On April 2, the person in charge of the futures exchange told this reporter that the membership applications of Industrial and Commercial Bank of China, Bank of Communications, Industrial Bank and Minsheng Bank were approved to become self-operated members of the futures exchange. This means that the above-mentioned four banks can directly participate in the gFranklin Gold and Precious Metals Fundold futures trading of the Shanghai Futures Exchange, and it is also the first step in the real sense taken by commercial banks in the futures market after my country has liberalized financial institutions to participate in futures trading controls.
In August, Syria’s use of chemical weapons to slaughter civilians caused possible US military strikes, triggering investors’ risk aversion, and international spot gold rose 5.3%. At the same time, according to foreign media statistics, the outflow of gold ETP holdings in August was only 16.8 metric tons, the lowest level of outflow this year.
Since the end of January this year, the characteristics of the same rise and fall in international gold and silver prices have become particularly obvious. Also after bottoming out on January 28, the pair launched a strong upswing together, setting new highs repeatedly, and then fell from the high platform together on May 2, but the silver market performed even more eye-catchingly. However, it seems that this situation seems to be divided.
According to Wu Zhengzheng, a researcher at the Beijing Interim Research Institute, the gold price's correction in the previous three trading days was mainly affected by the increase in the gold margin ratio of the Gold Exchange and the New York market and the high profit-taking factors of the fund. In the face of huge increases, gold's callback It is not sufficient. After three consecutive positives, gold may fall under pressure again in the short term. But in the long run, gold is still in the 20-year bull market cycle, and it is more likely to rise again after a full correction.
In 2014, the Gold Exchange regulated the over-the-counter gold inquiry business and the inter-bank gold inquiry business. The Golden Exchange provided fund clearing, settlement and physical delivery services on commission, but did not inherit the rights and obligations of both parties to the transaction. At the same time, it is responsible for the daily monitoring of the inquiry business and reports the relevant situation of the inquiry business to the People's Bank of China.
The minutes of the October meeting showed that FOMC memberFranklin Gold and Precious Metals Funds believed that the decision to launch the third round of quantitative easing (QE3) measures had eased the tensions in the financial markets and helped support the recovery of the US housing market. Several members of the meeting pointed out that after the end of the plan to extend the life of the assets, it may be appropriate to purchase further assets next year to achieve a sustainable improvement in the job market.