Under the influence of the continuing economic downturn in the United States and the temporary suspension of the US quantitative easing policy, the international gold trend experienced “Waterloo†in September, and the price of gold fell deep and fluctuates.
At the time when the people celebrated the National Day, the international rating agency Moody's downgraded the Italian sovereign debt rating, and the outlook was negative. This means that the European debt crisis has spread to important economies in the euro zone, and the crisis atmosphere has become increasingly strong. In this context, last week the gold market has been in the process of finishing sideways shocks, the lowest international gold price dropped to 1590 US dollars an ounce, a new low since September. Affected by this, during the "11" period, the Shenyang gold market also experienced major fluctuations. The major gold stores that have been “stretched†and refused to cut their prices have finally been unable to hold off during the “11†period. They have been greatly discounted and the price of gold has declined. Some gold jewelry gold jewelry even dropped 60 yuan per gram, reaching 398 yuan per gram.
The whole family buy more than 400 grams of gold jewelry to buy gold necklaces also buy? Yes, Shenyang citizen Gaoyou bought 4 gold necklaces during the National Day. The reason is that "gold is cheap."
On the afternoon of the 8th, the reporter met Gao Xing at the Xinglong Family Gold House in Zhongjie Street. She was trying to wear a 107-gram gold necklace. Her mother, nephew and sister were on the side as staff officers. She finally chose a piece of 44,483 yuan. Necklace. What the reporter did not expect was that after seeing several relatives on the side, they found it very cost-effective. They also bought three identical necklaces for a total of nearly 180,000 yuan.
At the Chinese gold counter at Taiyuan Street, the price of 1,000 yuan appeared to be a long-lost “3†prefix, which was 398 yuan per gram. The reporter learned that just before the “11,†the price of the gold shop had reached 458 yuan per gram, and a 60 yuan drop in the short term was rare.
First-line brand gold prices and local brands in line with the current decline in gold prices gave birth to a phenomenon that is the first-line big brands take the initiative to adjust prices and move closer to local gold brands. The most representative is that Zhou Dafu, Zhou Shengsheng, and Liu Fu Jindian gold jewelry are all 418 yuan per gram, which is 6 yuan less than the thousand gold per gram of local brands. In August, when the market price of Shenyang was at a high of 450 yuan, the 1,000 yuan for the three stores was 473 yuan.
According to industry insider Wang Xiaoshu, it is mainly due to the closer linkage between front-line international brands and international gold prices.
The prices of platinum and gold are still upside down. This year, the price of gold has risen more than 30%, far more than platinum, which has only risen by 5%, and there has been an upside down. At the Chinese gold sales counter, sales staff said that recently gold has been sought after, and their platinum diamond ring sales are not as good as last year. “In previous years, many new couples would choose platinum rings or necklaces, but this year, as the price of gold has been rising, many newcomers have turned to gold jewelry.â€
According to statistics, the price of gold and platinum was reversed from the financial crisis that occurred in 2008. At that time, the prices of platinum and gold both declined, but platinum fell more violently. In a period of time, the price of platinum is lower than that of gold. This year’s The phenomenon of inversion was repeated on August 9 and was frequently performed thereafter.
Expert point of view: The sharp drop in the price of gold is a break or an inflection point?
Willi Gold Chief Analyst Yang Yijun: There is no change in the macro market fundamentals supporting the current gold bull market, and there are even signs that fundamentals support further strengthening. However, the short-term hedge concept seems to weaken the support function of the gold market. The market generally tends to recover liquidity, which poses pressure on the entire financial market. The gold market is no exception. Therefore, although the sovereign debt crisis will continue to inspire concern about the gold market in risk aversion, it is difficult to get rid of the dilemma of recovering liquidity that is encountered in the phased market. From this perspective, although the fundamentals of the gold market have not changed, gold has not yet had the conditions for launching a rally in the short term.
Wang Zhuo, Senior Analyst, Shenyang International Sales Department, China International ** Co., Ltd.: The current state of gold can be summarized as sideways after the previous crash. At present, it is still not possible to judge whether the future price of gold will be in a slump. It is necessary to look at the gold movement in the second and third weeks of October. If the price of gold continues to fall during these two weeks and eventually falls below the monthly limit, then there may be a continued decline in the price of gold. The best choice for investors at this time is to wait and see. Do not blindly enter the market and wait for the situation to gradually enter the market after two weeks.
At the time when the people celebrated the National Day, the international rating agency Moody's downgraded the Italian sovereign debt rating, and the outlook was negative. This means that the European debt crisis has spread to important economies in the euro zone, and the crisis atmosphere has become increasingly strong. In this context, last week the gold market has been in the process of finishing sideways shocks, the lowest international gold price dropped to 1590 US dollars an ounce, a new low since September. Affected by this, during the "11" period, the Shenyang gold market also experienced major fluctuations. The major gold stores that have been “stretched†and refused to cut their prices have finally been unable to hold off during the “11†period. They have been greatly discounted and the price of gold has declined. Some gold jewelry gold jewelry even dropped 60 yuan per gram, reaching 398 yuan per gram.
The whole family buy more than 400 grams of gold jewelry to buy gold necklaces also buy? Yes, Shenyang citizen Gaoyou bought 4 gold necklaces during the National Day. The reason is that "gold is cheap."
On the afternoon of the 8th, the reporter met Gao Xing at the Xinglong Family Gold House in Zhongjie Street. She was trying to wear a 107-gram gold necklace. Her mother, nephew and sister were on the side as staff officers. She finally chose a piece of 44,483 yuan. Necklace. What the reporter did not expect was that after seeing several relatives on the side, they found it very cost-effective. They also bought three identical necklaces for a total of nearly 180,000 yuan.
At the Chinese gold counter at Taiyuan Street, the price of 1,000 yuan appeared to be a long-lost “3†prefix, which was 398 yuan per gram. The reporter learned that just before the “11,†the price of the gold shop had reached 458 yuan per gram, and a 60 yuan drop in the short term was rare.
First-line brand gold prices and local brands in line with the current decline in gold prices gave birth to a phenomenon that is the first-line big brands take the initiative to adjust prices and move closer to local gold brands. The most representative is that Zhou Dafu, Zhou Shengsheng, and Liu Fu Jindian gold jewelry are all 418 yuan per gram, which is 6 yuan less than the thousand gold per gram of local brands. In August, when the market price of Shenyang was at a high of 450 yuan, the 1,000 yuan for the three stores was 473 yuan.
According to industry insider Wang Xiaoshu, it is mainly due to the closer linkage between front-line international brands and international gold prices.
The prices of platinum and gold are still upside down. This year, the price of gold has risen more than 30%, far more than platinum, which has only risen by 5%, and there has been an upside down. At the Chinese gold sales counter, sales staff said that recently gold has been sought after, and their platinum diamond ring sales are not as good as last year. “In previous years, many new couples would choose platinum rings or necklaces, but this year, as the price of gold has been rising, many newcomers have turned to gold jewelry.â€
According to statistics, the price of gold and platinum was reversed from the financial crisis that occurred in 2008. At that time, the prices of platinum and gold both declined, but platinum fell more violently. In a period of time, the price of platinum is lower than that of gold. This year’s The phenomenon of inversion was repeated on August 9 and was frequently performed thereafter.
Expert point of view: The sharp drop in the price of gold is a break or an inflection point?
Willi Gold Chief Analyst Yang Yijun: There is no change in the macro market fundamentals supporting the current gold bull market, and there are even signs that fundamentals support further strengthening. However, the short-term hedge concept seems to weaken the support function of the gold market. The market generally tends to recover liquidity, which poses pressure on the entire financial market. The gold market is no exception. Therefore, although the sovereign debt crisis will continue to inspire concern about the gold market in risk aversion, it is difficult to get rid of the dilemma of recovering liquidity that is encountered in the phased market. From this perspective, although the fundamentals of the gold market have not changed, gold has not yet had the conditions for launching a rally in the short term.
Wang Zhuo, Senior Analyst, Shenyang International Sales Department, China International ** Co., Ltd.: The current state of gold can be summarized as sideways after the previous crash. At present, it is still not possible to judge whether the future price of gold will be in a slump. It is necessary to look at the gold movement in the second and third weeks of October. If the price of gold continues to fall during these two weeks and eventually falls below the monthly limit, then there may be a continued decline in the price of gold. The best choice for investors at this time is to wait and see. Do not blindly enter the market and wait for the situation to gradually enter the market after two weeks.
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