The Standard & Poor's-Case Schiller U.S. Housing Price Report released on the 24th showed that the housing price index of the twenty largest U.S. cities fell by 0.8% month-on-month in February, and the year-on-year decline expanded to 3.5%. The index also hit a record since October 2002. The lowest level indicates that US real estate is still weak. At the same time, the Consumer ConfPrecious metals market news todayidence Index of the American Association of Large Businesses also fell to 69.2 in April from 69.5 in March.
Nowadays, with the rapid increase in investment costs, many financial investors tend to ignore the subsequent financial risks while pursuing high returns. Fortunately, the global financial crisis in 2008 and the series of chain reactions it caused had far less impact on my country's economy than other Western countries.
In addition, the following two factors have led to a short-lived gold price rebound: First, the Central Bank of India (RBI) said on Tuesday (June 25) that it will no longer provide loans related to jewelry and gold coins to banks in rural areas of the country as a reduction India's demand for gold and a new round of measures to reduce the current account deficit. Since the sharp drop in gold prices in April triggered strong buying in India, the country's gold imports in May broke a record with 162 metric tons. Due to the lack of financial institutions like banks in rural areas, investors there have a strong desire to buy gold.
See how my chain is, it is nearly 10% lower than the original price. Recently, a post on how to save money and buy gold has been reposted by major forums. The host, Miss Tian, showed the recently harvested gold chain on the forum. It was a bargain she made using the price difference between investment gold bars and gold jewelry, which was 300 yuan cheaper.
The actual one-month US dollar loan interest rate is still LIBOR plus 80-100 basis points over the same period, which is at least 56 basis points higher than GOFO. This allows some large money market hedge funds to see arbitrage opportunities. Chen Weijian revealed that they first borrowed physical gold positions from gold brokers at the GOFO price, and after cashing out in the futures market, they then borrowed them to European banks, earning at least 70-100 basis points of risk-free spreads.
Now the silver T+D risk is too great, even if the gold exchange does not increase the margin ratio, I myself dare not take a heavy position. A speculator told reporters yesterday that as the price of silver continues to rise, his long position is gradually reducing, Precious metals market news todayand now he has a very light position.
MKSFinance said that the price of gold is trying to stabilize the 21-day moving average of $1,655 per ounce. In view of the decline in fund holdings in the past few weeks, if the demand for hedging continues, gold prices have the potential to continue to rise. The upside target is US$1,684 per ounce and the 200-day moving average US$1,694 per ounce.
There is no doubt that the risk aversion caused by the European debt crisis will continue to impact the gold market. What's more, bailing out the market often means investing more funds, which will also lead to a relatively loose currency environment in the world. In the short term, the European sovereign debt crisis has played a role in promoting gold prices. The hedge fund manager thinks this.
According to the information provided in the post, the reporter contacted the account manager of an investment consulting company. He told reporters that the company can provide a variety of financial derivatives investment services, including gold speculation. The specific business content is not clear on the phone. You can come to our company for an interview. When you arrive, tell the front desk to find Xiao Gong.