New York Huang Jinping closed at $ 1,730.90

Beijing early morning of November 13, the New York gold (1724.10, -6.80, -0.39%) futures closed Monday does not appear to change was mainly due to India's strong demand and market fears the Japanese economy to form a support for the gold market, but with the United States "financial cliff" uncertainty related to the European debt crisis led to market pressure.

The day, the 12-month contract by the New York Mercantile Exchange (NYMEX) under the Commodity Exchange (COMEX) gold futures prices closed at $ 1,730.90 an ounce, there was no change compared to last Friday's closing price. In last week's trading, the New York gold futures prices rose more than 3%.

The senior investment the website TrueContrarian.com the Editing Steven - Kaplan (Steven Kaplan) pointed out that If the (U.S.) 'financial cliff' the problem is resolved, then the U.S. federal government deficit will continue to remain at a high level, but may strong rise in gold futures prices. However, the Republicans are unlikely to agree to a substantial increase in tax revenue, it is expected that the gold futures market will continue to face downward pressure. "

Gisborne Potter, managing partner of Silver Arrow Capital Management, the asset management company - Green Nevis root (Gijsbert Groenewegen) pointed out that the gold market is subject to the euro zone sovereign debt crisis, "financial cliff" and "quantitative easing" policy. He also pointed out that, from a fundamental point of view, gold futures prices need to break through the resistance level of $ 1740 per ounce, then the impact resistance of 1790 U.S. dollars an ounce.

The term "financial cliff" January 1, 2013 by Federal Reserve Chairman Ben - Bernanke (Ben Bernanke) originally used to describe this time node. At this date, the Bush Administration tax concessions relief policies Obama administration's 2% payroll tax relief and unemployment compensation measures to extend the policy will expire at the same time, this will lead to the sudden decrease in government expenditure, thus spending curve looks like a cliff, so named after the "fiscal cliff.

The so-called "quantitative easing" (Quantitative Easing QE), a concept first proposed by Japan, in the context of the economic malaise, the sharp contraction in bank credit, the Bank of Japan on the zero interest rate from the beginning of March 2001 (between banks further deepening of the night lending rate) policy, mainly refers to the Central Bank in the implementation of the zero interest rate or near-zero interest rate policy, through the purchase of bonds and other long-term bonds, to increase the supply of base money injection of liquidity to market intervention to to encourage spending and borrowing, and also simplified described as indirectly by printing money.