Some professionals analyzed Canada's best penny stocks gold stocksthat, in fact, the excessive rise in the price of gold in the past few years has paved the way for today's endless decline. Gold does not create wealth. During the financial crisis, gold was hyped up. The price of gold soared from around US$500 per ounce to around US$2,000. The cumulative increase in five years was as high as 300%.
According to a person from a gold jewelry processing factory who did not want to be named, last year they sold these wholesalers at a minimum processing fee of 3 yuan per gram, and this year it was as low as two yuan, down by one third, and the profit of the mall was even thinner. Maybe last year's profit was good, and last year's profit was so attractive. Now that it’s thinner, it’s okay to be able to achieve this amount. If you can’t achieve this amount, you will lose money if your profit is thin.
Although the gold market has gained more than 15% so far this year, the recent fall in gold prices has made investors wonder whether the upward trend in gold prices has reached the end. The Dutch bank (ABNAMRO) pointed out that in the case of a very high level of net long positions in the gold futures market, it does have concerns about this. The bank said that this will limit the upward mobility of gold prices in the short term. On the other hand, compared with the top levels in 2010 and 2011, there is still room for net long positions to increase. In addition, gold ETFs are still increasing, and there is room for increase. The bank believes that the current financial market is waiting for driving factors to push the price of gold further up to a level above $1,280 per ounce. Any major economic data that is worse than expected may be a factor waiting for the market. This week the market is concerned about Friday’s non-agricultural data, etc. If these data perform disappointingly, then the price of gold can even exceed the $1,280 per ounce level. ABN AMRO also believes that if the non-agricultural data is in line with expectations, the price of gold will continue to fluctuate in the area of US$1,280 per ounce. Source media_span_url('finance.ce.cn/rolling/201604/01/t20160401_10043995.shtml')
What is really afraid of. Last year, it was about this time that the international gold price dropped, and we will go down accordingly. Zou Fangyu (pseudonym), a shopping guide at a jewelry counter on Huangxing Road, Changsha City, is still fresh in his memory when talking about the sharp drop in gold last year on April 15th. What’s interesting is that one year later, the international gold price could repeat the same mistakes. On April 15th, it fell below the $1,300/oz integer mark, a record high.
The total amount reached 10.093.7 million yuan. Article 46 of the "Anti-Monopoly Law of the People's Republic of China" stipulates: Once an operator is found to have reached and implemented a monopoly agreement or abused a dominant market position, the anti-monopoly law enforcement agency will order the suspension of illegal activities, confiscate the illegal income, and impose a penalty. A fine of 1% to 10% of annual sales. For this penalty, the National Development and Reform Commission set a minimum penalty of 1%. Based on this calculation, five gold stores including Lao Fengxiang made more than 1 billion yuan in illegal profits in Shanghai in 2012, with an average of about 200 million yuan each. Lao Fengxiang’s financial report shows that its 2012 jewellery product revenue was 19.4 billion yuan. However, the penalty is only calculated based on the income of gold and platinum jewelry sold in the region. People's Finance and Economics learned that Lao Fengxiang and other gold stores and the association received the "Administrative Punishment Notice" last week. In an internal meeting organized by the association, the enterprise involved in the case expressed that it accepted the above-mentioned penalty decision and did not initiate an administrative reconsideration, defense or hold a hearing. According to investigations, the association organized several competing member units in July 2007, January 2009, October 2009, February 2010, and November 21, 2011 to discuss and formulate the "Gold, Platinum The “Detailed Rules for the Implementation of the Self-discipline of Jewelry Prices” stipulated the method for calculating the retail price of yellow and platinum jewelry, the calculation formula, and the price fluctuation range. During the 315 period in 2013, a series of survey manuscripts published by People's Daily Online exposed the price monopoly in the gold retail industry, which attracted the attention of the National Development and Reform Commission. In May and June this year, the Municipal Development and Reform Commission and the National Development and Reform Commission twice interviewed the heads of the Gold Jewelry Industry Association and 13 major gold shops, and filed an investigation into the gold jewelry price monopoly case. The National Development and Reform Commission introduced to the media that after the law enforcement agencies launched relevant investigations, the enterprises involved in the case submitted the "Self-Acceptance Report." At present, the association and Lao Fengxiang and other enterprises have proposed specific rectification measures: the association promised to thoroughly review the errors through the general meeting of the directors, and issued a document to completely abolish the "price self-discipline rules", and no longer organize price self-discipline related meetings. Earlier, Xu Kunlin, Director of the Bureau of Price Supervision, Inspection and Anti-Monopoly of the National Development and Reform Commission, clearly stated to the media that the case of the price monopoly of yellow platinum jewelry is a typical horizontal price monopoly case. The Gold Jewelry Industry Association is suspected of organizing competing companies to reach a monopoly agreement on the price of yellow platinum jewelry through industry meetings, agreeing on the price calculation formula for yellow platinum jewelry and limiting the range of corporate price fluctuations, limiting and excluding the price of yellow platinum jewelry in the market Competition has seriously damaged the legitimate rights and interests of consumers.
Although central banks bought 93 tons of gold in the third quarter of 2014, a year-on-year decrease of 9%, this is the 15th consecutive quarter that global central banks have become net buyers of gold. The report pointed out that the driving factors behind it include the continued reduction of diversified asset reserves in US dollarsCanada's best penny stocks gold stocks by central banks and the background of the continuing geopolitical crisis.
International oil prices fluctuated and fell on Monday. US crude oil December futures once set a four-week low to 47.82 US dollars per barrel, and Brent crude oil January futures touched as low as 49.73 US dollars per barrel. Last weekend, the two oil-producing countries met on production cut related matters. No progress has been made, but it has revealed that some OPEC countries and some non-OPEC countries are unwilling to cut production, and the bulls have left the market to wait and see, which has caused a drag on oil prices.
Data released on Thursday (August 25) showed that the monthly rate of durable goods orders in July grew better than expected, and the month-on-month rebound achieved a substantial rebound, indicating that the US manufacturing industry will continue to grow steadily in the second half of the year. The U.S. Department of Commerce (DOC) announced that U.S. durable goods orders in July increased by 4.4% compared with the previous month, which is estimated to increase by 3.3%, and the previous value was down by 4.2%.