Fundamentally, housing starts in the United States increased by 14.6% in June, with an annual rate of 629,000 households, the highest Precious metal trade lease workgrowth rate since January; Germany’s ZEW current status index was 90.6. Better-than-expected economic data boosted risk sentiment. At the same time, US President Barack Obama expressed support for the new fiscal deficit reduction plan proposed by the two parties and said that the differences between the two parties are diminishing, which to a certain extent eased the US debt ceiling after the expiration. Worries about debt default will occur. Investors dumped safe-haven products such as gold, silver and Swiss francs, and funds flowed into the stock market.
1. Dragged down by the sovereign debt issue, recent European bank stocks have been under heavy selling pressure. As the most important link in the real economy, the risks that the banking industry resurfaces have also brought a greater drag on the recovery of the European economy. The economic downturn and the lingering debt crisis have also caused the outside world to change the policy expectations of the European Central Bank. Prior to this, the European Central Bank has made it clear that it will take the suppression of inflation as its top priority, and in April this year it initiated the first interest rate hike since the financial crisis. Last month, the central bank announced another interest rate hike, raising interest rates to 1.5%. However, with the rapid changes in the situation, analysts now begin to believe that the central bank has to adjust its thinking and slightly slow down the pace of tightening. There are even predictions that the European Central Bank may turn around and cut interest rates. The Royal Bank of Scotland analysis team wrote in a research report that other central banks are also under pressure to solve new problems, so it is not impossible for the European Central Bank to cut interest rates. According to the report, if other central banks adopt new quantitative easing policies or the market has serious financing problems, the European Central Bank may cut interest rates. European analysts said that as the global economy slows and the European debt crisis worsens, the European Central Bank may face pressure to cut interest rates.
Standard & Poor's stated that the lack of necessary measures to stabilize the government's medium-term debt prospects in the recent debt ceiling agreement between the US government and Congress is the main reason for the downgrade. S&P also stated that the downgrade reflects the view that the effectiveness, stability, and credibility of U.S. policymaking and political institutions have weakened in the context of a series of financial and economic challenges, and that the degree of weakness exceeds that on April 18, 2011. Japan placed the sovereign rating on a negative outlook.
In addition, Egan-Jones downgraded Spain's rating from CCC+ to CC+. The rating agency has downgraded Spain's rating six times in the past three months. According to the agency, Spain has a 35% chance of default in 2013.
On the previous trading day (19th), the price of precious metals rose first and then fell. Boosted by factors such as the Indian election and tensions in Libya during the Asia-Europe period, it once rose above the $1,300 mark. Subsequent to the suppression of tensions between Russia and Ukraine, the withdrawal of Russian troops and the upward trend of US stocks, the precious metals quickly fell back to the early Asian-European trading range. As of the close, London Gold reported $1,292.35, down $0.87, or 0.07%; spot silver reported $19.34, down 2 cents, or 0.1%.
From a fundamental perspective, the answer is that NO is more reasonable, but the price of gold tends to be dominated by technology. Because there is no dovish, it is a hawkish only for the impact of the short-term market (knee-jump reaPrecious metal trade lease workction), and although the Fed statement looks like a hawkish, after the statement, many institutions still have a serious tendency to postpone the time when the Fed initiates interest rate hikes. .
On the last trading day (13th), the U.S. stock market continued to fall sharply, and the VIX panic index rose sharply. Gold continued to move higher, boosted by risk aversion. In the past six trading days, London Gold One has gained 44.91 US dollars, an increase of 3.77%. As of yesterday's close, it was quoted at US$1,236.30, an increase of US$13.39, or 1.09% on the day; spot silver followed the upward trend of gold, but the outcome was relatively small. Data information shows that silver rose by 0.1 US dollars to 17.47 US dollars that day, an increase of 0.58%.