论文部分内容阅读
刚刚刚进入2012年,市场便经历了伊朗、叙利亚的地缘政治、美联储声明延长低利率期限、希腊重陷债务违约边缘等一系列事件的冲击。即便如此,在过去两个月的时间内,黄金依然跑赢了大多数的金属(见图1)。国际金价自2011年12月中下旬1520美元附近开始反弹,最高至1763美元,随后在1700～1763美元区间震荡,至2012年2月22日突然发力,一举突破1763美无的区间上限。黄金突破此震荡区间的主要推动力是什么?接下来,黄金还将受到哪些因素的影响?多重因素助推金价从年初以来的市场影响因素来看,美联储基于较低的产能利用率与中期的低通胀前景,决定维持0～0.25%的联邦基金利率至少至2014年下半年,导致了市场对货币宽松环境进一
Just entering 2012, the market experienced the impact of a series of events in Iran, Syria’s geopolitical issues, the Federal Reserve’s announcement to extend the period of low interest rates and Greece’s rescheduling of the debt default. Even so, gold has outperformed most of the metal in the past two months (see Figure 1). The international price of gold rebounded from around 1,520 U.S. dollars in late December 2011 to as high as 1,763 U.S. dollars and then fluctuated in the range of 1,700 to 1,763 U.S. dollars. As of February 22, 2012, the international gold price suddenly hit the upper limit of 1,763 U.S. dollars. What is the main driving force for gold to break through this turbulence interval? What factors will influence gold next? Multiple factors boost the gold price From the perspective of the market impact since the beginning of the year, the Federal Reserve, based on the lower capacity utilization rate and medium-term Low inflation prospects, the decision to maintain 0 to 0.25% of the federal funds rate until at least the second half of 2014, led the market into a monetary easing environment