SPDR mainly represents medium- and long-term investors. The reduction of gold holdings by medium- and long-term investors is mainly based on the economic situation andChicago Precious Metals Exchange the rising interest in other high-return investment fields. Looking at the market outlook, the probability of a sustained moderate recovery of the US economy is high, while the probability of a significant reversal of the weak outflow of gold funds is low. Therefore, the overall weakness of gold is more likely.
1. The golden day chart closed the star line on the previous trading day, and the market adjustment trend is expected to end. Many forces have been released, and the market’s head-and-shoulders pattern is playing a role. The possibility of continued upswing in the market outlook still exists. In terms of moving averages, the cycle 30 moving average pressure has been broken, and the market outlook is likely to hit a new high.
China Merchants BRIC Fund rose 5.70% on the first day of listing (11th), and rose 4.07% yesterday. According to the "Daily Business News" report, the liquidity of tradable open-end funds has traditionally been relatively poor, with very few transactions, and market prices are easily affected by smaller orders. On the first day of listing in the BRIC countries of China Merchants, there was a scene where the daily limit of 100 yuan was reached twice, and the whole day's turnover was only 4,080 yuan.
This trading day will announce the German December Ifo Business Index, the Eurozone’s October current account, Italy’s October industrial orders, the UK’s December CBI retail sales gap, and the US’s November housing start. In addition, the Bank of England will announce the minutes of the Monetary Policy Committee meeting on December 5-6.
As we all know, except for the situation of basic equivalence in 2008, the price of platinum has been much higher than the price of gold. However, since the second half of this year, the price of gold has continued to rise, and the price of gold and platinum has reached a 10-year high in reverse. This just shows that at present, platinum has a broader appreciation space.
On the same day, the most actively traded April contract on the New York Mercantile Exchange gold futures market closed at US$1683.9 per ounce, an increase of US$11.8 or 0.7% from the previous trading day. Suppressed by investors' concerns about Greece's debt Chicago Precious Metals Exchangeproblems and the global economic outlook, the price of gold in New York suffered three consecutive trading days of decline, with a cumulative decline of 2.9%.
Huang Hanjun, chairman of Tianjin Precious Metals Shiyuan Gold Trading Co., Ltd. and a well-known gold expert in the industry, said in an interview with a reporter from the Securities Times yesterday that the third round of quantitative easing (QE3) in the United States is expected to push up gold and silver prices, but the injection method of QE3 It is a slow progress. In other words, it is more reasonable that the rising trend of gold and silver prices is slow. Huang Hanjun believes that the U.S. dollar, as the base currency in global foreign exchange exchanges, is also the main currency for international payments and foreign exchange transactions. There is no doubt that the U.S. monetary policy has an important impact on the entire international financial market, and the hedging properties of gold and silver also determine the overall The close relationship between gold, silver and currency in the financial system, the US dollar can be said to directly affect the fluctuation and trend of global gold prices. As the employment data disclosed by the United States is not optimistic, it has pushed the US monetary policy to release water again. The debt crises of EU member states such as Spain and Italy are also worrying. In the absence of sufficient resource allocation in the current European stability mechanism, the European Central Bank also hopes to use quantitative easing policies to boost market confidence and maintain the integrity of the euro area. . For this, the depreciation of the U.S. dollar and the Euro may provide favorable support for the sluggish export industry, because the exchange rate system pegged to the U.S. dollar determines that the renminbi will also depreciate. But looking at it now, the central bank needs to pay close attention to the rise of inflation, so it should be very cautious in its policy orientation. From another perspective, the National Development and Reform Commission has recently approved many large investment projects in various regions, and the market demand for funds is gradually increasing. In addition to the rising trend of institutional capital costs near the end of the quarter, the demand for further relaxation of policies still exists. Therefore, in the future, it is not clear whether the central bank will adopt quantitative easing policies. Gold investors should pay close attention to the latest policy trends of the central bank. At present, the global market's enthusiasm for investing in gold is unprecedentedly high. The world's largest gold ETF-SPDRGoldTrust gold holdings continue to climb. As of September 24, the holdings rose to 1,26.81 tons, setting a record for the highest holdings in history. The enthusiasm is still high.
At present, both the United States and the Eurozone are facing a balance between epidemic prevention and control and the resumption of work and production. Although there have been improvements, the road to recovery is not smooth. In terms of epidemic prevention and control, the number of new confirmed cases of new coronary pneumonia every day in some states in the United States has declined, but the epidemic prevention and control situation remains severe. The European epidemic has counterattacked, a new round of epidemic has spread, and the epidemic prevention measures of various countries are also being upgraded. Once the epidemic breaks out again or economic data falls short of expectations, both the US dollar and the euro will face downward pressure.
The former leader of the Republican Party in Ireland and the prime minister of the current caretaker government Cowan said he accepts the results of the general election. The election was originally scheduled to be held in 2012, but starting in the second half of 2010, Ireland fell into a debt crisis, and the deterioration of the economic situation led to political turmoil. The election was held on the 25th of this month. Analysts predict that the Unity Party will unite with the Labor Party to form a coalition government, and Kenny will become the Prime Minister of Ireland.
optionsXpress said that the European political situation and the debt crisis in the region are still important factors affecting the behavior of gold traders. The agency said: The gradual deterioration of the economic situation can be seen as having a negative impact on precious metals; if the crisis continues to expand, the price increase caused by buying gold from safe-haven demand will exceed the impact of gold selling caused by the strengthening of the US dollar.