gold price trend

2011年7月14日 星期四

Ireland was downgraded to make the gold price remain high

Irish banks were downgraded by the debt crisis continues to cause concern and the Fed to stimulate the expression of support, spot gold prices to remain at historical highs.

Domestic AU (T + D) Thursday (July 14) opened at 327.99 yuan / gram, up to 330.1 yuan / gram, a minimum of 327.1 yuan / gram, to close at 329 yuan / gram, up 3.42 yuan from Wednesday City / grams, or 1.05%; its time of AG (T + D) opened at $ 8,000 / kg, up to 8,363 yuan / kg, a minimum of 7,970 yuan / kg, to close at 8,304 yuan / kg, up 534 yuan from Wednesday City / kg, or 6.87%.


International Association of Silver (Silver Institute) said that silver in the application of health products is growing rapidly. In the field of medicine, silver has been used in wound care products, to prevent injury to the skin surface of the infected. In the health sector, silver used in air fresheners, hair dryer, sportswear, pajamas, doorknobs and many other products to control bacteria growth. International Association of silver is expected to 2015, silver in health and medicine, the application will reach 600 million ounces in 2010 to 100 million ounces.

Wednesday Moody's cut Bank of Ireland's five government-guaranteed bond rating.

One from Singapore, traders said, the lack of reliable destination, a large number of bond funds withdrawal, enter the precious metals market. Because the fund managers believe that policy makers will be forced to take measures to avoid the debt crisis worsened.

In addition, the U.S. debt ceiling around the uncertainty of the negotiations, and suggests the Fed chairman's remarks to introduce more stimulating measures weighed on the dollar, a significant support to the commodity markets.

Royal Bank of Canada Capital Markets Global Futures Department (RBC Capital Markets Global Futures) analyst said George Gero, Bernanke's remarks to stimulate action based on fundamental and technical traders both buy gold. The technical buying gold price gains accelerated. Due to weak economic recovery if the Fed launched QE3, then the material will push down the dollar and push up inflation, which is undoubtedly beneficial for gold. In addition, the deterioration of European sovereign debt crisis is also likely to drive policy makers to consider further stimulation may increase gold's safe-haven appeal.

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