RMB denominated gold innovation high gold mining stocks revisit the good times of ten years ago?

category:Finance
 RMB denominated gold innovation high gold mining stocks revisit the good times of ten years ago?


The novel coronavirus pneumonia outbreak has caused great damage to the global economy, said Jiang Chao, a macro analyst at Haitong Securities. In order to fight against the epidemic, governments around the world have introduced large-scale fiscal and monetary policies, of which monetary policy easing is unprecedented, while the Federal Reserve has expanded its table significantly, three rounds ahead of the total. Since gold has no interest, the interest rate can be regarded as the opportunity cost of holding gold. From a global perspective, the most representative interest rate is the U.S. federal funds rate, which can be regarded as the global benchmark interest rate. At present, the interest rate level has been reset to zero, which means the opportunity cost of gold has also been reset to zero. In this context, gold that cannot be printed should be an important choice for asset preservation.

On March 18, 2009, the Federal Reserve announced that it would acquire $300 billion of long-term US Treasury bonds and up to $1.25 trillion of mortgage-backed securities issued by Fannie and Freddie. On November 4, 2010, the Federal Reserve announced that it would launch the second round of quantitative easing program and further purchase $600 billion of longer-term US Treasury bonds by the second quarter of 2011. The second round of easing is planned to end in June 2011, with purchases mainly of US Treasury bonds.

Gold has been in a bull market for two and a half years since the beginning of 2009, rising from $680 / ounce to $1920 / ounce in August 2011. In the past nine years, gold has been unable to break this record high.

At present, the price of xauusd in London is still less than 1800 US dollars / ounce. Can this round of gold market lead gold to break through 2000 US dollars / ounce? In response, a well-known fund manager in Shenzhen told the first financial reporter that in the bull market opened in 2009, gold experienced two rounds of quantitative easing by the Federal Reserve. At present, the expansion and quantitative easing of the Federal Reserve have reflected the asset price to a certain extent, but because the economy is still difficult to recover in all respects, private gold consumption is not strong, and the increase is more driven by speculation, which is the same as that in 2010 Its quite different. The situation of these two wheels cant be compared mechanically. The gold cycle attribute is relatively strong, which is difficult for investors to grasp. In the past historical experience, gold mining stocks have a relatively limited sustained rise, all of which are fast to come and fast to go. However, some senior market participants believe that the brexit and trump election in 2016 gave gold a pulse market, but at that time it was basically negatively related to the stock market, which made the market very limited in continuity. Only the thinking of gold in troubled times played a role, and the economic performance of gold in 2017 was far worse than that of other asset prices, but if it was because of the zero interest rate of the central bank The rise caused by the policy should have a certain continuity, not the pulse in 2016. Source: first finance and economics net editor in charge: Yang bin_nf4368

At present, the price of xauusd in London is still less than 1800 US dollars / ounce. Can this round of gold market lead gold to break through 2000 US dollars / ounce? In response, a well-known fund manager in Shenzhen told the first financial reporter that in the bull market opened in 2009, gold experienced two rounds of quantitative easing by the Federal Reserve. At present, the expansion and quantitative easing of the Federal Reserve have reflected the asset price to a certain extent, but because the economy is still difficult to recover in all respects, private gold consumption is not strong, and the increase is more driven by speculation, which is the same as that in 2010 Its quite different. The situation of these two wheels cant be compared mechanically. The gold cycle attribute is relatively strong, which is difficult for investors to grasp. In the past historical experience, gold mining stocks have a relatively limited sustained rise, all of which are fast to come and fast to go.

However, some senior market participants believe that the brexit and trump election in 2016 gave gold a pulse market, but at that time it was basically negatively related to the stock market, which made the market very limited in continuity. Only the thinking of gold in troubled times played a role, and the economic performance of gold in 2017 was far worse than that of other asset prices, but if it was because of the zero interest rate of the central bank The rise caused by the policy should have a certain continuity, not the pulse in 2016.