Gold buying
- Thread starter Aman4303
- Start date
luciferocious
KF Mentor
get physical gold when there is discount on websites using cc. it will save you at least the gst part from my stand point. views may vary with others
theraj0007
KF Expert
IT IS ALL TIME HIGH SO WAIT FOR CORRECTION THEN BUY .
Rohit Vishwakarma
KF Rookie
No its not a right time to buy gold
have some patience
have some patience
Here's my 2 cents on why prices are increasing, data has been gathered from multiple sources
Chinese speculators (not official players) are betting heavily on rising gold prices which has significantly boosted the rally to an all-time high this month. The number of long gold positions held by futures traders on the Shanghai Futures Exchange (SHFE) has gone up to 295,233 contracts, which is about 295 tonnes of gold. This is nearly a 50% increase since late September when tensions in the Middle East escalated.
One trading firm, Zhongcai Futures, a company that started as a PVC pipes manufacturer and later got into futures trading, has gathered a bullish position in SHFE gold futures that's worth around 50 tonnes of gold, nearly $4 billion, which is ~2% of China's central bank's gold reserves. Other Chinese traders like Citic Futures and Guotai Junan Futures also have significant long positions in SHFE gold futures.
Gold has gone up by over 40% since the last 1.5 years, mainly due to record purchases by Emerging Market Central Banks (including the RBI) and signs of lower interest rates.
Activity on SHFE and the Shanghai Gold Exchange has been a major factor in driving the rally, as Chinese investors look to diversify from their struggling property and stock markets.
Ultimately, the recent gold rally is mostly driven by speculative trading by Chinese non-official sector players. This level of activity is a new phenomenon and needs careful monitoring, especially considering the volatility in the Chinese markets.
Chinese speculators (not official players) are betting heavily on rising gold prices which has significantly boosted the rally to an all-time high this month. The number of long gold positions held by futures traders on the Shanghai Futures Exchange (SHFE) has gone up to 295,233 contracts, which is about 295 tonnes of gold. This is nearly a 50% increase since late September when tensions in the Middle East escalated.
One trading firm, Zhongcai Futures, a company that started as a PVC pipes manufacturer and later got into futures trading, has gathered a bullish position in SHFE gold futures that's worth around 50 tonnes of gold, nearly $4 billion, which is ~2% of China's central bank's gold reserves. Other Chinese traders like Citic Futures and Guotai Junan Futures also have significant long positions in SHFE gold futures.
Gold has gone up by over 40% since the last 1.5 years, mainly due to record purchases by Emerging Market Central Banks (including the RBI) and signs of lower interest rates.
Activity on SHFE and the Shanghai Gold Exchange has been a major factor in driving the rally, as Chinese investors look to diversify from their struggling property and stock markets.
Ultimately, the recent gold rally is mostly driven by speculative trading by Chinese non-official sector players. This level of activity is a new phenomenon and needs careful monitoring, especially considering the volatility in the Chinese markets.
