[2014-07-09]Gold prices remain high and volatile During the year target of $1400 After a 6% rally in June, the price of gold always maintain high and volatile since July, even if a large good non-agricultural data didnt make gold out of since July 1309 to $1333 an ounce, a narrow range. The U.S. labor department released on July 3, June non-farm payrolls than expected; 6.1% unemployment rate in June, is also very beautiful, but gold contrarian quick rebound after a short downward, this is reflects the market bullish sentiment of gold at the moment. In addition, the worlds largest gold ETF SPDR7 month have to increase by 13.17 tons of gold, the current total holdings of 798.19 tons. Although the 13.17 tons of this number is very small, but it is already a higher monthly since 2013 to increase quantity, monthly increase only slightly lower than in March 13.27 tons, and this year falls on high $1392 an ounce in March. So-called SPDR gold vane convey to the market for gold bullish signal. Performance in the physical aspect, gold investors to gold in the past were too pessimistic. According to the census and statistics department of Hong Kong, according to the first five months of this year, Chinas total gold imports from Hong Kong, just flat with the same period of last year to 400 tons. After India, the government announced in the budget policy, demand is likely to increase. For now, the market of bullish sentiment is the main cause of the gold price upward, and regional conflicts in Iraq and Ukraine upgrade can be an agent for the gold price upward breakthrough. The United States, although the employment situation is good, but still not to rest easy, such as its performance is still very weak in GDP figures. In this case, a change in the upcoming us fiscal policy for short periods of time, will continue to give priority to with loose. With the increase of the second half of the gold demand, there are reasons to look good in the second half of gold. However, we argue that although gold looks very optimistic, but from the point of a longer cycle, the dollar rate is still hanging in the blade of gold at the top of the dharma Chris. In October this year, the federal reserve will basic exit a third round of quantitative easing (third). As the economic recovery and rising inflation in the United States, the dollar interest rates will be on the agenda. Several big investment Banks have rates to rise $time expected from two quarters in advance to the second half of 2015, 2016, the dollars rise is predictable. And it also decides the rise in gold prices rebound, rather than the reverse, the bear market is far from the end of the gold.
Posted on: Wed, 09 Jul 2014 08:09:25 +0000
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