Precious metals week review: interest rates back to the golden moment to callback risk ( 5. 16 - 5. 20)
a, precious metals market review
the market prices a week summary
April federal reserve meeting minutes policymakers believe that if the economy continues to improve, to raise interest rates again in June will be possible, it promoted the rise in the dollar index, to general commodities, including precious metals under pressure. On Wednesday and Thursday after two consecutive trading day sharply lower, this dish in the gold price fluctuation is not big, now the basic steadied above $1250. Spot silver weaker this week, yesterday fell below the lower edge of the recent shock interval 16. 7 a line, below the initial support at 16. $3.
recorded by draft spot gold to 1255. $21, 16 Bai Yinlu. $55, platinum last at 1019. Close at 264 $57, 99 gold. 59 yuan/grams, gold closed at 264 95. 00 yuan/grams, platinum 95 closed at 229. 00 yuan per gram.
1 second, the relevant market analysis. Peripheral markets
good beauty refers to rally this week, the meeting minutes of the fed's hawks said June rates possibility is very large, beauty refers to the rising optimism, strong and beautiful refers to the heavy blow to the precious metal prices, precious metals prices show weakness, beauty means is negatively related to the gold also has a good relationship. If U. S. economic data continues to improve, the United States refers to the upside, there will be negative for gold and silver prices lower.
this week, crude oil better, although beauty is refers to a strong, but not affected by the previous Canadian wildfires caused by insufficient supply of crude oil continues to support oil prices high, this year's performance overall preference of crude oil.
the market worried that the fed to raise interest rates in June, higher interest rates would curb inflation, hinder economic expansion, reduce the stock liquidity, U. S. stocks lower. And this week linkage between stocks and gold is not obvious.
2. Fund positions trend
on May 19, 2016, the world's largest Gold fund SPDR Gold Shares Gold holdings to 860. 34 tons, 9 increase from last weekend. 21 tons. In the last three weeks, although the gold, but gold ETF fund holdings are basically is increasing every day, has been at the highest level since November 2013, the recent gold prices to remain high range-bound provide certain support. But recommend careful operation, the recent dollar continued to be strong on the gold market is very bad.
in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 10421. 95 tons, the basic remain unchanged over the weekend. Inventory
3, market the fed on Wednesday (May 18, On May 18) Released April meeting minutes, showed that most of the members agree that if economic conditions allow, to raise interest rates in June is possible.
May 19, as of May 7, the week, claims for jobless benefits, an increase of 20000 a seasonally adjusted to 29. 40000, the highest since late February 2015
the next Zhou Chongyao events and data on May 23, 2016, the committee vote appoint, and st. Louis fed President bullard will address the U. S. economy and monetary policy. On May 25, the United States
real GDP in the first quarter season annualized rate revised
5, and to the rich treasure
gold fell to $1250 the key position, and news light next week, June, if interest rates expected continued fermentation, gold could break a decline, continue to see below near $1220. If long to return to the market, it is expected to recover from. In the medium term, we have gold is still optimistic. Operation can meet the callback on average, hold for a long time.
silver silver has three consecutive weeks, 16. $3 a line support is relatively weak, although we are bullish on mid of silver, but no way to prevent silver siege to raise interest rates expected in June. Next week we recommend buying is given priority to, below support correction to 15. Around $6.