The current price of gold futures is still at a high level. The occurrence of this quotation may be triggered by a programmatic transaction buy order, while the sellers may be anglers who place fishing orders. Under the background that the market is optimistic about gold, the daily liAlabama Precious Metals Corporationmit is set in the market in advance Nearby selling orders, and inducing measures were taken to automatically match a series of small orders, making the price hit a high of 337.27 yuan/gram. Said Dai Honghao.
Since the 2008 financial crisis, 17 state governments in the United States have initiated a legislative process to write gold's legal tender status into law. The Utah Act (Bill No. HB317H10) that has passed the bill clarifies that gold and silver formally become legal tender protected by federal laws in Utah; gold and silver can be used to pay taxes to the state government; citizens hold gold, Silver, and the part of the income generated by the price changes of gold and silver is not taxable.
John Kilduff, partner of AgainCapital, said: The US debt situation has been tested by reality, and only precious metals will benefit from the downgrade of the rating outlook. The overall economic outlook has become more confusing, and the stock market and energy commodities will be under pressure.
4. Data from the data provider Markit shows that the initial value of the Markit Manufacturing Purchasing Managers Index (PMI) in the Eurozone in June dropped to 52.0, the lowest since December 2009, estimated at 53.8, and 54.6 in May. The initial value of the service industry PMI was 54.2, the lowest since December, estimated to be 55.5, and 56.0 in May.
The recent drop in gold prices probably only reflects the rise in the dollar. In the long run, in the few years since the global financial crisis, gold is still one of the few assets that can bring double-digit returns every year. Since the factors that support the rise in gold prices still exist, the price of gold is expected to eventually rise to US$2,000 per ounce or even higher. Hang Seng Treasury Department said.
International gold prices fluctuated in early trading on Wednesday (January 9). Market buying demand constituted a good boost to the price of gold, returning it to the 1660 level. However, there is still uncertainty as to whether the loose monetary policy of the United States will continue in thAlabama Precious Metals Corporatione future. The market is cautious about the key bullish factors in this gold market.
Previously, the island nation of Cyprus set a precedent in the Eurozone to levy a controversial bank deposit tax, which once allowed gold and silver to experience several bloody days. On Thursday, news that Cyprus dumped its gold reserves caused gold to plummet by more than 1%, and silver prices went down accordingly.
Regarding the current ups and downs of gold prices, Zhang Bingnan, vice president of the Gold Association, told reporters that this is mainly due to the impact of the US fiscal cliff event. As the issue has not been resolved, the outlook for the entire financial market is uncertain. In addition, all major capital markets in the West are on holiday at the end of the year, and a small amount of capital will lead to major changes in the market's ups and downs. This is reflected in major Western holidays, especially at Christmas. Judging from past experience, the international gold market did not have much upward momentum in December. Compared with the current gold price of $1,700, the fluctuation of dozens of dollars is not a concern for long-term investors.