There is no basis for being short-term bullish on gold. Yang Yijun believes that the sharp drop from last year to the recent period was not a threshold for the conversion of bulls and bears, but because the speculative increase in the third quarter of last year was very large. The first and second quarters of this yAlabama Precious Metals Corporationear will There will be an adjustment and digestion process, and the market outlook is below $1,600 per ounce to look for buying opportunities. Although the Fed’s QE3 is now expected to cool down, but QE2 will expire in June. There is a hole in US debt of up to 3.6 trillion US dollars. It is estimated that another method will be used to release the water.
Second, the global policy strength and degree of coordination are very strong. The coordination here mainly refers to the coordination and cooperation between central bank policies and fiscal policies in various countries, which is rare in the past decade. This policy stimulus is not only strong, but also a two-pronged approach. In the past ten years, it has always relied on the characteristics of loud currency but small fiscal rains.
When trading resumes on June 7, if the above contract does not have a price limit, the Au (T+D) contract will resume the 10% margin ratio and the Ag (T+D) contract will resume 15% before the day-end liquidation. From the next day onwards, the price limit ratio will be adjusted to 7% and 10%.
In late trading in New York City on Monday, spot gold prices rebounded sharply for two consecutive days after recording the largest quarterly decline on record. At present, the price of gold has risen by more than 1%, and it once hit a three-day high of $1261.76 per ounce during the session. Although the overall performance of the US data was better before, the gold price reaction was flat. The price of gold rose within the day due to the requirement for a technical rebound due to oversold in the previous period. In addition, the previous positive data in Europe put pressure on the US dollar and also supported the price of gold.
5. According to a survey released by the German economic think tank IFO on Friday, the German Ifo business climate index in June was 114.5, expected 113.5, and 114.2 in May; business status index was 123.3, expected 121.0, and 121.5 in May; business expectations index was 106.3, expected 106.4.
However, there are still many bullish views that the expectation of monetary easing is still there, and it is too early to conclude that the bull market in gold ends. IMF President Lagarde’s support for monetary easing, Federal Reserve Chairman Bernanke’s affirmation of QAlabama Precious Metals CorporationE and his remarks about not withdrawing have all made Sang Duo Pai more confidence to stick to his camp.
But for now, the impact of the European debt crisis on the market should be above the impact of quantitative easing. Because the European debt crisis is currently in progress, and although the pace of quantitative easing is expected to accelerate, it is still in the future stage, so the current risk market is generally in a decline. As time goes by, when the climax of the European crisis is over, and quantitative easing enters the ongoing stage, the risk market will gradually come out of the decline. We believe that this process should happen within a few months, that is, when quantitative easing enters into progress, the decline of the risk market will gradually improve.