On the surface, Tiangui has already regulated much more. On the homepage of the exchange website, there are notifications of punishments against Tianjin Runmao Precious Metals Operation Co., Ltd. and Guoheng (Tianjin) Precious Metals Co., Ltd. due to the illegal operation of the intermediary and false propaganda. Compliance reminders were issued to all member units. Beginning on December 28 last year, new customers were suspended from conducting gold spot deferred settlPrecious metals wowement transactions. Gold trading is suspended, and other precious metals trading remains the same.
The silver futures price for December delivery fell 1.067 US dollars that day to close at 31.884 US dollars an ounce, a decrease of 3.2%. The price of platinum futures for January delivery fell 12.7 US dollars an ounce to close at 1558.3 US dollars, a decrease of 0.8%.
In addition, the contracted sales index of existing homes in the United States in November rose by 3.5% on a month-to-month rate and fell by 5.0% annually, further confirming that the US real estate market has begun to stabilize and recover. At the same time, a report released by the Chicago Institute of Supply Management showed that Chicago's December Purchasing Managers Index (PMI) hit the highest level in 22 years, and the pace of corporate expansion accelerated.
Since March, the international gold price once broke through a record high, but then rushed higher and fell back. Last week, it closed the second long Yinxian line since March. Although the price of gold was temporarily supported at the 20-day moving average last Friday, there is still technical pressure to pull back. The 5-day moving average crossed the 10-day moving average and counter-pressured the price of gold. The MACD indicator also crossed downward. Although Japan's offshore earthquake is bullish for gold prices in the short term, the weak demand for physical gold and the uncertainty of European debt will suppress gold prices. After high oscillations, gold prices may still form a staged peak.
Germany’s ZEW economic index was significantly lower than expected, and Finland’s inability to give up on guarantees put the euro under pressure and fell. The US dollar index was pushed to successfully reverse the sharp decline during European time. Gold and silver took profits at high levels and accelerated their decline during the New York session. New York City fell more than 3.5% in late trading.
Gold hit an all-time high of 1920 on September 4, 2011. On that day, there was news that the Swiss National Bank announced that the exchange rate of the Swiss franc to the euro was 1:1.2. Previously, there was an arbitrage model in the market that used strong currencies to buy strong assets, that is, the Swiss franc was used to buy gold. GoldPrecious metals wow has now almost retreated, the price is getting closer and closer to the value of its commodity, and the Swiss franc has lifted the binding of the euro exchange rate, this model may return. Zhi Yanan added and explained.
There will be no fewer than seven Fed officials who will speak this week. Tom DiGaloma, managing director of ED&FMan Capital, expects to get some information about QE's next move from the speeches of these officials this week. He said: I hope to see some Fed officials who did not want to be named in some news this week, saying that withdrawing from QE may be closer than we thought.
As for the reason for this short-term fluctuation, Yuan Lin explained that it was caused by a signal from the Federal Reserve. Some time ago, most people were bullish on gold, but after the minutes of the Fed meeting were released, many people worried that the quantitative easing policy would end early and the dollar would turn stronger, so the gold market fell. Yuan Lin said that the price of gold has not fallen to the end, which reflects the trend of fundamentals: the real turnaround of the market has not yet appeared, and the previous oscillation pattern is still continued.
The Chinese Gold & Silver Exchange Society (ChineseGold&SilverExchangeSociety) said on Thursday (May 15) that gold demand during the May 1st Golden Week of 2014 fell by 30% year-on-year. With the decline in purchases by mainland shoppers, Hong Kong jewellers’ gold sales have declined this year, adding to the signs of slowing consumption in the world’s largest gold consumer.
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.