Precious Metals and Diamond Company

Precious Metals and Diamond Company

In the short term, it is very important whether the price of gold can hold the 1640-1660 support area. After the silver price entered 201Precious Metals and Diamond Company3, the volatility also magnified again. If silver falls below the $30/ounce line, it may further drop to $28/ounce for support in the short term. As the lunar new year approaches, the price of gold jewelry may be lowered. It is recommended that citizens who start to buy gold jewelry can make a timely purchase after the recent market price drop.

Unlike GFMS, other institutions are still relatively conservative in forecasting gold prices. Among them, Goldman Sachs believes that gold will stay at US$1,681 per ounce at the end of the year, Credit Suisse believes that the price of gold will reach US$1,755 at the end of the year, and Deutsche Bank believes that it will rise to US$1,825. In contrast, Morgan Stanley is the most optimistic, the bank believes that the price of gold will rise to 1845 US dollars by the end of the year.

The Dow rose 47 points to 12,116 points; the Nasdaq Composite Index rose 25 points to 2,763 points. British, French, and German stocks rose 0.77% to 1.47% in the end. In terms of data, the fourth quarter GDP growth of the United States was revised down from the original 3.2% to 2.8%, which was far lower than the expected 3.3%. This was mainly because local governments slashed their spending to meet the fiscal deficit; while the growth of personal spending in the previous quarter also changed from The original 4.4% was revised down to 4.1%, which was lower than expected; the increase in the core price index of personal expenses, which reflects inflation, was revised from 0.4% to 0.5%, slightly higher than expected.

Paulson reduced its stake in the world's largest gold ETFSPDRGold Trust from 31.5 million shares to 20.3 million shares. After the news, the price of gold has basically stabilized. Market observers pointed out that Paulson's move does not indicate that his bullish view of gold has changed.

Since the fall in mid-April, the number of people buying accumulation funds has suddenly increased. A few days ago, the price of gold fell to 282 yuan. A customer bought 10 kilograms at once. Zhu Haixia said that at the same time, the number of accumulation funds has also increased by 20,000. There are more than 80,000 accounts opened up to now.

BMOCapitalMarkets analysts said that gold is usually Precious Metals and Diamond Companyused as a currency substitute, and this fact will continue to boost the price of gold. Investors continue to buy precious metals to avoid the unstable prospects of European currencies, as well as the risks of Eurozone debt and US inflation. .

Frank McGhee, chief precious metals trader at Integrated Brokerage Services LLC, pointed out that non-agricultural data has dispelled the market's expectations of the Federal Reserve's further quantitative easing. As the yields of treasury bonds and short-term interest rates rise, gold may continue to fall in the next few trading days.