2011年7月4日 星期一
Gold Price Overview
Foreign Gold Market Overview: New York Mercantile Exchange (COMEX) gold futures on Friday (July 1) closing a moderate decline in the debt situation in Greece toward the right direction to make gold hedging demand experience aside, while oil prices are a drag on the price of gold. Comex-8 December gold futures closed down $ 20.2, down 1.36 percent, to 1,482.6 U.S. dollars / ounce. The trading range for gold trading day at $ 1,500.3-1,514.8. Comex gold hit on May 2 at $ 1,577.4 / oz record high. Gold futures closed up 4.24% the second quarter. Spot gold hit a high of $ 1,502.40 / ounce, the lowest dropping to 1,478.00 dollars / ounce, closing at 1,486.30 U.S. dollars / ounce, on the trading day to close at 1,500.51 U.S. dollars / ounce, down $ 14.21 / ounce, down 0.95 %.
News Summary:
U.S. Treasury: urging Congress to increase the size of government debt ceiling
U.S. Treasury (USTreasury) Friday (July 1) reiterated that road, if Congress can not be before August 2, the government raised the debt ceiling to reach agreement, the U.S. government will not be able to continue borrowing.
Geithner (TimothyGeithner) has warned that if Congress fails to act, will undergo a major risk. U.S. government bonds may lead to breach of contract, then the already fragile banking system into fear.
U.S. Treasury for financial markets, said Deputy Minister MaryMiller Geithner urged Congress to increase the size of government debt ceiling to avoid debt default and the economy and the market have disastrous consequences.
Hong Kong gold market plan in August to push the yuan trading gold bullion products
Hong Kong Gold & Silver Exchange plans to launch in early August this year, RMB transactions in gold bullion products, gold bars of the same size and the Shanghai Gold Exchange. Gold and Silver Exchange, chairman of Haywood Cheung said recently that gold bullion uniform specifications and Shanghai, to pave the way for future cross-border transactions.
According to reports, the preparation of RMB kg of products have been a long time, have been completed and members of trade between the computer field line system testing, and enter the system with the bank teller test phase, the new product is expected to launch in early August. At present Gold and Silver Exchange daily trading volume of approximately 40 to 50 billion Hong Kong dollars, Haywood Cheung estimated after the launch of RMB kg of the year, trade field can be increased to a daily turnover of HK $ 80 billion.
To facilitate trading, the yuan kg of making the system will be located, is expected to launch, at least three financial institutions as the dealer. Haywood Cheung said, now is not too worried about the yuan kg of the transaction, but worried that deal too, if there is big hand in Hong Kong sell gold, the yuan at any time insufficient, so the initial product launch, will provide positions to a maximum of tons of gold, market value of about 300 million yuan.
For the benefit of holding the yuan kg, Haywood Cheung pointed out that investors can also get gold and appreciation of the yuan opportunities. Statistics show that one kilogram of gold is worth about 30 million yuan, position a deposit of 8,000 yuan, about 30 times leveraged. As the bullion price and for contracts in RMB clearing, for investors to participate in the RMB kg of transactions such as leveraged transactions to disguise the yuan, not only to earn the price of gold increases, but also make the exchange rate increases?
Haywood Cheung believes that both Hong Kong and Shanghai gold market will gradually open up, this will help the internationalization of RMB. He said that in order to open up both the gold market, trade market with the Shanghai Gold Exchange, consultation, mutual recognition of qualifications both lines.
Risk appetite continued to improve safe-haven appeal of gold dropped
Market risk appetite continued to improve, safe-haven asset given the cold shoulder, Friday (1) Spot gold fell again moderate.
Spot gold hit a high of $ 1,502.40 / ounce, the lowest dropping to 1,478.00 dollars / ounce, closing at 1,486.30 U.S. dollars / ounce, on the trading day to close at 1,500.51 U.S. dollars / ounce, down $ 14.21 / ounce, down 0.95 %.
COMEX8 gold futures for February delivery fell $ 20.20, to close at $ 1,482.60 an ounce, down 1.3 percent, the highest since May 17, the lowest closing price since this week in New York gold futures fell 1.2%.
The world's largest gold exchange-traded fund (ETF) - SPDRGoldTrust said its ending June 30, gold holdings remained at the same level of 1,208.23 tons.
Institute for Supply Management (ISM) data released on Friday showed the U.S. June ISM manufacturing purchasing managers index (PMI) rose to 53.5 from 55.3 in May, the expected 51.9.
Data provider Markit, a major survey released Friday showed the euro zone manufacturing sector in June Markit purchasing managers' index (PMI) fell to 52.0, down from 54.6 in May, and is the lowest since December 2009.
Well-known market research agency Markit data released on Friday showed Germany's manufacturing sector in June purchasing managers' index (PMI) the final value of 54.6, lower than the initial value of 54.9 and 57.7 in May. The market had expected 54.9.
U.S. Department of Commerce (CommerceDepartment) data released on Friday showed a seasonally adjusted U.S. May construction spending fell 0.6 percent monthly rate, annual rate of 7,534.8 billion U.S. dollars, is expected to be flat.
Credit Agricole (CreditAgricole) analyst RobinBhar said: "If there liquidated damages or Greek debt situation like this is hard to imagine there are other factors that can make the gold to another record high."
He also said: "The other one can make gold and then refresh the high factor is the Federal Reserve to introduce more quantitative easing measures, but this is unlikely to occur in the present. The United States refers to the rebound may occur, which is detrimental to gold."
Action proposed:
The second round of the quantitative easing Federal Reserve monetary policy (QE2) end as scheduled last week, the biggest buyer of the bond market with the Fed's exit, 10-year Treasury prices fell, debt interest rate rose 33 basis points to 3.2%. It also shows that nowhere in the market that QE3 hard to find. Meanwhile, U.S. economic data began to emerge from our preliminary analysis, such as Japan, earthquake, weather and other short-term factors, the gradual recovery trend of thriving. We still stick to our point of view: "The recovery is still weak recovery in the U.S. economy and the dollar should not be too bearish." Week online to see the dollar may have bottomed in Europe and the outbreak of a new debt crisis is not the case, the dollar's upward pressure on gold is still there. July 4 U.S. Independence Day closed, the price of gold will drop the day before yesterday, after maintaining a slight rally, but the overall decline does not change, continue to hold an empty one. Friday, investors may miss the opportunity backed by CSA 1495 CSA. The first target bit 1470.
News Summary:
U.S. Treasury: urging Congress to increase the size of government debt ceiling
U.S. Treasury (USTreasury) Friday (July 1) reiterated that road, if Congress can not be before August 2, the government raised the debt ceiling to reach agreement, the U.S. government will not be able to continue borrowing.
Geithner (TimothyGeithner) has warned that if Congress fails to act, will undergo a major risk. U.S. government bonds may lead to breach of contract, then the already fragile banking system into fear.
U.S. Treasury for financial markets, said Deputy Minister MaryMiller Geithner urged Congress to increase the size of government debt ceiling to avoid debt default and the economy and the market have disastrous consequences.
Hong Kong gold market plan in August to push the yuan trading gold bullion products
Hong Kong Gold & Silver Exchange plans to launch in early August this year, RMB transactions in gold bullion products, gold bars of the same size and the Shanghai Gold Exchange. Gold and Silver Exchange, chairman of Haywood Cheung said recently that gold bullion uniform specifications and Shanghai, to pave the way for future cross-border transactions.
According to reports, the preparation of RMB kg of products have been a long time, have been completed and members of trade between the computer field line system testing, and enter the system with the bank teller test phase, the new product is expected to launch in early August. At present Gold and Silver Exchange daily trading volume of approximately 40 to 50 billion Hong Kong dollars, Haywood Cheung estimated after the launch of RMB kg of the year, trade field can be increased to a daily turnover of HK $ 80 billion.
To facilitate trading, the yuan kg of making the system will be located, is expected to launch, at least three financial institutions as the dealer. Haywood Cheung said, now is not too worried about the yuan kg of the transaction, but worried that deal too, if there is big hand in Hong Kong sell gold, the yuan at any time insufficient, so the initial product launch, will provide positions to a maximum of tons of gold, market value of about 300 million yuan.
For the benefit of holding the yuan kg, Haywood Cheung pointed out that investors can also get gold and appreciation of the yuan opportunities. Statistics show that one kilogram of gold is worth about 30 million yuan, position a deposit of 8,000 yuan, about 30 times leveraged. As the bullion price and for contracts in RMB clearing, for investors to participate in the RMB kg of transactions such as leveraged transactions to disguise the yuan, not only to earn the price of gold increases, but also make the exchange rate increases?
Haywood Cheung believes that both Hong Kong and Shanghai gold market will gradually open up, this will help the internationalization of RMB. He said that in order to open up both the gold market, trade market with the Shanghai Gold Exchange, consultation, mutual recognition of qualifications both lines.
Risk appetite continued to improve safe-haven appeal of gold dropped
Market risk appetite continued to improve, safe-haven asset given the cold shoulder, Friday (1) Spot gold fell again moderate.
Spot gold hit a high of $ 1,502.40 / ounce, the lowest dropping to 1,478.00 dollars / ounce, closing at 1,486.30 U.S. dollars / ounce, on the trading day to close at 1,500.51 U.S. dollars / ounce, down $ 14.21 / ounce, down 0.95 %.
COMEX8 gold futures for February delivery fell $ 20.20, to close at $ 1,482.60 an ounce, down 1.3 percent, the highest since May 17, the lowest closing price since this week in New York gold futures fell 1.2%.
The world's largest gold exchange-traded fund (ETF) - SPDRGoldTrust said its ending June 30, gold holdings remained at the same level of 1,208.23 tons.
Institute for Supply Management (ISM) data released on Friday showed the U.S. June ISM manufacturing purchasing managers index (PMI) rose to 53.5 from 55.3 in May, the expected 51.9.
Data provider Markit, a major survey released Friday showed the euro zone manufacturing sector in June Markit purchasing managers' index (PMI) fell to 52.0, down from 54.6 in May, and is the lowest since December 2009.
Well-known market research agency Markit data released on Friday showed Germany's manufacturing sector in June purchasing managers' index (PMI) the final value of 54.6, lower than the initial value of 54.9 and 57.7 in May. The market had expected 54.9.
U.S. Department of Commerce (CommerceDepartment) data released on Friday showed a seasonally adjusted U.S. May construction spending fell 0.6 percent monthly rate, annual rate of 7,534.8 billion U.S. dollars, is expected to be flat.
Credit Agricole (CreditAgricole) analyst RobinBhar said: "If there liquidated damages or Greek debt situation like this is hard to imagine there are other factors that can make the gold to another record high."
He also said: "The other one can make gold and then refresh the high factor is the Federal Reserve to introduce more quantitative easing measures, but this is unlikely to occur in the present. The United States refers to the rebound may occur, which is detrimental to gold."
Action proposed:
The second round of the quantitative easing Federal Reserve monetary policy (QE2) end as scheduled last week, the biggest buyer of the bond market with the Fed's exit, 10-year Treasury prices fell, debt interest rate rose 33 basis points to 3.2%. It also shows that nowhere in the market that QE3 hard to find. Meanwhile, U.S. economic data began to emerge from our preliminary analysis, such as Japan, earthquake, weather and other short-term factors, the gradual recovery trend of thriving. We still stick to our point of view: "The recovery is still weak recovery in the U.S. economy and the dollar should not be too bearish." Week online to see the dollar may have bottomed in Europe and the outbreak of a new debt crisis is not the case, the dollar's upward pressure on gold is still there. July 4 U.S. Independence Day closed, the price of gold will drop the day before yesterday, after maintaining a slight rally, but the overall decline does not change, continue to hold an empty one. Friday, investors may miss the opportunity backed by CSA 1495 CSA. The first target bit 1470.
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