Precious metals week review: a short-term maintain long-term volatility is still bullish on ( 5. 9 - 5. 13)
a, precious metals market review
the market prices a week summary
the rise in the dollar index has rebounded sharply before the silver and gold prices, gold and silver will likely fell for the second straight week this week, will be the worst week since march. Spot gold above resistance has been revised down before the 1300 level is 1288 on the line, below 1256, preliminary support. Short-term silver in the 17th. 4 a ray of strong resistance, below to see in the 16th. 7 a line performance.
recorded by draft spot gold to 1274. $25, Bai Yinlu 17. $11, platinum last at 1056. 906 dollars, the domestic gold close at 267 99. 50 yuan/grams, gold closed at 266 95. 85 yuan/grams, platinum 95 closed at 236. 50 yuan per gram.
1 second, the relevant market analysis. Peripheral markets
beauty refers to the rally this week, although the loose tone is given priority to, but the market continue to push up the means of bull, weigh on precious metals prices, refers to the negative correlation between gold and beauty.
around production, Canada wildfire matters such as the local production are good rise in crude oil, crude shunt gold market funds strong, make further pressure on the gold market, both a negative correlation between this week.
for Disney, macy's and Fossil weak quarterly results and outlook, U. S. stocks performed poorly, short-term upside is blocked, but if interest rates expected to rush for the medium and long term market, stocks are expected to record again, with the same features of the gold.
2. Fund positions trends on May 12, 2016,
the world's largest Gold fund SPDR Gold Shares Gold holdings to 845. 19 tons, 11 tons of increase from last weekend. Gold ETF has not affected by the recent slide down, 11 consecutive trading day inflows, is the highest level since November 2013, it also makes the gold prices to remain high shock interval, is the solid support of the gold market.
in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 10421. 95 tons, fell 32 last weekend. 55 tons. April prices sharply higher brought silver SLV inflows, and this month the price continued to retreat, fund holdings, constantly high pressure to the silver. Inventory
3, market as of May 12, the week of May 7, increase 20000 claims for jobless benefits, a seasonally adjusted to 29. 40000, the highest since late February 2015, analysts expect to decline to 270000.
the Kansas city fed chairman Esther George said on Thursday, for the American economy, the current low interest rates. She supports gradually raising interest rates, and low interest rates may produce economic risks.
the Cleveland fed chairman Loretta Mester also delivered a speech on Thursday, said the fed should realize that the uncertainty of the economic outlook, but that should not interfere with the fed's policy action.
the next Zhou Chongyao events and data on May 17, the United States
4 Chinese rose after the CPI month rate on May 18, the eurozone April CPI at an annual rate of final value, April CPI monthly rate, the committee announced in April that fed monetary policy meeting minutes
5, and to the rich treasure
in the near future of gold is given priority to with wide range, although the fundamentals remain too loose, the federal reserve to raise interest rates in June is unlikely, but the demand of the recent technical callback is strong, the gold market fluctuated violently. We to the medium and long term trends remain upbeat on, continue to look at around $1300, above every callback can be bought. Amplitude than gold and silver
its recent decline to continue as a technical correction, below the support at 16. 8, 16. Near $3, the callback is a good time to buy, still suggest to buy low.