JamesSteel: The answer is yes. The United States, Canada, Australia and South Africa are the main gold mining countries. HSBC's field research data shows that 1 ounce of gold can be extracted from 1 ton of ore in South Africa in 1970, but now only 2.5 tons of ore can be used to extract 1 ounce of gold. . The cost of gold mining has also risen to 500 to 900 US dollars per ounce, and even reaches 1,250 US dollarsEl Capitan Precious Metals News per ounce.
On March 8, 2004, the statement of the second central bank gold agreement was released, which was the same as the first one and lasted for 5 years. Starting on September 27, 2004 (CBGA1 expired on September 26, 2004), the second gold sale agreement confirmed the 1999 statement that gold is still a very important reserve asset. The upper limit for the sale of gold by the Allies increased by 500 tons to 2500 tons. As for gold lending, the second agreement states that the total amount of gold loans and the total amount of gold futures and options cannot exceed the amount specified in the first agreement.
This year, our development has encountered a bottleneck. The company has many orders, but it is difficult to complete them. The person in charge of Shenzhen Tongxin Jewelry revealed that because manual operation has always been the mainstream in the jewelry industry, some handmade jewelry products such as tight chains are in short supply, and jewelry companies are all out of stock. We urgently need to promote transformation and upgrading and increase productivity through standardization.
Boosted by factors such as the European Central Bank's possible launch of quantitative easing and the failure to reach an agreement in the Russian-Uzbek natural gas negotiations, precious metals rose last trading day (10th). Among them, London Gold opened from US$1252, and reached around US$1,363.30 in the intraday trading. It fell slightly in late trading and closed at US$1259.35. It rose by US$6.8, an increase of 0.54%, at various times throughout the day; spot silver opened at US$19.05. , The highest is 19.24 US dollars, the lowest is 18.95 US dollars, closing up 0.11 US dollars to 19.16 US dollars, an increase of 0.58%.
In terms of platinum group metals, INTLFCStone analyst Edward Meir said on Monday that the South African production pipeline is still not reliable enough for the remainder of this year. More importantly, platinum is expected to continue to experience deficits this year. At the same time, demand for platinum is expected to remain strong due to strong auto sales in multiple markets.
In addition, compared with the North American and European markets, gold ETFs, one of thEl Capitan Precious Metals Newse important gold investment needs, are still in the early stage of development. According to the study of the World Gold Council, the speculative mentality of investors is more closely related to gold ETFs. About 54% of investors define their main purpose of investing in gold ETFs as speculation or hope to obtain short-term returns. However, it is worth noting that although the total amount of gold ETFs held by investors in the first half of this year has fallen again, the acceptance of digital innovation of financial products by gold ETF investors is very high, which is important for the transformation and upgrading of the gold industry and the deepening of finance. Reform has a positive role in promoting.
It can be seen from the draft of the futures exchange that the minimum trading margin ratio for standard silver futures contracts is 7%, the trading unit is 15 kg/hand, and the delivery unit is 30 kg. At present, the minimum trading margin ratio of Ag(T+D) deferred products on the gold exchange is 10%, the trading unit is 15 kg/hand, and the delivery unit is 15 kg.
JPMorgan Chase & Shing lowered its 2013 gold price forecast from the original US$1745 per ounce to US$1595, and lowered its gold price forecast for the second quarter by 18% to US$1,450 per ounce. Merrill Lynch lowered its gold price forecast for this year by 12% to $1,478 per ounce.