Shanghai Gold Benchmark Price Was Born at 256.92 yuan / gram.

“Shanghai gold benchmark” refers to the Shanghai Gold Exchange Release pricing contracts, the RMB-denominated, delivery in Shanghai, the standard weight of 1 kg and fineness of not less than 99.99% gold bullion.
This market is a new price discovery mechanism in the global gold markets which formerly┬árelied on Londons’ fix.

April 19 morning, the Shanghai Gold Exchange, the world’s first to the yuan -denominated gold standard price fix.

“Shanghai gold” reference price today was born, the first pen “Shanghai gold” benchmark price freeze at 256.92 yuan / gram.

The so-called “Shanghai gold fix” refers to the Shanghai Gold Exchange Release pricing contracts, the RMB-denominated, delivery in Shanghai, the standard weight of 1 kg and fineness of not less than 99.99% gold bullion, by the Shanghai Gold Exchange price system trading platform to achieve transaction.


The “Shanghai gold” reference price (Shanghai Gold Benchmark Price), refers to the “Shanghai gold” at the Shanghai Gold Exchange trading platform through a specified pricing “price to the amount of exercise,” the centralized trading, after reaching a market volume and price equilibrium, and ultimately the formation of RMB benchmark prices.

On the base price release ceremony held in the morning, the Shanghai Gold Exchange announced the pricing of 12 members and six members of the reference price list and a list of 18 international consultants.

China is the world’s largest gold producer and consumer countries, in which, the Shanghai Gold Exchange has nine consecutive years ranked inside the world’s largest gold spot Exchange floor at home and abroad gather important gold production, consumption, finance and investment companies. Therefore, the Shanghai Gold Exchange launched the “Shanghai gold” reference price will fully reflect the supply and demand of China’s gold market, representing the price trend of Chinese gold market, with use value; can be provided for the gold trading market, reliable RMB-denominated gold prices .

Meanwhile, China’s gold derivatives market has been the lack of yuan-denominated gold price point and authoritative fair, “Shanghai gold” The introduction of the benchmark price of gold will contribute to the development of China’s financial derivatives market, and will also be associated with gold financial products, financial products, and derivatives prices have a major impac

Gold and Silver Trading Alert: Gold’s insignificant Rally

Gold moved higher yesterday, but it doesn’t seem that it had a major impact on even the short-term outlook as even the short-term resistance and the precious metal lost the momentum over the night

Yesterday, the markets were most concerned about the overall tone of the Fed but it left moderate, relatively small impact on the market, we expect the Fed bearish gold does not appear, the price of gold went during the night into shock. But before the Fed news, gold exhibit bearish technical patterns of the situation, but after a message, fundamentals and technicals did not resonate, then the price of gold into shock, in a sense, since it is possible to rise not fall, However, the sustainability of the rebound, I still remain skeptical, because I would be at the bottom for the dollar near the 94 mark construction rebounded, then gold will rebound obstacles, therefore, caution days only to see a rebound.

Gold yesterday fell below the planned rally short after 1222, former US gold ounce below the 1222 to 1217 the lowest position, but because of the Fed’s late at night there is a message, below the 1222 time seems too early, so the United States offer appeared more intense rebound , rebounded to around 1227-28, 1224-27 recommends shorting is also a matter of course, two in the morning the lowest test white lows near 1217 began to fall into shock, the current station when the hourly chart above ma60 again. Short term, the gold price is not absolutely weak pattern, overnight air alone did not profit by early redemption should avoid the risk of short-term rebound, then wait for the next opportunity to do a solo. H4 moving average was flat. There is no neutral policy. Sound can wait.

From the dateline point of view, on Tuesday to close in Yang Xian, Wednesday to close at Yinxian under the shadow line, and since Yinxian completely inside the candle, so the date line is not part of the disadvantaged. From the day under the shadow line of view, there will be a wave of rebound today, although I’m not sure whether the station on 1236, but rebounded to 1229-30 probability of still relatively large, but the rebound process can proceed smoothly also depends on the dollar response index, once the dollar index station on the 5th line against the line, then the gold rally will be difficult to proceed. Daily aspect, yesterday’s high of 1232, there are signs of shock convergence on h4, days short-term strategy: radical early 1225 more than a single continue to hold the 1220 loss of the chance to see Paul set to lighten up after 1230, might be able to break the convergence pressure on the border triangle ; short program, below 1220 before considering short, look to rebound 1225 1230 1218 loss empty. Recent gold mainly does short-term. The daily cycle of yin and yang aspects is expected to until after April 15 it may have a smooth market.

Silver yesterday, Wednesday staged a roller coaster trend, white plate today is expected to shock the city still does not appear significant unilateral desire, but after experiencing a long-term consolidation, and the subsequent need to focus on key points Power average, once Power follow-up action.

Crude oil, was a continuous movement of a great variety, regardless of 40.10 last week to start a short or long rally this week, 35.20 starts, during exercise almost no callback. Crude oil rebounded yesterday in line with the technical side but also in line with the news, not only for investors to re-OPEC “frozen production agreement” to restore confidence in the favorable factors, as well as promoting positive EIA data. US data Energy Information Administration (EIA) latest data show that as of April 1 the week crude oil inventories fell 493.7 million barrels, is expected to increase the value of 315 million barrels of crude oil rebounded to categorical data to inject new momentum. Yesterday’s recommendation to do more than look at 37.60-38 36.50-60, and almost to the point is the lowest intraday point if there will be a significant amount of money in accordance with policy enforcement. Today, Thursday, crude oil is expected to rise further to around 38.50, however, after rising a full two days, oil prices stand on the 38 mark, the target position step away from the short positions on the operation would be difficult to find the right point, the European plate back or waiting for the opportunity to step over 37.50 USD

Fed Worries, Crude Oil Team Up to Beat Down Wall Street Keeps Hesitating to Raise Interest rates .

Yesterday Africa and the United States recovered the declines in the day before, the S & P 500 indexes closed up 21.49 points, or 1.05%, reported 2066.66 points. Dow Jones Industrial Average closed up 112.73 points, or 0.64%, reported 17716.05 points. The Nasdaq composite index closed up 76.78 points, or 1.59%, reported 4920.71 points. Chicago Board Options Exchange (CBOE) Volatility Index (VIX, referred to as the fear index) fell 8.63 percent, reported 14.09. Crude oil: Kuwait in OPEC representatives said Tuesday the meeting this month to limit production even without Iran can come to an agreement. He also said that the major manufacturers are obliged to agree to freeze production, which will limit oil prices weaken. The rebound in oil prices this year is pulled to limit production of the hot market, but at the end of March is expected to limit production in Saudi Arabia is threatened under the influence of rhetoric and Iranian officials, oil prices also will drop from near four-month high. At the 17th meeting of the restricted production is getting closer, so that the latest speech OPEC officials hope to reach an agreement to freeze production rise in oil prices also needs to support this rally again in the next.
USD: Fed released minutes of the meeting in March at two o’clock today, almost all of the content display Fed officials believe that the United States risks to the economy increased downside. Data differences are primarily concentrated in the PCE. Some officials think that this is a stable trend. Other officials think that this tendency is short-lived and unattainable. From empirical data, core inflation PCE (excluding food and transport) continued to rise in the near future. From the Fed’s perspective, a solid core inflation can provide compelling support for the 2% inflation target. Overall downside risks on inflation, because inflation is forecast to decline in the dollar. Inflation is placed in 2018 will be slight below 2% target level. Overall economic growth is facing downside risks, the first half of this year, weaker economic growth, but after slightly accelerated. The overseas economic slowdown may further discourage exports and suppress aggregate demand. The vast majority of overseas officials expect economic growth than expected in December more slowly, there is not any economic growth, officials said the upside risk. Almost all officials believe the prospect of uncertainty means substantially over the past 20 years almost. Today’s data: 19:30 ECB interest rate decision announced in March session of the minutes 20:30 US weekly jobless claims continued operational recommendations: Crude oil: 38.55 pending short, stop 30 points, target 37.8 Canada: 1.3045 pending order to do more, stop 30 points, target 1.32