InformationGCI gold trading website Economies said in a report released on Wednesday (November 2) that gold is close to the first target of $1,297.74 per ounce, and the 50-day moving average continues to provide support for the rise, and the price of gold is expected to move towards 1375.00. Therefore, as long as the price of gold stabilizes above US$1275.00/ounce and US$1249.94/ounce, the upward trend will continue to be effective; if the latter is broken, it will push the price of gold back to US$1211.31/ounce, in any new rise prior to. It is expected that the intraday trading range will be carried out between the support level of 1275.00 and the resistance level of 1315.00. Expected trend today: rising
Compared with gold QDII, gold ETF invests in spot contracts on domestic gold exchanges, and there is no need to consider exchange rate factors at the same time when investing. Fund redemption is similar to ordinary domestic open-end funds, with quick receipt and participation in secondary market transactions; and gold futures In comparison, gold ETFs have no leverage, low investment risk, lower entry barriers, and low participation qualification requirements. At the same time, the design of investment targets supported by physical contracts and professional management of funds make their investment risks lower than that of futures products; compared with paper gold In contrast, gold ETF products are fund products, which can be received through redemption and secondary market trading, and there is no redemption risk; compared with physical gold, gold ETF investment objects are stored in the accounts opened by the gold exchange , To avoid storage risks, and at the same time use asset securitization to strengthen the liquidity of gold investment assets and avoid the risk of cashing out in time when gold prices fluctuate.
In the European market, due to increasing uncertainties in the economic growth prospects of emerging markets, turbulence in financial markets and commodity markets, and geopolitical risks, the European Central Bank’s previous outlook faces increased downside risks. The latest data shows that from the beginning of 2016 to the present, under the impact of a series of negative factors, the economic data of the euro zone has been weak, the recovery trend has been repeated, and the uncertainty of economic growth has also affected market confidence. Therefore, the European Central Bank may continue to take more aggressive measures to boost the economy. President Draghi also said that the current level of inflation in the Eurozone is weaker than expected, inflation expectations are declining, and wage growth is relatively weak, suggesting that stimulus policies may increase. On the whole, the fundamentals of the Eurozone economy are not optimistic. Although supported by easing policies in the short-term, the marginal effect has diminished and the medium- and long-term upside is still limited.
Affected by the Fed's support for loose monetary policy last week, international gold prices this week followed a V-shaped trajectory of falling after a sharp rebound and then rebounding. It was reported at $1,318 per ounce at 23 o'clock on Friday. The international silver price finally crossed the US$20 per ounce mark, and the domestic spot gold price reported 267 yuan per gram. In terms of fundamentals, the information this week was mixed. At the same time, the gold limit order introduced by India at the beginning of the week did not stop the enthusiasm of Indians to buy gold, and the negative impact on the price of gold was weakened. On Thursday, the Indian gold premium once soared to US$20 per ounce. Indians wanted to hoard enough before the holiday. Too much gold has led to tight supply in the market. At the same time, according to the requirements of the new policy, the country's banks are restricted in importing gold, and industry insiders predict that the premium is likely to rise to the level of 30-40 US dollars per ounce, which will generate a certain positive boost to international gold prices. Strong demand has not changed the bearish attitude of large institutions. The ETF continued to reduce gold in small steps. On Thursday night, the gold holdings of the world's largest gold ETFSPDRGoldTrust decreased by 2.40 tons, indicating the medium-term bearish attitude towards gold. Silver has more profit opportunities. After this round of short-term rebound, the market has returned to the wait-and-see atmosphere. Institutional investors are searching for more decisive fundamental news, hoping to see the future trend of gold. The Federal Reserve meeting next week will guide gold prices in the short-term Direction. The price of silver rebounded violently this week, with a weekly increase of close to 5%. Institutional investors have a strong willingness to do more, and silver ETFs are increasing their positions slightly. Guangzhou Jinming Precious Metals Li Shengzhi believes that the volatility of silver prices will intensify in the next six months and will show a sharp volatility; if there is a chance to break through the US$21.4/oz mark, it may go higher. For this reason, for silver, there are more opportunities for range operation and more room for profit. (Well Nan) Author: Wells Nan (Source: Guangzhou Daily) media_span_url ( 'gzdaily.dayoo / html / 2013-07 / 27 / content_2333552.htm')
The Federal Reserve announced on Wednesday (September 21) that it would maintain the upper limit of 0.5% and the lower limit of 0.25% of the federal overnight funds rate unchanged, and said it would wait for more data to appear before considering an interest rate hike decision. FOMCA said in a statement that despite the steady growth in employment and strong household spending growth, commercial fixed asset investment remains weak, and market-based inflation indicators remain low. It is expected that the economy can only guarantee a gradual increase in interest rates.
The European Central Bank acknowledged that the loopholes in the euro area banks are stillGCI gold trading significant and that the euro area banking industry has serious vulnerabilities. Although the financial market environment is relatively benign, concerns about debt sustainability may reappear. In the worst-case scenario, political uncertainty may renew pressure on the sovereign at risk.
The jewelry store manager Qu said that during this period, the price of one thousand pure gold soared from 325 yuan/g to 355 yuan/g, and their daily turnover remained at about 30,000 yuan. Because the price of a single product has risen, in fact Sales have fallen slightly. The Chow Tai Fook counter of Intime Department Store also stated that this is the case.