Yesterday, the Shanghai-opening 169.2 0812 gold contract, highest 169.9, minimum 168.5, representing a decrease of $ 3.95/g, 2.29%, low sideways vibrations throughout the day, close to $ 168.82/g. Recently, gold both inside and outside of the key technical support level divisions fall, the industry believes that can confirm the gold bear market has arrived.
In addition, gold consumption seasonal peak season is approaching, analysts believe this could lead to a short-term rebound in the gold price, rally can continue after short.
Golden fall of key technical support level
Gold low point is not supported on price formation in the early August 15, Hu-0812 gold contract on September 10 empty low opening jump directly, dipped below $ 175/g the key technical support grants for small business owners level, gold prices continue to plunge yesterday, Shanghai-0812 gold contract opening Gap directly to under $ 170/g. International Futures analyst Zhan Jungui believes that technical break the official declaration of the establishment, within the short term, gold will not recover quickly and effectively if the foreign disk $ 800 technical mark, gold can be sure you have entered a bear market. Zhan Jungui believes that gold consumption season fast approaching, this may result in short a brief rebound in the gold price.
Reasons for the fall beauty break 80
Dollar index rallied as the Rainbow, even g 78, 79, large integer mark, gold prices crashed dive, eurozone economic downturn is the root cause of the dollar soared. EU cut its 2008 growth in the eurozone, exacerbated investors fears of eurozone recession, and EU officials believe the euro interest rate is still overvalued. Euro exchange dollars are load-bearing cast, as of yesterday had a year to gain the full erase. Investor risk aversion, began buying dollars, causing the dollar hit a new high for year, capital outflow of commodities markets, government grants for small business gold is no longer run by investors.
Gold price shocks will be enlarged
United States Government to take over "two beautiful", aftermath has not calmed down, the market came news of possible bankruptcy of Lehman Brothers. Lehman bankruptcy liquidation if what?
Zhan Jungui believes that dollars even if adjustments is small business grants for women technical. He said: "even if bankruptcy liquidation of Lehman Brothers, nor allow depreciation of the dollar again substantially, the dollar is now basically stable, only technical adjustments may exist. "He also believes that crude oil prices have continued down the integer $ 100/barrel the ability to mark, gold shocks will thus continue federal grants for small business to be magnified.
Lehman Brothers may bankruptcy
On Wednesday, Lehman Brothers released the quarterly report, third quarter loss of us $ 3.9 billion, loss per share of $ 5.92, while the dividend for the current fiscal year downward from $ 0.68 to $ 0.05. Lehman Brothers will be the second bear? Market set tongues wagging in time. According to Bloomberg on September 10, the relevant staff of the Federal Reserve said, after the Bear free small business grants Stearns bankruptcy, the Fed has launched the "primary dealer credit facility" (PrimaryDealerCreditFacility) project, loan assistance for the troubled financial companies. This may ease the pressure, Lehman can continue operating, but cannot find a grants for starting a small business way to get out of trouble if Lehman, the only temporary emergency assistance project.
Revaluation-induced gold weak in foreign
Reporters also noted, from the fall of view, both inside and outside was not very consistent. $ 1032.55/ounce bullion from the highest point begin to fall, lowest at 14:57 yesterday to see $small business grants 749.45/ounce, decreased 27.42%government grants for small business Shanghai gold exchange Shanghai 9,999 $ 234.3/g began to fall from the highest point, lowest at 14:57 yesterday to see 166.88/gram, decreased 28.78%.small business grants
For slightly larger domestic gold price decrease in this, analysts Zhan Jungui think this is normal, belonging to reflect the effects of the appreciation of the Renminbi. He said that gold 0812 theoretically if short period on the contract, long on 0812 contract in New York, are typical of the Renminbi arbitrage, maybe this can be explained by reason.
