Dollar continues to depreciate and gold rises to 3-month highs gold concept stocks rise

Every press from Shanghai United States dollar continued depreciation, crude oil rise to stimulate gold, silver price strong upward.　　Yesterday, the international market spot gold rose to the highest point since February 24 this year, silver climbed to the highest point since last August 8. Jinrui futures analyst Xu Tianhua said the future of the gold price will have to look at the dollar "face."　　Although the dollar will not be ruled out a certain extent of rebound in the short term, but the dollar's long-term weak pattern will support the high gold price operation, the market's inflation expectations will still give a strong support for the gold price. The depreciation of the dollar prompted gold to climb the dollar index in Friday below the 80 support point to the 5-month low, the largest one-month decline since 1985.　　Yesterday the dollar continued to depreciate against the yen, Sterling, Canadian dollar, Australian dollar, Hong Kong dollar and New Zealand dollar, with only a modest appreciation for the euro, the Swiss franc and the renminbi.　　The weakening of the dollar provides a driving force for commodities, including precious metals and crude oil. Data show that after the success of the 930, 950 pass, the international market yesterday after the opening of gold prices quickly break through the 980 pass. As of 17 o'clock, the maximum rose to 987.90 U.S. dollars. Compared with the May 1 opening price of 885.55 dollars per ounce, one months rose more than 100 dollars to 3-month highs.　　The AU9999 trading price of the Shanghai Gold Exchange has also climbed, with a maximum of 216 yuan per gram yesterday, the highest annual record of 218.50 yuan in February 24. Meanwhile, silver prices in the international spot market yesterday surged to $15.94 a troy ounce, climbing to its highest point in 9 months.　　Shanghai Gold Exchange yesterday's silver T+d business reported a maximum of 3413 yuan per kilogram, the highest level since August 14 last year. Wang Ruilei, chief analyst at Gausair Gold and silver, said that if the dollar fell against the euro, the dollar's gold price would rise even more. "The decline in the dollar has contributed to a rally in gold, but the rebound does not necessarily depress gold prices" or become a trend at the end of the 2 quarter.　　Gold is expected to return to a 1000-dollar high in the third quarter. Gold and silver price long-term bullish Wang Ruilei on the June Gold gave a buy and hold the proposal. "The cut in South Africa, the return of Indian buyers to the market and the approximate $600 per ounce of production costs are just one step away from the all-time highs," he said. Li Zi, an analyst at Haitong Futures, believes that the short-term gold market is still a speculative factor, with too many irrational factors making the gold price face a sharp correction at a later stage. But she remains bullish on medium-and long-term gold trends, with "loose monetary policy and continued infusion of liquidity into the market by central banks, resulting in inflationary expectations that will support gold prices in the long term."　　"She said that from the historical price, gold and silver prices generally in the 45~55 range fluctuation, and currently in the 65 or so, still higher than normal range, so the earlier price relatively undervalued Silver future will continue to follow the gold trend rise." Jinrui futures analyst Xu Tianhua suggests that there are channels for investors to allocate some silver or platinum in their portfolios. "Since the use of silver in industry is greater than that of yellowGold, in the financial crisis far more than gold, from the historical experience of comparison, once the economic stability, silver will be higher than gold, platinum is also the case. From the long-term perspective, every low buy silver, platinum is a good choice. "Gold investment heat continues to warm up the rise in gold prices led to investment warming." Last week the world's 7 gold ETF positions totaled 1372.19 tonnes, an increase of 1.45 tonnes in the previous week.　　The US Commodity Futures Trading Commission's holdings data show that the fund's net increase of 177308 positions over the weekend was nearly 36.4% higher than the 129991 positions on May 5. Domestically, the Shanghai Gold Exchange's most active trading variety t+d business has recently grown by nearly 60%. SocGen then announced that it would increase the leverage ratio of individual clients ' gold-aut+d products, and reduce the margin from 20% to 15%.　　Deep development, Minsheng Bank and China Merchants Bank, and other banks said that will be through the agency of the Gold Exchange products testing Gold spot deferred delivery products business. The rise in gold prices has led to a rising tide of golden concept stocks. As of yesterday, the gold plate led the Shanghai and Shenzhen Two cities, the increase of 8.85%, of which Zijin mining, Evergrande shares, Shandong Gold are trading, gold approaching trading, close to 84.01 yuan, up 9.49%, Chenzhou mining close to 18.01 yuan, up 6.69%.