3. The monthly report issued by the US Department of Commerce (Commerce Department) shows that the monthly rate of US commercial inventoriMiles Franklin precious metalses 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%.
Although the current international gold price has fallen from a high of over $2,000 per ounce, and the fiery investment enthusiasm has cooled, it is under the combined influence of the gloomy outlook for the dollar, the market’s concerns about global economic recovery, and the large-scale monetary and fiscal stimulus policies of the United States. , The medium and long-term international gold price still has supporting factors, and its attractiveness to investors still exists. It is worth noting that international gold prices will continue to fluctuate.
Since late June, due to the impact of the European debt crisis, investors have abandoned risky assets and bought a large amount of gold, pushing the price of gold from below $1,500/ounce all the way up to the highest price of $1609.50/ounce on July 19. Another historical record was set. Since then, the price of gold fluctuated around US$1,600 per ounce. Last Friday, August gold futures in New York closed at US$1,599.60 per ounce. Many investors will ask, will gold prices be higher in the market outlook? In Zhen Weigang's view, the answer is yes.
Although North Korea and South Korea are often caused by territorial disputes, they are less likely to evolve into large-scale wars and therefore have a relatively low impact on the price of gold. However, if there is a large-scale war between North Korea and South Korea due to major events in the future, major powers such as the United States and the United States will also be involved. At this time, the geopolitical crisis will drive the price of gold soaring. After the exchange of fire between North Korea and South Korea occurred, the reason why the price of gold rose sharply on that day was more because the market worried that the European debt crisis would spread to larger economies such as Spain, and Spain's short-term credit interest rate nearly doubled that day.
This is also a major feature of underground gold companies, that is, they have many trading methods that cannot be provided by the on-site exchanges, such as the known 24-hour trading time, without prompting customers to add margins in advance, etc., hundreds of times leverage means that they may sleep asleep It has been liquidated. Wang Ruilei also said.
On July 5, Moody's, one of the three major international rating agencies, first downgraded Portugal’s sovereign rating by foMiles Franklin precious metalsur consecutive levels to Ba2. A week later, on July 12, Moody’s downgraded Ireland’s rating to Ba1 and maintained it. Negative outlook. At the same time, Italy is considered by the outside world to be the next target to be hit by the debt crisis, and the country’s stock market plummeted on the 11th.
Dai Weiyu said that the downgrade of France's rating will have a short-term positive impact, and its impact on the euro will be deeper, but its negative impact on the stock market and commodities and other non-US currencies such as the Australian dollar will not be too deep. How to interpret the market depends on the performance of the European and American markets this afternoon. Dai Weiyu said that the support level below the euro is 1.23 to 1.25. If the Australian dollar can stabilize at the level of 1 to 1.02, there is still a chance to rise.