Just as the market became more anxious about the health of the European financial system, the situation on the Korean Peninsula suddenly became extremely tense. Under the pressure of multiple risk factors, risk aversion dominated the market, and investors dumped high-risk assets such as stocks and commodities. , The US stock market Dow plunged more than 200 points at the opening, the first time it fell below the 10,000-point mark since February; at the same time, international International Precious Metals Searsby TXoil prices fell more than 4% in intraday trading.
This can only be said to be an accident. In a black swan event, no one can predict that there will be a bizarre drop in global gold and silver prices during our system upgrade. The customer service staff of the above-mentioned standard gold said that we can only deal with investors' complaints in accordance with the terms of the contract, and the deposit collected must be recovered.
Although there is still a certain probability that QE3 will be launched, as the US economy gradually improves, QE3 expectations have gradually weakened. In addition, the European debt crisis has been suspended as Greece once again received aid, and market risk aversion has declined. These news suppressed the rise in gold prices. Li Ning, a mid-term futures analyst, said in an interview with a reporter from International Finance News.
On August 11, the Chicago Mercantile Exchange (CME) increased the trading margin requirements for a series of gold futures products, raising the margin requirements for speculative trading of Comex100 gold futures contracts from US$6075 to US$7425, and raising the maintenance margin requirements from US$4,500 to US$5,500. Dollar.
On May 4, the limit continued to fall. Zhang's 300 contracts still cannot be traded. On May 5, the tragedy continued. Xiao Zhang's 300-hand contract was still smashed in his hands, and the third time a margin call was nearly 230,000 yuan. On the same day, the Gold Exchange announced that starting from May 6th, the price limit of the silver T+D contract was adjusted to 10%.
Deutsche Bank (DeutscheBank) commodity strategist MiInternational Precious Metals Searsby TXchael Lewis said: We have not seen any factors that will change buying interest in gold. We still believe that the price of gold will rise to US$2,000/ounce next year, and there is a further momentum for the price of gold to rise to US$3,000/ounce.
When the price of gold rose to five times that of 10 years ago in 2011, it was very busy here. However, the Japanese are not busy rushing to buy them, on the contrary they come here to exchange cash with the gold items hidden in their homes. Sometimes you need to queue for hours to bring the gold jewelry to the clerk. Saito Koichi, deputy director of the precious metals division of Mitsubishi Materials Corporation, told "Oriental Outlook Weekly."
Last week, the economic data of Germany, the economic locomotive of the euro zone, was relatively beautiful, which gave the euro a certain degree of support. The retail sales data and consumer price index released on Friday were better than expected, coupled with the strong employment data released on Thursday, reflecting the country’s positive economic momentum. But the economic data of a country is not enough to reverse the decline of the entire Eurozone.