Cai Zhenwei: Gold traditionally has a hedging function, but when the financial crisis just broke out, the gPrecious metal prices Monexold market and the stock market were on thin ice, because the price of gold was mainly dominated by the futures market, and the futures market was largely driven by speculative factors. At the beginning of the global crisis, financial institutions were caught in a trend of deleveraging transactions, and the spot gold price was dragged down by futures prices to below US$700.
4. According to data released by the Chicago Fed, the Chicago Fed National Activity Index fell sharply to -0.45 in April. The three-month moving average of the index fell to -0.12 that month, and it was revised to +0.08 in March.
Beginning on May 2, the price of gold in New York fell from a peak of $1574.8 per ounce. It has fallen 4.2% in a week and has been transmitted to the gold jewelry consumer market. Yesterday, the reporter visited gold shops in the city and learned that the price of gold jewelry has dropped from the highest peak of 419 yuan/gram during the May 1st period to about 400 yuan/gram, and the merchants have a lot of promotion efforts, and some merchants’ actual transaction price is higher than the listed price. Still low.
On August 8, affected by Standard & Poor's announcement of downgrading the credit rating of the United States, the Asia-Pacific stock market generally suffered a heavy setback. The A-share market plunged 3.79%, and individual stocks showed a general decline. However, as the European and American debt crisis continues to ferment, the price of gold has soared all the way for the sake of risk aversion. Driven by the rise in commodity prices, gold stocks in the A-share market have become a major 30.55-0.55-1.77% highlight of GF Securities. Shandong Gold and Zhongjin Gold soared 6.51% and 5.13%, respectively. Zijin Mining became the only A AH stock that bucked the trend.
The fiscal cliff itself is negative for precious metals. In fact, the fiscal cliff is essentially an increase in taxes. The increase in taxes corresponds to the reduction of the US government's deficit, and it also corresponds to the process of relative tightening of the government's currency. And precious metals are the buoys of the global financial water level, especially the dollar water level, so the relatively tight currency cycle will correspond to the decline cycle of precious metals. Sun Yonggang said.
On the afPrecious metal prices Monexternoon of October 22, 2013, Beijing Gold Exchange Center, Beijing Gold Economic Development Research Center, and Economic Publishing House co-sponsored the "Seminar on the 20-year Reform of the Gold Market". Zhang Yongtao, vice chairman of the Gold Association and professor-level senior engineer at the meeting, introduced the development status of the gold industry.
Jim Baird, chief strategist at PlanteMoranFinancialAdvisors, said that investors continue to pay attention to the expanding European debt crisis, but the tensions on the Korean Peninsula have exacerbated concerns. He said that investors are already nervous and there has been no news in the past few days that can boost their confidence. MFGlobal analysts said that the tension on the Korean peninsula forced market participants to see this place as a source of warning that may continue to escalate, and the developments here are really unpredictable.
In addition, in the brand counters of Luk Fook and Chow Tai Fook, although platinum jewelry is not priced by weight, but the price is jointly marked by platinum, craftsmanship and other expenses, but the sales staff introduced that because the production process is different, even if the number of grams is the same The price of platinum jewelry is also different. If you have to calculate by weight, the price of these platinum jewelry is also between 500 yuan and 600 yuan per gram.