Bulk commodities this week was "Storm" international gold price nearly 60 U.S. dollars

International gold

Up to a week or nearly 60 U.S. dollars

Friday Chaodie rebounded to 930 U.S. dollars / oz location

Week, the international gold and the U.S. dollar significantly stronger heavy oil prices fell sharply under the influence of weakness, from nearly 980 U.S. dollars / oz position dropped to 920 U.S. dollars / oz. Friday Chaodie rebounded to 930 U.S. dollars / oz location. The domestic gold from the high-profile diving turn stabilize, Friday Spot gold rose to 204 yuan / grams of the above position, the Suoliang futures rose to 205 yuan / grams of the above position, investors cautious attitude. Guangzhou week price changes in gold coins weak.

On the strong dollar against gold

Federal Reserve Chairman week in a speech that had led the international gold of the main reasons for weakness. Its strong dollar makes dollar out of the recent argument has been significantly strengthened the Huiqi, brought great pressure on gold. Over the same period by the high international crude oil prices dropped heavy, as low as 120 U.S. dollars juncture, Lianlei speculative buying of gold to sell their gold. Experts believe that Fed Chairman's speech of far-reaching significance, and may in the long-term bearish on gold, the second half of the gold bull market may be delayed arrival.

However, short-term, gold Pijitailai time Friday, the U.S. dollar index on the 24th night in the U.S. labour market and the impact of weak housing market data, the dollar profit taking, closing 72.85, the lowest reached 72.60, while crude oil rebounded sharply on the 24th, the United States Economic data weighed on the evening of dollars profitable oil and oil closed end at 125 U.S. dollars / barrel at the top, the highest reached 126.51 U.S. dollars / barrel, gold will bring to promote.

Important for good information, data, oil refineries postponed due to high prices of purchased crude oil, U.S. crude oil supply in the past 10 weeks have dropped eight weeks, again aroused the trading of crude oil interest. The top military commander said Israel, the Israeli army sent Iran may be necessary to stop Iran's nuclear research facilities, this is also good news oil prices, from low to support gold.

Technical support surface rebound

, K Line, the former gold yesterday fell after the two-day show support rally, gold up the strength of the current larger; MACD indicators 0 axis side, a banner consolidation, Hong Zhu slightly expanded, kinetic energy on the long - Forces on the rise; four hours, mainly by the pressure on the 20th MA, the energy market in the long rebound, MACD, significantly expanding the market bullish momentum, RSI consolidation in the vicinity of 40, gained the support, from hour to map , The location of the five-day MA Duokong trial of strength between the two sides, long power on the rise, from MACD, the oscillation in the high, short of kinetic energy increases, RSI is near 60, longs force has expanded. (Well-nan)

International oil prices

Technical rebound back on 125 U.S. dollars

Compared with the highest level has fallen 15%

By a technical rebound, and other factors, on the 24th New York Mercantile Exchange, September delivery crude oil futures prices rose to close at 125 U.S. dollars per barrel at the top.

On the New York Mercantile Exchange, the September delivery of light sweet crude per barrel from the previous trading day up 1.05 U.S. dollars to close at 125.49 U.S. dollars. Earlier in the day, the futures contract hit a low of 123.50 U.S. dollars. London's International Petroleum Exchange, September Brent crude-oil futures rose 1.15 U.S. dollars a barrel to close at 126.44 U.S. dollars.

In addition, the New York Mercantile Exchange, September delivery price per gallon gasoline futures rose 2.5 cents to settle at 3.0594 U.S. dollars. September delivery of heating oil futures price per gallon rose 1.7 cents to settle at 3.5671 U.S. dollars. August delivery of natural gas futures prices per 1,000 cubic feet (1 cubic metre approximately 35 cubic feet) fell 46.5 cents to 9.283 U.S. dollars.

Market participants said that rising oil prices is the day the last few days oil prices fell sharply after a technical rebound. On the 11th of this month and set a high of more than 147 U.S. dollars compared with New York crude oil prices have now fallen by 15 percent.

In addition, market participants pointed out that U.S. gas prices also fell, reflecting the weak U.S. economy has had an impact on oil demand, making oil prices fell.

Basic metals

Luntong below 8,000 U.S. dollars mark

Analysts said the bottom to look at 5,500 U.S. dollars

Recently, the futures market investors have been sighted in the high-profile diving international oil prices plummeted and follow the agricultural futures attracted by the basic metals market performance is equally stunning in crude oil and agricultural prices fell sharply at the same time, the most important basic metals -- -- Copper also high since the initial drop down more than 9 percent. Yesterday the London Metal March copper on the market is below the 8,000 U.S. dollars mark. Analysts believe that the future prices may continue in 2006, 2007, "early rise, down the end of" the movement of a wave of the second half of the medium-term adjustment, the adjusted low of daring to look at 5,500 U.S. dollars.

Extreme weakness in consumer production increased significantly

Metal prices on the most sensitive macroeconomic trends, in fact only recently copper and aluminum also remain high, while the rest of the metal has long been the first to enter the "bear market" pattern. Since last week, the deterioration of the U.S. economy to the international oil prices and futures prices of agricultural products have high platform diving, this copper and aluminum are not exception. Copper extensive pre-market speculation of the South American copper mine workers strike has been caused by supply worries evaporated, replaced by the extreme weakness of consumer concerns. March copper in London Thursday from the previous day's closing price of 8,080 U.S. dollars Bao Diezhi 7,900 U.S. dollars, the first time below 8,000 U.S. dollars mark. The domestic copper futures Thursday and Friday for crash two days, the cumulative decline in more than 1,000 yuan / ton.

China, as the world's largest copper consumer demand this year has been reduced very significantly. According to Chinese customs statistics, China's imports of copper and copper forging consecutive month decline, while domestic important copper industry - air-conditioning industry sales severe abnormal situation, the Chinese air-conditioning sales in May fell 32 percent year-on-year , Setting the past six years, the largest monthly decline.

At the same time the weak domestic consumption of copper production has increased. According to the International Bureau of Statistics data, the first six months of this year, China's copper production totalled 3.7441 million tons, an increase of 18.1 percent.

Aluminum adjustment may be limited

Analysts believe that in the current economic situation of uncertainty and weakness in consumer extreme circumstances, the prices have continued to decline, particularly in Luntong Thursday fell below 8,000 U.S. dollars / ton after more investors to open a decrease in space. Great Wall Albert CHAN business department deputy general manager of Shanghai Futures Jingchuang said: "From a technical graphics perspective, in 2006, in 2007 two years have emerged early sharp rise in the high oscillation, the end of the trend of sharp decline. From the past six months Trend, this year may continue to maintain this trend. If so, future prices will start mid-level adjustment, it is estimated that the adjustment will not be lower than the low of 2006 adjusted low - 5,500 U.S. dollars. "

As for the trend of other metals, analysts are also bearish. Futures senior analyst with Jiangnan pay the Riverside, said: "Apart from copper and aluminum, other non-ferrous metals has entered a bear market in advance. Metals lead although the recent wave of a modest rebound, but the graphics technology has already emerged on a huge 'head-and-shoulder top ', The current rally did not break through the' neckline ', is still not optimistic about the future trend. And a better future might be aluminum, aluminum smelter due to energy consumption, in power under the constraints may be forced to production and therefore the future The adjustment may be limited, at 18,000 yuan / ton near support. "

Agricultural products

Corn futures decline too much at present no clear direction

Chicago soybean futures continue to fall

On the 24th Chicago Board of Trade soybean futures continued to fall, the November contract fell 11 cents to close at 13.73 U.S. dollars per bushel.

Analysts said the day was mainly a technical sell-off led to soybean futures lower. Corn futures decline as much, in the absence of clear direction of the circumstances, corn and soybean commodity arbitrage between the inter-down of the soybean prices. Although there is not much change in fundamentals, but the market remains fragile.

The U.S. Department of Agriculture announced on the 24th week of the latest agricultural export sales report showed that U.S. soybean export sales fairly robust. As of July 17 the week, the United States this year's soybean "old crop" export sales of 183,000 tons, more than 2.9 times the previous week; 2008/2009 annual "new crop" export sales of 552,400 tons. (According to Xinhua News Agency)

Forecast for next week

Dollar exchange rate is still the core fundamentals next week, the Fed speeches this week will be next week's U.S. economic data to prove, such as to the good economic data, the general trend of dollar strength to establish the center line, the gold bull market will slow down the center line. However, if faced weak economic data, while gold future will continue to improve, continue to short-term shocks, the central line of bull market quietly approaching. Is still facing two-way choice.

Operation of the proposed

Guangdong gold company Hai-Tao Yang believes that the current trend of consolidation has begun, the dispersal of the band has long proposed to continue the wait-and-see, do not easily Chaodi. Sound investors wait-and-see proposal. Radical investors in the 940 to 920 U.S. dollars / oz range from the operation, but it is necessary to strictly stop-loss. Investors may be short-term rebound after Fenggao short, stop-loss at 954 U.S. dollars in / near an ounce.