German Finance Minister Schaeuble ruled out the possibility of writing down Greek debt again last Saturday (January 24), and writing down or forgiving debt is exactly what the Greek SyriThe best and safest international precious metal delivery methodza party hopes for. European Commission (EC) President Juncker said on Friday that Greece will neither voluntarily leave the European Union nor be kicked out of the euro zone.
Higher GOFO interest rates also triggered a massive dump of gold by quantitative investment funds that day. Zhang Gang explained that GOFO is mainly determined by the appreciation of the LIBOR + USD exchange rate in the next month. The current LIBOR is relatively stable, and the expectation of USD appreciation will further push the GOFO interest rate higher, making the computer program trading of quantitative investment hedge funds dare to further pressure. The dollar rose and sold gold. At least one purpose of the Fed's reversal of operations has been achieved, which is to make the US dollar the new darling of global safe-haven funds.
In addition to these big state-owned banks, some joint-stock banks are not far behind. The personal physical gold agency business launched by Everbright Bank adopts a T+0 transaction mechanism, and investors can trade through online banking and telephone banking channels. A deposit of 16% of the investment amount can be used to make a 100% full transaction, and you can choose to buy long or short in both directions. Prior to this, the Bank of Guangzhou also announced in a high profile its entry into the physical gold and gold exchange trading products agency market.
After all, the exchange is worried that the current bullish speculation may lead to a gold price bubble. In the eyes of the above-mentioned people, the bigger attempt is that the US government needs to use some technical means to suppress the continuous rise in the price of gold, and has protected the US dollar from depreciating rapidly, so as to maintain the continuous flow of global funds to US dollar assets. As gold fell, the US dollar index has risen to 74.66 from an intraday low of 74.33.
From gold to silver, the speculation of precious metals is one after another. This time, investors have set their sights on platinum. Yesterday, Guangzhou opened the first platinum and silver supermarket, the first investment reserve type Jingxin platinum in China. Tiao was also officially listed in Guangdong, attracting the attention of many investors.
As the EuThe best and safest international precious metal delivery methodropean and American sovereign debt crises hit in turn, inflation expectations and economic outlook worries have heated up. In the continuous decline of global stock markets, the charm of gold has reappeared and thrived. In just one month, the international gold price has soared by more than US$300 per ounce, and the price of gold historically broke through the US$1,900 ceiling on the 23rd. How long will bullish gold stay bullish?