Our initial investment direction was gold futures in New York, USA. As a high-end entrusted overseas investor, Tao Xingyi particularlPrecious metals futuresy emphasizes risk. He once said to a friend with a smile: My risk control ability should be slightly better than Zhang Weixing. Zhang Weixing is the president of Beijing Gaode. He accurately predicted the bull market of gold in 2006. However, due to the high leverage, he suffered a violent position in the adjustment when gold rose.
In addition, Wang Long reminded that you cannot guarantee the purity of gold bars when you buy gold bars in some unknown brand gold stores, because sometimes one thousand pure gold (Au999) is missing a '9' and it is difficult for other merchants to detect it. Therefore, the potential risk of online shopping of these unknown brand gold bars will be very high.
On the same day, the price of silver futures for March delivery fell 71.7 cents to close at $31.722 per ounce, a decline of 2.21%, the first drop in the last 8 trading days. The price of platinum futures for April delivery fell by $8 to close at $1683.8 per ounce, a decrease of 0.47%.
JanneyMontgomeryScott Chief Investment Analyst Mark Luschini pointed out that in the face of impending default and credit rating downgrade in the United States, negotiations on raising the debt ceiling have not made any progress, which choked the market.
From the perspective of the monetary system, the current international monetary system is a credit monetary system endorsed by national credit. This system is the embryonic form of the Bretton Woods system established in 1945 through the link between the U.S. dollar and gold. After the U.S. dollar was decoupled from gold in 1971, a credit currency system endorsed by the credit of various countries was finally formed. The status of gold in the monetary system is continuously removed by the credit of the country behind the US dollar. After the U.S. dollar replaced gold in disguise, it has further realized the continuous improvement and consolidation of its global status through the continuous release of liquidity and cross-border capital flows.
Judging from the current rise in gold prices, a 10% increase does not seem difficult. Since the beginning of this year, the international gold price has risen like a rocket. It has climbed from more than 1,300 US dollars per ounce to a peak of 1,900 US dollars per ounce. On the 10th, it has also stabilized to more than 1,600 US dollars per ounce, with an increase of 23. %. And if in 2010, the international gold price was around US$1,000 per ounce, the increase would be even morPrecious metals futurese impressive.
Since last week, the market's safe-haven demand for gold has significantly weakened. On the one hand, the European and American stock markets and crude oil and other bulk commodity markets have stabilized and rebounded significantly, attracting the continued return of funds withdrawn to safe-haven assets in the early stage, and relatively reducing the attractiveness of gold and the market sentiment that promotes gold prices; on the other hand, gold ETFs The obvious reduction in holdings also shows that the market has passed the early stage of emotional tension. The world's largest gold ETF SPDR fund's gold holdings dropped by nearly 60 tons, a decrease of 4.65%, and the gold holdings fell to around 1,230 tons, which was the lowest in a month.
Yesterday (3rd), the European Central Bank decided to maintain the interest rate of 0.25% at the interest rate meeting, while maintaining the marginal interest rate of loans at 0.75% and the deposit interest rate of 0%. Affected by this news, the euro is under pressure, and non-US assets such as gold are also driven downward. As of the end of the U.S. market overnight, London Gold reported $1286.36, down $3.06, or 0.24%. The London Silver News reported $19.83, down $0.13, or 0.65%.