Starting from April 10, the international gold price experienced a round of sharp decline. Although institutional investors have dumped, Asian investors lDragon Century Precious Metalsed by India and India have vigorously attracted gold. In recent days, international gold prices have shown obvious signs of stabilization, and Goldman Sachs also stopped recommending short gold. Some netizens lamented that Wall Street analysts couldn't reach the aunt.
On February 29, the international spot gold price opened at US$1770 per ounce, reaching a maximum of US$1780 per ounce all the way up. However, following the speech of Fed Chairman Bernanke, the third round of quantitative easing (QE3) was avoided. , Gold hedge funds sold heavily in the market, and gold fell nearly 100 US dollars in a single day, as low as 1688 US dollars per ounce, the largest drop this year, and then the gold price rebounded slightly, regaining the 1,700 US dollars per ounce mark.
Operational recommendations: From a technical point of view, the price of gold rebounded steadily, ending a four-day decline and rushing to a high of $1,649.60. Due to the extension of the EU summit, it is estimated that the short-term gold price will consolidate in the range of 1628 to 1658 dollars. Later, if the information is unfavorable, the price of gold will fall below 1605 and the market outlook will repeatedly test the 1588 support level; if the information is favorable, it will break through the important resistance level of 1668.
The price of gold continues to be affected by the U.S. dollar, and the volatility of gold frightens people, which also reduces the investment demand for gold. Those gold bulls have made no gains this year. The technical chart remains bearish because the price of gold in the daily and weekly charts of gold failed to reverse the downward trend line. I think the price of gold will steadily fall this week, said Frank Lash, a broker and futures analyst at FuturePathTrading.
The goal of financial management can also be asset preservation and risk resistance. Gold has this function and is a stabilizer for family investment portfolios. Xu Wenjun, vice president and secretary-general of the Gold Jewelry Industry Association, analyzed that despite the drop in prices, gold sales during the Spring Festival are still hot. Gold can not only beautify life, but also have investment functions. If it is based on physical gold investment, for the purpose of maintaining value, gold investment is still It is a good choice.
From the end of August last year to the end of April this year, the international silver price jumped from US$19/ounce to US$49/ounce, an increase of 150%. Such a strong upward trend cannot continue forever. The market is worried that once there is an adjustment, profitable short-term silver investors are likely to flee madly, causDragon Century Precious Metalsing silver to stage a high-level diving trend. However, there are still many experts who are optimistic about silver.