Before the Spring Festival, polished, sandblasted and hollow bracelets of more than 30 grams have become the best-selling varieties in the gold market, and some styles of bracelets in some Track precious metal pricesspecialty stores and stores are also out of stock. In previous years, middle-aged and elderly people were the mainstream of gold bracelet consumption, but this year, luxury bracelets of 50 grams and 100 grams were injected with fashion elements by young people. Young consumers buy gold jewelry, and the style is positioned in fashion and novelty. For them, style is the first, and value preservation is second.
On the same day, the price of silver futures for September delivery rose 4.9 cents to close at $27.812 per ounce, an increase of 0.18%. The platinum futures price for delivery in October fell 2.9 US dollars to close at 1396.2 US dollars per ounce, a decrease of 0.2%.
Exxon Mobil shares closed down 2.2% to $74.59 after the company announced that its quarterly profit was the lowest in more than 10 years, and it expects capital expenditures to fall 25% from 2015 levels and postpone share buybacks. BP reported an annual loss of $6.5 billion earlier on Tuesday, the highest on record. The S&P Energy Index tumbled 3.3%, the biggest drag on the S&P 500 Index.
The financial market was turbulent overnight. Although the major global stock markets improved compared to the day before, they still fell inertially. The U.S. dollar index closed higher again, and today set a new high of 84.518 in a year. Under this premise, gold's performance is beyond words. Not strong. Yesterday, London Gold closed at Xiaoyangxian, which has a longer shadow line, and closed at $1174.93, up $3.13 from the previous trading day. On the domestic front, the main contract 1012 of Shanghai Gold opened higher today and oscillated higher in late trading. It closed at 258.20 yuan throughout the day, up 1.64 yuan from the previous trading day, and both trading volume and open interest increased.
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 gold 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.
The wolf will definitely come, but it is not enough for the little children in the villaTrack precious metal pricesge to shout. It is clear that the village chief tells everyone. But even if the wolf does come, the direction of the dollar cannot completely affect the price of gold. The speculative price of gold will be adjusted, but the hedging function of gold will not weaken.
The size of the European government's rescue fund is likely to control European debt risks in the short term, which will undoubtedly cause Europeans to be overconfident in the new firewall system. However, after the successful establishment of the isolation system, Greece may default, and abandoning Greece will become a fatal mistake for the European government, making the originally complicated issues more complicated. The second bottoming of the world economy is not groundless. A temporary pullback in the price of gold is by no means a sign of a bear market. The current decline will make the price of gold more enchanting.
The international gold price continued to decline overnight. Yesterday, the domestic Shanghai gold price remained volatile, and the entire line closed down. Among them, the main 1112 contract opened at 319.99 yuan per gram, closed at 319.00 yuan per gram, and returned to below 320 yuan per gram, a decrease of 0.44%.