1. Data released by the Federal Reserve Bank of Dallas (Federal Reserve Bank of Dallas) on Monday List of precious metalsshowed that the Dallas Fed's manufacturing output index was 1.1 in August and 10.8 in July. The overall business activity index was -11.4, and the July data was -2.0.
Global Forex News, January 17 - On Monday (January 16), spot gold rose to its highest level in more than seven weeks and stood above US$1,200 per ounce. It rose to US$1,208.80 per ounce during the session, up US$5, or 0.42%. . The rise of gold on Monday was mainly driven by political risks. The high probability of a hard Brexit in the United Kingdom and the US President-elect Trump’s remarks on NATO and the United States have once again attracted attention. Political risks have pushed up the demand for safe-haven gold. ETF funds have come first since early November. Increase gold holdings. Monday is the Martin Luther King Jr. Day in the United States. US stocks, US crude oil (52.54, 0.17, 0.32%) and metal futures are closed, and no major data will be released during the day.
The gold market is full of expectations in the second half of 2011. In the coming July, even in the traditionally weak month of gold performance, it will not hurt the bull market for gold. Judging from the experience of the past 9 years, the next two months provide an excellent buying opportunity. For the upcoming July alone, gold may test the all-time high of $1,575, but the chance of crossing $1,600 seems unlikely. The support below the gold-US$1450-US$1470 has experienced three shocks and already has a very strong support. As long as the gold price can hold this support from June to August, the US$2,000 on gold this year is not a idiot.
Due to the rebound of the US dollar and the recovery of US economic data, international gold prices fell for three consecutive trading days. The COMEX August gold futures contract was quoted at US$952.50 per ounce on June 8, down US$10.10 from the previous trading day. Lu Jianqin, an analyst at the East Securities Futures, said that at present, the entire precious metals market is relatively short, and the market sells significantly. According to data, the gold price in the international spot market opened at US$952.25 yesterday. It fell below US$950 at midday during Asian trading hours to a minimum of US$947, a decrease of 0.5%. At 6 pm Beijing time, spot gold on the international market was quoted at US$950.80, a decrease of US$1.4 or 0.15% from the previous trading day. In the domestic market, Au9999 on the Gold Exchange closed at 209.62 yuan yesterday, down 0.97 yuan or 0.46% from the previous trading day.
This is interpreted by the market as the Fed is paving the way for the next step. QE3 may only be a matter of time. The market will focus on the Fed's interest rate meeting on September 12-13. The expected enhancement of QE3 has greatly boosted the price of gold and silver. Technically, the five-day moving average that was originally down turned up again, and the other moving averages are also in a long arrangement. The strong pattern may continue. The market outlook for gold and silver will be easy to rise and hardly fall. Gold will hit the integer mark of $1,700, and silver will hit 32 dollars. Liu Ning said.
In terms of geopolitics, the situation in Syria is once again tense. The US Department of Defense has deployed an amphibious assault ship Bataan and 1,000 navy off the coast of Libya in preparation for the evacuation of the embassy in Libya. Earlier, the US State Department has issued a statement saying that it hopes that US citizens in Libya will leave the couList of precious metalsntry quickly.
There has been no austerity among American shoppers so far. After Black Friday, which was considered a success, yesterday calculated the network Monday, which recorded a sales increase of nearly 20% above the 2009 level. In fact, this year's online sales on Monday are 31% more than the sales on Black Friday.
The dust settled in the US election, Obama won 303 votes and was re-elected as President. During the election process, the market continued to stimulate the influx of safe-haven funds into the gold market due to gossip. As early as yesterday morning, the price of gold had risen by US$30 to above 1,720. After Obama was elected, it rushed to a nearly one-month high of 1732.9.