Gold futures ended lower on Monday in Hong Kong
By ZhongYuanWei 2011-05-16 18:47:39 AM GMT +0800
(YTWHW.com) - International spot gold prices rebounded slightly, the Hong KongStock Exchange in June gold futures prices Monday (May 16) closed down.
Hong Kong Gold futures contract prices in June 2011 closed at 1,495.8 U.S. dollars / ounce, compared with the previous day settlement price fell $ 17.70, down 1.17%; previous day's open interest of 38 hand.
Boosted by the euro zone sovereign debt crisis rise against the euro Monday morning Pacific time, the international spot gold and silver declined slightly, showing a narrow range of fluctuation trend of midday period, thin trading, investors concerned about the progress of Greece and the foreign exchange market trends.
Euro Pacific extended losses in early trading, hit a two-month low against the yen, a six-week low against the dollar. Greek debt restructuring concerns may be dispersed, to suppress the euro. In addition, the International Monetary Fund (IMF) President Kahn (Dominique Strauss-Kahn) for alleged sexual assault at a hotel waitress in New York City, was arrested and charged, but also cause suppression of the euro.
Since then, driven by profit-taking operation, the euro recovered earlier by the International Monetary Fund scandal and the fall of the losses, but traders expect the event will continue to be weighed on the euro.
A senior Greek official said the arrest of Oliver Kahn will not affect the implementation of the EU / IMF rescue plan, but may cause some delays, because the crucial meeting was canceled.
Mitsubishi Tokyo UFJ Bank (Bank of Tokyo Mitsubishi UFJ) Mitsuru Sahara, senior trader said the upcoming European trading session, traders were concerned about the IMF Chairman of the alert for suspected sexual abuse Kahn was arrested in New York, the latest incident, for example, whether he will be further charges and so on.
At the same time, the euro zone finance ministers will meet on Monday to discuss the financial rescue plan for Portugal.
Germany's "Le Monde" (Die Welt) Saturday edition cited unnamed sources as saying the EU, the International Monetary Fund and the German government was prepared to accept the Greek soft debt restructuring, because the sharp deterioration in the situation of Greece, the European Central Bank (European Central Bank) and France continue to oppose the move.
The paper said that the latest economic forecast in Greece after the data, IMF, European Commission and the German Government has proposed to postpone the Greek government bond maturity.
optionsXpress, said in a recent commodities sell-off encounter, gold is relatively steady, as gold in addition to the properties of goods, there is no substitute for the hedged notes.
The agency said the dollar's recent strength of commodity markets led to a collective decline, however, in view of continuing concerns about the euro zone debt, investors will seek to hedge channels other than bank notes - the gold, so long-term trend of gold is still rising.
The world's largest gold exchange-traded fund ( ETF ) - SPDR Gold Trust, said as of May 13, the ETF gold positions to further reduce the 0.91 tons to 1,192.25 tons of levels, act as a drag on the price of gold.
The world's largest silver exchange-traded fund (ETF) - iShares Silver Trust, said as of May 13 of their silver positions only 18.2 tons, to 10,534.41 tonnes.
Hong Kong Gold futures contract prices in June 2011 closed at 1,495.8 U.S. dollars / ounce, compared with the previous day settlement price fell $ 17.70, down 1.17%; previous day's open interest of 38 hand.
Boosted by the euro zone sovereign debt crisis rise against the euro Monday morning Pacific time, the international spot gold and silver declined slightly, showing a narrow range of fluctuation trend of midday period, thin trading, investors concerned about the progress of Greece and the foreign exchange market trends.
Euro Pacific extended losses in early trading, hit a two-month low against the yen, a six-week low against the dollar. Greek debt restructuring concerns may be dispersed, to suppress the euro. In addition, the International Monetary Fund (IMF) President Kahn (Dominique Strauss-Kahn) for alleged sexual assault at a hotel waitress in New York City, was arrested and charged, but also cause suppression of the euro.
Since then, driven by profit-taking operation, the euro recovered earlier by the International Monetary Fund scandal and the fall of the losses, but traders expect the event will continue to be weighed on the euro.
A senior Greek official said the arrest of Oliver Kahn will not affect the implementation of the EU / IMF rescue plan, but may cause some delays, because the crucial meeting was canceled.
Mitsubishi Tokyo UFJ Bank (Bank of Tokyo Mitsubishi UFJ) Mitsuru Sahara, senior trader said the upcoming European trading session, traders were concerned about the IMF Chairman of the alert for suspected sexual abuse Kahn was arrested in New York, the latest incident, for example, whether he will be further charges and so on.
At the same time, the euro zone finance ministers will meet on Monday to discuss the financial rescue plan for Portugal.
Germany's "Le Monde" (Die Welt) Saturday edition cited unnamed sources as saying the EU, the International Monetary Fund and the German government was prepared to accept the Greek soft debt restructuring, because the sharp deterioration in the situation of Greece, the European Central Bank (European Central Bank) and France continue to oppose the move.
The paper said that the latest economic forecast in Greece after the data, IMF, European Commission and the German Government has proposed to postpone the Greek government bond maturity.
optionsXpress, said in a recent commodities sell-off encounter, gold is relatively steady, as gold in addition to the properties of goods, there is no substitute for the hedged notes.
The agency said the dollar's recent strength of commodity markets led to a collective decline, however, in view of continuing concerns about the euro zone debt, investors will seek to hedge channels other than bank notes - the gold, so long-term trend of gold is still rising.
The world's largest gold exchange-traded fund ( ETF ) - SPDR Gold Trust, said as of May 13, the ETF gold positions to further reduce the 0.91 tons to 1,192.25 tons of levels, act as a drag on the price of gold.
The world's largest silver exchange-traded fund (ETF) - iShares Silver Trust, said as of May 13 of their silver positions only 18.2 tons, to 10,534.41 tonnes.
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