On July 26, the data released by the Gold Association showed that in the first half of this year, the cumulative trading volume of all gold varieties on the gold exchange was 25,200 tons, a year-on-year increase of 55.49%; the cumulative trading volume of gold fuInternational Precious Metals Rabentures contracts on the futures exchanges was 41,200 tons, a year-on-year increase. An increase of 89.50%.
However, although market sentiment continues to be bullish on the rise of gold, many investors believe that the price of gold seems to have reached its peak and are doubtful about whether it still has investment value in the future. In this regard, gold investment experts said: In fact, as early as the beginning of last year, when the price of gold was $1,000, many investors felt that it had already capped. Now that it has risen above $1,600, I think the top should be far from appearing. Because the positive push factors for the formation of gold still exist, including the depreciation of the US dollar, potential inflationary pressures, and the background of debts from both sides of the Atlantic, U.S. debt and European debt, gold hedging and reserve currency dispersion, etc. These factors constitute a positive incentive for the future trend of gold prices.
5. The monthly report released by the US Department of Commerce (Commerce Department) on Thursday showed that the monthly rate of US commercial inventories in March rose by 1.0% to $1.477 trillion, which is expected to rise by 0.8%. U.S. commercial sales increased 2.2% in March to $1.200 trillion; the largest increase since March 2010 increased by 2.4%.
Judging from the weak rebound trend, the current trend of the gold price is still held by the bears, and the occasional bounce of the bulls cannot reverse the fate of the decline. However, from the perspective of the decline process last Friday, despite the further expansion of the decline, the resistance of the bulls is more obvious, and signs of a short-term bottom are shown on the four-hour chart. It is expected that this week may usher in a real rebound trend.
The prices of commodities such as gold and silver have fallen one after another, and the timing coincides with the end of the second round of the Fed's monetary policy, which has attracted market attention. Manager Huang of China Minsheng Bank said that last week the Fed's interest rate meeting mentioned that after the end of the second round of monetary easing, the federal funds rate will remain at a long-term low interest rate level, and the second round of quantitative policies will also end as scheduled. But Fed Chairman Bernanke did not mention whether the third round of quantitative policies will continue. There are some views that the Fed will continue to implement or implement a new round of easing policies. This makes the market wait-and-see sentiment strong during the policy vacuum period, and some early profits choose to settle down. In addition, after July 15, the United States will ban over-the-counter (OTC) transactions in precious metals. Manager Huang of Minsheng Bank said that the recent decline in gold prices is a short-term behavior, and the general trend and environment have not changed. In the medium and long term, gold prices will continue to rise. In the short term, there may be strong support at $1,480 per ounce. In the event of a sharp correction, it is a good strategic time to build a long position.
However, the biggest investment opportunity now is neither silInternational Precious Metals Rabenver nor gold, but platinum. Zhu Zhigang said that in history, the price of platinum and gold has basically maintained at 1 gram of platinum equal to 2 grams of gold, and the current price difference between the two has sharply narrowed to less than 30%, according to the rule of platinum, gold, silver and palladium and other precious metals. , The possibility of the next round of platinum rising is very high.
The price of silver has fallen sharply. International silver prices have fallen from more than $47. In just five days, the price of silver has fallen by nearly 30%. The price of spot silver bars also fell from 10.2 yuan to 7.4 yuan. At present, the price of silver has returned to about 39 US dollars, and the price of domestic investment silver bars has also returned to 8.35 yuan. The trend and increase and decrease are similar to the international silver prices.