Guangdong Jewelry Industry Is Gloomy, Goldman Sachs And Other Gold Prices Are Expected To Be Lowered.

< p > < strong > investment banks continue to see empty gold and gold and silver prices fell to nearly 3 years low gold shop has begun to cut prices industry shuffle is inevitable < /strong > < /p >

< p >, as the investment banks collectively saw empty, short of gold and the US economic data went well, the international gold price fell below the critical support point of $1265 on Wednesday, and from the evening to the low of 1228 US dollars / ounce, a 35 month low.

The spot price of Shanghai gold exchange dropped 7.3%, and it closed at 251.6 yuan per gram.

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< p > in the local market, due to the heavy cost of raw materials in two and a half months, the jewelry industry in Guangdong was gloomy. Most enterprises failed to hedge, and some large enterprises lost billions of dollars. Small and medium-sized jewelry enterprises were facing the fate of selling and closing.

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< p > because the US economic data boosted the US dollar and the market's expectations for the Federal Reserve to reduce quantitative easing were even stronger. This week, HSBC, Goldman Sachs Group, UBS, Credit Suisse, Morgan Stanley and Deutsche Bank lowered the price of gold in advance.

Gold prices fell to $1228 / ounce low on Wednesday evening, setting a 35 month low.

On Wednesday, the biggest drop in gold prices was 4.25% on a single day, compared with 11.7% in the last 4 trading days.

International silver prices also fell below 20 dollars, the biggest drop on Wednesday is 6.38%.

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< p > < strong > Silver ETF has a single drop in funding day by day, < /strong > < /p >.

At the same time, the world's largest gold ETF SPDR Gold Trust lowered its gold holdings by 16.23 tons on Wednesday morning, down from 969.50 tons in February 2009 to 1.65%, the second largest single day decline in the year.

Since Bernanke's speech in June 20th, gold ETF has sold gold for 3 consecutive trading days.

Over the same period, the world's largest silver ETF holdings dropped sharply from 192.11 tons to 9881.87 tons, the biggest single day decline since last June.

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India's central bank said it would no longer provide loans to jewellery and gold coins in the rural areas of the country. The government of India has increased the import duty of gold to 8%. P

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< p > < strong > the short line still has a drop in space < /strong > < /p >

< p > < strong > the middle line is still weak, < /strong > < /p >.

< p > in the light of the tendency of the Federal Reserve's quantitative easing monetary policy to reduce, the suppression of the gold market is protracted.

In the next six months, most institutions expect gold prices to remain weak.

HSBC expects that in the rest of this year, the price of gold will be between $1125~1375 per ounce and the price of silver will be between 16~22 dollars.

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< p > technical point of view, gold price has fallen through the important support position of 1265~1280 dollar, still falling in the channel, the strong support position is in the 1100~1150 dollar line.

But the 1100~1200 US dollar is currently the cost line of mineral extraction, and it is not expected that the gold price will run too long below this location.

Experts suggest that in the declining channel, the bottom should be cautious. T+D investors are better off.

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< p > < strong > > six or seven of the Guangdong market. The loss of the industry is larger than /strong > /p >

Less than 20 years ago, the Golden Dragon jewellery industry in the Pearl River Delta Industry (P) has suffered heavy losses in the collapse.

At that time, a total of 8 tons of gold products were stored in the warehouse of Dalong. The price of gold fell by 65 yuan per gram, and the total loss of dragons without hedging had lost 500 million yuan.

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The loss of P (alias), which is a silver business, is much more serious than that of Dalong.

"The price of silver has dropped from 7000 yuan (kilogram) to 3700 yuan now, and it has lost half of its money. Since 2010, all profits have been soaked."

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< p > according to the Association statistics, 60%~70% enterprises in Guangdong have already suffered huge losses.

Starting from last weekend, thousands of gold prices fell below 300 yuan per gram in some commercial streets in Guangzhou. The industry expects that in the next six months, there will be more sales. After the tide of price cuts, the industry will shuffle, and a large number of small businesses will be eliminated.

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< p > it is understood that large enterprises generally take three ways to avoid the risk of gold price rise and fall: the most common way is to borrow gold from banks, such as lending 1 tons of gold to banks in June 2013, processing and selling them slowly, and in June 2014, 1 tons of gold can be paid by banks.

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< p > the second way is hedging, locking the future raw material business risk.

The last way is to buy positions and buy gradually.

Experts suggest that SMEs should follow suit.

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< p > < strong > capital market: < /strong > < /p >

The latest stock prices of several gold stocks have all set a new low of 3~4, but most people in the industry still believe that because of the substantial increase in P / E ratio and the deep gold and silver deposits in gold mines, the long-term value of gold stocks and the value of investment in the midline are highlighted, which deserve special attention. P

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