The author believes that the trend of international precious metal prices mainly depends on the influence of US factors, especially the trend of the US dollar, and that stabilizing the US dollar is in the fundamentaAugusta Precious Metals Reviewl interests of the United States. In the context of the huge foreign debt of the US government, a stronger dollar is not in the US national interest. It is expected that the price of gold and silver will continue to fluctuate weakly in 2014.
This trading day will announce the French October CPI, the Eurozone’s September industrial output, Switzerland’s November ZEW economic status and investor confidence index, the US October retail sales, the US October PPI, and the US September commercial inventories. In addition, the Bank of England will publish an inflation report and will pay moderate attention to the results of the general election.
In addition, the U.S. dollar moved strongly, the U.S. dollar index broke through the 86.00 mark, and the euro fell below the 1.23 mark again against the U.S. dollar. The strengthening of the U.S. dollar has also hit the price of gold. For investors who buy gold in other currencies, dollar-denominated gold has become more expensive.
The New York Mercantile Exchange (NYMEX) crude oil futures recorded the largest single-day drop in more than a week during trading on Thursday (18th), as the global commodity market fell across the board, after Morgan Stanley and Deutsche Bank AG lowered their adjustments. Their global economic growth expectations.
AU (T+D) gold price opened at 352.88 yuan, the intraday highs and lows were 361.45 yuan and 350.60 yuan respectively; it closed at 360.29 yuan, an increase of 7.42 yuan over the previous trading day, an increase of 2.10%. Volume 35,324 kg.
From the perspective of the commodity attributes of gold, as India and other Asian countries usher in the peak of traditional festivals and weddings,Augusta Precious Metals Review the release of demand for gold jewelry also supports its price breakthrough at this point. Zhang Bingnan said: Although this year's high gold prices have suppressed Indian (physical) demand, the demand for gold in wedding jewelry is rigid, so physical demand also supports the breakthrough of gold prices at this point in time. In the past 20 years, in September of 16 years, gold rose.
Unexpected non-agricultural employment data once caused market sentiment to rise, but then the US Department of Labor's Bureau of Labor Statistics (BLS) issued a statement saying that there were errors in May non-agricultural data. BLS spokesperson Gary Steinberg said that if those who have jobs but are not working are also classified as unemployment, the real unemployment rate in the United States in May will reach about 16.4%, which is higher than the official announcement that day. 13.3% is 3.1 percentage points higher.
In addition, compared with the first half of the holiday season, gold store sales are gradually entering the summer off-season, and various businesses have also held preferential activities. It is reported that this weekend, in addition to lowering the price of gold, platinum and palladium jewelry offers a discount of 10 yuan per gram and a 20% discount on silver jewelry. Guohua Mall will also take advantage of the 33rd anniversary celebration to carry out large-scale promotional activities in early July.
As the negotiations between the two parties are basically at a standstill, investors’ cautious wait-and-see sentiment has intensified. If the two parties cannot reach an agreement as soon as possible, as the August 2 deadline approaches, it may cause global financial market shocks and panic will spread further. Stephen Roberts, analyst at Nomura Securities in Sydney, said.