However, analysts generally believe that the world economy has indeed experienced a certain degree of slowdown in the past few months, whMonarch precious metals coupon codeich is mainly dragged down by factors such as the earthquake in Japan, high oil prices, and the turmoil in the Middle East. However, the overall recovery trend remains intact. Factors are gradually weakening, and the global economy is expected to regain momentum in the second half of the year.
PIPTRADE analysts believe that it is too early to discuss the Fed’s QE3. Because the Fed has just announced the extension of the distortion operation, and the Fed’s internal divergence is large, the market’s focus is more on the European Central Bank. If the Eurozone 5 announced today The results of monthly retail sales and the final GDP value of the first quarter were again worse than expected, and the European Central Bank's interest rate cut sentiment became more intense. If the central bank cuts interest rates by 25 basis points as scheduled, and said that it will take further stimulus policies when needed, then the global market may see a general rise again. Today the US is closed for a holiday, and precious metals trading tends to be light, but we need to be wary of market fluctuations being amplified.
During the European session on Thursday (July 7), international spot gold gave up intraday gains after the price of gold once hit a two-week high of $1,535 per ounce. The market is waiting for the European Central Bank's (ECB) interest rate decision and a press conference after the bank's governor's meeting. At 18:32 Beijing time, spot gold was reported at US$1,525.10 per ounce, and at US$1,527.50 per ounce in late New York trading on Wednesday; COMEX gold futures were reported at US$1,525.80 per ounce. Affected by market concerns about the Eurozone debt crisis, investors are actively buying. Gold prices hit a high of US$1,534.30 per ounce in the Asian market this trading day, the highest level since June 23. ANZBank (ANZBank) analyst Peter Hillyard said: The current number of buying orders is greater than the number of selling orders, therefore, the price of gold is rising. The market is seeking positive news for gold. He also said: such as the situation in Portugal, the Greek issue will be a positive factor to boost gold prices. Although the market expects that the European Central Bank will announce an interest rate hike of 0.25 percentage point, it is more worried about the European debt crisis and predicts that after the European Bank announces its interest rate resolution, the debt problems of peripheral member states in the region will once again become the center of market concern. The euro therefore fell for the third consecutive trading day. Although news of central bank rate hikes is usually negative for gold, investors expect the European Central Bank to raise interest rates faster than the Federal Reserve (FED), which will put pressure on the dollar and benefit gold. Goldman Sachs (GoldmanSachs) pointed out in a report released on Thursday: We continue to believe that the gold market is still under-purchased relative to the real interest rate level in the United States, so it is expected that the current low interest rate environment will promote speculative positions. , So as to provide support for the further rise in gold prices. The bank also said: We continue to expect that as the economy recovers, US real interest rates will rise and gold prices will peak in 2012. The possibility that US real interest rates will rise faster than expected will be a downside risk for gold prices. In an exclusive interview with FX168, Long Ling of the R&D Department of Industrial Futures said: The third quarter of this year is the peak period for debt repayment in Europe, and the European debt problem will continue to impulse the price of gold; but historically, the impact of European debt on the market is weakening. Getting smaller. We analyze that the risk aversion brought by European debt may still have some upside potential for gold, but it is also very limited. Many important economic data will be released from tonight. Until then, the market will remain cautious and it is recommended to wait and see. On the supply side, negotiations between Indonesian workers and the management of Freeport McMoRan Copper & Golds broke down, and gold mining remained at a standstill. On Thursday, the gold-silver price ratio remained at around 42.5, much higher than the low of 31.7 hit on April 28, suggesting that with the double retracement of gold and silver prices, the price of silver is relatively cheap compared to gold. Morgan Stanley (MorganStanley) pointed out in a report: Although we believe that silver may continue to outperform other precious metals, we are worried about the continued large fluctuations in silver prices and are worried about technical indicators and market sentiment. SPDRGoldTrust, the world's largest gold exchange-traded fund (ETF), said its gold holdings as of July 6 remained unchanged at 1,205.81 tons. The world's largest silver listed exchange fund (ETF) iSharesSilverTrust stated that its silver holdings as of July 6 remained at 9,532.40 tons, the lowest level since September 22, 2010. In terms of other precious metals, spot silver was reported at $35.79/ounce, spot platinum was reported at $1,720.49/ounce, and spot palladium was reported at $768.50/ounce. (Source: Money 18)
From now to October 15th, the gold and silver spot trading markets will be in a process of wide fluctuations, and there will be no more unilateral market. Wang Xuemin said. He believes that from the historical trend of gold and silver, gold and silver will be in a shock phase after a round of sharp rise or fall. This year, there were two unilateral quotations in the gold and silver markets, which was difficult to see in previous years.
On May 1, U.S. President Barack Obama announced that the U.S. forces had killed Al Qaeda leader Bin Laden. The news spurred a rebound in the US dollar and triggered market investors to sell commodities. Crude oil, gold and other varieties fell one after another, among which silver futures fell the most. Analysts believe that after a lightning-fast setback, it is unlikely that silver will rise sharply in the short term, but the long-term upward channel has not changed.
1. The German newspaper DieWelt (DieWelt) on Monday quoted the European Central Bank (ECB) sources as saying that the European Central Bank has agreed to allow the Greek banking industry to use emergency loans. By expanding the qualifications for morMonarch precious metals coupon codetgage loans in Greece, the European Central Bank will offset the reduction in the upper limit of the short-term government bonds that the bank uses to guarantee.
Silver: The trend basically follows gold. After last week's continuous sharp drop, the lowest intraday mark is back to the $18/oz integer mark. After continuous decline, it is currently ushering in a technical rebound. In operation, the idea is to follow the trend of gold. First look at the top The effect of rebounding resistance levels is focused on the strength of its rebound and the strength of its stepping back again. Combining the resistance level to be blocked, it can be empty. At the same time, combined with the second stepping strength and not breaking the last week's low line, you can combine the support level to try a long order.