Affected by the strength of the U.S. dollar and the easing of the situation in Russia anPrecious metal spotd Ukraine, the precious metals continued their previous decline on the previous trading day (28th). Data information shows that London gold fell 4.5 US dollars to 1258.55 US dollars throughout the day, or 0.36%, a record low since February 6. Spot silver opened from US$19.07, the highest was 19.16, the lowest was US$18.97, and closed at US$19.02, down 4 cents, or 0.21%.
It is undeniable that private trading of spot silver does solve the urgent needs of some jewelry manufacturers, but the primitive and chaotic trading method lurks huge risks. After the incident, Meilong Town, a jewellery town with more than 400 silver jewelry manufacturers and more than 16,000 people engaged in silver processing, suffered a great economic impact.
The precious metals research report released by BNPParibas on Wednesday (13th) shows that silver has outperformed the rest of the precious metals since the beginning of 2011, with an increase of 32%, rising to around US$40 per ounce. The strong performance of silver is very strong. To a certain extent, it comes from the support of sharply rising investment demand.
While the domestic market was still during the May Day holiday, the international market caused an uproar when bin Laden was killed by the US military. Commodities outside the market were sold off, and prices fell one after another. Silver futures, which had a large increase in the previous period, plunged 3.59% on May 2 and plunged 13% at one time, the largest intraday drop since October 2008.
Brazilian officials said that the ministers of the BRIC countries agreed that the global economic recovery may be more fragile and obvious. Now that the inflation pressure is so huge, the sources of support for the economic recovery are gradually shrinking. Although the general trend will continue to improve slowly, it is undeniable that the current level of control is still weak. In addition, the peak season for buying physical gold is approaching. The characteristics of its commodity attributes are gradually emerging, and the market generally believes that this gold price correction does not constitute a long-term bearish turning point, and the idea of low absorption at the right time is still dominant. After two days of correction, the bulls are already beginning to attack again.
4. The British Chamber of Commerce (BCC), the largest business survey agency in the UK, released a research report on Tuesday showing that British companies’ confidence in the fourth quarter of 2012 has increased, whicPrecious metal spoth means that the UK economy is expected to stop its decline and begin in early 2013. Steady growth.
Since the beginning of this year, the international gold price has soared beyond everyone's expectations. Recently, the international gold price once hit a new high of 1920.14 US dollars per ounce, and then plummeted by more than 100 US dollars. However, many investors still believe that the volatility of gold will increase, but the upward trend will continue. More investors are responding quickly and get on this wealth express train.