SharpsPixley's head of gold trading, Ross Norman, said: When the dollar hits a high level, gold is affected, which is clearly what happened this time. There are many things to worry about politically and economically, but people have become accustomed to bad news, sMonarch precious metals coupon codeo they no longer have an impact on prices.
PIPTRADE stated in its report that the worse the data, the more it can arouse the market's expectations that the Fed will take action next week, thereby pushing gold and silver to break through overnight highs to confirm the upward direction. Otherwise, gold and silver will still likely continue to oscillate within the narrowing range of the triangle, waiting for a clearer direction.
Behind the global gold investment boom is the global gold investment boom. In recent years, the gold market has grown by 100% every year, and the global physical gold has also grown by 30% to 50% every year. The ten-year bull market of gold and the following five factors Related, the depreciation of currencies, the rise in commodity prices, the high enthusiasm for global investment in gold has led to the entry of funds, the outbreak of the credit crisis, and the expectation of gold in the reconstruction of the global financial system. In addition to the above-mentioned background, the long-standing enthusiasm of domestic residents for gold investment, the small gold reserves of residents and the narrow investment channels are all reasons for the emergence of gold investment boom. The most important thing is the public's re-understanding of the value of gold. . Zhang Bingnan, vice chairman of the Gold Association, said at the launching ceremony of the comprehensive marketing cooperation between Zhongxi Holdings and ICBC recently.
In terms of gold futures, we will further attract institutional investors. On the basis of the current seven Chinese banks as members, we will study domestic commercial banks with foreign investment backgrounds to become members; at the same time, according to the needs of market investors, market positioning and long-term development needs , Explore and study gold night trading business. Wang Lihua said in his keynote speech.
It is not yet certain whether the European Central Bank's capital contribution can be used as the IMF's confidence deposit for the European debt crisis relief loan. That is, once the IMF purchases a loss in European country bonds, whether the European Central Bank's capital contribution will first bear the investment loss is still unknown. He revealed.
Tim Riddell, head of global market research at ANZ Bank, said that as it is approaching the lower edge of the $1555 to $1,635 range, the daily kinetic energy remaiMonarch precious metals coupon codens neutral, and the recent inability to climb the $1,600 mark will bias gold to retest regional support.