July is like a fire, and the eleven consecutive suns that have not been seen in 30 years of gold are destined to make this fiery July passionate. The price of gold has risen for two consecutive weeks, standing above the $1,600 mark, setting a new historical record, and has become a beautiful landscape in the recent market, quickly igniting the enthusiasm of gold investorsChicago Precious Metals Exchange.
Everyone has seen the hot silver transaction situation, said Wang Ruilei, chief analyst of Gosaier Gold and Silver. The average daily turnover of the Gold Exchange (T+D) during the peak period of silver rise in April this year was 16.707 billion yuan, which has given many examples a demonstration. If silver trading remains hot, then daily gaining gold is not a dream. Even if the daily turnover of exchanges in these places is only a fraction of them, even if there is 1 billion yuan, then according to their handling fees of about one thousandth, there will be 1 million handling fee incomes every day, which is financially Great motivation.
Commerzbank (Commerzbank) analyst Eugen Weinberg said: The price of gold has been stagnant for a long time since the fall at the beginning of the month, and may stay at the level of 1,000. Although the debt crisis has brought some safe-haven buying, but gold can move on. Not as good as before.
However, as the question and answer deepened, Bernanke had to admit that there were huge differences of opinion within the Fed. The minutes of the June interest rate meeting announced earlier indicate that the Federal Open Market Committee (FOMC) has different opinions on the direction of monetary policy. Some members who tend to be hawks support the end of QE and tighten monetary policy as soon as possible, and dovish members have also appeared. A certain degree of differentiation.
Description of the trend on Wednesday (June 22): The Federal Reserve announced that it will keep interest rates unchanged and that it will maintain the benchmark interest rate at an extremely low level for a long time. Spot gold once rose sharply, although it fell back due to the strengthening of the US dollar. Eventually closed slightly higher. The daily candlestick chart shows that spot gold closed today at a small yang line with upper and lower shadows. During the Asian session, spot gold maintained a sideways trend; spot gold fell moderately in the early European session; spot gold rose sharply during the European and New York session morning sessions, setting a new intraday high of US$1,557.90 per ounce; in the midday session of the New York session , Spot gold fluctuated and fell. Spot gold hit a maximum of 1,557.90 US dollars / ounce, the lowest fell to 1,541.10 US dollars / ounce, to close at 1,549.70 US dollars / ounce, the previous trading day closed at 1,546.69 US dollars / ounce, an increase of 3.01 US dollars / ounce, an increase of 0.19%. Fundamental positive factors: 1. The Federal Reserve announced on Wednesday that it will maintain interest rates in the 0-0.25% range with a 10-0 vote, which is in line with previous market expectations. The Fed stated that the economic recovery is slower than expected and will maintain the benchmark interest rate at an extremely low level for a long time. 2. Moody's said on Wednesday that if the United States slightly raises the bond issuance ceiling, it will only postpone its rating on the list of possible downgrades. After the United States temporarily fixes the bond issuance restrictions, it will still consider whether the United States' stable rating outlook is appropriate. . 3. SPDRGoldTrust, the world's largest gold exchange-traded fund (ETF), stated that its gold holdings as of June 21 remained unchanged at 1,209.14 tons. 4. The French National Bureau of Statistics (Insee) said on Wednesday that France's June INSEE business confidence index was 109, which is expected to be 106.0. Fundamental negative factors: 1. Eurozone data released on Wednesday showed that the Eurozone consumer confidence index fell to -10 in June, and it was revised to -9.9 in May. The EU consumer confidence index fell to -11.1 in May from -10.7 in May. 2. Eurostat said on Wednesday that industrial orders in the euro zone in April increased by 0.7% from the previous month and 8.6% from the same period last year; Estimates are an increase of 1.0% and 14.2% respectively. Technical analysis: The daily candlestick chart shows that spot gold closed today at a small yang line with upper and lower shadows. Technically, the daily resistance of spot gold is located at the high of May 2 at $1,574.60 per ounce and the high of April 29 at $1,569.00 per ounce; the support level is at the low of June 13 at $1,510.80 per ounce. And the May 20 low of $1,487.10 per ounce. Outlook for the future, StandardBank analyst WalterdeWet said that investors are more willing to go long before the Federal Reserve decision is announced. If the situation in Europe and the United States is considered comprehensively, gold is bound to be biased towards the upside. deWet also pointed out that although there have been many physical selling orders during the rise of gold, overall buying interest in the physical market is greater than selling pressure. Mitsubishi (Mitsubishi) analyst Matthew Turner pointed out that compared with other market investors, some gold market investors believe that the Fed is more likely to launch QE3, so they must pay attention to the reaction of gold investors, who are more sensitive to the direction of the Fed’s monetary policy. . Focus on Thursday, the UK’s June CBI retail sales gap, the number of initial jobless claims in the United States after the seasonal adjustment last week, the total number of new home sales in the United States in May Annualized Brussels EU Council of Ministers
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, WaChicago Precious Metals Exchangeng 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.
The strong earthquake that occurred in Japan on March 11 gradually developed into a nuclear leakage accident in Japan. As a safe haven in turmoil, the gold market was once affected by emergencies and rose rapidly. However, after entering this week, the international gold market has once again undergone a sudden change. The panicked gold suddenly dived and fell straight below the $1,400 per ounce mark.
3. Fotis Kouvelis, the leader of the Greek Left Party (GreecesDemocraticLeftparty), who will play a decisive role in the process of re-election and establishment of a coalition government, said on Monday that whether to support Greece’s largest anti-rescue party depends on whether it can ensure that Greece remains in the euro zone .
FX168 Financial News (Hong Kong) reported on Wednesday (March 1) that due to the second consecutive month of rising precious metals, the company’s February sales of American Eagle gold coins fell to a 14-month low. , And silver coin sales have also fallen sharply. According to the data, the United States Mint sold 27,500 ounces of hawkish gold coins in February, the lowest level since December 2015, a sharp drop of 67% year-on-year; February sales of hawkish silver coins were only slightly higher than 1.2 million ounces, compared with February 2016 Tumbled 75%. Different from weak coin sales, the world's largest gold ETF, SPDR gold ETF, had accumulated inflows of more than 5% in February this year. This is the first monthly inflow since September last year. Geopolitical risks have boosted investor demand for hedging. Analysts said that it is expected that the tight elections in the Netherlands, France and Germany this year will help support the price of gold (1233.60, 0.70, 0.06%), although the Fed's rate hike may constitute suppression. However, the world's largest silver (17.82, 0.07, 0.39%) ETF, iShares Silver Trust, had a slight outflow of 0.1% in its holdings in February this year, and it was also the fifth consecutive month of outflows.
Cao Zhongzhong: I am relatively pessimistic about the copper price trend, and it may usher in a real decline after a short rise. From the perspective of financial attributes, the performance of copper prices is stronger than that of many agricultural products. Once QE3 is launched, the pain may be more obvious. The current international economic situation is generally pessimistic, the overall demand for non-ferrous metals will gradually decline, and the fundamentals do not support their commodity attributes. In the two power games, the commodity attributes of non-ferrous metals will ultimately prevail. Technically, copper prices may rebound briefly. But the general trend is not optimistic. It is recommended to be cautious about non-ferrous metals.