On that day, the price of silver futures for delivery in July 2013 rose 12.1 cents to close at $23.927 per ounce, an increase of 0.51%. The price of platinum futures for delivery in July 2013 rose by 23.7 US dollars to close Price per gram of precious metalsat 1504.9 US dollars per ounce, an increase of 1.6%.
Our plan is to build about 30 settlement bases across the country by the end of 2015, basically covering the main production areas of rare and precious metals in the country. Cao Minghui said that if this vision is realized, domestic rare and precious metal companies can basically achieve zero corporate inventory and timely purchase and sales.
Ireland’s debt problem has once again become the focus of the market. The spokesperson of the Irish opposition Labour Party said on Thursday that it would oppose the European Union’s IMF’s Irish aid plan when the Parliament held a vote next Wednesday. This caused market concerns to rise sharply. At the same time, the international rating agency Fitch ) Announced the downgrade of Ireland’s sovereign rating.
The short-term purpose of hedging by large gold miners is to use the funds from selling spot gold to buy up 5-year gold forward trading contracts. Since the 5-year forward price jump of gold can often drive the spot price of gold stronger, miners use this to artificially increase the spot price to lock in higher mining profits and save themselves from operating losses.
Previously, relevant parties in the United States had announced that their domestic demand for gold coins had set a historical record. At the same time, the poor economic data in the United States may force the Fed to continue its debt purchase measures for a longer period of time. This indicates that the price of gold should rise sharply. But in fact, this situation did not happen, which shows that the gold market has not got rid of the previous weak pattern. If the dollar rebounds thereafter, the price of gold may usher in a new wave of sharp decline.
Indian demand in the first quarter of 2012 was affected by a number of factors, including: new taxes on gold jewellery, two increases in gold import tariffs, and the weakness and volatility of the Indian rupee. Demand for gold jewellery fell 19% to 152.0 metric tons compared to the first quarter of 2011. Investment demand fell 46% year-on-year to 55.6 metric tons. However, in May, the Indian government withdrew the new tax imposed on gold jewellery. The market has already responded positivelyPrice per gram of precious metals, and demand is expected to return to the previous level.