On the same day, the price of silver futures for December delivery fell 47.6 cents to close at 30.446 US dollars per ounce, a decrease of 1.54%. Platinum futures for October delivery fell 16.6 US dollars to close atSet up precious metals market widget 1503.7 US dollars per ounce, a decrease of 1.09%.
At present, due to the global economic recession and the general decline in commodities, the inflation level of major global economies continues to decline. The latest CPI in June fell to 2.2%, the lowest since February 2010; the US CPI fell to 1.7% in May. The month-on-month decline was 0.3%, the lowest rate since December 2008. The Eurozone CPI fell by 0.1% month-on-month in May, and the year-on-year growth rate dropped from 2.6% in April to 2.4%.
On November 25, Xi Jianhua, the father of paper gold and executive vice president of the Gold Investment Research Institute, said at the first gold investment summit forum in Shandong Province: It does not make sense to argue about whether the price of gold is too high. Whether there is a bubble in the price of gold depends on the promotion of gold prices. Whether the factors are reasonable.
But silver is different. Above 1,500 US dollars, the silver boost mission may have been completed; coupled with silver’s soaring 486% in the past two years, the main force is bound to take profit, or even reverse short; after silver hits a record high, it is completely from the technical line. There can be a large callback.
An analyst at Commerzbank said that gold has not benefited much from the stock market and other commodities in recent days. This is because gold is also regarded as an indicator of market fear. I thought that the anxiety had temporarily left the market, but Spain's rating caused the market to panic again.
Safe-haven funds have poured into the precious metals market. Zhang Ning (pseudonym) has been investing on the NetEase precious metals platform since 2014. On the eve of the Brexit referendum, Zhang Ning communicated with analysts and initially judged that regardless of the result ofSet up precious metals market widget the referendum, it would be difficult to change the medium-term upward trend of precious metals.
However, he soon discovered that this was not the case. During the US trading hours, a group of domestic asset management companies and investment funds failed to increase the COMEX gold futures margin in time, and encountered European and American brokers forcibly liquidating bullish gold contracts. He realized that the purpose of short-selling gold by European and American asset management companies was to earn bonuses on liquidation of long contracts.