Dallas' large gold dealer Dillon Gage also saw a slight decline in gold sales this month. However, according to data released by the company, dThe best and safest international precious metal delivery methoduring the week of the US election, the company's gold sales soared by 50% year-on-year, and fell by nearly 20% in the following week.
Due to the value preservation function of gold, investors will still choose to hold for a long time, but their attitude towards silver is just the opposite. In September, many investors repurchased silver bullion. Mr. Zhou said that the international gold price in September had fallen below US$1,600 per ounce. Investors’ bargain-hunting mentality considered it a time to buy and they were confident in the gold market outlook.
This month, many local Fed officials have expressed support for the reduction of quantitative easing (QE). Summers is also getting better in the race against Yellen. The storm of QE withdrawal seems to be just around the corner. In August, the U.S. stock market fell by more than 3%, and the exchange rates of many countries in the Asia-Pacific emerging markets plunged. In contrast, spot gold rose instead of falling. The negative data market always ushered in a counterattack from many parties. This is in the latest Federal Reserve meeting. Later, it was even more vivid.
From the perspective of the valuation level of the non-ferrous metals industry relative to all A-shares, the current PB of the non-ferrous metals industry is 36% higher than the A-share market, which is higher than the average level of 1.12 times in the past 12 years. Although the non-ferrous metal industry is a high-beta industry, the average level is less restrictive, but the current relative valuation level is also close to the second peak set in the last bull market, and the upside is tested. Therefore, combining Orient Securities' judgment on supply and demand fundamentals and profitability forecasts, it is believed that the current industry valuation level has excessively reflected the industry recovery, and further evidence of consumption recovery is needed to support the current stock price.
In addition, the French Societe Generale (Societe Generale) on Wednesday (June 12) lowered its gold price forecast for the fourth quarter of 2013. The bank lowered its gold price forecast for the fourth quarter by US$175 to US$1,200 per ounce. The reason given was that gold exchange-traded funds (ETFs) continued to flow out due to rising bond yields and a strong US dollar. The bank predicts that the average price of gold for the whole year of 2013 will be US$1,400 per ounce.
Compared with the international gold price, it was reported at around US$1,400/oz in mid-December last year, and has since soared. After setting a new high of US$191.46/oz on August 23, it fell all the way to aroundThe best and safest international precious metal delivery method US$1,650/oz yesterday. In this big bull market, the price of gold has risen by less than 20% over the past 10 months, which is much lower than the 40% rise of panda gold coins. Under this circumstance, many gold investors began to pay attention to the gold and silver coin market. Taking advantage of the sharp drop in the price of gold some time ago, the gold and silver coins of many institutions were swept away, and the most popular is the panda gold and silver coins.