In 2010, Italy's GDP grew by 1.3%. Although it ended two consecutive years of decline and bottomed out, the pace of recovery lags behind the EU member states' average growth rate of 1.8%. From the firPrecious metals market observationst quarter of 2008 to the first quarter of 2011, the country's GDP shrank by nearly 6%, and the rate of contraction ranked fourth among the member states of the Eurozone. Last year, Italy's public debt exceeded 1.9 trillion euros, accounting for 120% of GDP, and the ratio of fiscal deficit to GDP was 4.6%.
On April 25, international silver prices are challenging the historical high of $50 per ounce. Domestic silver T+D hit the daily limit, rising to 10,686 yuan per kilogram. On the 26th, the myth of creating wealth was interrupted. The international spot silver price hit its biggest one-day drop in six weeks, and the intraday spot silver price fell by as much as 4.9% to a low of $44.62 per ounce on the day. At the same time, the silver T+D of the domestic gold exchange also plummeted, falling below the 10,000 yuan mark, and closing price was 9900 yuan per kilogram, a sharp drop of 786 yuan from the previous trading day, a drop of nearly 7%, setting a record for silver in recent years. Decline record.
However, the good times did not last long, and the price of gold immediately plummeted that day. The price of gold fell by 60 US dollars per ounce to close at 1873 US dollars. On the 7th, the slump of gold market continued. Under the pressure of the rising US stock market, the price of gold plunged more than 3% again, and the lowest point has fallen below the $1800 per ounce mark. The bungee jumping market soared and plummeted hundreds of dollars in two days.
On September 18, 2014, the Gold Exchange established an international gold trading center in the free trade zone, the Gold International Board. As a major move in the internationalization strategy, it has launched new gold trading products and carried out business innovation. Today, the Gold Exchange is accelerating the establishment of gold renminbi pricing rules and systems, and has made considerable progress. It is now stepping up the technical development of gold renminbi pricing trading platforms and mechanisms, improving pricing trading rules, stepping up compliance review and domestic Solicit opinions and suggestions from related institutions and market professionals. After the final complete plan and rules are formally approved by the People's Bank of China, the Gold Exchange will actively promote the global market.
The silver futures price for December delivery rose 89.9 cents to close at 42.53 US dollars per ounce, an increase of 2.2%. The platinum futures price for delivery in October closed at US$1854.5 per ounce, up US$25.8 or 1.4% from the previous trading day.
However, many central banks do not care about the above-mentioned market shocks. According to statistics from the World Gold Council this month, there were 9 central banks that continued to increase their gold holdings in the first four Precious metals market observationmonths of this year. The global central bank system increased their gold holdings by 93.7 tons in the first four months. A total of 13.3 tons of gold reserves were added through various channels. In February, the central bank's reserves decreased slightly by about 0.3 tons, but in March, all central banks' gold holdings increased to 80.7 tons.