The price of a new six-week new gold gradually into the commodity market new favorite

This newspaper map synthesis/Yin Jian after one months of turbulence adjustment, the international gold price appears upward breakthrough momentum. 18th, New York and Shanghai Gold both hit a six-week high, of which the New York phase Gold station on the 930 dollar/ounce mark.　　Position data show that some of the funds began to return to the gold market often analysts believe that with inflation worries and risk aversion again warming, gold is expected to become a new "darling" of the commodity market. The "rare" increase in positions appears in just two weeks, New York June gold rose 50 dollars/ounce, or more than 7%. 18th in the Asian period electronic trading, the New York phase Gold station on the 930 Dollar Pass, the Shanghai Futures Exchange December Gold close also exceeded 204 yuan/grams, closed to 204.53 yuan/grams, both reached a six-week high.　　It is noteworthy that both domestic and foreign gold futures positions are "rare" increment, showing that the money favored by gold. Although the world's largest gold fund SPDR not significantly new positions, to 15th the fund's gold holdings of 1105 tons, but the New York period gold and Shanghai gold period has increased significantly in recent positions. The US Commodity Futures Trading Commission (CFTC) data showed that the total Comex gold futures had increased from 341461 to 359517 in the week ended May 12, with speculative bulls increasing 13016 to 184509 and commercial shorts increasing by 13459 to 255341.　　The net long position is 171180, reach 47.61% of the total position. "There has been a rise in tens of thousands of empty positions, a phenomenon that is ' rare ', indicating a new funding intervention," said one analyst at Datang Finance. Not only that, the recent increase in gold futures positions in the last period is also quite obvious, as at 18th, the previous period gold futures positions amounted to 42410 hands. Since the beginning of May, the increase has exceeded 40%. Analysts believe that as markets begin to worry that inflation may be heating up, some funds are starting to favour gold, a market that favours gold, and there is reason to be in the industry's view that, in addition to inflation worries, safe haven demand and the potential for central banks to increase their reserves are the reasons for capital preference for gold investment The April CPI data, released 15th, showed an annual decline of 0.7% per cent, the lowest level since June 1955 and the decline in industrial output in April. Meanwhile, the euro zone's first-quarter gross domestic product (GDP) quarterly rate shrank by 2.5% per cent and an annualised contraction of 4.6%, the biggest decline in 1995 years, according to Eurostat.　　Analysts say the figures are a huge strain on the market, and risk aversion is rising sharply. In addition, gold has become one of the preferred targets for many investors and central banks. In addition to China's recent announcement of an increase of 454 tonnes of gold, other countries are also increasing their gold reserves appropriately. At the Lujiazui forum held in Friday, Zhenglianghao, managing director of the World Gold Association Far East, said Germany and Switzerland had not seen their preference for gold for more than 20 years., both countries increased more than 100 tonnes of gold reserves in 2008. Up to now, China's central bank gold reserves accounted for about 1.5% of the total foreign exchange reserves.　　President of China Gold Association, Sun Chaoxue, general manager of China Gold Group, said at Lujiazui forum that the proportion of gold in the structure of China's foreign exchange reserves is still low, should reach 3%-5% or 10% better, which is beneficial to the strong financial system in China, and helps to make RMB play a greater role in regional currency. Since the financial crisis, governments have been injecting liquidity into the market to restart the "engine" of economic development. In this case, Zhenglianghao worried that "I want to launch the engine" if not, future inflation may be inevitable.