Precious metals week review: June rates into heat affected gold hard up ( 5. 23 - 5. 27)
review, precious metals market price a week summary
market market expectations for the fed to raise interest rates in June continues to suppress the precious metals market, while the dollar index on Wednesday began to fall, but the positive effect on the gold and silver market is not big. To the press, spot gold has seven consecutive trading day down, now running at the end of march to early April 1210 - the bottom of the support area Near 1220. Spot silver reached a previous 16 fell on Tuesday. 1 a line after the goal, the price is in a slightly stabilizing, but silver yesterday rushed to 16 high. Back the $5, or to make short-term silver renewed admission bearish signal.
recorded by draft spot gold to 1220. 16 $51, Bai Yinlu. $29, platinum last at 992. 68 dollars, the domestic gold close at 258 99. 5 yuan/grams, gold closed at 258 95. 00 yuan/grams, platinum 95 closed at 224. 00 yuan per gram.
1 second, the relevant market analysis. Peripheral markets
beauty refers to blunt their highs this week, performance is not very good, but it is still subject to the influence of the rate hike, gold step by step, no obvious correlation between the two this week.
the current performance of crude oil is better, short-term average index and optimism, and rose slightly above the space, and negative correlation between gold.
stocks from last week's weakness, rising momentum this week, thanks to the recent economic indicators is ideal, optimism dominated, also bring negative influence to gold.
2. Fund positions trend
on May 26, 2016, the world's largest Gold fund SPDR Gold Shares Gold holdings to 868. 66 tons, fell 0 at the weekend. 6 tons. Increase since the end of April, the gold fund SPDR on Tuesday started to flow out, suggests that investors in gold afternoon looking to become is not optimistic.
in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 10442. 66 tons, fell 8 last weekend. 87 tons. Concern about the recent increases in interest rates expected in June, gold and silver market weakness, market confidence in the silver is also weakened sharply. Inventory
3, market on May 23, the us department of commerce ( 医生) On Tuesday, On May 24th) Reported that the United States in April, new home sales surged to more than eight years high house prices hit record highs, a further sign of the opening game of the second quarter economic growth accelerated.
initial jobless claims last week May 26, 10000, to 26. 80000 people. After the 49 economists make forecast for 27. 50000 people.
4, a Zhou Chongyao future events and data
May 30, the us, the UK holiday
in the June 1, the United States and Europe manufacturing PMI values, the federal reserve beige book published economy
on June 2nd the euro, the European central bank announced on April PPI rate interest rate decision and ADP employment may speak to Mario draghi, the United States ( Ten thousand people) , Opec oil at 169th meeting
on June 3, the U. S. unemployment rate may, 5 Chinese rose after the non-farm payrolls ( Ten thousand people)
5, and to the rich treasure
gold has been for a week or more range decline trend, short-term bull difficulties want to reverse the situation, continue to focus on the performance of the U. S. economic data next week, if continue to show optimism, adverse to the gold price still. Given the current declines have larger, operational temporary cautious wait-and-see is given priority to, we suggest that short while physical stores can consider to buy a small amount of goods, on-demand replenishment production. Silver
its previous positive momentum has already disappeared, short-term by 60 - day moving average support, but the price of the support is weak, could break at any time a decline, temporary see 15 below target. $6 a line. We suggest that radical operation can buy low.