Precious metals week review: non-farm struck gold waiting for broken bits ( 8. 1 - 8. 5)
precious metals is given priority to with concussion partial rise this week, news fundamentals is not obvious, mainly is the long push up, waiting for non-agricultural market report, before the arrival of early digest British interest rates is good.
recorded by draft spot gold to 1363. 75 dollars, Bai Yinlu 20. $37, platinum last at 1162. 01, 99 domestic gold close at 292. 18 yuan/grams, gold closed at 291 95. 85 yuan/grams, platinum 95 closed at 263 yuan per gram.
2, relevant market analysis,
1. Peripheral market
market risk sentiment this week have the upper hand, the mixed data, make the prices fluctuated violently. Spot gold whole near a $1350 range, and beauty refers to the basic positive correlation between.
poor stock performance this week, the data surface is not strong, cannot support the stock market rise quickly, but the late popularity to rise, and negative correlation between gold.
the recent crude oil under the control of the influence of high inventory and show weakness, and then reported Cushing, oil bulls finally released the opportunity, sharply push up the price of crude oil, and present the positive correlation relationship between the gold.
2. Fund positions trend
by August 4, 2016, the world's largest Gold fund SPDR Gold Shares Gold holdings to 973. 21 tons, increase 15 last weekend. 11 tons. On the whole body is given priority to with overweight, according to agency for short-term gold is optimistic.
in the same period, Silver Silver fund Trust ( SLV) Silver holdings to 10911. 57 tons and 35 tons last weekend to increase relatively. Recent silver sharply increased its stake, or flat, institutions for silver prices carefully.
3, market inventory
on August 4, the bank of England's monetary policy meeting, the benchmark interest rate by 25 basis points to 0. A record low of 25%, this is the bank of England start cut interest rates for the first time in seven years; And will be making further easing policy.
4, a Zhou Chongyao future events and data
the world gold council released on August 9, in the second quarter of 2016 the gold demand trends report
in July on August 12 on PPI rate ( %)
5, and to the rich treasure
PPI data set released next week, other less risk events, expect gold is given priority to with technology to sort out. Currently existing pressure previous high of $1375, the market risk sentiment is good, gold price pressure. If can break above the $1375 on the line, can further see near $1390.
brewing in the silver market rally, currently around $20 a stalemate, the next week if the data generalization, silver is also expected to have rise space, above the target near $21.