Gold Market Did Not Show Signs Of Demand Following Prices

Here world clothing shoes The Xiaobian of the hat net tells us about the demand and supply of gold and the need for caution.

A review of supply and demand from June 23rd to June 28th: Although gold prices rose by about 3% last week, the total price rose by about 5% in June. As the main area of traditional gold demand, there is no sign that demand follows prices. At the exchange level, however, it is still optimistic about the physical demand outlook in Asia and competing for the sale of physical contracts. The upcoming 3 quarter is also the "peak season" for gold returns, and the gold market can maintain its upward trend.

The impact of supply and demand on the gold market is usually only in the long run. This influence is slow but firm.

　　 SGE Xu Rhodes: China's actual gold consumption is higher than official data.

Shanghai gold Rhodes, chairman of the SGE, mentioned two times in Singapore's LBMA forum that China's gold consumption may be higher than official data. According to official data from China Gold Association, China's gold demand in 2013 was 1189 tons. He pointed out directly that "China's gold consumption in 2013 amounted to 2000 tons."

China Gold Association: China's demand can last for 20 years.

The gold association of China said that the trend of global gold moving from west to East has made China the world's largest consumer of gold, and this situation may last for 20 years when income increases stimulate consumption.

Zhang Bingnan, vice president of the China Gold Association, said: "with the increase in income in the eastern region, gold demand will have similar trends, and the demand will continue to increase in the future, whether in China or in India or other developing countries unless there is any major event."

The exchange is optimistic about the demand for Asia, and finds the gold cargo contract.

The Singapore Exchange (SGX) announced this week that it will release the world's first gold contract of 25 kilograms of gold bars as soon as possible in September.

"I think this is the next step for Singapore, and it is slowly changing into a gold center," said Victor Thianpiriya, a commodities analyst at ANZ.

It has been reported that the CME group may issue a 1KG convertible spot gold contract in Hongkong, and the Shanghai free trade area gold international version may also be opened in the fourth quarter. Despite the cautious demand in Asia, the exchange is optimistic about its prospects.

　 West Jin East flow slowed down

Swiss customs data show May from London to Switzerland Exit Gold increased by 32% to 31.7 tons. In May, total imports of gold in Switzerland increased from 5.5% to 128 tons in April. In May, gold exports in Switzerland decreased by 13.6% compared with April, a decrease of 96.6 tons.