There is still room for gold to rise. The interest rate hike of the US dollar is a weather vane for the reduction of global currency interest rates. According to the meeting records of the Federal Reserve, the earliest time for the US dollar to raise interest rates will also be in 2013. Therefore, the rising environment for gold remains unchanged. Global crises continue, from subprime mortgages to European debts, to future US debts and the possibility of CDS defaults. The impact and frequency of crises are also increasing.Gulf Precious Metals Review In this context, gold's natural risk aversion will be better reflected. DBS Bank research believes that gold still has room for growth in 2012 and may reach a high of US$2,100 per ounce.
On that day, the price of silver futures for delivery in September rose 13.8 cents to close at $27.161 per ounce, an increase of 0.51%. The platinum futures price for delivery in October fell 19.1 US dollars to close at 1412.5 US dollars per ounce, a decrease of 1.33%.
On August 10, the gold exchange market data showed that the trading volume of gold Au (T+D) that day was 38,340 kilograms (bilateral), the trading value reached 13.8 billion yuan (bilateral), and the open interest was 123,602 lots. Since the Golden Exchange Daily does not publish information on transactions and positions of specific institutions, reporters can only find out in the weekly report.
However, compared with the Federal Reserve meeting and the US non-agricultural employment data, the US government’s shutdown and the extension of the debt ceiling have relatively limited influence. The dominant factor in gold and oil prices is still the Federal Reserve’s monetary policy. The Fed's February interest rate meeting will be held at the end of the month. If it is achieved as scheduled, the price of gold oil may immediately go out of the trajectory of rising and falling; if it is accidentally stranded or suspended, the trend of gold oil may be greatly promoted.
Chen Jinlin summed up a set of practices, that is, when he invested 30 lots of silver T+D, 15 of them, regardless of short-term fluctuations, insisted on long positions until the target price was 8,000 yuan per kilogram. On this basis, we will operate 10 more short-term moves, sometimes long and sometimes short, selling high and buying low, fast forward and fast exit to make a profit.
From the perspective of the demand for gold jewelry, India was 294% in 2001 (India consumes 597.7 tons per year, 203.1 tons), but by 2010, the gap between the two countries has been greatly reduced to 145% (India 657.2 tons, 451.8 tons) . In less than 10 years, the difference between China and India has shrunk by half. In terms of quantity, the difference between the two countries is currently only 200 tons. The new wealthy class has juGulf Precious Metals Reviewst started to consume luxury goods and began to pay attention to gold investment and collection. It may not take another 10 years to catch up with India.