MetalsFocus said that due to the sharp drop in oil prices, the weakening of the stock market, the rise of concerns about a slowdown in global economic growth, and rising uncertainty in Europe, gold was boosted by safe-haven demand. However, we believe that the above factors Semi-precious metalsare temporary, and the rise of gold will eventually lose momentum.
I didn't expect to change his face so quickly, it was really hard to guard against. A Mr. Hu who operates the bank's silver T+D product directly called the reporter a surprise. Although Mr. Hu lightened his position at a high position, he still lost nearly 20,000 yuan. The reporter learned that some long-silver T+D customers have been forcibly liquidated because they failed to pay the margin in time.
In 2008, China Construction Bank (4.19, 0.20, 5.01%) seized the opportunity to vigorously expand the personal gold business, and the transaction volume increased rapidly. The annual gold business transaction volume was 250.85 tons, and the transaction amount reached 46.457 billion yuan, respectively compared with the previous year. Over the same period, it has increased by more than 8 times and more than 9 times.
According to Yahoo Finance, the US retail giant Macy's will close 68 stores and reduce 10,000 jobs. Coincidentally, US Hills Holdings also announced that it will close 108 Kmart supermarkets and 42 Sears stores this year.
On December 19th, Wang Hailu, Deputy General Manager of the Financial Market Department of ICBC, revealed that as of the end of November this year, ICBC’s account precious metal transaction volume had exceeded 910 billion yuan and the number of customers reached more than 3 million, an increase of approximately 380% and 84% respectively over the same period last year. %. The market ranks first in the industry.
On the same day, the price of silver futures for September delivery fell 11.3 cents to close at $27.499 per ounce, a 0.4% drop. Platinum futures for delivery in October rose by 5.9 US dSemi-precious metalsollars to close at 1458.3 US dollars per ounce, an increase of 0.4%.
On that day, the price of silver futures for delivery in March 2013 fell 42.6 cents to close at $30.78 per ounce, a drop of 1.37%. The price of platinum futures for delivery in April 2013 fell 32.7 US dollars to close at 1662.2 US dollars per ounce, a decrease of 1.93%.
Analysts said that they announced on Friday that they had quietly increased their holdings of more than 450 tons of gold reserves in the past six years. Many analysts said that the government's rare practice of revealing the above news to the public is just a prelude. Out of concerns about US dollar assets, it will accelerate the pace of buying gold from other government agencies or central banks.
The main reason for the rise in the prices of gold and silver is that the actual supply of gold and silver is tight. The United States and the United States used to be large silver exporters, but they have now become large silver importers. Xiao Lei believes that the output of gold and silver cannot be increased in a short period of time. The annual supply is limited and the supply cycle is long. It is difficult to change the current supply situation within three to five years. In the case of a steady rise in demand, the inability of supply to increase rapidly will lead to price increases.
Institutional investors from the gold bubble theory and the ten-year bull market theory have recently clashed. Institutional investors represented by Soros began to reduce their gold holdings in April and sold their share of gold ETF holdings. Other investors holding the gold bubble theory also continued to reduce their gold holdings in their portfolios in May. As a result, gold prices lack the cooperation of institutional speculation. The world's largest gold exchange fund (ETF) SPDRGoldTrust holdings are generally shrinking, with a total reduction of 13.12 tons from June 1 to 16.