On the 24th, investment experts from the Jiangxi Gold Trading Center of Zhaojin Group stated that although gold still has room for growth, in the context of the global capital market plummeting, the reason for the strength of gold mainly comes from its special response to inflation and hedge against risks. Function, followed by profit function,Precious metal detector and the greater the volatility of the gold market, soaring rises and falls will occur at any time, so people who expect gold speculation to become rich overnight need to adjust their mentality.
JamesSteel: We are bullish on the gold market in the medium to long term. The average international spot gold price in 2011 was US$1525 per ounce, but this year’s fluctuation range is very large, and it may reach US$1600 per ounce in the next few months. In 2012, the average price will fall back to around US$1500 per ounce, but the fluctuation range will be Narrower than this year.
From a fundamental point of view, the annual output of mineral gold is about 2500 tons, while the demand for gold jewellery and gold investment continues to grow. Since last year, official institutions have changed from net sellers in the gold market over the past 20 years to net buyers. In the future, we will realize the diversification of reserve assets and reduce the risk exposure of the US dollar. The emerging market countries such as Mexico, Russia, Thailand, South Korea and other emerging market countries will greatly increase the gold reserves. According to the data of the World Gold Council, the official agency has purchased about 200 tons of gold in the first half of this year. European central banks have also become net buyers of gold for the first time in 26 years. It is important to know that in the past 20 years, official institutions have sold about 400 tons of gold each year. The change in the role of central banks in the gold market is profound and this trend has just begun. Due to its sustained and rapid economic growth, the demand for gold has also continued to grow. Since last year, its growth rate has been impressive. In the second quarter of this year, the investment in gold bars and coins and the demand for gold jewellery in the two major markets were respectively Accounted for 52% and 55% of the global total, this strong growth momentum will continue for a long time. In addition, the continued fermentation of the European debt crisis, the sluggish global economic outlook and geopolitical uncertainties still exist as the main supporting factors for the rise in gold prices. Therefore, the gold bull market is still difficult to end.
Xinhuanet, Chicago, September 8th (Reporter Zhu Zhu) Supported by weaker-than-expected US job market data, coupled with a large number of bargain-hunting buying orders, international gold prices rebounded strongly on the 8th. On the same day, the most actively traded December contract on the gold futures market of the New York Mercantile Exchange closed at $1,857.5 per ounce, an increase of $39.9 or 2.2% from the previous trading day.
On Tuesday (July 24) in Asia Pacific morning trading, the price of gold traded sideways. The market has returned to Europe, the yields of Spanish government bonds stand above the warning line, and the troika will also visit Greece today. On the contrary, US Treasury yields have continued to fall, and the rise of the dollar has become the first shackle of gold prices.
Driven by the continuous emergence of risk events, international gold prices cPrecious metal detectorontinued to rise. Yesterday, the Asian market hit a six-week high in early trading. After a substantial adjustment since September, gold has now been favored by more and more buyers. Analysts predict that the historical high pressure created by spot gold in September will be greater. Although the price of gold recently has the willingness to challenge the historical high, it is more Large-scale shocks are still inevitable.