Investors buy precious metals as a hedge

Investors buy precious metals as a hedge

At the close of the day, the price of light crude oil futures for August delivery on the New York Mercantile Exchange rose sharply by US$2.28 to close at US$92.89 per barrel, an increase of 2.52%. The price of North Sea Brent crude oil futures for August delivery in the London market rose 2.79 US dollars to Investors buy precious metals as a hedgeclose at 108.78 US dollars per barrel, an increase of 2.63%.

Since the outbreak of the US debt crisis in late July, international gold prices have risen from less than US$1,600 per ounce to US$1,754 per ounce on August 10, an increase of nearly 10%. During the same period, the Dow Jones Industrial Index fell 11.67%. If it were not for the strong rebound of the Dow on August 9, it would have fallen by as much as 15%. The price of crude oil, previously considered indestructible, also plummeted by nearly 30%. In the dark night when the US debt crisis struck, only gold could shine.

The U.S. Senate reached an agreement that gold rebounded above 1280. Spot gold has rebounded from the intraday low of $1,268.86 per ounce at the beginning of the New York session on Wednesday (October 16). The US housing data has performed poorly. At the same time, although the two parties in the US Senate will reach an agreement on raising the debt ceiling and reopening the government, the Senate and the House of Representatives will successively vote on this agreement. The result is still full of uncertainty. However, some analysts pointed out that some investors may take advantage of this rebound to profit.

Commerzbank (Commerzbank) pointed out that from the technical picture, gold may be further sold, and may fall below the 1500 level in the short term. Such a strong selling may come from the futures market. CFTC data shows that speculators are beginning to cut their net long positions in gold. However, mid- and long-term investors are still holding on tight, and gold ETFs have not shown signs of outflow, and bargain hunting may soon enter the market to buy bottom.

From a technical analysis, Yuzhan Gold believes that the price of gold has closed at Yangxian for 4 consecutive weeks from the weekly line, but there may be a short-term correction in early August for technical correction, and the correction will not be too large. In the short term, the gap in the price of gold on Monday may be covered in the past two trading days, and the price of gold may continue to strengthen. (Source: Economic Information Daily)

Incomplete statistics. As of November 28, there were 35 cultural and art property rights exchanges (including trading platforms) in various parts of the Mainland that had publicly released their establishment information, and at least 6 were clearly under preparation. According to industry statistics, in just over a year, the market has issued a total of 1.78145 billion yuan in products, which can be described as explosive growth. Not only worksInvestors buy precious metals as a hedge of art are shared, but agricultural products, mineral resources, electricity, coal and other resources, and even red wine are also shared by exchanges and enter the market. The Wine Exchange is on this clean-up list, and the electronic trading market for many types of commodities is also included. All kinds of trading markets are too chaotic, lack of supervision, and great chaos will lead to great governance. Said Zhu Zhigang, vice chairman of the Guangdong Gold Association.

With the continuous diving of international gold prices, many Hong Kong brands of thousands of pure gold jewelry also experienced the largest price cuts this year. From 454 yuan/gram last Monday, the price was continuously reduced by about 4 yuan/gram each time, until yesterday’s 427 yuan/gram, a drop of 27 yuan in 6 days, a drop of nearly 6%, has returned to the early August price. .

The latest data in the report shows that the total global gold investment demand in the second quarter was 297 tons, a 34% decrease from 450 tons in the second quarter of 2016. The investment in gold bars and coins reached 241 tons in the second quarter, while the gold exchange-traded fund (ETF) ) The inflow is 56 tons. In addition, the total global demand for gold jewellery in this quarter was 481 tons, higher than the 447 tons in the same period last year, an increase of 8%; the demand for gold from central banks was 94 tons, an increase of 20%; Compared with 80 tons in the same period last year, an increase of 2%.