After Standard & Poor's recently downgraded the US long-term debt rating, global stock indexes fell miserably, and A-shares failed to survive. In the financial data fund classification, there are less than 10 of the nearly 400 equity funds that Precious metal rhodium pricehave achieved positive returns, and the return rate is less than 4%, and more than 120 funds have fallen by more than 10%.
With the continuous recovery of the economy and the gradual recovery of the real economy, liquidity will gradually transition to the field of production and consumption, which will inevitably bring about inflation. The interest rate hikes by the Reserve Bank of Australia and Israel, as well as recent speeches by politicians in the United States and Europe, all show that the foreseeers are already considering the issue of inflation, and interest rate hikes may become the main theme next year. Whoever adds first and who adds later is the key to dominating currency trends and even precious metals.
Bernanke said that the market is beginning to understand the Fed’s message, and has repeatedly emphasized that when to withdraw from the asset purchase plan is not predetermined, but will make appropriate decisions based on the improvement of economic indicators. He emphasized that if the economic situation Poor, it is not impossible to further strengthen QE's bond purchase plan.
The "Daily Business News" yesterday (May 17) reported on the Wenzhou speculation syndicate investigation and found that speculators lost tens of millions of yuan. For such a city where hot money speculation in precious metals is popular, many people may just marvel at the scale of its capital, but few people know the many risks behind it. Recently, an industry insider reported to the reporter of the "Daily Economic News" that as the silver market is booming in Wenzhou, some so-called London silver has also flourished. These underground gold speculation companies that strongly recommend London silver have also begun Aim at business opportunities and take advantage of the opportunity to gather customers and make money.
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.
Not only that, some central banks even turned to buying gold. The central bank announced in April that its gold reserves had increased to 1054 tons. Coincidentally, on August 1, 2009, the Central Bank of Russia announced that after the total international reserves decreased by 2.6% in July, its gold reserves increased by 3.38%. And Japan has accumulated a large amount of foreign exchange reserves, mostly in the form of US dollar assets. As long as Japan purchases part of its foreign exchange reserves for resource-related commodities, including gold, the price of gold is unlikely to fall, and a small amount of large purchases of gold will cause the price of gold to rise. Therefore, the future factors not only refer to consumer demand but may more refer to the decentralized purchase of foreign exchange reserves. This year is only the prologue, and large-scale operations Precious metal rhodium pricemay still be behind.
Comex-June gold futures closed down 28.20 US dollars, or 1.79%, to 1,548.40 US dollars per ounce, but gold prices rebounded to 1,568.50 US dollars per ounce following the euro in after-hours trading. Comex gold futures hit a record high of $1,923.70 per ounce on September 6, 2011.
The main reasons for this round of gold's plunge are: first, since July, the price of gold has successively broken through the 1,600, 1,700, 1,800 and 1,900 US dollars per ounce mark, and the excessive rise has accumulated a large number of irrational speculative bubbles; second, the recent Global stock markets and commodities have also suffered the worst decline since the financial crisis. Hedge funds have dumped gold to make up for losses in other markets. From the week of September 6 to 20, the total non-commercial position of CFTC gold futures decreased by 37,454 lots. Commercial net longs decreased by 33,842 lots, and other institutions and retail investors also stepped up their shipments. Third, the recent strength of the U.S. dollar and shortage of liquidity have put tremendous pressure on gold prices. The crisis of confidence caused by the European debt crisis has led to a major crisis in the European banking system. Area of dollar shortage.