From the perspective of international fund trends, the CFTC gold position report shows that as of the week of April 19, the fund held 274,208 long COMEX contracts, 59,282 short positions, and 214,926 net long positions. The long position of the fund accounted for more than 50% of the total position, indicPrecious metal spotating that the fund is still optimistic about the gold price.
1. According to data released by the Institute for Supply Management on Thursday, the US August ISM Manufacturing Purchasing Managers Index (PMI) was 50.6, which is still above the 50 showing the expansion of the manufacturing industry, and is expected to be 48.5.
On October 31, the New York Mercantile Exchange gold futures closed down. The settlement price of the December gold futures contract fell to US$1725.2 per ounce, a drop of 1.3%. On November 1, the main 1206 gold contract on the Futures Exchange closed at 352.66 yuan per gram, a decrease of 1.32 yuan from the settlement price of the previous trading day; the gold futures contract for October 2012 delivery on the Tokyo Commodity Exchange closed down 1.19%.
Silver relies heavily on investment demand and faces greater risk of correction. At the same time, platinum group metals 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.
If it is bought in January and sold in April, the profit can reach 8%-9%. A wealth management manager of China Merchants Bank recommended to reporters yesterday that the reason why the current income can be higher than the increase in international gold prices is because the professional team of the fund is better than pure physical gold bars in risk prevention.
However, the Central Bank of Cyprus immediately denied that it would sell gold. A spokesman for the country’s central bank said that such issues have never been discussed before and have not been discussed now. Market anaPrecious metal spotlysts pointed out that even if the Central Bank of Cyprus sells gold as rumors, a trading volume of less than 10 tons will hardly affect the long-term balance of supply and demand in the market.