Deutsche Bank (DeutscheBank) chief economist Joseph LaVorgna said that US retail sales in the fourth quarter were better than expected, and commercial inventories performed well in October, which pushed the dollar up, which put pressure on dollar-denominated comQuality Assurance Precious Metals Companymodities, including gold.
In this regard, Fu Peng, deputy director and chief macroeconomic consultant of the Galaxy Futures Research Center, pointed out that the reason for the different markets in precious metals, agricultural products, industry, and energy is that the global economy is increasingly moving towards stagflation, and the global commodity sector Under the dual effects of stagnation and the liquidity generated to resolve stagnation.
In the last ten days or so, I opened a long position at 9,100 yuan per lot. Mr. Lin recalled that afterwards, the price of silver rose all the way, and every day there was a profit, it was immediately supplemented. At the end of the month, the silver had risen above 10,000 yuan, and I had more than 2 million yuan on the book. At that time, I thought it was a rare big market. The people from the trading company suggested that I make at least part of the profit, but I didn't listen.
Intermoney chief analyst Jose CarlosDiez believes that our bonds have almost turned into junk debt, and will eventually become junk debt. In this case, the key is to observe the reaction of investors and whether the capital outflow stops... Without stopping, there will be more financing problems, and the scale of this rescue will grow from small to large.
On that day, the price of silver futures for December delivery fell 17.3 cents to close at $31.62 per ounce, a decrease of 0.54%. The price of platinum futures for delivery in January 2013 fell by US$12.9 to close at US$1562.7 per ounce, a decrease of 0.82%.
Since the beginning of the year, gold has fallen by nearly 25%, and silver has fallen by as much as 35%. Where should the precious metals market go from here? Is it going back to the prosperous and splendid, or the stars are dim? With the ups and downs of the Fed Chairman Bernanke's voice, precious metals showed a roller coaster rideQuality Assurance Precious Metals Company up and down.
From the perspective of technical trends, the daily chart shows that gold prices are still fluctuating downward in the short term. At the beginning of the week, it rebounded strongly after testing the support near $1250, and surpassed the resistance near $1290. The short-term price formed a wide and disorderly interval consolidation pattern. In the short term, we will pay attention to the struggle for the support level near 1270 US dollars and the resistance level near 1290 US dollars, and wait for the market to break through again. Aggressive investors can chase after a breakthrough and pay attention to position control.
Catherine McLeod-Seltzer, director of BearCreek Mining Company, said in an interview with Kitco on Friday (February 27) that there have been a lot of write-offs in the gold industry, but I think this is preparing for a new start. . She expects the price of gold to have bottomed out and is about to start rising. McLeod-Seltzer pointed out that the entire gold industry is only in a cycle, and I believe we have reached the bottom of this cycle. In addition, the price of gold has begun to fluctuate within a stable range, which is a key part of the bottoming process. McLeod-Seltzer emphasized that mining companies consume 90 million ounces of gold reserves in production each year, and these are irreplaceable, and the supply and demand side will eventually be reflected in the gold price. She added that gold prices need to rise to support those mining companies that are in trouble.