Qingdao International Nonferrous Metals Handling Fee Margin Consultation

Qingdao International Nonferrous Metals Trading Center, phone QQ: membership recruitment, agency, account opening, investment, high rebate Qingdao International Platform Information For some time, the price of gold has gradually broken out of the downward channel, and has gradually attracted the attention of more and more investors. First of all, from the perspective of the evolution of the economic cycle and the attributes of gold, the commodity attribute of gold will gradually give way to the reputational hedging attribute in the future. Secondly, economic fundamentals and risk appetite do not have the basis for continuous improvement, and there will be downward pressure on the economy and worries in the future. The third and fourth quarters will continue to grow as the period of high incidence of global political and economic risks, and the volatility of the global resource market will increase significantly. So, once again we have our say: When is it legal to invest in gold?
Let’s first look at the long-term trends. By analyzing the fluctuation patterns of the gold market within the long cycle, we found that from a medium- to long-term perspective, the actual movement of gold prices is basically consistent with the trend of commodity production capacity cycles represented by oil, gas and metals. That is to say, in the medium to long term, the commodity attributes of gold are released driven by purchasing power factors. Driven by the commodity attributes, the price of gold follows the regular operation of the commodity production capacity cycle, and is still subject to rising prices in the long-term trend. Shape. We believe that the driving force of purchasing power factors is an important reason why gold’s commodity attributes are released in the medium term. Discussions on the purchasing power of gold usually focus on two levels: first, the changes in price levels brought about by the overall fluctuations in the prices of energy, metals, agricultural products (, stock bar), and industrial raw materials; second, the level of global excess liquidity. . Therefore, from the above two aspects, gold has the foundation for a medium-to-long-term rise.
Let’s look at the short-term operating characteristics of gold prices. The direct impact of short economic cycles on the price of gold is not obvious. From the perspective of the evolutionary logic of economic fundamentals, the upward period of the inventory cycle is accompanied by the recovery of physical demand, the rise in inflation, and the restoration of risk appetite. Therefore, the trend of metals representing industrial demand and risk assets is relatively stronger. Once the inventory cycle runs At the highest point, after the real economy starts a downward trend, driven by declining demand and risk aversion, gold's performance relative to metals will become even stronger. The cyclical fluctuation pattern reflected by the gold-to-metal ratio at the inventory cycle level shows that the core factor that determines the relative returns of gold assets in the short term is global risk appetite. Market risk aversion and negative expectations have a significant impact on short-term fluctuations in gold prices. This is also an important reason why the price of gold has recently broken out of the downward channel.
The fourth quarter is usually the time when major international economic and political events occur. Let us predict some important events that may affect the price of gold in the fourth quarter.
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