Although the current international gold price has fallen from a high of over $2,000 per ounce, and the fiery investment enthusiasm has cooled, it is under the combined influence of the gloomy outlook for the dollar, the market’s concerns about global economic recovery, and the large-scale monetary and fiscaRenaissance precious metalsl stimulus policies of the United States. , The medium and long-term international gold price still has supporting factors, and its attractiveness to investors still exists. It is worth noting that international gold prices will continue to fluctuate.
The debt crisis in Europe has intensified and the market’s risk aversion has increased, stimulating the rise in the US dollar index, and the prices of commodities are under severe pressure. The recent rise in the US dollar, combined with multiple profit-taking and the European Central Bank's demand for monetary funds, caused the price of gold to fall sharply, breaking the previous upward track. However, the author believes that the current global instability is predominant, risk aversion is intensified, and the United States' own debt crisis still has hidden dangers. Affected by this, the rise in gold prices is just around the corner.
However, the economic data released on the 26th was negative for gold prices. The American Economic Consultative Council announced that its consumer confidence index rose to 69.6 in February, the highest level in three months, far exceeding the 62.3 expected by analysts. At the same time, the U.S. Department of Commerce announced that the sales of new homes in the United States in January increased by 15.6% to 437,000 units, the highest point since July 2008. However, the impact of optimistic economic data on the hedging properties of gold lasted only a short time.
In the recent round of the gold price plunge, gold and silver coins have become a safe haven for investors. Although the prices of some newly issued gold and silver coins have fallen slightly, the decline is much smaller than the international gold price. The price of the old fine and rare coins that have long been free from the fetters of gold material remains unchanged. This has caused many gold investors to pay attention to the gold and silver coin market, and the most watched of them is the panda gold and silver coins.
Silver four-hour chart: the trend is good, forming an upward channel, and it is currently blocked at the pressure line. Today, we will focus on the pressure of 6950 yuan. It is not advisable to look blindly in the short-term. Long moving averages are arranged, MA5 moving average is supporting the silver price at 6,880 yuan, MACD indicator, multi-market above the zero axis, rising momentum weakened, double-line air refueling, look for shocks; overall silver is expected to continue its upward trend, but you need to beware of rising and falling.
Mirasola said that the fall in CPI and PPI data is often considered to be a symbol of economic downturn, which has also increased expectations that global central banRenaissance precious metalsks will adopt quantitative easing policies to curb the economic recession. Gold and bulk commodity prices will be supported, and the current round of stimulus expectations are also expected. Boosted the risk sentiment of traders.