gold price trend

2011年7月16日 星期六

Gold futures at $ 15 break 1,590 mark, to create an unprecedented record

Gold Gold Investment Journal Communications (Gold Newsletter) Editor Lundin said: "All the potential factors are favorable gold prices, regardless of risk or no risk in environmental risk, which are entitled to benefits."Olympus Futures, a senior market strategist at Na Duosi warned that the current high price of gold may impede gains in futures prices may fall after the first rise.

He said: "Now the market is difficult to attract investors to chase high, but because the upside momentum is very strong, no one will be gold bearish."

United States announced July 15, University of Michigan consumer confidence index plunged to 71.5 the previous month's 63.8, reflecting deterioration in consumer confidence, gold futures then go up again. Although released later than expected European bank stress tests, 91 banks, only eight did not pass, but still could not suppress the price of gold rally.

Technical analysts said the gains from the price of gold in the past and Fibonacci series (Fibonacci) projections, the next few months the price of gold may exceed $ 1,700 per ounce. Capital Economics is based on the price of gold and the Dow Jones industrial average ratio of predicted crisis in the future if the Great Depression, $ 5,000 onto the price of gold could breath.

However, the largest gold exchange-traded fund SPDR Gold Trust, holders of gold behind gold rally is part of growth. Gold for the ninth consecutive day of gains in the period, the Fund's gold holdings increased by only less than 20 parts of tons to 1,225.4 tons, an increase of more than 1.5% of small, far better than last June, a record of 1,320.4 tons.

HSBC Bank (HSBC), chief commodities analyst Shi Tier pointed out that gold ETF holdings of gold has slowed, usually means the fund is gradually mature into commodities. SPDR Gold Trust was launched in 2004.




The world's largest gold ETF positions also showed confidence in the market for gold


Euro zone's third largest economy in the Italian debt risk soared, making the concern of the European debt crises fermentation. Meanwhile, Fed Chairman Ben Bernanke said that if the 13 deteriorating economic situation and the pressure of deflation reproduction, will be ready to further relax monetary policy, the message stirred anxiety throughout the commodity markets, rising investor risk aversion, have chosen to buy gold as a hedging tool, supporting gold's rally continued last week, breaking the previous high point.

Investors interpreted Bernanke 13, then the Fed may launch QE3, but Bernanke have made clear 14 that the Fed is not yet prepared to take further action, the international price of gold fell in intraday trading. However, the debt crisis spreading in Europe, and investors concerns about the U.S. debt, continues to support gold prices, although limited gains this week after two days, but the international price of gold is still out of the rare "ten with Yang", continuously refresh a record high. Currently, the international spot price of gold has been above $ 1,590 an ounce on the station.

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