A gold analyst from Dayang Gold believes that in the medium and long term, the fuEnvironmental Handbook International Precious Metals Experiencendamental factors that support the maintenance of gold prices have not changed substantially. Hot money in the market is constantly testing the upside of the gold market. Doing long on dips is still a relatively safe way of operation.
Buying 200 tons of gold at an average price of US$1,045, the central bank of India’s actions allowed the market to see something other than buying gold. The central bank of India's purchase of 200 tons of IMF's gold this time sent the market the strongest signal to date-to replace US dollar assets with gold. This shows that Asian countries are gradually withdrawing their dollar assets. Cheng Lei pointed out.
In addition, the decline in gold prices on the 28th was also the result of a series of economic data in the United States. Data released by the US Department of Commerce on the 28th showed that, driven by the sharp increase in transportation equipment orders, durable goods orders from US factories in December last year increased by 4.6%, which exceeded market expectations and was much higher than the 0.7% increase in the previous month. On the same day, the American Association of Realtors announced that contracted home sales in the United States fell 4.3% in December last year.
From March to October 2008, when the subprime mortgage crisis was intensifying, the price of gold was sold off along with other commodities, falling from US$1,033 to US$681; what puzzled investors was that the price of gold was borrowed from Europe from May to September 2011. The debt crisis and U.S. debt problems started from 1,500 U.S. dollars and went straight to 2,000 U.S. dollars, hitting a record high of 1923 U.S. dollars. Then, when the U.S. debt problems eased and the European debt crisis intensified, the price of gold fell sharply, especially in the summer of 2012. When worries about Greece or its withdrawal from the euro zone heat up, the price of gold has dropped to $1,550.
On that day, the price of silver futures for delivery in March 2013 rose 66.1 cents to close at $34.431 per ounce, an increase of 1.96%. The price of platinum futures for January delivery rose 7.8 US dollars to close at 1619.5 US dollars per ounce, an increase of 0.48%.
Silver relies heavily on investment demand and faces greater risk of correction. At the same time, platinum group mEnvironmental Handbook International Precious Metals Experienceetals are under pressure due to demand concerns. However, considering the potential power supply tensions brought about by the wage negotiations in South Africa and the political uncertainty surrounding mining ownership in Zimbabwe, the supply of platinum group metals may be affected.
Spot silver, which soared by nearly 30% in April, experienced a thrilling dive yesterday morning. In 11 minutes, the price of silver fell by about 12%. Experts said that a surge will always be accompanied by a fall. Today, the gold exchange will resume trading, and investors should pay attention to risks.
Before the final vote on the US debt issue, metal prices are expected to maintain a volatile trend, but the long-term weakness of the US dollar is likely to increase, and investors' expectations for demand in the second half of the year are still in place. It is expected that Shanghai Aluminum will continue its upward pattern in the short term. Jinrui Futures commodities analyst Huang Dingjun said.