A number of banks released semi-annual reports showing that precious metal sales experienced a blowout in the first Environmental Handbook International Precious Metal Industry Focushalf of the year. Take the Industrial and Commercial Bank of China as an example. As of the end of June, the bank's precious metal business transaction volume has exceeded 85,000 tons, which is equivalent to 3.5 times the transaction volume in 2010. The total number of precious metal customers exceeds 3.7 million, and the customer base is rapidly expanding. In the first half of the year, ABC's precious metal sales business increased by more than 100%. Shanghai Pudong Development Bank also stated that since it started its personal precious metals business on behalf of the gold exchange this year, the single-day trading volume has been 2.4 times that of the entire year of last year since the beginning of the year.
Gold prices fell by about 1% on Tuesday, as low as $1235.6 per ounce, and rebounded to around 1243 on Wednesday morning. It may have recorded the biggest one-day drop so far in 2014, due to widespread market speculation that the Fed may announce further reductions in bond purchases at its policy meeting next week.
International silver prices on Wednesday (March 27) slowly recovered from the low of 28.63 in the New York session at the beginning of the Asia-Pacific trade, and rebounded to trading below 28.80, but they still have not shaken off the range of the month-to-date oscillation pattern. The market has gradually digested the Cyprus incident and its potential impact on the Eurozone, and the United States has again reported positive economic data, which has suppressed the precious metals market. Silver once followed the downward pressure of gold prices.
At a large-scale report conference hosted by China Financial Exchange, Galaxy Securities, and Galaxy Futures and co-organized by Galaxy Securities’ Guangzhou Sales Department, the reporter learned that although the current stock index futures turnover has fallen from the peak period of the first quarter, the daily The average transaction amount is still as high as 207.7 billion yuan.
However, Zijin Mining is one of the most active companies in the field of mining acquisitions in Central Asia in recent years. It has initiated many acquisitions of copper, silver and gold mining projects, but most of them ended in failure. Currently, Zijin Mining owns the Tajikistan ZGC gold mine in Central Asia, and is targeting many resource projects in Central Asia.
Cao Zhongzhong: The US economy is not optimistic. The European debt crisis is intensifying. Investors in the world are more worried about the currency market. The crisis of trust in paper money has forced investors to put their trust in gold again. The fall in the price of gold is only a short-term adjustment during the rise, not to meEnvironmental Handbook International Precious Metal Industry Focusntion a sharp fall. In the long run, the bull market for gold still exists.
Ding Yi told reporters that due to the small scale of platinum, it has greater volatility and greater risks. This can be seen from the recent trend of platinum. As soon as gold rises, the price goes upside down, but when gold falls, it falls more severely than gold. Strictly speaking, platinum is not an investment product for ordinary investors. Platinum does not have currency attributes like gold, nor does it have repurchase channels and corresponding markets. Except for a few banks that have opened personal account platinum trading services, physical platinum investment The meaning is not great, so it is not suitable for ordinary investors.
As far as gold is concerned, the expected depreciation of the U.S. dollar is enough to push up the price of gold to a higher level. However, due to a single supporting factor, once the U.S. dollar strengthens again due to the vague remarks of Fed officials or other factors, the short-term surge of gold will give the same Violent adjustments laid the groundwork, but the author does not expect this point in time to appear in the short term. And even if there is a sharp drop, its impact on long-term investors is relatively limited.
However, on April 6, the Indian government has pledged to consider abandoning the consumption tax on non-branded gold jewelry, and Indian jewellers suspended the longest nationwide strike in history. As India’s physical demand was suppressed in March, it is expected that demand will recover to a certain extent after the jewelers’ strike ends in April. As the country with the largest demand for gold, the recovery of demand in India will support gold prices.