However, in the context of the current large fluctuations in international gold prices, gold futures have more practical significance for bankIs the precious metals market open on Black Friday?s, and the needs of various banks will be different. It is understood that the Industrial and Commercial Bank of China (601398, stock bar), one of the approved self-employed members this time, has a large-scale paper gold business volume. As a market maker, its excess positions can be done through the gold exchange and futures exchanges. Hedge. The Industrial Bank (601166, stocks) is characterized by a relatively large self-operated gold exchange. After becoming a member of the Shanghai Futures Exchange, it can arbitrage the price difference between the futures and spot markets, and within a certain risk range, it may also do A small number of directional transactions. Although the bank (601988, stock bar) is not among the self-operated members of gold futures this time, it has the unparalleled advantages of other banks in terms of risk-free arbitrage in internal and external markets due to its global trading platform and gold import and export rights , Naturally there is also a very large potential demand for domestic gold futures.
However, Crane added that at the moment gold is not without any good fundamentals, such as geopolitical instability, the cyclicality of US interest rate tightening, and the demand for physical gold dominated by Asia. With the steady growth of India and demand, I believe it can benefit gold in the long term.
Dayou gold analyst Xue Xiyong believes that in the short term, after the gold price repeatedly tested $1,530, the triple bottom pattern gradually appeared; the MACD indicator rose, forming a golden cross below 0, and the MACD column appeared sporadic red bars, which was short-term bullish; relative strength The indicator opens up around 50, and the rebound is expected to go further. Still pay attention to the pressure near the top of 1585 US dollars, below the support near the 1568 US dollars.
January 21st --- Spot gold fell on Wednesday due to profitability. It rose to the highest level in nearly two weeks yesterday; however, the record gold position of the listed exchange fund (ETF) implies that it will invest in the deepening of the financial crisis Interest in gold is still high. SPDRGoldTrustGLD, the world's largest gold-listed trading fund, claimed that it held a record 802.90 tons of gold as of January 20, an increase of 7.65 tons from the 795.25 tons as of January 15. It was quoted at US$851.00 per ounce, a drop of US$4.20 from the nominal closing price in the New York market yesterday. On Tuesday, the price of gold once got rid of the impact of the rise in the US dollar, and jumped to a high of 865.80 under the support of the huge loss of the British banking industry. Spot platinum (platinum) rose by 3.5 The US dollar to US$941.00 per ounce. The New York Mercantile Exchange (COMEX) gold futures GCZ9 fell by US$3 to US$852.2 per ounce in electronic trading. Spot silver was generally stable at US$11.17 per ounce; spot palladium rose by US$1.5. Quoted at $183.50 per ounce.
On the same day, the price of silver futures for delivery in March 2013 rose 26.2 cents to close at $32.439 per ounce, an increase of 0.81%. The price of platinum futures for delivery in April 2013 fell 6.7 US dollars to close at 1691.8 US dollars per ounce, a decrease of 0.39%.
Xinhuanet, Chicago, June 13 (Reporter Zhu Zhu) As investors’ concerns about inflation have gradually weakened, the market’s demand for precious metals such as gold has also been shrinking, leading to the continued decline of gold futures prices on the New York Mercantile Exchange on the 13th. The most actively traded August contract in the market closed at US$1515.6 per ounce, a drop of US$13.6 from the previous trading day. Market analysts believe that investors' concerns about the slowdown in global economic growth dominate the market, so inflation's supporting role in the precious metal market is weakening, leading to continued decline in the price of gold and other precious metals that day. Following the recent release of a series of disappointing data on non-agricultural employment in the United States, the economic data released by Germany, the United Kingdom, Australia and other countries have performed poorly. The Japanese economy, which has been hit hard by the earthquake, is also hard to expect. The economic growth of the world's major economies slowed down at the same time, causing investors to worry that the global economy will bottom out again. At the same time, Mike Daly, a gold analyst at Bailey Financial Group in the United States, said that investors' concerns about monetary policy tightening have also iIs the precious metals market open on Black Friday?ntensified with the series of economic data to be announced this week, which also constitutes a negative for the precious metal market. The closing price of the gold market that day set a record for the lowest closing price in nearly 3 weeks, and the price of gold fell by 0.9% in the last week. On the same day, the price of silver futures for delivery in July closed at US$34.737 per ounce, a drop of US$1.59 or 4.38% from the previous trading day. The platinum futures price for delivery in July closed at US$1806.8 per ounce, down US$26.2, or 1.43%.
But he believes that whether it is the stock market or the bulk commodity market, the phased strength should be treated as a rebound, and it is not appropriate to look at the market with the bull's eye that is nourished by chicken blood. The analysis of the influencing factors of the phased gold price still needs to return to the main line of the foreign exchange market and the subsequent evolution of the European debt crisis. Judging from the news this week, both European and American officials and financial market giants believe that the impact of the European debt crisis on finance and the economy is far from over. There is no reason for wishful thinking that factors can resolve the world financial and economic crisis. The continuation of the current rebound in gold prices is still an interlude in the adjustment of the big four waves and should not be blindly pursued. Yang Yijun said.