Bank of America Merrill Lynch wrote an article on Tuesday (April 19) that Gold tradingsilver's breakthrough in the Ichimoku cloud chart (or Ichimoku balance sheet indicator) and the horizontal neckline of $16.10 per ounce indicate that the price of silver will rebound to the historically important area near $18.59 per ounce. The cloud chart is also close to a bullish cross, and the MADC indicator has become increasingly bullish after crossing above zero. The momentum defined by RSI soared to the highest level in several years, indicating that momentum supports this trend. Source media_span_url('finance.ce.cn/rolling/201604/20/t20160420_10662297.shtml')
In addition, according to statistics, the current production and maintenance costs of major gold production areas in the world have been at US$1200 per ounce. Although gold has risen from the bottom, the overall production and maintenance costs are still hovering near its production and maintenance costs, which will effectively block the price of gold. There is a substantial downside, and crude oil prices are showing signs of strengthening again after the bottom is formed. This will bring support to the price of gold.
We have an inherent understanding of gold. For example, why people buy gold. He is different from Indians. Indians have a rigid demand for gold. Why? Because of his religion. After a person has a long-term value-preserving function in his heart, it becomes blood. When he sees gold, he feels comfortable. Many times he does not directly equate gold with the market price, so you see a person wearing it. Big gold ring, you will feel rich and rich. But when we peel off the packaging of gold a little bit, everyone really treats it as an investment product for serious analysis, and you will find that the psychology is actually not so easy for you.
The gold market performed weakly last week. In the week ending March 22, although the long position of Comex gold futures was still increasing, it was obviously not enough to promote the rise of gold prices. CFTC data shows that the gold long position increased by 15,255 lots, the short position increased by 133 lots, and the net long position increased to 144,899 lots. Bank of America Merrill Lynch (BankofAmericaMerrillLynch) pointed out that the current net long position in the Comex gold futures market is 99% of the all-time high touched three years ago. Bart Melek, head of commodity strategy at TD Securities, pointed out that the increase in net long positions was driven by an increase in long positions rather than a decrease in short positions, which is a positive factor in the gold market. Melek said: This shows that the market is still very strong. However, at the same time, Melek also said that the current gold market appears to be somewhat lacking in stamina, so it may fall further. Phillip Streible, senior market strategist at RJOFutures, pointed out that although the long position has increased, it is not enough to continue the current rise in gold prices. Streible said: I think the market is basically saturated and a lot of new buying is needed to push gold prices higher. Streible believes that more short sellers will enter the market, causing the price of gold to fall below the $1,200 per ounce level. Streible said: I think the 1190 level is a key level to pay attention to. Breaking below this level means that a lot of shorts will enter the market. Melek also expects that the price of gold will fall in the short-term, and it will be difficult to break through the resistance level of 1225 on the upside, which is why some investors have profited. Source media_span_url('finance.ce.cn/rolling/201603/30/t20160330_9947293.shtml')
In the following month and a half, she read the newspaper and found that the Fed's attitude has turned dovish, and the possibility of continuing to raise interest rates diminished. However, the gold price in mid-January 2016 was still fluctuating around 230 yuan/g. Aunt Chen began to build positions in batches cautiously. Initially, she bought 100 grams of gold at 232 yuan per gram, and then went to 236 yuan, 238 yuan, and 241 yuan to cover up her position three times. She bought 320 grams of gold in total. 76008 yuan of funds. In mid-May 2016, the price of paper gold went up all the way, as high as 270 yuan per gram. Aunt Chen sold it in batches and made another 9112 yuan.
Jiang Shu, chief analyst of Shandong Gold, said that the rise of gold in the first half of the year was clearly divided into two stages. The first stage was before March, driven by faGold tradingctors such as risk aversion and geopolitics. The second stage is driven by the risk-averse demand for Brexit after June. With the restoration of market sentiment after the Brexit referendum, it is reasonable for the supporting factors to fade.
Although the central bank's demand for gold fell by 3% year-on-year in the first quarter and 31% from the fourth quarter of last year, the World Gold Council believes that the central bank and other institutions are still net buyers. Wang Lixin said that the amount of gold held by central banks in developed countries such as Europe and the United States is relatively stable, and the purchases of central bank institutions are mainly from developers, which shows that these countries continue to pursue a diversified asset strategy of de-USD.
The first batch of gold ETFs in the industry were successfully listed on the stock exchange yesterday. Taking advantage of the trading price being lower than that of the gold exchange and the advantage of T+0 trading, the two gold ETFs had a total turnover of 380 million yuan yesterday, with more than 20% of hands changing hands. In the fiery trading atmosphere, Cathay Pacific Gold ETF and Huaan Gold Exchange (ETF) jointly unveiled a new scene of precious metals listing and trading on the securities market.
Last Friday, the US Commodity Futures Trading Commission CFTC data showed that as of the week of October 18, hedge funds and financial managers reduced their long positions in New York gold futures, which was the third consecutive week of reductions. The world's largest gold ETF, SPDR reduced its position by 16.6 tons last Friday, the largest single-day reduction since April 2013.
Palladium prices bucked the market and fell by 2.6% to $689 per ounce, softening from a four-month high touched on Friday. Dan Izzo, vice president of GlobalMarketingStrategyGroup, said that selling pressure comes from profit settlement, producer selling and short-term technical weakness after falling below the 200-day moving average.
Beijing News (Reporter Chen Bai) The international gold price plummeted 2% on Tuesday, US time, the lowest level in three and a half months. As of the close of the day, the main gold futures contract on the New York Mercantile Exchange fell by US$26.20 to US$1,265.50 per ounce. Gold tradingAffected by this, the stock prices of CICC Gold and Shandong Gold both fell to varying degrees. Kitco's global trading director Peter Hug said that under the pressure of recent US macro data, the international gold price fell below the initial support of US$1277 and then further dropped to the US$1262 level. If the price of gold falls below the $1262 defense line, it is very likely to look to the low of $1180 last year. According to Pan Jun, an analyst at Deyujin, this year, boosted by the US economy and the Ukraine crisis, the current price of gold has become increasingly difficult for safe-haven investors to accept. Author: Chen White media_span_url ( 'epaper.bjnews.cn/html/2014-05/29/content_514494.htm?div=-1') Click to enter  shares will participate in discussions Friends