2. The People's Bank of China (PBOC) decided to increase the RMB deposit reserve ratio of deposit-taking financial institutions by 0.5 percentage points from May 18, 2011. This is the fifth time that the central bank has raised the deposit reserve ratio this year, and it is also the eleventAAA precious metalsh increase since last year. This will bring the deposit reserve ratio of large financial institutions to a historical high of 21.00%.
4. At the same time, SPDRGoldTrust, the world's largest gold exchange traded fund (ETF), has lightened its positions continuously last week. On October 21, its gold holdings fell to 1,298.266 tons, and as of October 15 it was 1,301.912 tons. . Its gold holdings hit a record high of 1,320.436 tons on June 29. The continued lightening of gold ETFs indicates that the market's demand for gold has decreased, suppressing market sentiment.
On that day, the price of silver futures for delivery in May 2013 fell 55.3 cents to close at $28.432 per ounce, a decrease of 1.91%. The price of platinum futures for delivery in April 2013 fell by 16.6 US dollars to close at 1583.5 US dollars per ounce, a decrease of 1.04%.
On the evening of December 14, the XAGUSD spot silver price rebounded and went up around 20:40, but it turned sharply after 21:00, dropping from around 6140 to below 5900. During this period, there were many investors in Tiangui. It reflects that it was unable to operate due to a failure of the trading system, and some investors were forced to liquidate their positions due to liquidation, and only some investors who set stop-loss and take-profit points were spared.
Judging from the current situation, European regulators will not let the European five pigs (referring to the five countries of Portugal, Italy, Ireland, Greece, and Spain with public deficits of more than 3% and facing national debt crises) leave aside, but if they want to save Europe The five pigs, the only way that can be adopted is for the five countries to exchange fiscal austerity plans for financial assistance from international financial institutions.
The Kitco Gold Survey has seen dramatic changes in mass investors. In the past few weeks, public investors who generally believed that gold would rise have all agreed that gold would fall this week. 450 public investors participated in the survey this week, of which only 116, or 26%, believe that the price oAAA precious metalsf gold will rise this week; 299, or 66%, believe that the price of gold will continue to fall this week; another 35, or 8 % Has a neutral view on gold prices.
Wyckoff pointed out that, on the upside, if it effectively breaks the 50-day moving average at 1245.50, it will look towards the strong resistance of 1267.50. If it continues to break, it is expected to reach the 1272 downward trend resistance at the end of August. On the downside, if it breaks below the 1227 line, it will look towards the strong resistance at the 1212.60 line, and continue to break below the 1200 integer mark (the support level for the downtrend at the end of October).
The leaders of the mining industry said at the Global Mining and Steel Summit (ReutersGlobalMiningandSteelSummit) last Friday that production costs have been plagued by the industry for a year, but the current situation has improved significantly. The fall in the prices of energy, chemical reagents and steel, as well as the strengthening of the U.S. dollar, have reduced the operating costs of miners in other countries. In particular, the price of gold remains strong, which benefits gold producers.