TEAMFinancialAssetManagement portfSpot precious metal pricesolio manager James Dailey said that the current factor pushing up gold prices is the US debt ceiling negotiations, but the fundamental fundamental factor is the increased risk of recession in 2012.
Yesterday, it was learned from the Bank of Beijing that the bank has officially launched the agency personal physical gold business recently. Customers can trade on the gold trading system jointly constructed by the Bank of Beijing and the Gold Exchange. Bank of Beijing is a city commercial bank that launched its personal physical gold agent business earlier.
The Fed announced on Wednesday that it would implement a reversal operation. Analysts said that this move will not temporarily expand the supply of U.S. dollars and push the U.S. dollar to soar, and because the operation is small, it will not cause inflation. In doubt, gold is still bullish eventually.
In addition, the price difference between the price of silver jewelry and the raw material silver is relatively large. For example, the current exchange price of silver is about 8 yuan/gram, while the price of silver jewelry is about 20 yuan/gram. Therefore, silver jewelry is not suitable as an investment. Suitable objects, gold jewelry can do this.
Affected by investor profit-taking operations and the strengthening of the U.S. dollar, gold futures prices on the New York Mercantile Exchange continued to fall on Friday. On that day, the August contract, the most actively traded in the market, fell by US$19.6 per ounce to close at US$1500.9, a cumulative decline of 3% in a week, setting a recent low. Yesterday, the reporter visited the gold jewelry sales counters in the city and found that the retail price of thousand pure gold jewelry fell by 5 yuan per gram, and the price of brand gold stores such as Chow Tai Fook fell below the 400 yuan mark for the first time in nearly two months. At the same time, some gold stores are still on sale. .
The author and Feng Liang agreed that the possibility of a substantial default on U.S. Treasury bonds is unlikely, and the two parties may eventually come up with a compromise plan. At present, the difference between the Democratic and RepubSpot precious metal priceslican parties is that the Democratic Party advocates a two-pronged approach to increase revenue and cut expenditure, while the Republican Party cannot accept tax increases; the Democratic Party hopes to no longer be troubled by the debt ceiling before next year’s election, and the Republican Party does not want to give up two steps easily. Going chips. Therefore, the possibility of substantial default on US Treasury bonds is unlikely, and the two parties may eventually reach a compromise plan.
Bernanke issued a testimony on Thursday that it may not be necessary to further loosen monetary policy. Given the structure of the current problem, further loosening of policy may not be effective. He pointed out that the current situation is different from the situation when the second round of quantitative easing was introduced, and the policy is still very loose.
On August 30, in the United States, the market focused the day on the minutes of the Federal Reserve's August interest rate meeting. The minutes show that most Fed officials believe that further implementation of monetary policy will have a significant effect on improving economic prospects, and they promised in the next two years. Maintain the current level of ultra-low interest rates and agree to consider additional policy options at the September meeting. However, three committee members worried that further stimulus measures may trigger inflation risks, which highlights the serious differences within the Fed on further easing. But most officials tend to consider more stimulus policies. Fed officials discussed a series of policy tools for action, including a new round of Treasury bond purchases, consolidation of forward-looking guidance, and extension of the average balance sheet period. Some committee members expect the unemployment rate will remain high and inflation will continue or fall below the level in line with the Fed’s target. Most Fed officials agree that the economic outlook has deteriorated to the point where a response is needed, and believe that further implementation of monetary policy will have a significant effect on improving the economic outlook. We believe that: the minutes of the meeting, Fed officials have to face several major problems in the U.S. economy, the deterioration of the job market, the slowdown of household spending, the decline in consumer and business confidence, and the continued weakness of the property market. At present, we are discussing how to deal with the economic downturn. The bad situation has become an urgent problem for the Fed, and the possibility of the Fed's stimulus measures is gradually increasing. In September, the interest rate meeting will discuss the sub-plan in depth. We believe that the Fed will not introduce the plan prematurely in September. The previously announced PCE core price index has risen again to indicate that inflation has increased again. For example, the Fed must first solve the problem of high inflation before issuing a new stimulus plan.