The fear of global financial markets falling into a liquidity crisis again is cooling the investment boom in the gold market. According to the latest data released by the US Commodity Futures Trading CommiMorgan Precious Metalsssion (CFTC), speculative funds have been withdrawn from precious metals such as gold, platinum, and palladium, and gold may still pull back further.
International spot gold on Tuesday (24th) in Asia rose to a high of nearly two weeks in early trading, because the market is worried about the European sovereign debt crisis or spread. It had previously hit an intraday high of $1,517.99 per ounce, which was also the peak since May 11. However, the price of gold is still not as high as the historical high of about $1,575 per ounce set in early May.
According to the plan, the exchange will establish hundreds of delivery bases in major non-ferrous metal production areas across the country. At present, it has established 3 in Chenzhou, Hunan, Hechi, Guangxi, and Ganzhou, Jiangxi. The establishment of the exchange will help strengthen my country's influence and voice in the rare and precious metal resource market, and lay the foundation for turning Chenzhou into a pricing center, trade center and information center for international precious metals trading.
In the past three days, the price of gold and silver has rarely fallen sharply. Last Friday, gold fell below $1,700 per ounce and formed a panic, which intensified the short-term plunge in gold prices. The hedging function of the gold market has been negated in the short term, and the selling pressure on silver is naturally greater. Yang Yijun, chief strategist of Weilxin Gold, told the reporter of "Daily Economic News".
Xinhuanet, Chicago, June 7 (Reporter Li Mi) As investors remained cautious before Fed Chairman Bernanke's speech, gold futures prices on the New York Mercantile Exchange fell slightly on the 7th. On the same day, the most active August contract in the market fell 3.2 US dollars per ounce to close at 1544 US dollars, a decrease of 0.2%. Analysts pointed out that the recent announcement of a number of U.S. economic data, including the unemployment rate, is negative, indicating that the U.S. economic recovery has entered a bottleneck period. Discussions on whether the Fed will continue its quantitative easing policy have also heated up. Therefore, Fed Chairman Bo Nanke's speech was particularly noticeable. As Bernanke’s speech that day revealed the information on the trend of monetary policy that may make the market more turbulent, many investors choose to clear their positions and leave the market to watch from the sidelines. This stopped the price of gold, which was continuously rising moderately, from rising and falling. Weakness also failed to provide an effective boost to the gold market. On the same day, the price of silver futures for delivery in July rose 26.4 cents per ounce to close at $37.046 per ounce, an increase of 0.7%. Platinum futures for delivery in July rose by US$9.5 per ounce to close at US$1830.7 per ounce, an increase of 0.5%.
The price of gold has continued to rise recently, but the trend of gold stocks is relatively stable, and this deviation will be corrected. Lin Yang, an analyst at Dongxing Securities, believes that the rise in gold prices will bring about an increase Morgan Precious Metalsin the performance and resource value of listed gold companies. With the rise in gold prices, the inherent investment value of gold stocks will continue to increase, and the trend of gold stocks will definitely be corrected in the future.
It is not yet certain whether the European Central Bank's capital contribution can be used as the IMF's confidence deposit for the European debt crisis relief loan. That is, once the IMF purchases a loss in European country bonds, whether the European Central Bank's capital contribution will first bear the investment loss is still unknown. He revealed.
The Fed’s gold is missing? All kinds of rumors circulated everywhere, and various supporting evidence slowly surfaced, but the truth remains unclear. Are those sparkling gold sleeping in Fort Knox in northern Kentucky, the United States really missing? This somewhat sensational statement began to receive widespread attention after the former president of the International Monetary Fund (IMF) Kahn was arrested for sexual assault.