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U.S. Stocks Hit A Record High, Gold And Silver Staged A Reversal Pattern

2013/5/21 10:44:00 48

Gold Prices U.S. Stocks Gold Prices Rose

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 short back subsidy > a href= "http://sjfzxm.com/news/index_p.asp" > New York < /a > gold price rebounded < 20 > /p >
 New York's gold price ended 20 consecutive days as a result of 7 short trading days. On the same day, the gold futures market on the New York Mercantile Exchange, the most active gold futures in June, closed at $1384.1 an ounce, up 19.4 from the previous trading day, or 1.42%. 
 > a href= "http://sjfzxm.com/news/index_c.asp" > gold price < /a > in the past 7 consecutive trading days, the total dropped 109 US dollars. The latest gold price fell for 8 consecutive trading days in 2009. 
 > a href= "http://sjfzxm.com/news/index_s.asp" > gold market < /a > has been declining recently. Market analysts attributed this to the rise of the US and Japanese stock markets, the continued strength of the US dollar and low inflation expectations worldwide. 
Bernanke, chairman of the US Federal Reserve Committee, will testify on the 22 day of the US economic prospect. The Federal Open Market Committee will issue a summary of the latest policy meeting. P The market forecast that the US economic prospect is good, Bernanke may announce to withdraw from the loose monetary policy. In addition, the US stock market fell on the 20 day, and the weakening of the US dollar also helped the gold price. 
On the day of P, silver futures in July rose 23 cents, or 1.03%, at $22.582 an ounce. Platinum futures in July rose $16.6, or 1.13%, at $1484.6 an ounce. (Xinhua net) 
 gold and silver staged a reversal: gold price rose 2% silver price from 9% to 2% /p
 New York foreign exchange market on Monday (May 20th), international spot gold prices closed higher, ending the longest decline since the financial crisis. In the intraday volatility, gold prices fell by 2% to 2%, while silver prices fell from 9% to 2%. 
 the reason for the rise is .
 traders believe that after a seven day decline in gold, there was a backlog of back-up shorts. They said that during the COMEX period, when the bank opened, they were hit by a huge selling list and plunged more than 9%, triggering technology buying signals. 
"Gold and silver rebounded sharply today, perhaps because gold prices failed to fall below the April low of $1321.50 and the market chose to buy back short sales," said Chintan Karnani, an independent gold analyst, P. 
 up to last Friday, the price of gold fell 109 dollars in the past 7 days. The last time the gold price fell 8 days, it was in 2009. 
"The strong rise in US and Japanese stock markets, strong US dollar and global low inflation expectations are the source of bear market pressure on the metal and raw materials market," said Peter Hug, global trading director of P Kitco Metals Inc.. 
At the close of P, U.S. stocks went down, and the US dollar slipped against other currencies, especially against the yen. 
 position change 
In the week ending May 14th P, hedge funds and other major commodity speculators withdrew $1 billion 400 million from the US gold futures market. 
 the world's largest gold trading fund SPDR Gold Trust on Friday reduced its gold holdings by 3 tonnes to 1038.41 tonnes, the lowest in four years. 
 gold and silver next trend 
"P," said Michael Widmer, an analyst at Merrill Lynch, "the next trend of gold is still weakening. Our goal is to fall to US $1200 in the next few weeks. 
 most analysts also do not think much of silver because of weak industrial demand. 
P McGhee Integrated Brokerage Services, the chief precious metals dealer Frank McGhee, said silver prices may drop by 20 cents an ounce. "I am waiting for the next downturn in silver and may fall to more than 10 cents." 
 last week, the world's largest silver backed listed trading fund iShares Silver Trust's silver holdings decreased by 187.7 tons to 10253 tons, the lowest in 1 months. 
 market focus 
 the market now focuses on the congressional testimony of Federal Reserve Chairman Bernanke on Wednesday and the April open meeting of the Federal Open Market Committee (FOMC). 
 4:26 BJT, the international spot gold price is quoted at 1394 US dollars per ounce. The price of silver is 22.95 dollars an ounce. 
 other precious metals, spot platinum rose 2% to more than $1480 an ounce, rebounding from the earlier three week low of about 1426 dollars. Spot palladium rose 1.4% to above $745 an ounce, opening at a low level of $736.97. 
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