Asteroids affect the precious metals market

Asteroids affect the precious metals market

On August 2, the market began to pay attention to the impact of economic fundamentals after the bad news about gold came out. The market panic caused by a Asteroids affect the precious metals marketnumber of poor economic data in the United States entered the market. Long gold and bonds pushed up the dollar and gold, and gold was in the day. There was a sharp rise that was rare during the year.

As the precious metal among the precious metals, platinum is pure, rare, and eternal. It still shines as new as time goes by, and it is more sought after than gold. In view of the current market environment, it takes a lot of courage to sell gold completely now. Investors may be investing in terms of platinum-to-gold price ratio. They are bullish on gold, but bullish on platinum.

On Monday, the United States Mint stated in a memo to authorized purchasers that although one-ounce gold coins are still the most popular currency, the demand for one-tenth ounce gold coins is very strong. Compared with the same period last year, the cumulative annual purchase of these two gold coins has increased by 118%. Accordingly, the United States Mint temporarily suspended the sale of one-tenth ounce gold coins until the government stocks of gold coins were replenished.

On the last trading day (15th), the US dollar index rose slightly, but it did not affect the support of low buying for the price of gold. After falling for 5 consecutive trading days, gold and other precious metals closed up yesterday. According to data, as of the close, London Gold was reported at US$1,232.25, an increase of US$4.15, an increase of 0.34%; spot silver followed the upward trend of gold and closed up 4 cents to US$18.66, an increase of 0.21%.

However, analysts generally believe that the world economy has indeed experienced a certain degree of slowdown in the past few months, which is mainly dragged down by factors such as the earthquake in Japan, high oil prices, and the turmoil in the Middle East. However, the overall recovery trend remains intact. Factors are gradually weakening, and the global economy is expected to regain momentum in the second half of the year.

After a short-term upsurge, the current point is not the time for investors to buy. Investors can choose to consider entering the market after October. Jiang Yufei said that because of the US general election in October, the Fed may announce some policy measures andAsteroids affect the precious metals market express its attitude during this period. At the same time, the European debt problem may also have a definite direction by then. It is a better time to consider buying gold at that time.