The latest statistics released by the Gold Association on February 6 showed that the gold output in 2012 exceeded the 400-ton mark, reaching 403.047 tons, an increase of 42.090 tons over the previous year, an increase of 11.66%, and Precious metals summitanother record high, ranking first in the world for six consecutive years. .
In August, Syria’s use of chemical weapons to slaughter civilians caused possible US military strikes, triggering investors’ risk aversion, and international spot gold rose 5.3%. At the same time, according to foreign media statistics, the outflow of gold ETP holdings in August was only 16.8 metric tons, the lowest level of outflow this year.
Mainly because the Chicago Mercantile Exchange (CME) announced an increase in gold and silver futures trading margins, international spot gold and silver continued their decline in early Asia-Pacific trading on Monday (September 26). After falling quickly through several key technical support levels last Friday, analysts expect gold and silver to pull back further. International spot gold fell sharply in intraday trading last Friday, hitting a minimum of about $1,628, falling below the 100-day moving average for the first time since February. At the same time, spot silver fell below $30 and plummeted after falling below the 200-day moving average at $36.00. CME said after the market closed last Friday that since this week, it has raised the margins for gold and silver futures trading by 21% and 16%, respectively. The speculative margin requirement for new Comex100 gold futures positions will be raised to $11,475 per contract, and the margin requirement for holding positions overnight will be $8,500 per contract. The margin requirements for both manufacturers and consumers for new and overnight positions are $8,500 per contract. The speculative margin requirement for new Comex5000 silver futures positions was raised to $24,875 per contract, and the margin requirement for positions held overnight was $18,500. Traders said that many market participants bought gold at USD 1,400-1,662. After the trading margin is increased, many investors are expected to accelerate their unwinding of positions. ScotiaMocatta pointed out that the double top trend has been established after falling below $1704, and the medium-term rise of gold has ended. The downside target points to $1488. Global Man Financial (MFGlobal) analyst Tom Pawlicki pointed out that gold is expected to rebound from the sharp decline, support may come from the efforts of policymakers to avoid economic recession, but on the other hand, the future of Greece is still uncertain Sexual factors. Pawlicki predicts that gold will continue to decline in the next few weeks, testing $1,580, which is the 62% retracement of the July-August rise. At 08:23 Beijing time, spot gold was reported at US$1,652.55 per ounce, and spot silver was reported at US$30.82 per ounce.
Xinhuanet, Nanchang, January 15 (Ouyang Bin) Vice President of the Gold Investment Research Institute Xi Jianhua said at the wealth management salon of Jiangxi Benro Investment Co., Ltd. on the 14th that in view of the recent increase in uncertainty in the international market, domestic inflationary pressure is relatively high , Gold will still be the first choice in the investment and wealth management market in 2012.
In addition, the plunge in oil prices has also affected the revenues and expenditures of related companies, further affecting the stock market. Affected by the sharp drop in oil prices, Exxon Mobil's expected spending cuts are also disappointing, and the US stock market plummeted again on Tuesday. On Tuesday, the Dow plunged 295.64 points, or 1.8%, to 16,153.54 points. The S&P 500 Index fell 36.35 points, or 1.87%, to 1,903.03 points. The Nasdaq fell 103.42 points, or 2.24%, to 4,516.95.
In February and March 2009, the price of gold broke through one thousand again. This time it was because the market believed that the financial systems in the United States and Europe wePrecious metals summitre almost insolvent, and the governments of many countries were unable to provide guarantees for deposits or financial systems—those A bank that is too big to fail is also too big to save.
Mike Frawley, head of metal trading at Newedge, said: Hedge funds, large macro funds, etc., many traders not only have to close long positions, but also sell short. The decline in silver also highlights that silver is a more volatile asset than gold because the market for silver is smaller.
Since 2010, in the tenth consecutive year of gold rising, the market has begun to debate whether there is a bubble in gold. In September of that year, investment crocodile Soros put forward the view that gold would be the ultimate bubble.
In addition to macro factors, the reverse relationship between gold and the US dollar also dominates the trend of gold prices. In the past two years, the European debt crisis concealed the importance of the US debt crisis and fiscal problems. However, as the US presidential election and congressional elections approach at the end of this year, the focus of the market will shift to US fiscal issues and political disputes. Historically, during times of economic difficulties in the United States and a downturn in the US dollar, gold has generally performed well.
From the perspective of investment demand, the latest statistics show that as of last week, all global gold ETF holdings set a new record high, close to 2,397 tons. The world's largest gold ETF-SPDRGoldTrust's holdings also rose 3.33 tons last week, with a holding level of 1284.61 tons. Therefore, some analysts pointed out that investors still have strong interest in gold, and relatively strong investment demand makes gold prices still possible to rise later.