However, in the long run, due to the European debt crisis is far from getting out of the predicament, coupled with the impact of many other factors, the strengthening of gold prices has become the consensus of analysts. A previous report by Deutsche Bank stated that the weak performance of the U.S. dollar, the global negative interest rate environment, and the increasing demand for gold from central banks seeking to diversify foreign exchange reserves will lay the foundation for further strength in gold prices in the medium term. Therefore, the bank maintained its gold price target for the fourth quarter at $1,750 per ounce unchanged. Deutsche Bank also pointed Precious Metal Trading Stationout that for gold, the biggest downside risk in the future is that the Federal Reserve may implement monetary tightening. But Deutsche Bank predicts that the Fed is not expected to tighten monetary policy before the first half of 2012.
On Wednesday (February 20) in the New York foreign exchange market, spot gold prices plunged to a seven-month low. The rise in the US dollar and the news that the Fed may review QE measures in March put pressure on gold futures prices. In addition, the so-called death cross line of the gold price also frightens investors.
The biggest single this weekend was a 5 kg investment gold bar, with a single sales of more than 1.37 million. Said the duty manager of a gold flagship store. It is reported that the store achieved sales of more than 2 million last weekend, an increase of nearly 20% over the same period. The main source of turnover was the sale of investment gold bars.
HSBC Bank (HSBC) pointed out in a report on Tuesday (December 3) that data showed that the sales of gold coins at the US Mint (USMint) in November declined slightly from the previous month. The sales of gold coins have always been considered a barometer for identifying retail investment demand for gold. Previously, whenever the price of gold fell, the gold coin sales of the mint would increase, but November was different, meaning that the current gold market still lacks investment demand.
The U.S. dollar is now being sought after by both long and short sides at the same time. The overall economic outlook is confusing. This year's gold price situation will be more complicated than last year. It is expected that there will be swing investment opportunities in the gold market, but there will be no unilateral rise. At the same time, due to economic uncertainty, there is little room for gold prices to fall. Wang Ruilei said.
Regarding equity-related wealth management products such as linked stocks, we no longer did it last year. Pu Nan, product manPrecious Metal Trading Stationager of the retail banking department of the business department of China CITIC Bank, said that last year banks issued more bank wealth management products that invest in the bond market and interbank deposits, and such products are basically not too risky. They are aimed at 50,000 yuan. Starting group.