Reid admitted to manipulating the US precious metals market for about seven years.

Reid admitted to manipulating the US precious metals market for about seven years.

With the deepening of theReid admitted to manipulating the US precious metals market for about seven years. debt crisis in the Eurozone, US Treasuries and the US dollar have suddenly become more attractive than gold. As concerns about Greece's possible default and tightening of credit in Europe prompted investors to sell risky assets, global stock markets fell sharply on Monday. But it is worth noting that investors did not show great buying interest in gold. They sold gold to raise cash, and instead bought dollars and yen to seek safety.

The inflation rate has not yet seen a rising trend, which will not be conducive to the strengthening of gold prices. Investors would rather invest their funds in higher-risk assets to obtain the benefits of economic recovery than hold safe-haven gold positions. If this situation cannot be improved, gold will remain weak in the medium to long term. Bao Huhe, an expert in the bank's treasury business department, said.

According to data released by the International Monetary Fund (IMF) on Tuesday (February 25), the Turkish Central Bank’s gold reserves plummeted in January 2014. Analysts pointed out that this may be because the Turkish lira plummeted in January, causing local commercial banks to subscribe from the central bank. Take out a lot of gold. The Central Bank of Turkey is the only central bank that incorporates commercial bank gold reserves into official gold reserves.

The drop in commodity prices and a wave of gold sell-offs have led to a decline in assets invested in commodities. Barclays said that in the second quarter, investors withdrew US$20.4 billion from exchange-traded funds (ETF) holdings in precious metals, which caused the price of gold to plummet.

Yesterday, the Indian government once again raised the gold import tariff, the tax rate was raised from 8% in mid-June to 10%, this is the fourth time since 2013 and the seventh time since 2012. The cumulative tariff on imported gold has increased by more than five times. Prior to February 2012, the tariff on gold imports was less than 2%. The silver tariff rate was also adjusted from 6% to 10% during the same period.

In Asian markets on ThuReid admitted to manipulating the US precious metals market for about seven years.rsday (September 29), the international spot gold bottomed out and rose to the top of the flat plate, and once again stood above the 1,000-six ​​mark. The highest intraday hit US$1621.05 per ounce, and it is currently trading at around US$1617. Market risk sentiment improved. Asia-Pacific stock markets and bulk commodities rebounded from their intraday lows. The U.S. dollar index weakened again, and bargain hunting flooded into the gold market, supporting the rise of gold prices.

At present, due to the global economic recession and the general decline in commodities, the inflation level of major global economies continues to decline. The latest CPI in June fell to 2.2%, the lowest since February 2010; the US CPI fell to 1.7% in May. The month-on-month decline was 0.3%, the lowest rate since December 2008. The Eurozone CPI fell by 0.1% month-on-month in May, and the year-on-year growth rate dropped from 2.6% in April to 2.4%.

On Wednesday night, the international gold price continued its downward trend, but it was as low as $1,579.30 per ounce. From a graphic point of view, it was exactly at the support of the blue trend line drawn. Judging from the current trend, the 1680 support for the gold price is more effective. The catch is that the rebound is not strong, less than $20. If the increase cannot be expanded, the bulls will still face strong downward pressure.

On that day, the price of silver futures for delivery in July 2013 rose 47.8 cents to close at $22.721 per ounce, an increase of 2.15%. The price of platinum futures for delivery in July 2013 rose 35.6 US dollars to close at 1497.4 US dollars per ounce, an increase of 2.44%.