Gold price breaks through the $1,300 mark

The newspaper reported that the target price of 1,300 US dollars, which was previously expected by gold analysts to reach the end of the year, was easily broken yesterday. In the early hours of Beijing time yesterday, the most active December contract on the New York Mercantile Exchange gold futures rose 9.7 US dollars per ounce, closing at a record high of 1308.3 US dollars, an increase of 0.7%, the highest intraday touch of 1311.8 US dollars. For the market outlook, gold analysts lamented that "there is no highest, only higher." At the same time, the main contract of the gold follower silver futures also rose to a record high in 30 years.
According to a report released by the World Federation of Large Enterprises on the same day, the consumer confidence index fell to a seven-month low in September, a measure far less than analysts had expected.
The Case-Schiller house price index released by Standard & Poor's recently showed that house prices in 20 major cities in the United States fell slightly from the previous month in July this year, indicating that the US real estate market recovery is still weak.
Disappointing economic data once again confirms the uncertainty of the US economic situation and investors' expectations for quantitative easing, which strengthens the safe haven and investment attractiveness of gold. On the same day, the exchange rate of the US dollar against the euro fell to a five-month low.
The above three data have turned the gold price trend that is taking profit. The price of gold climbed before the close and easily rose above the key price of $1310 per ounce.
The gold price is once again arrogant, so that the gold follower silver is once again crazy. The main contract of silver futures also set a new record high in the past 30 years. Silver futures for December delivery rose 23.6 cents per ounce to close at $21.707, or 1.1%, hitting a new high of $21.775 per ounce for the 30-year main contract.
For the performance of the gold price, Hengtai Chase Gold analyst Jiao Yu said that the current bullish sentiment in the gold market dominates and will further stage the short-selling market. However, the price of gold has not been adjusted slightly since July 28, and investors in the market are worried that the mood is increasing. Therefore, it remains to be seen where the gold bulls will be affected. At present, the target of this high cycle has basically reached, then it is very likely that gold will enter a comprehensive adjustment period. According to the usual callback inertia of gold, this round of gold is suppressed above $1,320, then the support line of the callback is at 1284- The $1,290 line should be reachable.
However, some analysts believe that after the gold price closes the key price of 1,300 US dollars, it will be expected to hit a new high of 1,450 US dollars per ounce.

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Spec.:

Model NO.
Moisture(%)
Strength(%)
Idine value(mg/g)
methylene blue value(mg/g)
Ash(%)
Packing density(g/L)
pH-value
Grain diameter(mm)
DX-3060
≤3
≥90
≥950
≥140
≤10
530±20
8-10
Φ1.5
DX-3070
≤3
≥90
≥950
≥150
≤10
500±20
8-10
-
DX-3080
≤3
≥90
≥950
≥150
≤10
490±20
8-10
-
DX-4060
≤5
-
≥950
≥150
≤15
-
8-10
-
DX-4070
≤5
-
≥950
≥150
≤15
-
8-10
-

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