Although the situation in Libya is becoming clearer, Gaddafi’s whereabouts are unknown, making the country’s situation unstable. At the same time, the Fed’sPrecious metals business analyst third round of quantitative easing (QE3) is expected to heat up, coupled with the lingering European debt crisis, making it a safe haven Asset gold rose above $1,900 per ounce yesterday morning.
A prerequisite fact for the outbreak of the U.S. financial crisis in 2008 is: In 2006, the U.S. GDP was 13.2 trillion U.S. dollars, the U.S. asset securities (bonds) were about 90 trillion U.S. dollars, and its financial derivatives were 518 trillion U.S. dollars. That is, the total amount of asset securitization is about 6.8 times of GDP, and financial derivatives are nearly 40 times of GDP. In 2007, the U.S. dollar interest rate rose to 5.25%, puncturing the subprime mortgage and CDS bubbles, leading to the collapse of the financial derivatives bubble, and rapidly shrinking a huge amount of liquidity, causing many financial institutions to stop cash, financial black holes, bankruptcies and bankruptcies. .
New York on the 25th. In the strong rise of the US stock market and the risk aversion triggered by the uncertainty of the Italian parliamentary elections, gold rose about 1% during the New York session. This is the third consecutive trading day that gold has risen after its plunge last week. Recently, Fed executives have repeatedly emphasized the recommendation that the US Central Bank lower or end its asset purchase plan early. This has caused a serious blow to the concept of gold as a hedge against inflation. Investors are currently watching Bernanke's half-year testimony in Congress this week to get more clues about the US economic stimulus policy. Reuters data shows that at GMT21:07, the settlement price of the US gold futures contract expiring in April rose by $13.80 to $1586.8. Transaction volume also rebounded to the 250-day average. On the 26th, the Asian morning market, Singapore. As the uncertainty of the Italian election reignited the panic about the Eurozone debt crisis, gold continued its gains during the previous trading session and launched an offensive towards $1,600. According to a survey, no party may win a majority in the Italian upper house. This makes the market once again worry about the risks posed by the political uncertainty of the third largest economy in the Eurozone. The US stock market yesterday recorded its biggest daily decline since November. During the current period, the Australian and Asian stock markets both fell. According to a forecast survey released on Monday, the United States' economic growth rate this year may be around 2.4%. Government budget cuts and chaotic political battles over fiscal policy will influence the process of US economic recovery this year. The world's largest gold ETF fund SPDR yesterday reduced its holdings of 7.83 tons (0.61%) of gold to 1,292.848 tons. This is the lowest value since August 2012.
Due to the delay in making progress on the European debt issue, international gold prices fluctuated downward last week, reaching a minimum of 1602.74 US dollars per ounce. Last weekend's EU summit brought hope to the market. After entering this week, gold rebounded slightly under the leadership of the euro and major stock indexes, reaching around $1654 per ounce at midday on Tuesday. Gold prices closed at 341.50 yuan/g on Tuesday. The second EU summit held this Wednesday will undoubtedly become the focus of market attention.
In the first half of 2011, the stock market was sluggish and the property market was sluggish. However, there was one investment product that continued the strength of last year, and that was gold. From $1,420 at the beginning of the year to $1,498 at the close of the year, the price of gold rose nearly 5.5% during the half-year period, not only outperforming the stock market and bank deposits, but even outperforming the half-year average of many bank wealth management products and CPI. Yang Yang, the proposed fund manager of the Harvest Gold Fund that is being issued, believes that the overall upward trend of gold has not changed in the future. As a special product, gold has low correlation with other investments, and will have investment value and asset allocation necessity that other asset classes cannot replace for a long time in the future. At present, the contradiction between global gold supply and demand has become increasingly prominent, and gold has both long-term investment value and asset appreciation potential. Therefore, investors should incorporate it into the scope of investment asset allocation to diversify investment risks and maximize asset appreciation.
The most direct effect of the listing of gold ETF products is to broaden domestic gold investment channels. Jiang Shu, an analyst at the Industrial Bank's Capital Operation Center, told reporters that there are existing paper gold, gold T+D, spot gold, gold futures and other products in the domestic market. The listing of gold ETF products will provide investors with new investment targets. At the same time, due to its own adPrecious metals business analystvantages such as low transaction threshold, strong liquidity, safe custody, and flexible and convenient trading methods, gold ETFs will have a strong appeal to investors.