The mistake of drawing this conclusion is that it sets the time period too short. From the general principle, gold is always negatively correlated with currencies, but the rate of movement of the price of gold with each specific currency is different. Although we have seen a situation in which the U.S. dollar and gold prices have risen at the same time during this periodPrecious metals and diamonds Johnstown, this can only show that the U.S. dollar has performed stronger relative to other types of currencies. From a historical perspective, their negative correlation will not change. Since the value of gold is falling on the trend, when the ratio of the dollar to the euro is corrected, the relationship between gold and the dollar will return to a negative correlation. In other words, currencies show a downward trend relative to gold, and the last one to fall is the dollar.
U.S. Secretary of State Kerry’s seemingly joking remarks turned into a mediator to avoid war in an instant. After a few rounds of moves and accepts, the two sides seemed to have a handshake. In a conversation with British Foreign Secretary Haig on September 9, Kerry said: If Damascus surrenders all its chemical weapons, it may be immune to military strikes from the White House. As soon as the speech fell, the Russian Foreign Minister Lavrov, who was in charge of the reconciliation work, made similar suggestions along the way. During his meeting with the Syrian Minister of Foreign Affairs, he stated that if Syria leaves chemical weapons in the custody of the international community, it is likely to protect Syria from external military attacks. Russia is also happy to complete the handover of chemical weapons with Syria. Subsequently, the Syrian foreign minister agreed with the Russian proposal and said that doing so would make the US aggression against Syria untenable. At the same time, the White House said that Russia’s proposal is a potentially positive development, and the Iranian Ministry of Foreign Affairs and Ministry of Foreign Affairs also expressed their seconding to the Russian proposal at regular press conferences. The US-Syrian relationship, which was originally on the line, turned around due to a joke made by Kerry, and it was implied that the market began to speculate on the true intentions of the two parties. But in any case, handing over chemical weapons has now become a way to avoid war. If it was said that it was necessary to fight before, now it seems that both fight and non-play account for 50%. As a result, the risk sentiment has changed greatly. Affected by this, the three major US stock indexes continued their upward trend the day before. Among them, the Dow Jones Industrial Index rose 130.55 points, an increase of 0.87%. Oil prices plummeted by nearly 2% due to relief from geopolitical tensions, and precious metals and other safe-haven assets also fell across the board. Among them, spot gold fell sharply by US$20.05 yesterday to US$1,363.85. It once hit a low of US$1,357.50 in the past three weeks, a drop of 1.45%. Spot silver fell by US$0.75 to US$22.89, a decrease of 3.17%. The August industrial data released yesterday showed that the economy of the world's second largest economy quickly stabilized and rebounded. The industrial added value in August increased by 10.4% over the same period of the previous year, and the growth rate rose by 0.7 percentage points from the previous month. The total amount of social financing in August reached 1.6 trillion yuan, nearly double the previous month. Good economic data shows that the economy has successfully transitioned from slowing down, stabilizing, to recovering. The new generation of economic leadership team pays great attention to the adjustment of economic structure. Although the means for stabilizing growth this time is still to expand credit and strengthen infrastructure construction, it has undergone significant changes compared with the monetary easing after the 2008 financial crisis. The investment of funds pays more attention to practicality, and targeting according to the needs of the industry is the main tone of this economic stimulus plan. For example, the construction of highways and railways has received a lot of financial support, but there is rarely a large amount of capital investment in the real estate industry. Relevant data shows that investment in real estate projects in the first half of the year remained weak. From January to August this year, the newly-started residential area increased by only 3.3%. Since September, the world's largest gold ETF-SPDRgoldtrust has cut its holdings twice in a row. On September 4, it reduced its holdings by 1.8 tons to 919.23 tons; on September 10, it reduced its holdings by 2.1 tons to 917.13 tons, a 0.42% reduction this month. Technically, gold tested the support near the $1360 level yesterday and once touched a low near the $1357 level. Protected by entrenched buying orders near 1360, the close was above 1360. In the early trading of the Asian market today, gold continued to oscillate around the 1360 line of weakness and once again pierced the 1360 US dollar. The support below the daily chart is near 1350 where the 40-day moving average is located. On the graph, the 5-day line and the 10-day line turned down, and formed a cross with the 20-day line, indicating that the market outlook is still down. In addition, the Fed's Open Market Committee meeting on interest rates to be held next Tuesday and Wednesday is likely to bring bad news for gold. Regarding the Syrian issue, whether Russia's proposal is to avoid war or delay time, it will alleviate market concerns, which will severely hit the safe-haven nature of precious metals. Therefore, we believe that in the week when no major economic data is released, risk aversion will dominate the trend of gold. We recommend holding a small amount of short orders or holding a small amount of long gold contracts, while configuring short silver contracts based on comparison.
Xinhuanet, Chicago, September 20 (Reporter Zhu Zhu) As Italy’s sovereign credit rating was downgraded, the market’s risk aversion sentiment rose, which supported a strong rebound in the international gold price on the 20th, almost regaining all yesterday’s decline and regaining its position. 1800 US dollars per ounce mark.
Chen Jinlin summed up a set of practices, that is, when he invested 30 lots of silver T+D, 15 of them, regardless of short-term fluctuations, insisted on long positions until the target price was 8,000 yuan per kilogram. On this basis, we will operate 10 more short-term moves, sometimes long and sometimes short, selling high and buying low, fast forward and fast exit to make a profit.
On the last trading day (8th), the market was closed for one day due to the Dragon Boat Festival holiday. But the release of Beijing's data has not been suspended. A good trade account pushed up precious metals such as gold during the Asian session. However, the signing of a ceasefire agreement between the strong US dollar and Ukraine has suppressed precious metals. As of yesterday's close, London Gold fell by US$13.05 to close at US$1255.25, a decrease of 1.03%; spot silver closed at US$19, a decrease of US$0.19, a decrease of 0.99%.
Affected by investor profit-taking operations and the strengthening of the U.S. dollar, gold futures prices on the New York Mercantile Exchange continued to fall on Friday. On that day, the August contract, the most actively traded in the market, fell by US$19.6 per ounce to close at US$1500.9, a cumulative decline of 3% in a week, setting a recent low. Yesterday, the reporter visited the gold jewelry sales counters in the city and found that the retail price of thousand pure gold jewePrecious metals and diamonds Johnstownlry fell by 5 yuan per gram, and the price of brand gold stores such as Chow Tai Fook fell below the 400 yuan mark for the first time in nearly two months. At the same time, some gold stores are still on sale. .
However, Long Ling, a researcher at Industrial Futures, said that in the past one or two months, the correlation between gold and crude oil prices has dropped sharply, which means that gold and black gold are no longer closely related. Generally speaking, rising oil prices may bring inflationary pressures, causing assets to enter the inflation-resistant gold market, thereby pushing up the price of gold; at the same time, tensions in the political situation in oil-producing regions may also promote the prices of both. But in today's era when inflationary pressure is not great and the geopolitical situation is relatively easing, there is a certain disconnect between the two prices.
Yesterday, the 7th Annual Conference of Precious Metals was held in Guangzhou. Tan Yaling, director of the Foreign Exchange Investment Research Institute, pointed out that overseas markets have kidnapped the development environment of the RMB. It has been appreciated for eight consecutive years, mobilizing extreme market sentiment, and virtual arbitrage speculation is prevalent, not only weakening it. In order to gain competitiveness, huge risks are also accumulated.