Melting point of precious metals

Melting point of precious metals

Gold once again played the role of a hero in troubled times. WitMelting point of precious metalsh the increasing variables in world economic growth, the worsening of the European debt crisis, and the Fed's hint that it is still possible to further loosen its monetary policy in the future, the price of gold has risen for at least nine consecutive trading days recently and hit a record high. Some insiders even predicted that if the United States launches the so-called third round of quantitative easing monetary policy (QE3), the price of gold may rise to $2,000.

In addition to huge debts, the United States, the locomotive of the global economy, has also encountered a serious employment crisis. Many economists are pessimistic that Obama's latest $450 billion employment plan may not quickly change the unemployment rate as high as 9.1%. The US employment growth stagnated in August, and the market therefore speculated that the Fed would propose some form of expansion of the existing loose monetary policy later this month.

In early September, the deputy governor of the Central Bank of Russia stated that the central bank plans to buy 3 tons of gold this week and will continue to buy gold in the future. The country has continued to buy gold since 2008, and its gold reserves currently exceed 27 million ounces. In August, the Bank of Korea issued a statement stating that it bought 25 tons of gold from June to July, with a total value of US$1.24 billion. The overall gold holdings rose to 39.4 tons, accounting for 0.4% of foreign reserves. This is the first time the Bank of Korea has purchased gold since the Asian financial turmoil.

Overnight New York COMEX-August gold futures for delivery closed at 1283.1 US dollars per ounce, the highest was 1298.8 US dollars per ounce, and the lowest was 1281.3 US dollars per ounce, down 1.34% from the previous trading day. Overnight New York COMEX-September silver futures for delivery closed at $20.40 per ounce, down 0.89% from the previous trading day. The US dollar index closed at 81.45 points, up 0.06% from the previous trading day. The euro dollar closed at 1.3389, down 0.05% from the previous trading day. The price of light crude oil futures for September delivery on the New York Mercantile Exchange plunged 2.61% to close at $97.65 per barrel.

At least 10 gold processing companies in Shenzhen have closed down. Most of these factories have a scale of several hundred people. For example, the small and medium-sized gold processing companies that closed down in the Pacific Industrial Zone have two factories with an area of ​​about 800 square meters, which are considered mid-range companies. Yes, but it fell down. An industry insider told reporters this way.

However, some banks have set target prices for bullish or bearishMelting point of precious metals wealth management products that are too high or too low, and it is less likely to achieve the expected yield at maturity. Investors should respond to the direction of gold price fluctuations and the realization probability of the preset situation of wealth management products. Basic judgment, buy financial products on this basis, instead of blindly trusting the bank. Ye Linfeng said.

Overnight New York COMEX-August gold futures for delivery closed at 1283.1 US dollars per ounce, the highest was 1298.8 US dollars per ounce, and the lowest was 1281.3 US dollars per ounce, down 1.34% from the previous trading day. Overnight New York COMEX-September silver futures for delivery closed at $20.40 per ounce, down 0.89% from the previous trading day. The US dollar index closed at 81.45 points, up 0.06% from the previous trading day. The euro dollar closed at 1.3389, down 0.05% from the previous trading day. The price of light crude oil futures for September delivery on the New York Mercantile Exchange plunged 2.61% to close at $97.65 per barrel.

The key is to see whether the United States implements QE3. Lu Xiaocheng stated that President Dudley of the New York Fed said last Thursday (May 19) that people should not worry that the large amount of bank reserves created by the Federal Reserve (FED) may lead to an increase in inflation, and that the Fed’s third round of quantitative easing (QE3) The implementation of) sets a high standard. This seems to pave the way for the possible QE3 of the Fed in the future.