Week by multiple negative factors, the international oil prices lower volatility.

Weekly first Qatar is breaking off the storm to suppress oil prices. Bahrain, Saudi Arabia, the United Arab Emirates, Egypt and Yemen announced their severance of diplomatic relations with Qatar, respectively, accusing Qatar of supporting terrorist activities and undermining the regional security situation. The Ministry of Foreign Affairs of Qatar issued a statement later that day to express regret and shock to the multinational and its severance, that this move “no reason.” Analysts said that the severance of the matter involved a number of OPEC members, triggering investors on the issue of whether the extension of the concerns, resulting in international oil prices fell that day.

Zhou Zhong US Energy Information Bureau released data show that last week the United States national commercial crude oil inventories unexpectedly increased 330 million barrels to 5.132 billion barrels, after the market is expected to decline for the ninth consecutive week. US business oil inventories unexpectedly increased the market for international crude oil oversupply concerns, leading to sharp decline in oil prices.

In addition, the US oilfield technology services company Baker Hughes released the same week reported that the number of US operations in the oil field drilling for the first 21 weeks rise, indicating that the US shale oil manufacturers continued to increase production.

Into June, with the market generally expected in the Fed once again raise interest rates approaching, the international gold market does not fall up – the international gold price for four weeks away from the 1300 US dollars mark only one step away. Among them, the US non-farm employment data on the price of gold had a greater impact. Although the unemployment rate fell to the lowest in 16 years, but the US non-farm sector in May the new employment population of 138,000, lower than market expectations, to promote the week to further rise in gold prices.

Earlier, the rate hike is often seen as a negative factor in the gold futures market. Looking back the history is not difficult to find the 2008 international financial crisis since the Fed has raised interest rates three times, each time the first half of the rate hike the gold market are down trend, interest rate decision after the announcement will rebound.

On the other hand, since May the dollar index fell, the yuan, the euro, the yen and other non-US currencies rose to varying degrees, supporting the dollar-denominated gold strengthened.

For the gold trend, the British metal focus company previously released research report, looking to the future, the world’s major economies to maintain the negative interest rate of interest rates will continue to provide support for the price of gold.