Gulf Precious Metals Review

Gulf Precious Metals Review

On the 6th, LME aluminum stocks decreased by 7474 tonGulf Precious Metals Reviews to 467345 million tons, and the total amount gradually moved away from the historical high above 4.7 million tons. Strong demand this year has pushed aluminum prices higher. At the close of the day, the unofficial settlement price of 3-month aluminum was $2656.5 per ton, up $22 or 0.8% from the previous trading day.

After the global financial tsunami caused by the subprime mortgage crisis in 2008, the price of gold fell from a high of US$1,033 per ounce to below US$700 per ounce due to the skyrocketing US dollar index and extreme market panic. After global central banks lowered interest rates to unprecedented lows and substantially expanded their balance sheets, stimulated by abundant market liquidity, gold prices rose all the way to $1,900 per ounce in 2011, and then gradually pulled back to per ounce. The level is around $1550.

My 800,000 yuan is gone. Sitting on the side, Mr. Wang from Zhengzhou, Henan sighed while smoking. If it was a normal liquidation, I would recognize it, but why did the system start to be closed on Thursday night, and I was liquidated only after 1am on Saturday, Friday this day It fell by nearly 1,000 points. He continued to murmur again, watching the money was gone, and my stop loss operation was invalidated by the system by default. An investor in Yantai who had lost more than 2 million yuan then said that I was worse than them, and I went through the warehouse, but now I owe them more than 10,000 yuan.

This trading day will announce Australia’s June seasonal adjustment construction permit, Japan’s June labor cash income, Germany’s June actual retail sales, France’s June PPI, Germany’s July seasonally adjusted unemployment rate and total number of unemployed persons, Italy’s June unemployment rate, Euro The unemployment rate in June, the initial value of the Eurozone reconciled CPI in July, the initial value of the Italian CPI in July and the PPI in June, the GDP in May of Canada, the personal consumption expenditure price index in the United States in June, and the Chicago purchasing managers index in July in the United States.

On Monday (July 15) late in New York City, spot gold fell slightly to 1,284.85 US dollars per ounce. Gold prices fluctuated very sharply during the day. Gold prices in the Asian market rose all the way, oscillating down after hitting as high as $1,294.74 per ounce; the US dollar index became stronger during the European and American hours, which put gold prices under pressure and hit a daily low of $1273.85 per ounce; Boosted by weak US retail data, gold prices rebounded sharply. Whether the price of gold can continue the rebound since the end of June depends on the testimony of Bernanke on Wednesday (July 17).

On the last trading day (15th), the US dollar index rose slightly, but it did not affect the support of low buying for the price of gold. After falling for 5 consecutive trading days, gold and other precious metals closed up yesterday. According to data, as of the close, London Gold was reported at US$1,232.25, an increase of US$4.15, an increase of 0.34%; spot silver followed the upward trend of gold and closedGulf Precious Metals Review up 4 cents to US$18.66, an increase of 0.21%.

From an institutional report, Barclays Capital pointed out that the recent sell-off of gold prices has brought a good buying opportunity, and many institutional investors have chosen to intervene on dips. Deutsche Bank predicts that the price of gold will reach $1,571 this year. The world-renowned precious metals research consulting company GFMS predicts that the price of gold will reach $1,600 per ounce before the end of this year.

There has been no bad news in the Eurozone recently, and the market has shifted its focus to May non-agricultural employment data to be released at 20:30 Beijing time on Friday, as investors expect non-agricultural employment data to increase substantially, and recent economic data has performed well. , The market risk appetite improved, and gold safe-haven buying orders shrank further, and investors flee the gold market with profits.

In early 2008, under the impact of the financial crisis, the price of precious metals rose sharply. In just a few months, the international platinum price soared from around US$1,500 per ounce to a historical peak of US$2,273 per ounce. The domestic platinum price has also skyrocketed. In March 2008, the price of platinum was more than twice that of gold.