The US Dollar Continued To Go High And Gold Prices Fell Another 0.3% On Thursday.

< p > Beijing time February 21st morning, on Thursday morning, the US dollar exchange rate continued the rise in the previous trading day because the Federal Reserve announced the latest decision making meeting minutes. The relatively strong dollar made gold prices continue to slide, including gold, and the price of gold and many other commodity futures contracts which were priced in the US dollar. Gold prices continued to decline. On the other hand, the weak manufacturing data in China also dragged down the trend of gold prices, and the main gold contract traded at $1316.90 an ounce. < /p >
< p > the New York Mercantile Exchange's main gold contract in April fell $3.50, or 0.3%, at $1316.90 an ounce. The contract also had a 0.3% decline in the previous trading day, and it had been nine consecutive trading days earlier, which is the longest continuous rally since July 2011. < /p >
The quotation of < p > a href= "http://www.91se91.com/news/index_cj.asp" > metal futures contract < /a > narrowed some of the declines after the US consumer price index was released. According to labor department data, the CPI of January has a seasonally adjusted growth rate of 0.1%, which is roughly the same as that of economists. In the week ending February 15th, the number of initial jobless claims in the United States decreased by 3000, and the seasonally adjusted total was 336 thousand, slightly higher than the 335 thousand market expectation. < /p >
< p > but the key to the metal market trend on Thursday is the data from China: HSBC and Markit released a survey of purchasing managers in China's manufacturing industry. The initial value of the February index is 48.3 points, compared with the 49.5 final January value, which is also the lowest level in seven months. In addition, the composite index of manufacturing and services in the 18 countries of the euro area dropped to 52.7 points from 52.9 points in the previous month, of which France's poor performance was the most prominent. < /p >
Kathleen Brooks, head of research in London, P Forex.com, said that, as China's data in the past few weeks were generally optimistic, the new manufacturing purchasing managers' index is unlikely to cause more widespread concerns about emerging markets, and February reading is more likely to be affected by the Lunar New Year holiday. "The link between emerging markets and vulnerable China data seems to have decreased. In fact, the market in developed countries seems to be more affected by the less than expected February data in February". < /p >
< p > on the other hand, the initial value of the Markit Manufacturing Purchasing Managers Index on Thursday also showed that the growth rate of the US manufacturing industry reached the highest level since May 2010, and that month's readings increased unexpectedly to 56.7 points. But in the same period, the Philadelphia fed regional manufacturing index dropped to a negative 6.3 point in February, far less than the 9.4 point January readings and the 7.3 average economists' expectation in February. < /p >
(P) the Federal Reserve released the minutes of the January decision meeting on Wednesday, which showed that the members of the committee could not reach a consensus on the prospect of short-term interest rates, causing the market's doubts about the speed of the scale reduction of asset procurement projects. Gold prices continued to fall after the 10 Day rally. < /p >
Ashe (Adrian Ash), a research director for P > BullionVault, said the era "did not say anything new to the gold market," he said. "The Fed will continue to reduce quantitative easing, but the Fed is ready to stop when economic data is less than expected." < /p >
< p > Shapps Pick Sri CEO Ross Norman (Ross Norman) believes that a "relaxed rise" of a href= "http://www.91se91.com/news/index_cj.asp" > US dollar > /a > is leading to a fall in gold prices. "There are still some doubts about market professionals, but we believe that 2013 will be remembered as a low price period for gold prices, and 2014 will be a very positive year. As usual, the market will not move in a straight line. The current price weakness should be just that someone is making profits. " < /p >
< p > in addition, the Swiss bank group adjusted the expected price of gold in the latest report, and increased its average forecast from 1200 US dollars per ounce to 1300 US dollars per ounce in 2014, but maintained a forecast of US $1200 an ounce in 2015. < /p >
On the other hand, < p a > other a href= "http://www.91se91.com/news/index_cj.asp" > metal price < /a >, in March, silver fell nearly 17 cents on Thursday, closing at 21.68 dollars per ounce, or 0.8%. - before Wednesday's fall of 5 cents, silver prices rose for 11 consecutive trading days, while the March copper contract fell less than 1 cents, or 0.2%, at 3.28 US dollars per pound. < /p >
In April, platinum contracts fell $12 on Thursday, closing at $1412.50 an ounce, or 0.8%, while palladium rose 90 cents in March, or 0.1%, at $736.30 an ounce. < /p >
The trade union of P, the largest platinum mine in South Africa, announced that it would continue to strike until a better pay condition was proposed by the management. However, the price of platinum and palladium did not respond to this news. < /p >
< p > other market indicators, the Philadelphia gold and silver index, which tracks major mineral companies' share price performance, is nearly 2.7% higher than that of the gold market; SPDR gold trust, which is also guaranteed by the physically guaranteed exchange fund, has increased by 0.5%. < /p >