Not only that,Wheaton precious metals inventory Soros also reduced 2.58 million shares of Kinross Gold and 9.41 million shares of mining company Nova Gold Resources during the quarter. Although he bought 301,300 shares of McMorland Copper and Gold and 76 million shares of Goldcorp in the first quarter, the amount of investment is far from the previous large sum.
Lunar New Year gold and silver bars have two major functions, one is collection value, and the other is investment. According to Zhen Weigang, chairman of Yuebao Gold, the appreciation potential of the Chinese zodiac gold and silver bars can be seen from the issue price of the past 10 years. 10 years ago, the issue price of the New Year gold bars for the Year of the Goat was 110 yuan per gram. The price is 435 yuan/gram, and only the net price increases by an average of 30% per year. Which product or industry can have such a high growth rate?
The recent performance of international gold prices has been lacklustre, and the August New York gold contract oscillated between 1515 and 1554 US dollars. The recent changes in institutional operating styles and the diversion of funds have led to the inaction of gold prices, but the golden light is hard to retreat. Investors can wait for the buying opportunities after the return of funds.
The "Daily Economic News" reporter noticed that many predators had withdrawn from the market before the avalanche. Take Soros, for example, who cut gold-related positions by 99% in the first quarter of this year and warned that gold is the ultimate asset bubble. Paulson, a hedge fund manager who made his fortune by shorting subprime mortgages, reduced his gold trust holdings by 36% in the third quarter. It is worth mentioning that according to a survey of 44 traders and researchers by Bloomberg, the current bullish sentiment for gold is the worst in 31 months.
In 2011, the few waves of gorgeous rising curves that the precious metals camp dominated by gold came out of became the most dazzling bright red in the greenery. And during the Spring Festival holiday of the Year of the Dragon, gold also showed a strong uptrend, making many investors full of expectations for the return on precious metals investment this year.
Following the downgradWheaton precious metals inventorye of Greece's rating and Italy's rating last weekend, Fitch Ratings lowered the outlook for Belgium's rating to negative this Monday, which pushed the price of gold to rebound slightly and regained its position at US$1,510 per ounce. There are few relevant data this week. The Eurozone debt crisis will continue to dominate the market and may spread further. It is expected that the price of gold will maintain a consolidation pattern and is expected to fluctuate upward.