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Precious metals week review: gold a temporary reprieve shock shock ( 10. 10 - 10. 14)

by:Deyuan      2020-12-23
This week, the federal reserve meeting minutes content to play a role in the gold market is limited, the slump has negative energy basic market, the current gold enter sideways is also expected.

a, precious metals market review

this week, the federal reserve meeting minutes content to play a role in the gold market is limited, the basic market slump has made negative energy, the current gold enter sideways is also expected.

recorded by draft spot gold to 1256. $26, Bai Yinlu 17. Us $53, platinum last at 932. Close at 272 $5, 99 gold. 8 yuan/grams, gold closed at 272 95. 7 yuan/grams, platinum 95 closed at 216 yuan per gram.

2, relevant market analysis,

1. Peripheral market

the market expected relatively optimistic for the U. S. economy, and the federal reserve officials have repeatedly expressed support for raising interest rates, optimism pushed up beautiful rose, beauty refers to show particularly strong this week, but the beauty of strong means does not bring gold further bearish, the gold market is also showing a short power release. Gold prices mainly basic range. This week between the two relatively independent movements.

this week, crude oil is given priority to with wide range of trends, by the American interest rates expected to promote, 51 crude hit a year high. Around $6, but considering the high crude oil inventories, crude oil rose space is limited, and the price is relatively ideal, can consider to bull underweight.

while U. S. stock performance is not very good, this is also very intuitive reflect the U. S. economy is not very optimistic, confirmed we can in the medium term bullish gold point of view.

  2. Fund positions trend

as of October 13, 2016, the world's largest Gold fund SPDR Gold Shares Gold holdings to 961. 57 tons, a modest increase in 2 last weekend. 67 tons. Gold this week basically is given priority to with flat, broken after a fall of gold now enter a state of shock, institutions mainly wait-and-see attitude temporarily.

in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 11232. 97 tons, a slight increase over the week 26. 57 tons. The same basic maintain position flat silver fund this week, for short to medium term silver price is not enough.

3, market inventory

the FOMC meeting minutes in September, a few members think interest rates will quickly come, hawkish members worry delay rate may lead to economic recession. However, how long to wait before to raise interest rates, so that the job market and further improve on the issue of inflation, the fed still exist great differences.

4, a Zhou Chongyao future events and data

October 20, the fed's beige book release economy; Democratic presidential candidate Hillary rodham Clinton ( 希拉里•克林顿(Hillary Clinton)) With the republican presidential candidate trump ( 唐纳德·特朗普) For the third presidential election debates.

5, and to the rich treasure

1. Gold

or more U. S. economic data next week, but the presidential campaign continues to roll on, now Hillary Clinton majority support. And Mrs Clinton won less effect on the gold, within the market expectations. Considering the economic situation in the United States, in the medium term we continue bullish on gold. The market next week is expected to price is expected to be a small technical rebound, above the target temporarily see near $1290.

  2. Silver

the basic similar to the shape of the silver and gold, and now the precious metals market is particularly sensitive in the fed's policy, then become a high-risk varieties of high benefit. Optimism needs the support of the data of the U. S. economy, and the current market expectations of interest rates to a large extent a bit affiliate panic. We are better for interim silver expectations, empty single silver next week, too. Support below $17 on the line, above 18 rebound goal. Around $5.
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