Bloomberg Precious Metals

Bloomberg Precious Metals

According to TASS News, the information director of the Central Bank of Belarus, Drozdorf, recently revealed to the media that the People’s Bank of the People’s Bank of China will allocate 20 billion yuan (approximately US$3 billion) to the National Bank of Belarus in the near future. Included in the national gold and foreign exchange reseBloomberg Precious Metalsrves.

From a technical perspective, the price of gold fell behind at $1,160 per ounce last week and was blocked by the first-line resistance at $1,145 per ounce. A yin line with a long upper shadow is closed on the weekly chart, indicating that the medium-term upward pressure is quite strong. If the short-term gold price fails to return to above 1140 US dollars per ounce, the market outlook may enter the pre-return trend, again testing the resistance near 1100 US dollars per ounce below.

According to the Wall Street Journal, earlier this year, Barclays (Barclays) deliberately built a valuables storage room in a secret place in London. This was the first valuables storage room built in the UK in five years. It also helped a group The neglected poor people are very busy, these people are the ones who hold too much gold and don't know where it is stored. This is yet another trouble caused by the popularity of gold. The price of gold has doubled since 2008. Unless something unexpected happens on New Year's Eve, 2012 will be the twelfth consecutive year that gold has risen in US dollars. The price of gold has risen by about 9% so far this year. According to the World Gold Council (WorldGoldCouncil) data, the demand for physical gold in 2011 was 1,159 tons, an increase of 30% over the previous year. How can the price of gold not rise? A series of financial crises have exposed the shortcomings of paper assets. It is also paper assets that once made gold a stale antique, only sought after by those stubborn, stubborn gold worshippers in the market. Times have changed, and now everyone has become a money worshiper. First of all, the chaos of the subprime mortgage crisis tells us how unreliable the complex derivatives that have become the core of financial capitalism are. The second phase of the crisis destroyed traditional safe-haven assets. Bonds, which were doubled as risk-free, quickly proved to be incomparable with gold. By lowering interest rates to historical lows and introducing quantitative easing policies, the trusted currencies of AAA-rated countries that had no taint have begun to be questioned by the outside world. These currencies will depreciate further, won't they? The Federal Reserve (Federal Reserve, referred to as Fed) has launched a new bond purchase program, and the Bank of England (Banks of England) and Japan will undoubtedly expand their stimulus policies next year. And there is no sign that interest rates will rise in the foreseeable future. In this way, should gold enter its thirteenth year of rising? But FxPro analysts are not very sure about this. What worries them is the role of gold as a traditional inflation hedge asset. Although no one denies the possible inflationary pressure brought about by the global quantitative easing policy, the hyperinflation predicted by some people has not yet appeared. Of course, after the crisis, the inflation situation will always worsen, but which aspect of the global economy is not like this? For example, employment in the United States, growth in Europe, and many more can be cited. All conditions have become unfavorable. Wages have grown slowly, economic growth in the West has slowed, and oil prices have tended to fall. There seems to be no signs of crazy inflation in 2013. As FxPro pointed out, whether the gold bulls can continue to dominate the market next year will largely depend on whether the signs of inflation triggered by the global quantitative easing policy will begin to appear next year. Maybe they are right. The quantitative easing policy is still being implemented, but the most glorious moment has passed, which may mean that a key support factor for gold prices is weakening. Even so, unless you really believe that the market will restore trust in Western countries’ fiscal management capabilities in 2013, Barclays’ valuables storeroom will receive a lot of business, no matter where it is built or what the inflation situation is.

However, this only means that the central bank has just started to keep up with private investors. Many years ago, private investors have begun to pick up in gold investment. According to data from GFMS and the World Gold Council, at the end of 2009, private investors' gold holdings gradually exceeded official holdings. In 2010, they accounted for about 18.7% of total gold holdings, while official holdings accounted for 17.4%. These include the central bank and the International Monetary Fund.

15-minute broken line chart of XAUUSD contract: the water level is between US$1860.2 and US$1804.3, within 60 US dollars, the fluctuation range maintains the recent average of 60 US dollars, the conventional volatility, the M-head pattern on the graph may still exist, and the gold fluctuation range moves down to 1850 to 1800 For the US dollar, we believe that the weak market for 3 to 5 days has been verified. Yesterday, gold continued to explore the middle track and fell below.

Global inflation, quantitative easing, and the prospect of economic downturn have made gold's anti-inflation and risk-haven functions sought after by investors. In terms of seasonality,'Golden Nine Silver Ten' will soon enter the peak season of annual gold demand. In the long run, the oversupply of global currencies, the prospect of inflation, and the economic downturn will be the fundamental factors supporting the long-term rise of golBloomberg Precious Metalsd. Zhao Wei, an analyst at China Merchants Bank, said that as long as the market fundamentals remain unchanged, gold is still a relatively stable investment tool.

The actual one-month US dollar loan interest rate is still LIBOR plus 80-100 basis points over the same period, which is at least 56 basis points higher than GOFO. This allows some large money market hedge funds to see arbitrage opportunities. Chen Weijian revealed that they first borrowed physical gold positions from gold brokers at the GOFO price, and after cashing out in the futures market, they then borrowed them to European banks, earning at least 70-100 basis points of risk-free spreads.