Today, the Bank of Canada, the Bank of England, and the Bank of Japan decided on interest rates. However, the influence of gold is relatively weak. In addition to the Canadian dollar as a commodity currency, it may have a slightly more impact on the price of gold. The Australian CPI for the fourth quarter announced on the same day also needs to be paid attention to. Investors can pay more attention to the direction of the US dollar that day. It may flInvestor shares in Pioneer Precious Metals and Mining Funductuate in the opposite direction.
Orient Securities believes that the current non-ferrous metal industry stock price has reflected the economic recovery too quickly, and the expectation of metal prices to rise requires further data support. Therefore, it faces increased uncertainty in the future and downgraded the industry rating to neutral, which is difficult to outperform. Market. Also benefiting from liquidity proliferation and inflation expectations, because gold is less sensitive to economic recovery than industrial metals, and there are expectations of resource injection, Orient Securities is relatively optimistic about the gold sub-sector in the industry.
However, Zijin Mining is one of the most active companies in the field of mining acquisitions in Central Asia in recent years. It has initiated many acquisitions of copper, silver and gold mining projects, but most of them ended in failure. Currently, Zijin Mining owns the Tajikistan ZGC gold mine in Central Asia, and is targeting many resource projects in Central Asia.
Gero said that the US economy grew by 2.5% in the first quarter of 2013, 0.4% from the fourth quarter of last year, but it fell short of expectations for a 3.0% growth. He predicts that the price of gold will provide partial support at $1,450 per ounce and the pressure will be at $1,500 per ounce.
At the beginning of January, the Swiss National Bank (SNB) unexpectedly abandoned the 1.20 cap of the euro against the Swiss franc for more than three years and further cut interest rates to negative interest rates, boosting the price of gold. Last week, after the European Central Bank (ECB) announced quantitative easing (QE) with an easing scale that exceeded expectations, the price of gold rose again to around $130,770.80 per ounce, breaking through the 1,000-three mark, the highest level since August, as speculators regarded gold immediately. As a safe-haven asset, it is also regarded as a tool to hedge against inflation and currency weakness.
As the situation in Libya continues to be turbulent and international energy prices continue to rise, the price of gold futures on the NewInvestor shares in Pioneer Precious Metals and Mining Fund York Mercantile Exchange continues to rise on the 2nd, and the most actively traded April contract in the market set the highest closing price of gold at a price of $1437.7 per ounce. .
The U.S. Senate reached an agreement that gold rebounded above 1280. Spot gold has rebounded from the intraday low of $1,268.86 per ounce at the beginning of the New York session on Wednesday (October 16). The US housing data has performed poorly. At the same time, although the two parties in the US Senate will reach an agreement on raising the debt ceiling and reopening the government, the Senate and the House of Representatives will successively vote on this agreement. The result is still full of uncertainty. However, some analysts pointed out that some investors may take advantage of this rebound to profit.
In terms of geopolitics, the situation between Russia and Ukraine has recently eased, and the conflict between Palestine and Israel has not shown an escalation. The genocide of ISIS in Iraq is continuing. In the past two days, ISIS has published two consecutive beheading videos, including American journalist James Foley and Japanese photographer Haruna Yukawa. Prior to this, ISIS had repeatedly published videos of beheadings and collective burial alive on the website, with cruel scenes. The United States has so far dispatched its air force to carry out two rounds of air strikes on Iraq, but it has not effectively deterred ISIS.