In July, commodity king Rogers warned investors not to short-sell gold, and believed that the two biggest bubbles in the world today are actually coastal real estate and US Treasury bonds. At the same time, hedge funds led by Soros and Burbank began to sell large amounts of precious metals such as gold and silver, which intensified the decline in commodToday's precious metals market commentaryity prices. In the fourth quarter of that year, the spot gold price surged from US$1,160 per ounce to US$1,400 in November, and the increase rate exceeded 20% in more than three months.
At present, offshore hedge funds cannot directly enter the domestic futures market. However, we expect that this restriction may be passed through QFII and will be relaxed soon. At the same time, we will continue to closely monitor the further development of this restriction. Huang Wenyao said that hedge funds are just one of many participants in the market. In addition to actively using long and short strategies, the market share of hedge funds is very low. Relatively speaking, the long-short strategy actively adopted by hedge funds helps to improve market efficiency and market flow.
However, for the later trend. Morgan Stanley (MorganStanley) said on Monday that despite the global economic growth, there are still uncertainties in the macro policy environment. In addition, we believe that concerns about slowing down or introducing quantitative easing policies have been overstated. Real interest rates are negative, and global monetary policy easing is still maintained in 2013, which will support the price of gold.
On April 25, international silver prices are challenging the historical high of $50 per ounce. Domestic silver T+D hit the daily limit, rising to 10,686 yuan per kilogram. On the 26th, the myth of creating wealth was interrupted. The international spot silver price hit its biggest one-day drop in six weeks, and the intraday spot silver price fell by as much as 4.9% to a low of $44.62 per ounce on the day. At the same time, the silver T+D of the domestic gold exchange also plummeted, falling below the 10,000 yuan mark, and closing price was 9900 yuan per kilogram, a sharp drop of 786 yuan from the previous trading day, a drop of nearly 7%, setting a record for silver in recent years. Decline record.
However, Xiu Chengcai also reminded investors that they cannot ignore the impact of the Fed's liquidity recovery operation on the price of gold and silver. In an environment where ultra-low interest rates may end early and inflation expectations are suppressed, the price of gold and silver lacks the positive support of continued rising fundamentals. The current market is only maintaining a range under the demand for value preservation and the need for institutions to hedge foreign exchange trading risks. The band repeats.
On the same day, the price of silver futures for December delivery Today's precious metals market commentaryrose 21.6 cents to close at $32.959 per ounce, an increase of 0.66%. The price of platinum futures for delivery in January 2013 rose by $12.9 to close at $1645.2 per ounce, an increase of 0.79%.
A2: Generally speaking, the trend of silver price is consistent with that of gold. But compared to the 2011-2012 period when the price of gold was at a high level, the price of silver has fallen lower than the price of gold. Some people say that the price of silver is undervalued, but the market always makes sense.
1. San Francisco Federal Reserve Chairman Williams (JohnWilliams) said that maintaining the current highly stimulative policy stance is vital, and we must be prepared to take more measures to achieve the dual policy goals if necessary. He pointed out that if the outlook for economic growth deteriorates and the unemployment rate cannot continue to fall, it will provide a basis for more policy actions.