Shanghai Gold Continues To Rise &Nbsp; Zhengmian Adds The Warehouse Upward.
On Wednesday, Shanghai gold continued to rise, encouraged by the new high international gold price. The main contract AU1106 closed at 303.58 yuan / kg, up 0.98%. The turbulent situation in Libya has further deteriorated. The market is concerned that tensions will spread to other Middle East countries such as Saudi Arabia and Iran. The double demand of risk aversion and inflation support gold prices.
New York gold hit a record high of $1435.6 / ounce on Tuesday.
In February, the US ISM manufacturing PMI rose to 61.4, the euro area increased 2.4% in February, and the inflation pressure increased in Europe and the United States in February.
Shanghai gold will continue to rise, AU1106 will attack 314 yuan / kg strong resistance.
Zheng cotton
: add up to the warehouse.
On Wednesday, ICE cotton futures rebounded strongly, Zheng cotton shocks rose, and 18088 additional positions were added throughout the day. The main contract CF1109 closed at 33200 yuan / ton, up 1.20%.
In March 2nd, China's cotton price index reported 30518 yuan / ton, up 51 yuan / ton.
Domestic cotton spot rose steadily, and supply remained tight.
ICE cotton futures, driven by funds such as funds, will increase volatility risk and remain strong.
international
cotton
On Tuesday, the Advisory Committee (ICAC) said that global cotton output in will grow by 9% to 27 million tons.
Zheng cotton's strength is hard to change, and CF1109 will continue to hit 35000 yuan / ton.
Soybean oil: a sharp rise
Wednesday, soybean oil
futures
Low opening and high walk, adding 24944 hands throughout the day, the main contract Y1109 closed at 10380 yuan / ton, up 2.02%.
International crude oil futures continue to rise, driving soybean oil futures strong.
Heilongjiang's soybean reserves were auctions 20 thousand tons in March 4th, and domestic grain and oil regulation continued.
Recently, the agency's forecast of soybean production in Brazil and Argentina has increased, inhibiting soybean oil futures upward.
Soybean oil futures stabilized and recovered significantly. The future soybean oil futures are expected to continue to rebound, and Y1109 will go up to 10500 yuan / ton resistance.
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