Indeed, the rise in the gold market is not in line with fundamental factors, because apart from thaInternational precious metal fakest, the physical demand for gold in the European and American markets is basically stable, and the impact of market demand on prices is not only lagging, but the current demand growth rate has not fluctuated significantly. Case. The increase in the price of gold caused by the expected depreciation of the dollar is more in line with the actual situation.
Not only is the wealth management products linked to gold no longer profitable only when the price of gold rises, some banks have also launched a paper gold short-selling business. For example, ICBC recently launched the two-way transaction business of personal account gold (paper gold), and fully opened the two-way transaction business of account gold, silver and platinum. When the customer judges that the price of precious metals will go down, they can obtain investment income through the transaction method of selling first and then buying. In addition, the Bank of China also launched a gold speculation transaction called Shuangfangbao, which can buy and sell paper gold in both directions.
On the last trading day (15th), under the pressure of Fed Chairman Yellen's speech and other factors, precious metals such as gold recorded a decline for the second consecutive trading day. Information from the data center shows that London Gold opened at US$1,307, and finally fell all the way down to a minimum of US$1,291.95. At the close, it was reported to US$1294.10, down US$12.85, a decrease of 0.98%; spot silver opened at US$20.91 during the day, with an intraday high of 21.06. The US dollar, the lowest US$20.63, closed down US$0.24 to US$20.66, a decrease of 1.15%.
Since mid-October last year, the international gold price has tested its highs four times and hit a record high on December 7 last year. It has yet to find a breakthrough. Obviously, the gold market is more prone to ups and downs than other commodities, because its special status has always attracted investment funds.
On the 11th, the main contract of COMEX in December, -9.8 US dollars, -0.59%, closed at 1661 US dollars, and the inter-day high and low differences were less than 26 US dollars. Gold began to test the 20-day moving average position from the short position. London Gold, -13.64 US dollars, -0.81%, closed at 1662.58 US dollars.
November 20 (Reporter Liu Hongjie) Recently, international oil prices have seen a wave of rises, but international gold prices have recently recorded their biggest decline in seven weeks. The analysis believes that the strong performance of the US dollar has depressed tInternational precious metal fakeshe price of gold to a certain extent. In the context of the deepening of the European debt crisis and the uncertain outlook of the financial market, the bull market of gold before the Spring Festival may be postponed.
Standard Bank analysts stated in the report that in 2017, the market is priced according to the possibility of 3-4 interest rate hikes, which will have an impact on gold, and the actual yield will rise, especially inflation. mild. He added that because of the restrictions on import quotas, the buying momentum has softened before the new year. Under the pressure of a series of government measures, India has cut off gold, and demand has been blocked.