The thrill of the roller coaster also left many investors with lingering fears. With the coming of the Golden Nine and Silver Ten, this means that the peak season of demand for physical gold is coming, and the physical gold market has already prospered in advance. In addition, in the investment market this year, in order to avoid risks, a lot of funds poured into the gold market, which also provided strong support for the short-term trend of gold prices. According to the analysis of industry insiders, from the perspective of technical trends, the rising channel of tPrecious metal transaction pricehe gold price remains good, and it is expected that the gold price will rise further in the market outlook. The short-term support will be below 1,850 US dollars per ounce.
Risk aversion continues to dominate the market in recent days. The Federal Reserve's interest rate decision meeting on Wednesday kept interest rates unchanged, and at the same time lowered its forecast for US economic growth this year and next, and the weaker-than-expected property market data made the market increasingly worried about the weak recovery of the US economy. The news in Europe is both good and bad: Although the Greek government passed the first round of confidence vote, the subsequent austerity measures are under tremendous pressure, and countries such as Germany and France continue to put pressure on Greece. On the other hand, the meeting of the Council of Ministers of the European Union will be held soon, and the meeting may mainly discuss the issue of the debt crisis in Greece. In this context, investors are reluctant to buy risky assets, and the dollar rises.
The European Central Bank, which had previously issued a food shortage threat to Cyprus, insisted on Tuesday that the Cyprus rescue plan was only a special case. It tried to suppress the rescue plan reached by Cyprus and the European Union after the radical remarks made by Eurogroup Chairman Jeroen Dijsselbloem. Market speculation on the future bailout template for the euro zone banking industry.
WPIC currently forecasts a surplus of 8 tons in 2020, which is 4 tons higher than its previous forecast. Affected by weak automobile and jewelry sales and declining investment demand, demand in 2020 is expected to be 18% lower than in 2019. The closure of smelting plants and the shutdown of mines caused by the epidemic resulted in a 13% year-on-year decrease in supply.
In addition to the securities market, bonds in emerging markets have also benefited from ample global liquidity. With the global sell-off of European and American bonds, bond investors are returning to emerging markets. According to EPFRGlobal data, since the beginning of July, individual and institutional investors have invested in emerging market bond funds for 10 consecutive weeks, marking the longest period since the end of 2017. Among them, most of the incremental funds came from the three weeks from the end of August to the beginning of September. At this stage, the net inflow of emerging market bonds reached US$8 billion.
On the same day, the price of silver futures for December delivery fell 47.6 cents to close at 30.446 US dollars pePrecious metal transaction pricer ounce, a decrease of 1.54%. Platinum futures for October delivery fell 16.6 US dollars to close at 1503.7 US dollars per ounce, a decrease of 1.09%.
The German Gold Supermarket Distribution Company (TG-Gold-Super-Markt) plans to install a total of 500 gold vending machines in some cities in Germany, Switzerland and Austria before the end of this year. These gold vending machines will first appear in airports, train stations and large shopping malls. The vending machine can sell 1 gram, 5 grams, and 10 grams of gold. The Burlem Tass Business Channel reported that each vending machine can store 1,500 gold bars for sale.
The price of silver futures for delivery in March rose 85.4 cents to close at 32.804 US dollars per ounce, an increase of 2.7%. The price of platinum futures for January delivery rose by 20.1 US dollars an ounce to close at 1560.8 US dollars, an increase of 1.3%.