Standard and Poors (Standard and Poors) on Monday lowered Italy's sovereign rating by one notch, and the outlook remains negative, and said the downgrade reflects its views on Imperial precious metalsthe weakening prospects of Italy's economic growth. Standard & Poor's announced that it will lower Italy's long-term and short-term sovereign debt ratings from A+/A-1+ to A/A-1.
ANZ analyst Mark Pervan said: It is expected that the short-term gold price will fall to US$1,100 per ounce again because the US economy is gradually recovering and economic growth is slowing down. However, I don't think this level will last long, because low prices tend to cause strong buying in Asia, which supports gold prices.
From March to October 2008, when the subprime mortgage crisis was intensifying, the price of gold was sold off along with other commodities, falling from US$1,033 to US$681; what puzzled investors was that the price of gold was borrowed from Europe from May to September 2011. The debt crisis and U.S. debt problems started from 1,500 U.S. dollars and went straight to 2,000 U.S. dollars, hitting a record high of 1923 U.S. dollars. Then, when the U.S. debt problems eased and the European debt crisis intensified, the price of gold fell sharply, especially in the summer of 2012. When worries about Greece or its withdrawal from the euro zone heat up, the price of gold has dropped to $1,550.
On the same day, the most active June gold futures price on the New York Mercantile Exchange gold futures market closed at 1595.7 US dollars per ounce, down 11.5 US dollars from the previous trading day, a decrease of 0.72%. Gold prices fell 0.7% this week, rose 1.1% in March, and fell 4.8% in the first quarter of 2013.
Beginning on May 2, the price of gold in New York fell from a peak of $1574.8 per ounce. It has fallen 4.2% in a week and has been transmitted to the gold jewelry consumer market. Yesterday, the reporter visited gold shops in the city and learned that the price of gold jewelry has dropped from the highest peak of 419 yuan/gram during the May 1st period to about 400 yuan/gram, and the merchants have a lot of promotion efforts, and some merchants’ actual transaction price is higher than the listed price. Still low.
On that day, the price of silver futures for December delivery rose 96.9 cents to close at $32.411 per ounce, an increase of 3.08%. TImperial precious metalshe platinum futures price for October delivery rose by 30.2 US dollars to close at 1567.5 US dollars per ounce, an increase of 1.96%.
Royal Bank of Canada's Capital Markets Global Futures Division (RBCCapitalMarketsGlobalFutures) vice president George Gero said on Tuesday (August 23) that gold fell from record highs due to profit taking.