International Precious Metal Silsbee TX

International Precious Metal Silsbee TX

Patrick Legland, a strategist at Societe Generale in Paris, wrote in an email to customers on Monday (December 23) that the gold plunge is undoubtedly one of the most high-profile events in the market this year. Right now, gold has almost lost its value in 2013. The hedging ability of systemic risks. Previously, whether it was the Italian election, the application of aid loans by Cyprus, the shutdown of the US goverInternational Precious Metal Silsbee TXnment, or the issue of debt ceilings, the price of gold had not risen sharply. In addition, the Fed's unexpected announcement of QE reduction last week is undoubtedly worse for gold.

Citi Institutional Client Group (CitiInstitutionalClientGroup) futures expert SterlingSmith said on Tuesday (November 13) that because investors are concerned about the issue of Greece, the strengthening of the US dollar and the weakening of the euro put pressure on gold prices.

Recently, the price of gold futures has continued to set new historical highs, and has now stood above the $1,500 per ounce mark. A reporter from the Securities Journal recently interviewed many Wall Street analysts. They generally believe that under the general trend of excess liquidity and depreciation of the U.S. dollar, the price of gold may hit the $2,000 per ounce mark in the next two years. More market participants predict that although the price of gold has hit new highs, it has not been overestimated, and the price of gold may eventually reach US$5,000 per ounce.

In 2011, the gold market was turbulent, out of the N form of rushing high, falling sharply, and slowly stabilizing. The international gold price surged from US$1,400 per ounce at the beginning of last year to a record high of US$1,920, and then plunged sharply, with a sharp correction to 1,530 US dollars. , And stabilized above $1600 at the end of the year. The trend of the Year of the Golden Rabbit shocked gold market investors. Some people questioned that the ten-year bull market for gold prices is coming to an end, and there is a fear of gold investment. Gold talks about it one after another.

JPMorgan Chase & Shing lowered its 2013 gold price forecast from the original US$1745 per ounce to US$1595, and lowered its gold price forecast for the second quarter by 18% to US$1,450 per ounce. Merrill Lynch lowered its gold price forecast for this year by 12% to $1,478 per ounce.

Scott Ainsbury, seniInternational Precious Metal Silsbee TXor portfolio manager of GlobalCurrencyProgram, said the company is now reassessing its US dollar position and adjusting its fund allocation accordingly. Ainsbury said the fund has significantly reduced its short US dollar position. He added that there are signs that the dollar's rebound in this round may last a little longer.

On the same day, the most actively traded April contract on the New York Mercantile Exchange gold futures market closed at US$1683.9 per ounce, an increase of US$11.8 or 0.7% from the previous trading day. Suppressed by investors' concerns about Greece's debt problems and the global economic outlook, the price of gold in New York suffered three consecutive trading days of decline, with a cumulative decline of 2.9%.