San Juan Precious Metals

San Juan Precious Metals

The U.S. debt ceiling agreement does not seem to affect the enthusiasm of global central banks to pursue gold assets. On Tuesday, the Bank of Korea announced that it had bought 25 tons of gold in the past two months. This is the first time the country has bought gold in more than a decade. AsSan Juan Precious Metals a result, South Korea has also become the latest member of the global central bank force that has been buying gold in recent years.

RJOFutures Index Commodity Broker Bob Haberkorn said on Thursday that after Federal Reserve Chairman Ben Bernanke spoke at a congressional hearing, gold futures prices appeared to be in a defensive state, because his speech suggested that further monetary easing may not be like investment. Come as soon as they expected.

On Tuesday (February 2), due to the plunge of crude oil prices again, which dragged down commodities under pressure, the silver price dropped to 14.21 US dollars at the lowest intraday, but finally closed at 14.30 US dollars, maintaining a narrow range as a whole. Silver on Wednesday (February 3) in Asia fell slightly to near 14.25 US dollars in early trading.

Affected by the positive news in the Greek polls, the international gold price rebounded on Monday. From a technical perspective, this rebound made the gold price appear a small double bottom. Although the technical form supports the continued rebound of gold prices, there seems to be endless bad news in Europe. The problems of countries such as Greece and Spain are like invisible bombs, which will come up at any time to attack the risk appetite of the market.

At present, the debt ceiling framework agreement reached by the two parties in the United States is not the best expected by the market. Guo Zhongliang, an analyst at the Yihe Gold Research Center, does not believe that the US debt crisis has completely passed. Therefore, the market previously expected that the US Treasury debt ceiling would be raised by US$2.4 trillion at a time, so that there is basically no need to worry about US debt default. However, the final plan to increase the US debt ceiling is divided into three stages, and each time it needs to be approved by Congress. This means that there may be two default risks of similar US debt in the future, especially at the end of this year and before the general election next year. The sex is greater. From this perspective, investors can still bullish gold. Guo Zhongliang said. There are many factors that affect gold price fluctuations. Compared with U.S. debt, the issue of European debt still requires continued attention. Overall, we are optimistic about gold in the coming months. Gold analyst Yang Yijun said.

On the 24th, investment experts from the Jiangxi Gold Trading Center of Zhaojin Group stated that although gold still has room for growth, in the context of the global capital market plummeting, the reason for the strength of gold mainly comes from its specialSan Juan Precious Metals response to inflation and hedge against risks. Function, followed by profit function, and the greater the volatility of the gold market, soaring rises and falls will occur at any time, so people who expect gold speculation to become rich overnight need to adjust their mentality.

Liu Shanen, secretary-general of the Expert Committee of the Beijing Gold Economic Development Research Center, told the "Daily Economic News": (this proportion) has remained at a level of about 2% for many years. Although European countries are reducing their gold holdings, their gold reserves still account for 15% of their foreign exchange reserves.