The latest developments in Tom Yun precious metals market

The latest developments in Tom Yun precious metals market

The World Gold Council recently released the "Gold Demand Trend Report for the Third Quarter of 2011". The report shows that the global demand for gold in the third quarter hit a record high in history. In particular, the role of central banks in various countries has changed from the main supply side of gold to the main demand side of gold. Many institutThe latest developments in Tom Yun precious metals marketions predict that the central banks of various countries are bullish on the price of gold, and the price of gold will still rise but never fall in the future.

Now whoever has good craftsmanship and low loss can make money. Some good companies can even control the loss at about 0.3%, which highlights their competitiveness. An industry insider said. The reporter learned that gold dissolves in the process of processing, and there is a large amount of loss in grinding and turning, but some companies with good craftsmanship can reduce the loss to a minimum.

In terms of holdings, the world's largest gold exchange-traded fund (ETF) SPDRGoldTrust's gold holdings as of May 10 increased by 2.12 tons to 1,277.11 tons. The world's largest silver ETFiSharesSilverTrust's silver holdings as of May 10 remained at 9,465.08 tons.

In addition, the world's largest silver exchange-traded fund (ETF), iSharesSilverTrust, said that its holdings increased to a record high of 11,192.80 tons as of April 7 and 11,162.45 tons as of April 4.

The traditional gold sellers-Germany and France, did not sell gold reserves in the first half of this year, and only sold 11.7 tons of gold reserves in the second half of 2009. At the same time, the world's largest official gold reserve country, the United States, has basically not sold gold for 10 years, and currently has 8133.5 tons of gold, accounting for 72.8% of its official reserves.

FThe latest developments in Tom Yun precious metals marketrom July 25 to July 29, the price of AU9995 gold opened at 334.80 yuan, the intraday highs and lows were 336.26 yuan and 333.30 yuan respectively; it closed at 333.56 yuan, an increase of 3.72 yuan from the previous week’s closing price, an increase of 1.13%.

Last week, boosted by risk aversion and short-covering power in the market caused by the central bank’s notice on further promoting the reform of interest rate marketization, spot gold closed the positive line for the third consecutive week, and broke through the key resistance above and stabilized. Above $1,300. As of the close of the market on July 26, it rose $37.3 to 1,33.20, or 2.88%. In the last week of July, multiple heavyweight data will be released. On Monday evening, the United States will announce the monthly rate of the contracted sales index of existing homes in June and the contracted sales index of existing homes in June. On Tuesday, a series of Eurozone data will have a greater impact on the market. In the evening, the American Consultative Chamber of Commerce Consumer Confidence Index will show the confidence of American citizens in the economic recovery in July. On Wednesday afternoon Beijing time, the heavyweight data of the Eurozone CPI and multiple core countries will provide some guidance on whether Europe will adopt a looser monetary policy in the near future. In the evening, the number of ADP employment in the United States was the vanguard of non-agricultural employment in July. No matter the data is good or bad, the market will almost inevitably produce drastic fluctuations. The US GDP data released on the same day will focus on the quality and stability of the US economic recovery. Throughout Thursday, all major economies in the world will release the PMI index. The first is that the statistics department of the world's second largest economy will release the manufacturing PMI index for July. Previous data showed that the current economy is below the line of prosperity and decline and is shrinking. The official sector data this time will surely arouse speculation from all parties on the economic direction and the intensity of the central government's reform. Subsequently, PMI data in the Eurozone and the United States will also attract attention. On Friday evening, the US Department of Labor will release July unemployment and non-agricultural data. In recent months, the market has been fluctuating based on this data. As a key indicator that affects the strength of the Fed's monetary policy, the continuous improvement of the data has greatly boosted the US dollar, while severely suppressing gold and non-US currencies. After many consecutive months of better-than-expected data, whether the non-agricultural and unemployment rates in July will continue the previous situation is still unknown, but regardless of the pros and cons of the data, it will guide the market direction in the next period of time. Market participants have more room to imagine the Fed's attitude and direction on quantitative easing in the future. With the release of heavy data, next week will also usher in a number of central bank monetary policy meetings. From July 30 to 31, the Federal Open Market Committee of the Federal Reserve will hold a two-day interest rate meeting in Washington, and announce the interest rate resolution at 2 a.m. Beijing time on August 1. From July 31st to August 1st, the Bank of England will hold a Monetary Policy Committee meeting in London, and then announce its interest rate resolution at 19:00 on August 1st, Beijing time. On the same day, the European Central Bank Management Committee will announce the interest rate decision in Frankfurt; and will hold a press conference at 20:30 Beijing time. Technically, gold currently fluctuates between 1315-1342. The lower support is located near the 40-day line on the daily chart, and the upper pressure is located near the 60-day line on the daily chart. In the 4-hour chart, gold is currently operating within the triangle interval. The lower support is located at the top and bottom of $1310, which has been tested many times last week, while the upper resistance is gradually moving down. It is currently at the 1336-1337 line, showing that the market has momentum for long By weakened. This week, a lot of data has the ability to make gold prices out of this range. If it breaks the resistance of 1340 upwards, gold will move near the upper edge of the ascending channel formed after the rebound, and the target is located near 1360. If the data effectively boosts the US dollar and causes gold to fall below the 1310 first-line support, the lower support will be around 1290.

March 6, Asian Market, Singapore. On Wednesday, the price of gold fluctuated around $1575. Recently, influenced by the improvement of investor confidence in the economic outlook caused by the good performance of the US stock market, gold has fluctuated up and down within a narrow range and has shown weakness. Boosted by the rise in the US ISM non-manufacturing index, the Dow Jones Industrial Average hit a new high in the last trading session. At 0:37 GMT, the spot gold price rose 0.1% to US$1577.05. In recent days, the fluctuation range of gold is US$1564-1587. The Central Bank of Korea said yesterday that the bank bought 200 tons of gold in February. The total amount of gold held after the purchase is 104.4 tons, which is the fifth gold purchase activity of the bank in the past two years. According to statistics, in recent months, more and more large banks have begun to close their gold positions and have successively lowered the expected value of gold prices. At present, the voice that the global economy will gradually grow has completely suppressed investors' interest in safe-haven assets. SPDR, the world's largest gold ETF fund, cut its positions for 11 consecutive trading days. On March 5, all positions in the fund were at a 16-month low of 1,244.85 tons. So far this year, the fund has outflowed 105.965 tons of gold, and last year it was 96.25 tons. Before the European Central Bank policy meeting, investors were generally cautious. The euro rose slightly on Wednesday and fluctuated within a range. Today, the United States will release data on ADP employment in February and orders in the United States in January. If the data weakens or is significantly lower than expected, it will boost gold prices. At the same time, if the data is higher than expected, it is expected to help the dollar to rise, thereby suppressing gold.