According to the reserves of platinum mines and the complexity of platinum production processes and cycles, it is difficult to increase the supply of platinum in a short period of time. According to statistics from related professional companies, the total global platinum demand in 2010 increased by 16% to 245.1 tons, while the total supply only increased by 0.6Precious metal trading hours% to 188.5 tons.
In 2007 and 2008, CICC Gold arranged a total of 14 construction projects, with a total investment of 3.776 billion yuan. The accumulated investment of 1.383 billion yuan has been completed and 6 projects have been completed and put into operation. Sun Zhaoxue said that by the end of 2009, the company will increase the production capacity of gold mines by 9,750 tons/day, the new smelting capacity by 200 tons/day, and the new gold production capacity by 10 tons/year.
On April 28, the margin ratio announced on the official website of Shenzhen Development Bank was 21%, and the gold exchange announced it was 16%. However, the margin ratio of Mr. Yang's account was lower than the former and the latter. A few days later, Mr. Yang did not make up the security deposit in time, and the bank forcedly liquidated the 18 lots of silver in his account. This was in line with the agreement between the two parties and the bank should not be liable for compensation.
Deutsche Bank analysts believe that the market fluctuations in the weeks leading up to the new year should not be interpreted too much. This does not represent the fundamental situation. The reason for the recent fluctuations in gold prices is more likely to be valuation kinetic energy. In the long run, various indicators are conducive to gold, and the diversification of investment by central banks of various countries is a factor in the large inflow of gold ETF buying, so the US dollar will also weaken.
From a psychological perspective, the continuous rapid rise in silver prices has actually aroused investors' concerns. Historically, the gold/silver price ratio has been around 40 times for a long time. However, due to the rapid rise in silver prices since March, the gold/silver price ratio has fallen to around 30 times. Therefore, once the US dollar rebounds slightly, the silver price falls and profits are made. And the result of panic amplifies the decline in silver. After the plunge, the gold/silver price ratio has now recovered to more than 40 times.
From October to the present, the price oPrecious metal trading hoursf gold has been oscillating in the box of 1,600 to 1,800 dollars. Except for the sharp drop last Thursday, the rest of the time has been slightly up and down. This makes the gold market lose its previous appeal. Many domestic investors withdrew from the gold market and once again turned to the rebounding stock market.
The inversion of platinum and gold prices lasted for nearly two months. The length of time involved and the large price difference date back to 1992. Li Zhuofeng, vice president of Tanrich Gold, said that there was also a financial tsunami in 2008, but it only lasted a few days and the price difference was only a few dollars. In terms of scarcity and mining costs, the price of platinum should be higher than that of gold.
MillerTabak Securities analyst Peter Boockvar said that the disappointing data has aggravated investors' concerns about the global economic slowdown. Due to the debt crisis in Europe and the United States, some people seem to have forgotten macroeconomic issues.