Spot price of precious metals

Spot price of precious metals

The 29-year-old Gao Ming is in the IT industry. He used the technology in his hand to make a program of his own to analyze the ten-year trend of silver prices. The analysis results show that the price of Bank of China in the past ten years is bullish. Through the analysis, it can be concluded that every time it rises to about 8%, it will be sold. Wait until it drops or rises by 1% before buying. After operating for 10 years, you can get The rate of return is higher than the ratSpot price of precious metalse of return obtained after buying it for 10 years.

In an interview with a reporter from the Securities Journal, WalterdeWet, head of the Commodity Trading Strategy Department of Standard Bank of South Africa, said that the precious metals market will still perform well in 2013 and the average price will be higher than in 2012, but the performance of industrial metals, especially base metals, will be difficult. Reached its high level in 2011 and 2012.

Data released by the US Department of Labor on Thursday (October 28) showed that the number of initial jobless claims in the US dropped by 21,000 to 434,000 last week, better than the expected 45.3. The data is a three-month low, which provides a hint of optimism for the US job market. The current market expects that the third quarter GDP of the United States will grow by 2.2%, compared with the previous value of 1.7%. Considering that other economic data released by the United States in recent days are generally better than expected, this is reminiscent of the upcoming third quarter GDP of the United States. Or it will be better than expected.

Silver prices rebounded sharply last week, with a cumulative increase of 7%. However, the previous price increase is generally a correction to the previous price collapse. On the whole, it seems that silver prices have not yet emerged from the haze, and the fundamentals have not seen any substantial improvement. Macroeconomic uncertainty, coupled with changes in the international financial and political landscape, have made it difficult to stop the volatility of silver prices, and there is little room for a sharp rebound in the short-term. However, as for the medium term, the author believes that silver prices have more room for upside.

In this regard, Erica Rannestad, a senior analyst for precious metals demand at GFMS, believes that because the price of silver had hit a multi-year low before, which stimulated the sales of US silver coins, in July this year, the US Mint had no currency for more than two weeks. .

On September 14, contrary to most people's expectations at the beginning of the year, the price of gold broke a record high of US$1265 per ounce, setting a new record of US$1282.9. Since the 2008 international financial crisis, gold has become the best investment product. It is the only investment product that has hit a record high for the thiSpot price of precious metalsrd time, an increase of 24.2% from US$1,032 in March 2008. In second place is silver, which has approached an all-time high.

From the perspective of the demand for gold jewelry, India was 294% in 2001 (India consumes 597.7 tons per year, 203.1 tons), but by 2010, the gap between the two countries has been greatly reduced to 145% (India 657.2 tons, 451.8 tons) . In less than 10 years, the difference between China and India has shrunk by half. In terms of quantity, the difference between the two countries is currently only 200 tons. The new wealthy class has just started to consume luxury goods and began to pay attention to gold investment and collection. It may not take another 10 years to catch up with India.

On the 18th, the World Gold Council (WGC) released a report on gold demand trends for the second quarter of 2011, stating that the demand for gold in the second quarter of India was eye-catching, and the two countries’ purchases accounted for more than half of the world. In the same period, the global central bank's net purchases of gold reached 69.4 tons, an increase of more than 4 times compared with the same period last year. WGC predicts that under the circumstances of strong demand in China and India, safe-haven demand caused by financial market turmoil and the central bank's net purchase, global gold demand will remain strong in the second half of the year, and prices will continue to rise.