Many peopleLord Precious Metals in the industry believe that under the background of the deepening of the European debt crisis and the uncertain financial market prospects, the bull market of gold before the Spring Festival may be postponed. Buying on dips and holding gold to rise should be a better strategy. But from a long-term perspective, the European debt crisis provides support for gold prices. According to a report released by the World Gold Council on November 17, due to concerns about the worsening of the debt crisis in the United States and Europe, many central banks are racing to purchase more gold. A total of 148 tons were purchased in the third quarter, which was the highest purchase in a single season since 1988.
On that day, the price of silver futures for December delivery fell 8.9 cents to close at $34.577 per ounce, a decrease of 0.26%. The price of platinum futures for delivery in January 2013 rose 18.2 US dollars to close at 1669.3 US dollars per ounce, an increase of 1.1%.
The Dow Jones Index is sliding below 13,000. The US dollar index is hovering near US$0.80 in a weak symmetrical triangle pattern. The euro continues to remain in a downward trend and appears to be even weaker. All these factors should be bullish factors for gold.
We have entered an era of beggar-thy-neighbors, where paper currency will eventually become waste paper, Scott said. He believes that any asset that can be stored in value like gold can be used to avoid currency risks. In the long run, Scott believes that non-monetary assets such as gold, jewelry, and art will be better investment targets than financial assets.
However, there are still many institutions and investment predators who are optimistic about the outlook for gold. Hedge fund predator John Paulson has been aggressively longing gold since 2009. Until now, Paulson is still confident in gold. Paulson said that in the next three to five years, as the United States and the United Kingdom substantially increase their money supply, the price of gold may rise to as high as $4,000 per ounce. According to data, Paulson's funds hold $4.4 billion in SDPRETF.
We shouldLord Precious Metals not purchase too much gold directly from the international market. He Zhicheng said, my view is that when the price of gold in the international market is higher than US$900, we should resolutely not buy; when it is lower than US$750, we can increase our purchase; when it is higher than US$1,000, we should sell decisively.
Hedge funds bought gold sharply last week, mainly due to Fed Chairman Bernanke's hint to launch QE3 and the further escalation of the European sovereign debt crisis. A hedge fund manager analyzed that there was a big divergence in the gold price trend of hedge funds before. On the one hand, he believed that the price of gold was relatively reasonable at US$1,400-1500 per ounce; on the other hand, he insisted that the price of gold has a chance to break through the historical high of US$1,600. Since the price of gold has continued to rise every day, the latter has gained the upper hand. More and more hedge funds that were not optimistic about gold have begun to cover their long gold positions after gold broke through a new high of $1,560 per ounce last week.
Our online shopping prices are the same as those in physical stores. They are based on the benchmark gold price of the gold exchange on that day, and then the group will set prices uniformly. The customer service of Chow Sang Sang's official flagship store told reporters with peace of mind. However, Wang Long, the manager of the market operation department of Tianxinyang Gold, reminded that the price transparency of buying gold at the official flagship store is relatively high, while for ordinary Taobao personal gold stores, although the store guarantees that the documents and bills are complete, the goods are subject to special counter inspection. Goods, but there are still some hidden dangers. The price of gold on the website of this kind of personal gold shop is not the actual purchase price. The actual price needs to be known after consulting the shop. Although the price of gold is based on the exchange price and is relatively transparent, there is still room for businesses to operate. In addition, not all express delivery in such stores have insurance protection, which undoubtedly adds another 10% uncertainty to online gold shopping.