In the last ten days or so, I opened a long position at 9,100 yuan per lot. Mr. Lin recalled that afterwards, the price of silver rose all the way, and every day there was a profit, it was immediately supplemented. At the end of the month, the silver had risen above 10,000 yuan, and I had more than 2 million yuan on the book. At that time, I thought it was a rare big market. The people from the trading company suggestePioneer precious metals and mining, etc.d that I make at least part of the profit, but I didn't listen.
Regarding the purpose of IMF gold sales, Yang Guanglei of the Gold Trading Center of Shandong Zhaojin Group believes that there are two main points. One is to improve one's own financial situation, so as to increase loans to small and medium-sized countries that have been damaged by the financial crisis; Help expand the special drawing authority of countries around the world.
6. The number of initial claims for unemployment benefits in the United States decreased by 23,000 to 452,000 in the week of October 16, which is expected to be 455,000. The latest economic indicators released by the United States are showing signs of improvement. According to data released by the National Association of Home Builders (NAHB) on Monday, the NAHB house price index in October was 16.0, higher than September's 13.0, and better than the expected 14.0; The highest level since June. According to data released by the US Department of Commerce (DOC) on Tuesday, the annualized monthly rate of new housing starts in the United States increased by 0.3%, bringing the total annualized number to 610 thousand, which is expected to be 580,000. Data released by the US Department of Labor (DOL) show.
However, quantitative investment hedge funds are also facing redemption pressure and need to cash out gold asset reserves. Zhang Gang pointed out that at the beginning of September, Goldman Sachs Group's $1.6 billion GlobalAlpha quantitative investment hedge fund was forced to cease operations due to a 13% drop in net value. At present, some investment institutions have begun to vote on quantitative investment hedge funds, while Chicago Business The Exchange (CME) last Friday raised the speculative margin for each gold contract by 21.4% to $11,475, which will further reduce the investment income expectations of quantitative investment hedge funds and trigger a new wave of redemptions.
Yesterday, spot silver opened at 6555 points, the highest was 6637, the lowest was 6500, and it closed at 6573, fluctuating by 137 points. Silver ETF holdings amounted to 1,055.94 tons, which was the same as the previous trading day. At present, ETF holdings are close to the highest in history. Silver dropped slightly after the opening yesterday. After gaining support near 6500, it consolidated at a low level. After reconfirming the support of 6500 in the afternoon, it fluctuated up and reached the key resistance zone of 6580-6600 in the evening. The huge support, once again directly pulled up to strong resistance near 6600, oscillated and closed down at the end of the trading session, and the daily line showed a small yang line with upper and lower shadows, consolidating.
In addition, Caibai Company also stipulates that if consumers hold foreign gold jewelry, they can also buy Caibai Company's golPioneer precious metals and mining, etc.d jewelry in exchange for new ones, requiring an additional processing fee of 18 yuan per gram. At this time, consumers took gold jewelry to exchange old Caibai company's jewelry, and the cost increased to 371.8 yuan. Although this price is still higher than the exchange gold price, it has already saved 10% compared to directly buying Caibai company's gold jewelry.