In the United States, there were no important economic data released during the US session yesterday, but important data will be released in the next few days: house prices and consumer confidence reports will be released on Tuesday, durable goods orders will be released on Thursday, and the fourth quarter will be released on Friday. GDP revision report. Therefore, we can see that the U.S. index and gold almost maintained a narrow-range oscillation pattern yesterday, and the data in the next few days will proPrecious Metal Investment Fundvide further guidance for each other's direction. In addition, Federal Reserve Chairman Ben Bernanke will publish a semi-annual economic outlook forecast in Congress on Wednesday and Thursday, and may elaborate on monetary policy at that time, which will have a certain impact on the market.
MKSCapital also said on Friday that demand for physical gold in Asian countries remains strong. The company pointed out that Hong Kong gold dealers and jewellers are still full of out-of-sales of gold bars and coins, but the shortage may slow down next week as the supply of new goods arrives. In addition, the gold exchange also showed strong demand, and the premium level is still high.
Commerzbank (Commerzbank) analyst Daniel Briesemann said: Some investors choose to lock in profits, because the price of gold failed to hold the psychological barrier of $1,900 per ounce, the selling situation intensified. But he also pointed out that long investors need not worry too much. In the current environment, the price of gold should be well supported and maintain its upward momentum.
In 2014, the total amount of recycled gold for developers and industrially developed countries generally declined, and industrially developed countries experienced a greater decline. Looking ahead, we expect the total amount of recycled gold to remain low in 2015, and may even drop further, because a large amount of supply closely related to the market has been exhausted in recent years. The reduction in cheap selling may also further inhibit the growth of the total amount of recycled gold, and many recycled gold recyclers will find it difficult to obtain inventory. Even so, recycling is still the most active part of the gold supply and has played a role in balancing the gold market. Once there is any price increase in 2015, it may trigger an increase in the total amount of recycled gold.
3. The monthly report issued by the US Department of Commerce (Commerce Department) shows that the monthly rate of US commercial inventories in March rose by 1.0% to 1.477 trillion US dollars, which is expected to increase by 0.8%. U.S. commercial sales increased 2.2% in March to $1.200 trillion; the largest increase since March 2010 increased by 2.4%.
On the same day, thPrecious Metal Investment Funde price of silver futures for delivery in May rose by 1.004 US dollars to close at 32.525 US dollars per ounce, an increase of 3.2%. The price of platinum futures for delivery in July rose by 21.7 US dollars per ounce to close at 1606 US dollars, an increase of 1.37%.
In addition to the securities market, the performance of the gold and futures markets in the financial tsunami is also impressive. As of the end of 2008, the balance of inter-bank bond custody in Shanghai reached 13.9 trillion yuan, ranking 6th in the world, up one place from the previous year. The gold exchange turnover reached 898.3 billion yuan, of which spot gold on-site trading volume ranked first in the world. The turnover of the futures exchange also reached 28.9 trillion yuan, and various financial markets showed strong ability to attract money.
Affected by the sluggish employment data in the United States in May, the market's risk aversion sentiment rose, which stimulated a strong rebound in gold futures prices on the New York Mercantile Exchange on the 3rd. The most active August contract in the market closed at US$1,542.44 per ounce, up US$9.7 or 0.6% from the previous trading day. The price of gold rose 0.3% this week, marking the fourth consecutive weekly rise.
On that day, the price of silver futures for December delivery fell 17.3 cents to close at $31.62 per ounce, a decrease of 0.54%. The price of platinum futures for delivery in January 2013 fell by US$12.9 to close at US$1562.7 per ounce, a decrease of 0.82%.
I am optimistic about how high the price can rise. We need to see the price of gold effectively break through $1,300 per ounce in order to meaningfully promote investors' attention. The price of gold must reach a level of at least $1,320 per ounce to increase power to the next level. He said.