It is esDefine precious metalstimated that many investors doing leveraged silver trading have already blown out their positions in this round of plunge. An industry insider told the "China Business News" reporter that leveraged trading amplifies risks, and continuous sharp declines increase margin requirements, and some investors may not be able to survive.
Judging from the weak rebound trend, the current trend of the gold price is still held by the bears, and the occasional bounce of the bulls cannot reverse the fate of the decline. However, from the perspective of the decline process last Friday, despite the further expansion of the decline, the resistance of the bulls is more obvious, and signs of a short-term bottom are shown on the four-hour chart. It is expected that this week may usher in a real rebound trend.
ANZ Bank (ANZ) said on Wednesday (November 16) that the market’s continued focus on debt problems in Europe, especially Greece and Italy, is expected to push the price of gold to US$1,850 per ounce by the end of this year, and may exceed US$2,000 in 2012. /ounce.
According to TASS News, the information director of the Central Bank of Belarus, Drozdorf, recently revealed to the media that the People’s Bank of the People’s Bank of China will allocate 20 billion yuan (approximately US$3 billion) to the National Bank of Belarus in the near future. Included in the national gold and foreign exchange reserves.
On the previous 25th, the price of gold once hit a three-week high. Spot gold rose to its highest level since May 4 at US$1532.10 per ounce, and fell to US$1526.05 at the close, but it was still higher than the 1525.75 when the New York market closed on May 24. Dollar. COMEX index June gold futures closed at US$1526.70 per ounce, an increase of 0.22%, and rose to US$1532.30, the highest point since May 4. According to the analysis, the rise in gold prices was boosted by market concerns about the debt crisis of the Eurozone countries and also due to the expiration of the COMEX June gold option.
On the 26th, the Gold Exchange Silver Ag (T+D) opened at 10,572 yuan per kilogram. The highest intraday price reached 10680 yuan per kilogram and the lowest reached 9,700 yuan per kilogram. The closing price was 9900 yuan per kilogram, compared to the previous trading day. It plummeted 786 yuan and fluctuated up and down to 980 yuan in a single Define precious metalsday.
SterlingSmith, a futures expert in the institutional client department of Citigroup (CITI), said on Thursday that gold futures are currently facing resistance near $1,400 per ounce, and there may be little room for upside in the future. This also makes buyers appear defensive.
The price of silver futures for delivery in March fell 1.251 US dollars that day to close at 31.002 US dollars per ounce, a decrease of 3.9%. The price of platinum futures for January delivery fell 28.9 US dollars an ounce to close at 1486.9 US dollars, a decrease of 1.9%.