On that day, the European and American markets were affected by debt. The three major European stock indexes closed down across the board for two consecutive days, with a cumulative decline of more than 2%. The three major stock indexes of the New York stock market also fell sharply on the 15th. The Dow Jones index fell 1.48%, while the S&P and Nasdaq indexes botPrecious metal thinking puttyh fell close to 1.8%. International oil prices fell sharply, and New York oil prices fell 4.59%. The exchange rate of the euro against the US dollar fell sharply by nearly 2%, the largest drop since August last year. Investors expect that the euro exchange rate will fall in the future.
This week, the Federal Reserve's Open Market Committee (FOMC) will hold an interest rate meeting. This meeting will undoubtedly become the focus of market attention and will have a greater impact on the trend of the US dollar and gold. The market expects the Fed to maintain a moderate policy. Wording and may introduce further measures to boost the weak economy. At the same time, the further development of the European debt crisis, changes in market risk sentiment, as well as gold ETFs and physical demand will also become important factors affecting gold prices. And this Friday (September 23), the World Bank and the International Monetary Fund will hold the 2011 annual meeting, which will also become a key event in the financial market every year.
On December 6, Chongqing Coin Company issued gold coins 2012 (Renchen) Lunar New Year gold bars in Chongqing. On the 6th in Chongqing, two-thirds of the Lunar New Year gold bars were ordered. A middle-aged female customer on the 6th At the scene, 120,000 yuan was purchased to purchase 4 Lunar New Year gold bars.
Barclays Capital (Barclays Capital) stated in its latest research report on Monday (November 26) that in view of geopolitical tensions, dollar volatility, and stock market rebounds, gold has recently shown volatility and is rising in a bullish macroeconomic environment. . However, as the demand for physical gold in Asia continues to show weakness, it is cautious to bullish gold. The bank said: Gold prices may continue to seek the promotion of the macro and geopolitical environment, but the downside depends on the physical gold market and central bank buying, and the latter seems to be more supportive. The report said: Although the price of gold has stabilized near the resistance of $1,740 per ounce, the overall situation is still bullish. In fact, we regard the pause in the rally as the healthy development of this wave of rally since the November low of close to $1,670 per ounce. We believe that a breakthrough above the $1,740/oz level is expected to confirm the further uptrend of gold, with the near-term target at the $1,775/oz area. We seek to test and break near the area high of $1,800/oz to confirm a more ambitious bullish view of gold's rise to a record high of $1,921/oz. Yihuitong (yht.fx678) market data center shows that at 02:58 Beijing time, spot gold fell $1.66, or 0.09%, to $1,748.59 per ounce.
Prior to this, ICBC, Bank of Communications, Industrial Bank, and Minsheng Bank (600016, shares) have become the first self-operated members of the futures exchange and can participate in the gold futures business. According to reports, the way for banks to participate in gold futures is different from the previous gold exchange Au(T+D) (gold spot deferred delivery transaction) business. Banks can only operate on their own, not as agents. And in nature, the bank's futures transactions are mainly based on hedging and arbitrage transactions, mainly for hedging the risks of spot positions. Therefore, for banks, gold futures put forward some new requirements in terms of business process and risk control, and each bank will also focus on its own business characteristics.
Barclays Capital (BarclaysCapital) pointed out on Wednesday that the price of gold is slowly rising, gradually regaining lost ground after testing the loPrecious metal thinking puttywest level since July at the end of last year. The key supporting factors for gold remain: central bank buying, negative real interest rates and long-term inflationary pressure growth.
Since last week, risk events have continued to emerge in the market. In particular, the Greek Prime Minister’s announcement of a referendum on the EU’s new aid plan shocked the financial markets. The news once triggered a sharp decline in European and American stock markets, and safe-haven buying supported gold prices. Although Greece finally abandoned the referendum plan, the results of the just-concluded Group of Twenty (G20) summit are not optimistic. Few countries in the G20 have committed to participate in the European Financial Stability Fund (EFSF), which cast a shadow over the achievements of the previous EU summit.
Commezbank said on Wednesday that rating agency Moody had downgraded the ratings of two major French banks, which could dampen confidence in the banking industry. In addition, German Chancellor Angela Merkel's comments suggest that the tripartite agency left Greece a week and a half ago not just for technical reasons. All signs show that debt worries will continue to linger in the short term.