The prices for other precious metals such as silver and Platinum, have also before recently rose to analysts call a flight to quality, when uncertainty about the economic and political Outlook in assets sends investors, the most secure his are perceived.
"We see a perfect storm for gold and silver prices," said Robin bhar, a senior metals analyst in London for the French Bank Credit Agricole.
There is a long list of factors that have supported the price of precious metals in recent weeks. It includes worry about the sustainability of the European debt and whether countries such as Greece will soon by default; the weaker dollar; rising inflation in many parts of the world; continuing unrest in North Africa and the Middle East, which has pushed up oil prices. and concern about the US budget, which also fear in global stock markets early in the week stirred.
Stocks recovered some Wednesday after the strong earnings reports investor confidence restored, analysts said.
Other factors that help, precious metals include the building of the early autumn wedding season in India, during the family gifts of gold on brides complex; the long-standing lack of skilled workers and equipment at certain mines; and the increase in the number of mutual funds invest in gold.
The popularity of gold-based exchange-traded funds has facilitated driven trade prices for the underlying metal by more investors in gold.
Each share in a gold exchange traded fund is part of the buying of futures of an ounce of gold bullion, but it comes without the inconvenience of holding the metal or the risk and options. Before such funds became popular in the last ten years, who wanted to invest in gold had to buy gold jewellery, coins or bullion - and the high safety and cost. You could also shares of gold mining companies invest in - more a middle of the rivers length exercise - even though the cost of investments in these companies also recently has increased.
In addition to favoured by demand for the underlying metal, paper gold and Silver Futures, which are contracts as an attractive replacement for seen increased investment, given the fact that they can be exchanged for a physical product.
"Gold sometimes a currency, sometimes a commodity and as a store of value is sometimes" wrote analysts at Merrill Lynch recently.
Gold for June delivery rose as high as $1,506.50 an ounce during trading in New York on Wednesday before he to $1,498.90, a gain of $3.80 a day. It was the first time that gold $1,500 level had violated.
While the nominally highest level representing the inflation-adjusted price was higher in the early 1980s, when it was well over $2,000 in current dollars.
Also on Wednesday, prices increased by silver. Silver for may delivery climbed 1.2 percent to $44.46 an ounce in New York, after which rise as high as $45,40, the highest price since 1980. One Troy ounce is 31.1 grams or ounces 1.1.
Even though gold prices will remain probably volatile and susceptible to retreat as investors to take profits on their gains, some analysts are ready to bet on a sharp turnaround in the near future. "Increase as increases, we see the purchasing power of workers in emerging markets demand for gold as a commodity in the next few years" the Merrill Lynch report has said.
In a research note a gold futures price of $1,690 published Friday Planzahl model Goldman Sachs ounce in 12 months, mainly on the assumption that the Federal Reserve stimulus policy known as quantitative easing, continued driven interest rates would keep in the United States, Strengthening demand for the metal as an investment.
The market for silver, which Mr bhar of Crédit Agricole "poor man's gold" described as one, is far more than gold illiquid. Mr bhar said several hedge funds "in the last few sessions have higher was bullying" appeared. Prices of Palladium and also climbed.
Less valuable base metals such as copper, Tin, aluminium and zinc, which are used in large quantities in construction and heavy industry, have mounted since last year, after a decline during the financial crisis.
But among these were, there more differences, according to Jim Lennon, head of commodity research for Macquarie Securities in London.
Markets for raw materials such as coking coal to the steel, iron and copper to make were close, he said accumulation of producers and the concern about output, driven by inventory bottlenecks in mines in Africa, Chile, Australia, Brazil, China.
For other base metals like aluminium, zinc and nickel supply and demand seem better adapted, he added.
Overhanging stayed many of these markets question of China, and whether the roaring economy can cool down soon. Many metals traders and analysts had issued to China observers of the economic data from this country and study collections of shares in Chinese camps bent. In the first quarter, China's economy advanced 9.7 percent compared with the previous year.
Investment and consumption in China have remained robust despite the efforts of the Government to growth through interest rate hikes and curbs on bank lending tempering.
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