Precious metals week review: celebrate festival gold confined (slightly 9. 12 - 9. 14)
a, precious metals market review
this week gold long-short performance between the two sides in strength, but because of the fed's policy-setting meeting approaches, optimistic market as a whole atmosphere, spot gold showed more slant down movements, but long also not to be outdone. Can only say that now, more than empty both of us don't have enough strength, retreat.
recorded by draft spot gold to 1320. $9, 18 Bai Yinlu. 99 dollars, platinum last at 1035. 75 dollars, the domestic gold close at 284 99. 95 yuan/grams, gold closed at 284 95. 3 yuan/grams, platinum 95 closed at 238. 5 yuan per gram.
2, relevant market analysis,
1. Peripheral markets
this week, refers to the relatively optimistic market optimism dominated low, optimistic about the meeting next week as a result, with relatively upbeat U. S. economic data, beauty is refers to the relatively strong, and at the same time it brings great pressure to precious metals prices.
the EIA report on the status of the excess supply of crude oil into will continue, and crude oil supply situation will continue for a long time, the price of crude oil is difficult substantive improvement. Weak crude oil prices against the gold highlights its safe-haven attributes, positively related to the relation between this week.
this week stock volatility, fed officials speaking markets rain or shine, and the meeting coming next week, the market will also be heavily on raising interest rates before the may, U. S. stocks have rebounded space.
2. Fund positions trend
as on September 13, 2016, the world's largest Gold fund SPDR Gold Shares Gold holdings to 935. 49 tonnes, a slightly reduced 4 last weekend. 45 tons. Market this week to raise interest rates expected is thicker, institutions for gold is not optimistic.
in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 11272. Reduction of 98 tons, slightly from last week is 8. 86 tons. Due to the market as a whole, optimistic, the silver market is also under pressure, short-term holdings of silver, but more empty during the same strength.
3, market inventory
the week the United States on September 10, chain store sales growing at an annual rate of 0. 0 4%, the week before for growth. 8%. More, according to data from September 10 week America redbook commercial retail sales month rate by 0. 3%, the week before is 0. 1%.
Atlanta fed President Dennis Lockhart speak hawks. He said & other; In 1. Inflation of 6% and 4. Under the 9% unemployment rate, you will think interest rates are only slightly more than zero still is ok for you? ” But he also said that not the urgent need of raising interest rates, in a specific meeting.
4, a Zhou Chongyao future events and data
on September 15, the PPI in August month rate ( %) ；
on September 16, the United States in August is not seasonally adjusted annual rate (CPI %) ；
the Shanghai gold exchange, September 15 to September 18, were closed, September 19, open as usual; On September 14th night without continuous trading. Shanghai futures exchange, September 15 to September 17th for a holiday, on September 18, will be closed for the weekend, on September 19th opened as usual; On September 14th night without continuous trading. Banking day in summer. The London stock exchange was closed one day.
on September 22, the United States on September 2, the week the federal funds rate;
5, and to the rich treasure
two days later the Chinese Mid-Autumn festival holiday, but China was closed to the influence of gold is not so straightforward. Market is the most important still is affected by the fed's policy-setting meeting next week. In this paper, we have mentioned many times. U. S. economic data on the whole relatively optimistic, but also is not good enough to immediately to raise interest rates. Results, then, is expected next week's meeting will not give you surprise, gold prices are slightly lower after the rebound. On the whole, or is expected to shock is given priority to, interval to see 1290 - 1340 dollars.
trend is expected to follow the gold, silver present the pattern of fall after rise, or below 18 below. Short-term support of $5, below the second target near $18, and above on the 19th. $5 a line.