Gold is a currency or a tradition

Gold is a currency or a tradition? Federal Reserve Chairman Ben Bernanke's answer is a long tradition. But in any event, the boom, the gold and silver prices that people are the properties of gold as an investment tool to re-evaluate, buy and hold to beat inflation expectations.

In the 13th U.S. Congress hearing, Fed Chairman Ben Bernanke and Congressman Paul on gold for some interesting dialogue. Paul asked: "Do you think gold is money?" Bernanke paused and then replied, "No, it is precious." Paul asked again: "It is not money? Even if it has 6,000 years of monetary history. Some people To reverse, you eliminate the laws of economics? "Bernanke replied:" Gold is an asset like U.S. Treasury bonds as. debt is money? not, but the bonds of financial assets. "



No matter how Bernanke look gold, but the gold market to Bernanke's third round of the quantitative easing policy (QE3) suggests that excited. After eight consecutive day of gains in gold futures on Thursday once again refresh record high. 14 Asian trading hours in New York gold futures contract in August rose to an intraday $ 1,594.90 an ounce, or 0.42%, again to refresh the record high. K line chart, with Yang about the formation of 9. Most-active September silver futures contract was ascribed to $ 39.39, or 2.9%.

Continued to rise yesterday, the cause is Bernanke on the economy and in the United States House of Representatives released semi-annual monetary policy testimony. He said that if the U.S. economy continues to grow weak, the Fed may adopt a new monetary stimulus. Last November, the Federal Reserve launched a total of $ 600 billion acquisition of treasury bonds in the second round of quantitative easing (QE2), the end of June this year, this policy has expired. Bernanke said that if economic growth continued weakness, the Fed will continue to back the original $ 600 billion for the acquisition of treasury bonds.


Wednesday (July 13) International spot gold opened 1567.04 yuan / ounce, up to 1587.89 yuan / ounce, minimum $ 1,564.29 / ounce, closing $ 1,580.94 / oz. Shanghai Gold Exchange in investment AU (T + D) 07 月 14 in early trading opened at 327.99 yuan / gram. Shanghai Gold Exchange in investment AU (T + D) 07 月 13 closing settlement weighted average price of 325.58 yuan / gram. 14 July, the People's Bank announced the median price of RMB against the U.S. dollar: 6.4640 yuan.

Index funds (ETF) ─ ─ the world's largest gold index fund (ETF) ─ ─ SPDR gold ETF of its July 14 positions to maintain 1225.41 tons.

United States: Federal Reserve Chairman Ben Bernanke hinted the U.S. Senate published testimony will further relax monetary policy, coupled with investors in Europe intensified concerns about debt, the price of gold rose sharply on Wednesday, COMEX8 month gold closed up $ 23.2 to $ 1,585.5 / oz. Bernanke said the Fed will continue for a long period of time to keep interest rates at very low levels, while the U.S. economy if the economic situation continues to deteriorate colleagues inflation slowed, the Fed is likely to further relax the current monetary policy. By their speech, the dollar index dropped sharply. The EU will again hold an emergency meeting Friday, after the first euro-zone finance ministers acknowledged that Greece will experience some form of debt or breach of contract, and thus help the country reduce debt, and to prevent the crisis spreading to Italy and Spain