gold fold prediction
Asia Pacific time Friday (October 14th ) at midday, the international spot gold rose above $1670, market attention later today to the parliament of Italy held a vote of no confidence and the weekend of the group of twenty ( G20 ) central bankers and finance ministers meeting.
Beijing time is 14: 40, spot gold was reported 1671.30 U.S. dollars / ounce, spot silver reported 32.05 U.S. dollars / oz..
Although the standard & Poor’s ( Standard and s Poor” ) announced that Spain will long-term credit rating of a range of commodities, but has not affected.
From Singapore said a trader,The special plastic
that lasts for the eurozone sovereign debt crisis, the market ‘s psychological line of defense has built very high.
The trader said, the market has been credited to a large number of around the European debt crisis risk factors, risk premium has been consumed, investors have been hoarding cash.
Investors are concerned about this weekend in France at the Paris G20 central bankers and finance ministers meeting. Then the officials will explore how the rapid resolution of sovereign debt crises.
UBS ( UBS ) announced the change 2011 gold fold prediction, from $1665 down to $1615, but maintained 2012 estimated at $2075.
Its core idea is, the macroscopical economic situation is disappointing, eurozone sovereign debt crisis will inevitably worsen, enterprise, consumer and investor confidence slump, will lead to gold increasingly as resistance market line.
Recently there are gold in gold, Shandong gold and other companies through additional directional way to raise funds for the acquisition of mineral rights, the brokerage said this is conducive to the improvement of the competitive advantages of enterprises, ester plastic
their second half performance may exceed expectations.
In addition, gold has a plate in the other precious metals dilute mineral resources advantage company also favors. The country gold negotiable securities issued 10 non-ferrous metals industry research that continues to look at space, nonferrous metal, believed that the short-term still down space is greater than the upward space, to circumvent the proposed including basic metal, metal, the choice of macro effect of lesser metals and new materials, may be concerned about the recent price of tin rapid rebound,setting plastic so the investors are advised to focus on mining stocks.
Another broker studies the analysis thinks, as the mining of antimony products business in the integration of upstream and downstream, breed and expand, at present its antimony goods business on growth performance has been beyond the gold business, may become the future of the company ‘s biggest anticipation.