GKFX analysts said that after the prFidelity Precious Metals Fundice of gold fell yesterday, it rebounded after repeated testing and stabilization at the 1766.6 line. Although it was slow, it went very stable. After the U.S. market hit the 1779.9 line, there was no significant downside, but maintained a slight shock. This is a modification of time for space.
VisionFinancialMarkets metal trading department director David Meger said that lower gold prices indicate that safe-haven assets are being sold, and risk sentiment prevails today. However, favorable factors such as European debt and concerns about the economic outlook have not disappeared. Therefore, this fall is only a short-term correction in the long-term upward trend of gold prices.
However, Qu Xiaoning, assistant general manager of Oriental Huijin Futures, believes that the Dow’s new high is evidence of the return of funds to the United States. The stable economic recovery in the United States has been recognized, and the US inflation has remained at around 1.6 after successive rounds of QE, indicating risky assets. Preference rises, everyone is optimistic about the future economy of the United States, and the stock market naturally rises. Due to the return of funds to the United States, the excessive depreciation of non-US currencies promoted the appreciation of the U.S. dollar, and the decline in U.S. dollar-denominated commodities is also reasonable, but the main reason is that the excessively high prices of commodities during the recovery phase will affect the speed of recovery, and the willingness to sell short is stronger.
2. The IEA issued a statement on Thursday that it will release 2 million barrels of crude oil stocks a day in the next 30 days, for a total of 60 million barrels. The US Department of Energy (DOE) will release 30 million barrels from the Strategic Petroleum Reserve as part of this action. Affected by the news, international oil prices plunged sharply during intraday trading, which dragged down the price of gold.
Barclays (Barclays Capital) said that investors' interest in gold investment remains stable, and gold holdings in exchange-traded products hit a record high. The bank also pointed out that central banks continued to buy gold in October. The bank also said that it is expected that under the support of bargain hunting, gold will go higher. If it stands above 1,736 US dollars, it will confirm the rise to the 1,803/1,840 US dollars area.
In this regard, a senior industry insider told the "Daily Business News" reporter that the fine will have a certain impact on the management norms of the Gold Jewelry Industry Association and its future composition, but because the punishment is relatively light, the impact on thFidelity Precious Metals Funde fined company is not significant. , Only played a warning role.
1. The international rating agency Fitch Ratings said on Monday that the leaders of the European Union (EU) failed to reach a comprehensive and practical measure to resolve the euro area debt crisis at the summit last week, which will increase the rating of euro area countries in the short term. Downward pressure.
Judging from the performance of the gold market in the second quarter, the overall operation remained stable. On the one hand, the supply and demand situation has improved, and the stability of the financial system has reduced the demand for safe-haven gold; on the other hand, the prospect of economic recovery has not driven the investment demand or physical demand for gold. Among all metals, gold prices have the worst performance. So, what are the factors that pushed the price of gold to soar and once again rushed to the $1,000 per ounce mark?
The Brazil World Cup opened early this morning, Beijing time. The first game was hosted by Brazil against the European powerhouse Croatia. The world’s major financial institutions made predictions about the winners of this World Cup. Goldman Sachs believes that Brazil has a 48.5% chance of winning this World Cup, followed by Argentina and Germany, with 14.1% and 11.4% chances of winning. Deutsche Bank predicts that the England team from the birthplace of modern football will eventually win the championship. As for the financial market trends during the World Cup, most institutions gave pessimistic forecasts. The main reason is that analysts will spend a lot of energy watching the World Cup. The market predicts that the Hong Kong stock market will continue the World Cup curse, recording a decline during the one-month match.