge fluctuations in the market that first fell and then rose. In the early hours, under the pressure of good western data, gold fell sharply to its lowest point since February 10. Spot silver followed the downward trend of gold and hit its lowest level since 2014. Subsequently, due to the escalation of the situation in Russia and Ukraine, market risk aversion quickly pushed precious metals to regain lost ground and recorded intraday highs. As of the close, London gold rose by US$9.48 to US$1,292.84, an increase of 0.74%; spot silver rose by US$0.2 to US$19.63 to close, an increase of 1.03%.
Xinhuanet, Chicago, June 13 (Reporter Zhu Zhu) As investors’ concerns about inflation have gradually weakened, the market’s demand for precious metals such as gold has also been shrinking, leading to the continued decline of gold futures prices on the New York Mercantile Exchange on the 13th. The most actively traded August contract in the market closed at US$1515.6 per ounce, a drop of US$13.6 from the previous trading day. Market analysts believe that investors' concerns about the slowdown in global economic growth dominate the market, so inflation's supporting role in the precious metal market is weakening, leading to continued decline in the price of gold and other precious metals that day. Following the recent release of a series of disappointing data on non-agricultural employment in the United States, the economic data released by Germany, the United Kingdom, Australia and other countries have performed poorly. The Japanese economy, which has been hit hard by the earthquake, is also hard to expect. The economic growth of the world's major economies slowed down at the same time, causing investors to worry that the global economy will bottom out again. At the same time, Mike Daly, a gold analyst at Bailey Financial Group in the United States, said that investors' concerns about monetary policy tightening have also intensified with the series of economic data to be announced this week, which also constitutes a negative for the precious metal market. The closing price of the gold market that day set a record for the lowest closing price in nearly 3 weeks, and the price of gold fell by 0.9% in the last week. On the same day, the price of silver futures for delivery in July closed at US$34.737 per ounce, a drop of US$1.59 or 4.38% from the previous trading day. The platinum futures price for delivery in July closed at US$1806.8 per ounce, down US$26.2, or 1.43%.
These days, the biggest event that investors carPrecious metals etc.e about is the outcome of the US debt ceiling negotiations on August 2. At present, the US national debt ceiling is 14.29 trillion US dollars, which has exceeded 90% of US GDP. If the US Congress still fails to reach an agreement on raising the national debt ceiling a few days later, the US government that cannot borrow new money to repay old debts will face the risk of national debt default.
Markit's final survey results released on June 29 showed that the final value of the Eurozone Manufacturing Purchasing Managers Index (PMI) in June fell to 52.0 from 54.6 in May. The expansion of manufacturing activities in the Eurozone in June fell to the lowest in a year and a half. Level. The pace of expansion in Germany and France, which had previously recovered and stabilized, slowed down, while Italy, Ireland, Spain and Greece, which were in debt crisis, shrank.