The international gold price plummeted, dragged down by the European debt crisis and the unsatisfactory macro data of the United States. The international gold price plummeted, risk aversion regained its dominant position, and risky assets fell across the board, resulting in the only four consecutive yin in the international gold price since May 5, 201/kloc-0. International gold prices fell sharply. The main gold futures contract for new york Comex 65438+February delivery fell by 2. 1 1% in intraday trading, down by $34.70 per ounce, reported at $ 16 12.30 in intraday trading, with the lowest drop to $ 1606.80.
The Beige Book released by the Federal Reserve shows that the economic growth in the United States was weak in September, the economic outlook continued to be bleak, and the labor market remained almost unchanged. The beige book report, which is more pessimistic than before, quickly aroused the market's concern in a short time, which is the main driving factor for the decline of US gold, a pseudo-safe haven asset. International gold prices plummeted.
In addition, the European debt crisis is still foggy. Under the influence of rumors that the EU summit may not make significant progress this Sunday, the euro zone is under great pressure. Further suppressing this sentiment is the rumor that the European Cup ended on October 20, 2065438+02/KLOC-0. It is rumored that European leaders may postpone the summit on 201210/0/23 October because they can't reach a consensus on how to use european financial stability facility's funds. International gold prices plummeted.
The market had hoped that the EU summit on Sunday could reach an agreement on EFSF, which would help stabilize the debt crisis in the euro zone. However, if the summit is really postponed, the market risk aversion will regain the upper hand, the US dollar index will rise again, the international gold price will plummet, and the gold price will be suppressed again.
It is worth mentioning that the economic fundamentals of the euro zone have also failed to improve. The international gold price plummeted, which was announced by the European Union on 20 12/0/0. In June of 20 12, the initial value of consumer confidence index in the euro zone fell to-19.9%, which was the fifth consecutive month of decline.
10 year 10 On October 20th, the European Commission announced that the initial value of the consumer confidence index in the euro zone in June was 5438+00, which decreased from-19. 1% in September to-19.9%. Economists surveyed had predicted that the index would drop to -2 1.0% in June.
Preliminary data show that consumer confidence in the euro zone continued to weaken by 5438+00 in June. Due to the lingering shadow of the debt crisis in the euro zone, a number of data also highlighted the economic slowdown in Europe.
The international gold price hit a low point.
During the Spring Festival, domestic gold futures, deferred delivery and other varieties were suspended, while the international gold market continued. Last week (February11-February 17), the international gold price plummeted from $0/680 per ounce to $0/610, the lowest level in half a year.
It is understood that on February 14, the fourth quarter GDP growth rate of 20 12 announced by the euro zone was -0.6%, and the year-on-year growth rate was -0.9%, which was the worst performance since the third quarter of 2009. This news suppressed investors' confidence in the European economic recovery and the euro index. At the same time, it is reported that the finance ministers and central bank governors of G20 countries around the world will issue a statement to curb central banks' continued monetary easing. This news greatly reduced investors' safe-haven demand for gold and curbed the rise of gold prices.
Under the guidance of various unfavorable news, the international gold futures and spot prices both fell sharply last week, from about 1 1 USD on February 0 to1USD closed on Saturday. Converted into RMB, the price per gram drops by more than 14 yuan, and the current price is about 32 1 yuan per gram.
According to a senior gold investor, during the Spring Festival holiday, commercial banks continued to trade paper gold, which was most closely related to the international gold price. From August of 20 1 1, international gold basically kept fluctuating between 1600- 1800 USD per ounce, and the price in 20 12 years was 16 10 USD. Among all kinds of gold investment methods, paper gold has advantages in price and strong liquidity, which is worthy of investors' first choice.