TD Securities (TDSecurities) said in the latest research report that the market's concerns about the US fiscal cliff have supported gold prices since the end of the US general election last week, but even after the issue is resolved, gold may remain shiny. According to the bank, the safe-haven demand for gold has attracted investors in an uncertain environment, although the strength of the US dollar makes gold more expensive. The company said that it is expected that the US fiscal cliff agreement will eventually be reached in some form, which means that market concerns about holding risky assets have declined. But if the Fed prolongs its reversal of operations (OT) and the Fed drives up inflation, Current precious metals marketthen gold as an asset will remain shiny in the medium term.
Yesterday, the highest international spot gold was 1462.50 and the lowest was 1449.60. The world's largest gold ETF fund: the US SPDRGoldTrust Fund Company has 1216.3 tons of holdings, a decrease of 3.34 tons. During the U.S. trading session yesterday, US President Obama expressed his efforts to reduce the US budget deficit by 4 trillion US dollars in the next 12 years by cutting spending and increasing taxes on the rich.
There will be no fewer than seven Fed officials who will speak this week. Tom DiGaloma, managing director of ED&FMan Capital, expects to get some information about QE's next move from the speeches of these officials this week. He said: I hope to see some Fed officials who did not want to be named in some news this week, saying that withdrawing from QE may be closer than we thought.
As the saying goes: The sound of a gun will make you gold. The tension on the Korean Peninsula immediately became the focus of world attention. Investors in the entire gold market are paying close attention to the development of the situation in North Korea. Whenever there is a war in the world, people have the willingness to buy gold. But how will the current North-South Korean shelling disputes and developments affect gold prices? Let us do an in-depth analysis.
However, such a major plunge has also made the market suspect that there are central banks operating behind the scenes. We do not rule out the possibility that European governments such as Italy and Greece will sell gold, said Wang Ruilei, chief analyst of Chengdu Bo Yin. The previous continuous rise of gold has seriously damaged the credibility of paper money and further harmed the government's credit. By selling part of the gold, it can not only withdraw funds, but also guarantee the currency status.
Buffett once said: Gold can only reflect its value until the end of the world. The risk of tCurrent precious metals markethe complete collapse of the Eurozone, the threat of US economic stagflation, the economic contraction caused by high inflation in emerging countries, everything is not difficult to reflect the coming of the global economic recession, the expected price of gold $3,000 and $5,000 is not far away Moreover, the Taurus rush may be just the beginning.