[2014-07-23]The hedge demand for desalination gold fell 0.6% Tuesday Beijing time on July 23rd morning news, Tuesday, America generally positive earnings and economic data on the hedge market sentiment may suppress, the price of gold to mild background down in demand, closed at $1306.30 an ounce of gold exchange traded in the main contract. The New York Mercantile Exchange in August the main gold contract Tuesday fell 7.60 U.S. dollars, to close at 1306.30 U.S. dollars an ounce, or 0.6%. The geopolitical situation gradually cooling down, suppress gold. The horse boat crash triggered the geopolitical tension further out, after Ukraines opposition to the aircraft black box and the bodies of the victims of the representative of Malaysia, likely to trigger further deterioration of the situation of the news of factors has temporarily been eliminated, which makes the hedge market sentiment gradually subsided. The situation in Ukraine, government forces and rebels fighting still in progress. In addition, the situation in Palestine and Israel did not significantly deteriorate, countries have called for a ceasefire. The overall performance of economic data released American good, also suppress gold. The performance, including data better, the FHFA index of house prices, home sales and Ricci Mond manufacturing index, in addition, USA CPI expected. And America Goldman store sales compared with last week a little difference, but the data did not cause too much concern to the market. Holdings of gold by July 21st the worlds largest gold exchange traded fund SPDR Gold Trust in comparison with the previous trading day by 1.8 tons, to 803.34 tons; silver holdings of the largest Silver Exchange Traded Fund iShares Silver Trust in comparison with the previous trading day is kept on 10038.52 tons. Market price trend analysis: Royal Bank of Canada (RBC) analyst George Gero said: I dont think it will be a breakthrough, but I think there are so many things happened, gold prices will remain at 1300 U.S. dollars / ounce level. Now is not the people because buying a thing, but the bet on gold. In addition to rate and regional disputes, there are plenty of things to worry about, even if the stock market also appeared some profits. In addition to rate and regional disputes, there are plenty of things to worry about, even if the stock market also appeared some profits. People begin to turn to gold as an alternative. TD securities (TD Securities) senior commodities analyst Mike Dragosits said: the fundamental point of view, not too much gold push factors. In addition to the attention Chinese demand, the price on the market of Shanghai for discount, so not much demand, at least over the past few months, that is, we do not see what is better. Unless Ukraine crisis really big upgrade, or gold will go up is very difficult. Unless Ukraine crisis really big upgrade, or gold will go up is very difficult. Phoenix Futures and Options chairman Kevin Grady said, the golden faced many difficulties, including lack of real demand factors. Grady said: I think, the key is to see who buy in. Territorial disputes in the speculators in the market approach, while the real game player is in selling, so I think the rise will be short-lived. Many speculators in pushing prices up to 1325 levels. Many speculators in pushing prices up to 1325 levels. Grady thinks, reaction ratio on the gold market of Ukraine and Israels Gaza operation reaction is greater, while European weakness will be dealt a blow to the prime factor. In addition, he also worried about the banking system health problems. The famous investment bank Merrill Lynch (BoA/ML) said, because the future of emerging market buying of gold constitute support enhanced gradually, which means that after the gold market the worst moment may have been away from us. Bank of America Merrill Lynch analyst Michael Widmer said, after the 2013 crash corrected this year, gold prices have begun to stabilise at. Bank of America Merrill Lynch analyst Michael Widmer said, after the 2013 crash corrected this year, gold prices have begun to stabilise at. From the supply perspective, the current western gold selling has slowed, while emerging market real gold buying has stabilized, which stabilize prices largely. ANZ Bank (ANZ) commented that, gold as a result of the Ukraine crisis rally is still limited, the current investors are waiting for data American of inflation. Gold as an alternative currency can hedge inflation pressure.
Posted on: Wed, 23 Jul 2014 04:40:01 +0000
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