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South Korean presidential advisor: South Korea and the United States are expected to sign a strategic investment memorandum of understanding.November 14th - From January to October, by industry, investment in the primary sector reached 807.5 billion yuan, a year-on-year increase of 2.9%; investment in the secondary sector reached 14,841.1 billion yuan, an increase of 4.8%; and investment in the tertiary sector reached 25,242.9 billion yuan, a decrease of 5.3%. Within the secondary sector, industrial investment increased by 4.9% year-on-year. Specifically, investment in mining increased by 3.8%, manufacturing by 2.7%, and investment in electricity, heat, gas, and water production and supply increased by 12.5%. Within the tertiary sector, infrastructure investment (excluding electricity, heat, gas, and water production and supply) decreased by 0.1% year-on-year. Specifically, investment in pipeline transportation increased by 13.8%, water transportation by 9.4%, and railway transportation by 3.0%. By region, investment in the eastern region decreased by 5.4% year-on-year, investment in the central region decreased by 0.5%, investment in the western region increased by 0.4%, and investment in the northeastern region decreased by 11.7%.November 14th - Raw coal production remained at a high level. In October, the output of raw coal by industrial enterprises above designated size was 410 million tons, a year-on-year decrease of 2.3%; the average daily output was 13.12 million tons. From January to October, the output of raw coal by industrial enterprises above designated size was 3.97 billion tons, a year-on-year increase of 1.5%. Crude oil production maintained growth. In October, the output of crude oil by industrial enterprises above designated size was 18 million tons, a year-on-year increase of 1.3%, with the growth rate slowing by 2.8 percentage points compared to September; the average daily output was 581,000 tons. From January to October, the output of crude oil by industrial enterprises above designated size was 180.64 million tons, a year-on-year increase of 1.7%. Crude oil processing grew steadily. Natural gas production growth slowed. In October, the output of natural gas by industrial enterprises above designated size was 22.1 billion cubic meters, a year-on-year increase of 5.9%, with the growth rate slowing by 3.5 percentage points compared to September; the average daily output was 710 million cubic meters. From January to October, the output of natural gas by industrial enterprises above designated size was 217 billion cubic meters, a year-on-year increase of 6.3%.South Korean presidential advisor: Agrees with the US view that it is necessary to ensure the stability of the foreign exchange market.November 14th - In October, among 623 products from industrial enterprises above designated size, 313 products saw year-on-year growth in output. Specifically, steel production reached 118.64 million tons, down 0.9%; cement production reached 147.75 million tons, down 15.8%; ten non-ferrous metals production reached 6.95 million tons, up 2.9%; ethylene production reached 3.14 million tons, up 11.7%; automobile production reached 3.279 million vehicles, up 11.2%, including 1.71 million new energy vehicles, up 19.3%; electricity generation reached 800.2 billion kilowatt-hours, up 7.9%; and crude oil processing volume reached 63.43 million tons, up 6.4%.

The investment bank's words: Central banks cannot withdraw from unorthodox monetary policy, and the price of gold will rise to $5,500!

Oct 26, 2021 10:58

The Fed may plan to reduce the size of monthly bond purchases before the end of the year, which continues to put pressure on gold, which is still trading at around US$1,760 per ounce. However, Jefferies Group believes that in the long run, gold prices will continue to rise by thousands of dollars.



In a report released on Tuesday, Jefferies stated that gold and Bitcoin are still essential hedging tools because the threat of stagflation (a low-growth, high-inflation environment) continues to grow.

Although the market is still struggling recently, Jefferies analysts said they insisted on their long-term forecast of gold prices rising to $5,500 . However, they also acknowledged that gold will remain vulnerable to tightening concerns in the short term.

Jefferies is still bullish on gold because central banks have found that it is easier to implement unorthodox monetary policy than to withdraw from monetary policy.

Jefferies analysts said: “G7 central banks, including the most important Fed, will not be able to withdraw from unconventional monetary policy in a benign way, and will eventually continue to work on the expansion of the central bank’s balance sheet in some form. These The policy will make those central banks that pursue unconventional monetary policies increasingly lose their credibility and threaten the stability and integrity of the current legal tender system."

In addition to gold, the company also believes that with the devaluation of fiat currencies, the price of Bitcoin is likely to rise . The company's global portfolio of long-term global investors in U.S. dollars holds 5% of cryptocurrencies.

These analysts said: "The reason for the introduction of Bitcoin is that with the increasing evidence of the G7 currency devaluation policy, Bitcoin is clearly a legitimate choice to avoid risk capital seeking a store of value. It should be emphasized again. , Investments in gold and bitcoin are seen as insurance measures, not short-term transactions. This is a long-term investment portfolio that seeks to balance long-term risks and opportunities in the current global context."



Spot gold daily chart

GMT+8 At 9:08 on October 6, spot gold was quoted at US$1758.52 per ounce.

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