Asian precious metals market

Asian precious metals market

According to the plan, the leaders of EU member states are scheduled to hold a regular summer summit next week, which is considered to be the deadline for the EU to introduce a new Greek rescue plan. However, the deadlock in the meeting on the 14th cast a shadow over the introduction of a new Greek rescue plan. Overseas media analysis believes that, in full view, whether the euro zone can avoid a sovereign debt default for the first time depends on whether German Chancellor MerkelAsian precious metals market and French President Nicolas Sarkozy can resolve their differences during their meeting in Berlin on the 17th of this month.

On September 14, contrary to most people's expectations at the beginning of the year, the price of gold broke a record high of US$1265 per ounce, setting a new record of US$1282.9. Since the 2008 international financial crisis, gold has become the best investment product. It is the only investment product that has hit a record high for the third time, an increase of 24.2% from US$1,032 in March 2008. In second place is silver, which has approached an all-time high.

Judging from the market situation of silver (T+D), after the direct lower limit opened in the morning, the price of buying tickets will also increase. At 13:32, silver (T+D) rebounded to 10039 yuan, a decline of 4.9%, but then the price fell again, closing at 9845 yuan, down 6.79%. The trading volume dropped to 1375512 kg, and the open interest dropped to 2913076.

On the 13th, a customer came to a gold flagship store and bought 6 kilograms of gold bars at a total price of more than 1.4 million yuan. Just like the property market, some consumers also like to chase the rise rather than buy the fall when buying gold. The general manager of the flagship store, General Manager Sun, analyzed that under the depreciation of the U.S. dollar and inflation expectations, gold is still the best value-preserving tool. Investors will keep it for a long time after buying it back and do not care about the temporary rise or fall. In fact, under the recent surge in gold, the daily repurchase volume is also very small.

The transformation of economic development mode and industrial upgrading have higher requirements for the futures market to better serve the development of the real economy, and for our firm to be able to launch commodities such as silver, asphalt, crude oil, and commodity index futures, options, carbon emission rights and other derivatives. Strong market voice. The chairman of the Shanghai Futures Exchange, Wang Lihua, said at the meeting that he will strive to launch silver this year; take advantage of the successful trial implementation of bonded delivery, cooperate with the opening of the capital market and the country’s strategic steps to promote the internationalization of the RMB, and promote the development of crude oil futures; further develop non-ferrous metal futures indexes and options Research and release the non-ferrous metal index of the previous period to the public in due course.

On the same day, the price of silver futures for delivery in July fell 95.9 cents to close at 28.529 US dollars per ounce, a decrease of 3.3%. The price of platinum futures for delivery in July fell by 28.3 US dollars per ounce to close aAsian precious metals markett 1440.9 US dollars, a decrease of 1.9%.

Due to the delay in making progress on the European debt issue, international gold prices fluctuated downward last week, reaching a minimum of 1602.74 US dollars per ounce. Last weekend's EU summit brought hope to the market. After entering this week, gold rebounded slightly under the leadership of the euro and major stock indexes, reaching around $1654 per ounce at midday on Tuesday. Gold prices closed at 341.50 yuan/g on Tuesday. The second EU summit held this Wednesday will undoubtedly become the focus of market attention.

This trading day will announce Australia's second quarter CPI, Germany's July Ifo business series index, the UK's second quarter GDP initial value, the UK's July CBI industrial order expected difference, and the United States' annualized total new home sales in June. The Central Bank of Portugal will release a survey report on bank lending; the European Central Bank will release a survey on bank lending in the third quarter; the International Monetary Fund (IMF)/EU delegation is expected to visit Hungary to start negotiations on financing issues.

Emerging market stocks, currencies, and the U.S. dollar are the assets furthest from the bubble boundary, followed by high-yield and emerging market fixed-income assets, while gold and U.S. Treasuries are closest to the fringe of the bubble. JP Morgan Global Chief Economist Bruce Kasman and Global Asset Allocation and Transaction Strategy Director Jan Loeys said recently.

However, despite the short-term trend is not optimistic. However, there is still no lack of optimistic expectations on the market for gold prices in the second half of the year. A recent report issued by Minsheng Bank pointed out that although the Fed did not launch a new round of quantitative easing at the end of June, the pressure of the US general election or fiscal cliff in the second half of the year may still force the Fed to introduce new monetary stimulus measures. If the Federal Reserve, the Eurozone, and other central banks all use money again to avoid a further economic downturn, then when the economies of various countries stabilize, the level of inflation will rise again, which will form a strong support for gold prices. This means that in the context of rising inflation expectations in the future, the performance of gold prices in the second half of the year is expected to be significantly better than that of the first half.