The EU summit held this weekend is now the focus of the market. According to the "Wall Street Journal", EU lawyers opposed the European Financial Stability FunSouthern Precious Metal Exchanged's plan to provide guarantees for bonds. EU officials have turned their attention to the European Financial Stability Fund's plan to provide funds to troubled countries.
However, Jinding Group President Li Hengdi said that with the landing of QE3, the quantitative easing policy will intensify the market's inflation expectations, gold will also usher in a period of sharp rise, and the international gold price will be just around the corner. In the long run, the international credit system will continue to be turbulent. The international credit currency represented by the euro and the US dollar will not escape the fate of depreciation. The gold price as its opposite will inevitably rise, and the tide of asset reserve adjustment and strong investment demand will continue to push up gold prices.
In recent days, the world’s largest gold trading open-end fund SPDR’s gold holdings have remained unchanged, indicating that institutional clients’ trading is thin and the prospects for gold prices are unclear. It is difficult to break the historical high of $1,575 per ounce in the near future. The market may start a new round of growth. High callback. Li Yanxuan, a capital trader at a large commercial bank, said.
The failure of the talks on July 22 means that the US government has no time to allow time for Congress to pass a bill to increase the issuance ceiling of national debt, and the probability of default on national debt has increased significantly. Zhang Gang revealed. Last weekend, Zhang Gang’s hedge fund quickly convened an emergency meeting and decided to reduce the previously over-allocated stocks and treasury bonds to a normal benchmark ratio. In addition to increasing cash assets by 5%-10%, all other cash assets were invested in gold and silver. Dominated by commodity positions.
Norman Chan, head of the investment department of Calibre Asset Management, a subsidiary of the National Australia Bank (NAB), said that due to the disappointing trend of gold in May, we have reduced our gold position and increased fixed income investment. In addition, gold could not reflect its safe-haven properties and went down with the stock market. Therefore, it confirmed the deterioration of its fundamental supply and demand situation, and we had to reduce the risk exposure of gold.
Many Asian asset management companies, hedge funds and individual investors are dumping gold. Zhang Ming revealed. And he found that some strange phenomena were hidden in the selling tide. For example, when the price of gold was approaching certain key prices, there were always a batch of large orders that accurately broke the price support line. His first feeling is that some institutions are using black pool trading to lock in short-selling warehouse receipts at certaiSouthern Precious Metal Exchangen key gold prices, and then quickly report them to the exchange when the price approaches, thereby intensifying the wave of gold selling.
In the early morning of July 23, Beijing time, the price of New York gold futures closed up 3.3% on Monday at US$1,336 per ounce, the largest one-day increase in a year. It closed above US$1,300 per ounce for the first time in nearly five weeks, mainly due to the market. It is expected that the demand from this will increase and the exchange rate of the US dollar will fall. And before this, the price of gold once hit a one-month high of $1339.20 per ounce. Weak US existing home sales data in New York City, while traders said there are a large number of funds covering short positions, which greatly boosted gold prices. On the technical daily chart, the gold price resistance focus area is 1340-1350 USD/ounce. However, despite the sharp increase in the price of gold in the day, mid- and long-term analysts are still bearish.
This is the 3-month chart of London Gold. While the futures trend is weak, my country's gold import and export performance is also average. Data from the Hong Kong Census and Statistics Department at the end of August showed that the mainland's net gold imports in July were 21.1 tons, compared with 113.2 tons in July 2013. China's gold exports to Hong Kong fell to 17.9 tons in July from 19.7 tons in June.
Reuters, New York/London, September 21. Gold reversed its earlier decline on Wednesday and rose slightly. Investors are waiting for the Federal Reserve (FED) monetary policy statement and are expected to detail new plans to stimulate U.S. economic growth. The market doubts whether the plan will work.
Klopfenstein said that investors should pay close attention to the closing price of gold, which may mean that gold will enter a period of deep adjustment. If it closes below US$1376, the possibility of market entry adjustment is quite high. But if the price of gold falls too much, the fund will buy gold on dips.
Judging from past laws, gold consumption will enter a climax every year after October. During the National Day Golden Week just past, news from Beijing and Chongqing all showed that gold sales rose by more than 30%. Among them, investment gold bars are the most sought after. During the entire long holiday, there were several purchases of gold bullion investment of more than one million yuan, and some high-profile customers even bought 95 kilograms of investment gold bullion at a time, worth 35 million yuan. Beijing Guohua Shopping Center also has a one-time purchase of 20,000 grams of investment gold bars, with a total value of more than 7 million yuan. In Guangzhou, shops have stopped selling spot gold since September. Buyers are requiredSouthern Precious Metal Exchange to place an order in advance and pick it up after two weeks.