英闻天下——470 Falling Gold Price Arouses Various Customer Reactions

 　　In contrast to the gold market in the past, the price of gold this year after the Spring Festival did not rebound¹.

 

　　In the global market, according to the COMEX division of the New York Mercantile Exchange, gold futures² ended last week with a loss of 0.7 percent, ended March with a gain of 1.1 percent, and ended the first quarter of 2013 with a loss of 4.8 percent.

 

　　In China just before the Spring Festival, the domestic gold price was 336 yuan per gram. Now the price is at about 320 yuan per gram.

 

　　Influenced by the global market, the domestic gold market is experiencing both a boom and a decline. Many individual investors⁴ who expect to sell their gold are destined⁵ to wait longer, while many others are eager to buy because they believe the right time has come.

 

　　Experts say the declining gold price is partially⁶ due to macroeconomic figure reflecting an optimistic trend. This has prompted global investors to withdraw their capital from the gold market and put it in the stock and currency markets for higher returns. Another reason is that the hedge fund investors have sold off their gold and silver for U.S. dollars.

 

　　Zhao Xianwei, a gold market analyst⁷ at Galaxy⁸ Futures, says individual investors should avoid trying to determine the lowest price to buy gold.

 

　　"The appropriate investment point comes with a very important phenomenon, which is, with the rise of our stock market, the gold price will rise as well. Under this circumstance, the global gold market will warm up with a stabilized⁹ economy. Thus, the gold price will further go up in accordance with a rise in other capital transactions. That's the point where the gold price touches down and rebounds¹⁰. I think now it's still a bit early to invest in the gold market."

 

　　To echo the passion of gold financing product investors, China is about to introduce a night trade market. Currently the gold and silver trading time is Monday to Friday, 9 a.m. to 11:30 a.m. and 1:30 p.m. to 3 p.m. But officials at the Shanghai Futures Exchange said that they expect an additional 9 p.m. to 2:30 a.m. trading time to be added.

 

　　Yao Guang, general manager of Galaxy Futures, says the proposal to extend the trading hours for gold and silver contracts will help investors respond during the main trading hours of international markets as well as complete daytime settlements.

 

　　"If we don't have night trading, the gold market in China is just a market for China. Thus, there may be a transaction gap between our market and the American gold market, because we are asleep while trading is still going on overseas. So, once we start trading the next morning, we need to follow up on the price gap either by raising our price or lowering it. The night trading may make the Chinese gold market more connected with the international market."

 

　　Gold and silver prices are closely related to movements in the international market with the prices of spot gold and silver set during the night, Beijing time.

 

　　Officials at the Shanghai Futures Exchange said the move would improve pricing and risk management and be more in step with the global market to, in turn, help reduce investor³ risk.

 

　　For CRI, I am Li Dong.

1 rebound   

v.弹回；n.弹回，跳回

参考例句：

• The vibrations accompanying the rebound are the earth quake.伴随这种回弹的振动就是地震。
• Our evil example will rebound upon ourselves.我们的坏榜样会回到我们自己头上的。

2 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

3 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

4 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

5 destined   

adj.命中注定的；(for)以…为目的地的

参考例句：

• It was destined that they would marry.他们结婚是缘分。
• The shipment is destined for America.这批货物将运往美国。

6 partially   

adv.部分地，从某些方面讲

参考例句：

• The door was partially concealed by the drapes.门有一部分被门帘遮住了。
• The police managed to restore calm and the curfew was partially lifted.警方设法恢复了平静，宵禁部分解除。

7 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

8 galaxy   

n.星系；银河系；一群(杰出或著名的人物)

参考例句：

• The earth is one of the planets in the Galaxy.地球是银河系中的星球之一。
• The company has a galaxy of talent.该公司拥有一批优秀的人才。

9 stabilized   

v.（使）稳定， （使）稳固( stabilize的过去式和过去分词 )

参考例句：

• The patient's condition stabilized. 患者的病情稳定下来。
• His blood pressure has stabilized. 他的血压已经稳定下来了。 来自《现代英汉综合大词典》

10 rebounds   

反弹球( rebound的名词复数 )； 回弹球； 抢断篮板球； 复兴

参考例句：

• V is the velocity after the gas particle rebounds from the wall. V是粒子从壁上弹开后的速度。
• In the former case, the first body rebounds with practically its original velocity. 在前一种情况下，第一个物体实际上以原来的速度弹回。