Gold Prices Rose 1.9% India Yesterday Or Eased Import Restrictions.

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(P) on Thursday, media reports said the leaders of the India Congress party were calling on the government to relax restrictions on the "a href=" http://sjfzxm.com/news/index_s.asp "gold" /a "import". The demand of the big gold consuming countries will soon resume again. The market expected to help the downturn in the two trading days before the reversal of the gold price quickly rose. In addition, the weakening of the US stock market and the weakening of the US dollar exchange rate also increased the attractiveness of the gold investment, pushing up the gold price to the highest level in more than two months, and the main gold contract deal closed at $1262.30 an ounce.

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< p > > a href= "http://sjfzxm.com/news/index_s.asp" > New York commodity exchange /a > February, the main gold contract rose 23.70 dollars on Thursday, closing at 1262.30 US dollars per ounce, or 1.9%.

This is also the highest closing price of the main contract since November 19, 2013.

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< p > media reported on Thursday that "a href=" http://sjfzxm.com/news/index_s.asp "> India" /a "and the leader of the Congress Party Sonia Gandhi (Sonia Gandhi) are asking the government to relax restrictions on gold imports.

"This is a sign that the government will soon relax restrictions on gold imports," said Chintan Karnani, chief marketing analyst at New Delhi's trading consultancy, Kamani. "The spot gold premium in India is falling quickly because of this news."

He stressed that "allowing gold imports in India will be good for gold and silver in the near future."

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< p > the India government has imposed a high import tax on gold, hoping to limit its continued current-account deficit.

"Once the restriction is lifted, the demand for gold will not soon return to the previous level, but at the very beginning, there will be a lot of explosive growth in cumulative demand," said Jan Skoyles, research director of the real asset company of precious metals investment platform supplier, Skou Eells.

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P, another big consumer of gold, China's unfavorable economic data have had some adverse effects on the country's demand outlook.

HSBC and Markit's report showed that China's Manufacturing Purchasing Managers' index dropped to a six month low of 49.6 in January, compared with 50.5 in December. The new readings indicate that the industry has already been in a state of atrophy.

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< p > however, unfavorable economic data also contributed to a sharp fall in the US stock market on Thursday, which in turn increased the attractiveness of gold investment.

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< p > other labor statistics, the labor department data show that the number of first jobless claims increased by 1000 in the week ending January 18th. The total number is almost flat at 326 thousand, slightly better than market expectations. The report of the National Association of real estate brokers said that the sales of house sales in December increased by 1%, and the total volume of annualized sales was 4 million 870 thousand, although not as expected, but the number of sales of housing sales in 2013 increased by 9.1% over the same period last year, reaching 5 million 90 thousand of the highest level in seven years.

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The leading economic indicators of the non-profit organization's economic consultative Bureau (P) rose to 0.1% in December, to 99.4 points. It was also a sixth month high in this project. However, Markit's US Manufacturing Purchasing Managers Index was 53.7 at the beginning of January, slightly lower than the 55 point of 11 months high in December.

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The euro area purchasing managers' index (P > Markit) shows that regional manufacturing activity is the highest level in 32 months.

The US dollar fell against the euro, and the relatively weak dollar made it cheaper for many commodity futures priced in US dollars, including gold, to promote investment attractiveness and price.

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< p > Jane Skou Eells said, "in general," the data in the United States are worse than expected, but it is not very scary.

However, given that the Federal Open Market Committee will hold its first policy meeting in 2014 next week, speculators may be highly alert to any hint that the Fed may make decisions on the procurement of bonds.

If the market sentiment is that the reduction in asset purchases will not be announced soon, then the price of gold will be favorable.

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< p > in addition, market analysts are generally pessimistic about the future trend of < a href= "http://sjfzxm.com/news/index_s.asp" > gold price < /a >.

The 2013 gold survey conducted by Reuters GFMS shows that they expect gold prices to average 1225 dollars per ounce in 2014, that is, 13% annual decline.

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In terms of other metals prices, March silver contract rose 17 cents on Thursday, closing at $20.01 an ounce, or 0.9%, while March copper fell 5 cents, or 1.5%, at 3.286 US $3.286 a pound.

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In April, platinum rose 80 cents on Thursday, closing at $1463.20 an ounce, or 0.1%. In March, palladium dropped 2.95 dollars, or 0.4%, at $745.90 an ounce.

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