Gold prices rebounded slightly, paying attention to German bond auctions and non-agricultural data

International spot gold on Wednesday (January 4th) European market once again oscillated slightly upwards to 1600 US dollars / ounce, after the strong dollar index pressured the price of gold, while profit-taking also suppressed gold. The market is paying close attention to the Japan-Germany bond auction and the non-agricultural data of the United States on Friday (January 6).

During the day, the euro/US dollar was always under pressure at 1.3043, while the US dollar index was basically stable at around 79.70. Spot gold was under pressure.

On Tuesday (January 3rd), the spot gold price closed above the key $1600/oz, which was the first time since December 26th, 2011, and it was the largest one-day increase since 2.5%.

George Gero, vice president of RBC Capital Markets, has pointed out earlier that if there is a lack of follow-through buying, then gold will suffer from profit-taking and pressure and cause turmoil.

The market is currently concerned about Germany’s auction of a 10-year federal government bond that will be auctioned on 5 billion euros, 2.0% coupon, and 2022 on Wednesday. This is the first German government debt auction in 2012.

At the same time, the market is also waiting for the non-agricultural employment data announced by the United States on Friday, and the market is expected to be good.

According to survey analysts, the US economy expects to add 150,000 jobs in December, up from 120,000 in November.

This will increase employment growth in December by the highest level in three months, further demonstrating that the U.S. economy has improved in the fourth quarter.

George Gero, strategist and vice chairman of gold futures at RBC Capital Markets, said on Tuesday that investors are returning to the gold market.

Casey Research, an investment research firm, also said on Tuesday that the fundamentals that drive the rise in gold prices remain rock solid. Small investors and monetary authorities bought gold in 2011 due to concerns about economic and political factors, and these factors will not change in the short term.

Upright Cotton

Upright Cotton,Non-Toxic 3D Upright Cotton,High-Compressive Upright Cotton,High-Resilience Upright Cotton

Dongguan Guangyao Nonwoven Technology Co., Ltd. ,

Posted on