International Gold Prices Continued To Fall For 6 Weeks In A Row.

Gold has fallen for 6 weeks, creating the biggest monthly decline in two years.

As the market generally expects the Federal Reserve to open the cycle of raising interest rates, it is hard to avoid the continued weakness of gold in the future.

In fact, at the moment, the prospect of gold is not optimistic, whether in investment or consumption.

In August 2nd, the Federal Reserve raised interest rates and worried about the negative effect of gold. The international gold prices continued to fall in the latest week. The gold price in the New York market began to oscillate below the $1100 per ounce and fell for 6 consecutive weeks, making the price of gold in July as the biggest monthly decline since June 2013.

Data show that by the end of July 31st,

The price closed at $1095 an ounce, a 0.3% drop from the previous week. The intraday price hit a new low in 2011. The spot gold price in London also fell synchronously, and the total decline in July was over 6.5%.

However, the gold trend of RMB denominated in the domestic market gradually stabilized. The Shanghai futures exchange gold futures closed at 220.7 yuan per gram in the last trading day in July, a slight increase of 1% over the previous week, ending the trend of six consecutive weeks of decline. The spot market Shanghai gold exchange postponed trading rose simultaneously, and AU9999 quoted 218.98 yuan per gram, up 0.97% from the previous week.

Industry analysts believe that as the market generally expects the Federal Reserve to open interest rate cycles, the future

The pattern of persistent weakness has been hard to avoid.

"Investors are highly concerned about the Fed's rate hike and the magnitude of the increase. If the market continues to stop at the logical chain of" fed raise interest rate - dollar rise - gold fall ", gold will no doubt continue to go down, and changing this trend needs external force.

Sun Yonggang, analyst of chaos Tiancheng futures, said.

In fact, at the moment, the prospect of gold is not optimistic, whether in investment or consumption.

Especially in terms of investment, at present, market investors are still evacuated from the gold market. With the extinction of risk aversion, the investment in gold ETF continues to decrease.

Statistics show that by August 1st, the SPDR position of the world's largest gold fund ETF has dropped to 672.7 tons. In July, the cumulative reduction of the fund amounted to 38.7 tons, compared with January this year.

At that time, the fund frequently showed a sharp contrast.

Jin Rui futures analysis, including the Fed's interest rate expectations, physical demand weakness and investor withdrawal will continue to inhibit the performance of the gold market in the last three "stumbling blocks".

"The good economic data of the US strengthened the Fed's expectation of raising interest rates during the year, coupled with the improvement of the US economy, and investors reexamined the intention to hold gold."

Jin Rui futures analyst said that the downward trend of gold prices is still full of fear.

In addition, the demand for gold in Asia has been hard to recreate as a result of the "bullying tide" of Asian consumer demand in the long run.

Chen Min, a gold futures analyst, predicted that the traditional peak season of consumption in September and October is likely to weaken this year.