On the 22nd, US Treasury Secretary Geithner, Federal Reserve Chairman Bernanke, and New York Fed Chairman Dudley stated in a jPrecious metals news feedoint statement that they are confident that Congress will raise the $14.29 trillion debt ceiling by August 2. US President Barack Obama said that in any case the debt ceiling will be raised, and debt default is not one of the options.
According to statistics, at the current price level of 100 yuan 30 years ago, only 15 yuan of goods can be purchased. What about 30 years later? High prices and ineffective deposit interest rates have caused a serious shrinkage of the public’s assets. Countless investors have begun to pay attention to ways to fight inflation, not to make huge profits, but to maintain and increase the value of hard-earned money. From the historically high real gold and silver, the issuance of popular financial products, to the traditional stock market and fund investment, which method will become the investment keyword of the common people in the second half of the year?
The reason why swap traders of China maintain a net short position of more than 5 million ounces of gold is that so much gold is taken out of the vault for sale, which has aggravated the sentiment of the financial market to bearish gold prices. As the price of gold plummeted by about US$200 per ounce, the net short position of 5 million ounces of gold has created a floating profit of about US$1 billion.
The Standard & Poor's report stated that investors buying gold for the purpose of hedging inflation risks and financial market uncertainty will continue to support gold prices. However, according to market data, investment demand in 2009 exceeded jewelry demand, and it seems to have had a great impact on short-term prices. Standard & Poor's analysts warned that gold prices may still fluctuate sharply and tend to fall.
Comex's main gold futures fell for the third consecutive trading day on Thursday, as the sovereign debt issues in the United States and Europe made progress, which weakened investors' demand for hedging. Comex's most active August gold futures settlement price fell by US$9.90 to US$1,587 per ounce, a decrease of 0.6%.
On the same day, banks and some investment companies with silver business issued risk warnings to investors. At this time people who are afraid of heights began to short. However, on the 28th, Silver T+D regained the occupied position with a 7% rise. The fear of heights sacrifices a piecPrecious metals news feede.
FX168 News Recently, the Texas Senate passed a bill allowing gold and silver to be used as legal currency. After this plan is passed, it means that precious metals such as gold and silver can be used as trading currencies, and people can open accounts to deposit precious metals in funds, and use the electronic system to pay with the savings in the account. Michael Boldin of Tenth Amendment Center said: The most important thing is that this allows people to use gold and silver instead of paper money as payment methods. This approach will not make the Fed useless, but it is the right step in this direction.
The adjustments in the price of gold and silver in the previous period were mainly caused by the excessively heavy speculative positions and the liquidation of long positions. Analysis by Xu Ming, a senior trader in a bank branch. He pointed out that although in the long run, the two basic factors of the strong gold, the increase in demand in emerging markets and the depreciation of the U.S. dollar, have not changed; in the short run, some risk factors are emerging: In June, the Fed’s quantitative easing policy will end, and The domestic inflationary pressure has made the market expect that from May to June, the central bank will raise interest rates again or it will become a high probability event. Therefore, the rebound in gold may temporarily end.