2. The European Central Bank (ECB) said on Tuesday that itWheaton Precious Metals Stock Yahoo will take action to limit the government's use of bonds as collateral for loans. The bank said that, except for the bonds currently used as collateral, it will no longer accept new government guarantees and other quasi-fiscal guarantee bonds as collateral, and the new regulations will take effect immediately.
In addition, the 17 members of the Federal Open Market Committee of the Federal Reserve agreed that the target range of the federal funds rate will remain at an ultra-low level of zero to 0.25% in 2020 and 2021. Most officials predict that this interest rate range will remain unchanged until 2022.
This week, the Greek debt problem will be the focus again. There are serious differences among the parties in the Greek coalition government, and reform measures cannot be effectively advanced, which drags Greece into a huge vicious circle. In the conference call held last weekend, the euro zone’s patience with Greece has obviously been greatly reduced, saying that if Greece does not accelerate the implementation of reforms, the private sector debt restructuring plan will not be able to continue. At the same time, Eurogroup Chairman Juncker did not show mercy in his speech over the weekend, saying that if the parties in Greece make poor progress, the country will declare bankruptcy in March.
On that day, the price of silver futures for delivery in July rose 23.7 cents to close at $22.69 per ounce, an increase of 1.06%. The price of platinum futures for July delivery rose 29.7 US dollars to close at 1482.7 US dollars an ounce, an increase of 2.04%.
In terms of gold futures, we will further attract institutional investors. On the basis of the current seven Chinese banks as members, we will study domestic commercial banks with foreign investment backgrounds to become members; at the same time, according to the needs of market investors, market positioning and long-term development needs , Explore and study gold night trading business. Wang Lihua said in his keynote speech.
From 1478 US dollars/ounce on July 1 to yesterday's 1814.4 US dollars/ounce, in 30 trading days, international gold prices soared by 22%. The duration and momentum of this round of the mad bull market for gold have exceeded market expectations. While gold continues to hit new records with a new high each day, the risk of a callback is also condensing. After several days of continuous sharp gains, as oWheaton Precious Metals Stock Yahoof press time, the international gold price fell back to around US$1,763 per ounce.
The European Central Bank used the IMF to rescue the eurozone's heavily indebted countries, which is more like a political game. According to the aforementioned investment bankers, on the one hand, the European Central Bank’s 270 billion euros of investment is difficult to cover the total debt of about 3.3 trillion US dollars in the euro area countries such as Italy and Spain; on the other hand, emerging market countries are requesting higher amounts while providing huge loans to the IMF. As for its voting power in the IMF, the European Central Bank has to make additional capital contributions to maintain its current voice in the IMF.
Commerzbank (Commerzbank) analysts said on Monday (June 27) that gold may avoid a further sharp correction after the recent sell-off. Affected by the strong rebound of the US dollar, gold fell below the $1,500/ounce mark for the first time in five weeks in the last two trading days. The bank said that gold is not expected to further withdraw significantly. Greece will vote on austerity measures this week, and it is still uncertain whether the Greek Parliament will approve austerity measures.