Affected by the rebound of the US dollar, the decline Quebec precious metalsin the stock market and the cautious and conservative market mentality, gold futures on the New York Mercantile Exchange fell for the third consecutive trading day on the 19th. Among them, the most actively traded December contract fell 5.8 US dollars per ounce to close at 1647 US dollars, a decrease of 0.4%.
According to the asking price given by the agency of the Hong Kong company in the Mainland, the general customer needs to pay a deposit of USD 1,000 for one lot (100 ounces) of London gold, and the handling fee is USD 1 per ounce, half of which is given to the company, and the other half is directly treated as The commission is divided among the agents. The London gold leverage provided by Hong Kong companies generally can reach 100 times, which fits the psychological expectations of this group of enthusiastic gold margin traders. So even if they realize the risk of being out of the game in an instant, the high rate of return and the extremely exciting pleasure behind it still attracts them to continue their dream of becoming rich overnight.
Global liquidity is the core of the fair value of gold. Standard Bank said in its latest research report that it is still bullish on gold. The report predicts that given that global liquidity is still rising, gold prices will rise further, and that the rise in global liquidity will no longer be driven too much by the actions of the Federal Reserve, but will be increasingly affected by government borrowing.
The adjustments in the price of gold and silver in the previous period were mainly caused by the excessively heavy speculative positions and the liquidation of long positions. Analysis by Xu Ming, a senior trader in a bank branch. He pointed out that although in the long run, the two basic factors of the strong gold, the increase in demand in emerging markets and the depreciation of the U.S. dollar, have not changed; in the short run, some risk factors are emerging: In June, the Fed’s quantitative easing policy will end, and The domestic inflationary pressure has made the market expect that from May to June, the central bank will raise interest rates again or it will become a high probability event. Therefore, the rebound in gold may temporarily end.
On Monday (August 5) in New York City, the spot gold price fell to around $1302 per ounce. The price of gold fell during the day, so the previous signs of continuous improvement in business activities in the UK and faster-than-expected expansion of US manufacturing activities have reduced the attractiveness of gold as an investment hedging tool; in addition, the rise in the yield of U.S. benchmark 10-year Treasury bonds also exerted certain pressure on gold prices. .
Albert said that the current cost of international resources is only US$450 per ounce, which is far lower than the average cost of US$694 per ounce for the world's top 10 gold producers in the third quarter of last year. Taking into account factors such as demand and supply and demand, and countries continue to issue currencies, there is still room for gold prices to rise in the future. The averagQuebec precious metalse gold price for the whole year of 2012 was US$1,668.98 per ounce. As of February 28, 2013, the average gold price for the first two months of 2013 was US$1,650.30 per ounce.
I am optimistic about how high the price can rise. We need to see the price of gold effectively break through $1,300 per ounce in order to meaningfully promote investors' attention. The price of gold must reach a level of at least $1,320 per ounce to increase power to the next level. He said.