Price trend

On April 23rd, the price of precious metal gold fell from its high point. According to the Commodity Market Analysis System of SunSirs, as of April 23, 2024, the spot market price of gold was 544.8 RMB/gram, a daily decrease of 3.12%.

On April 23rd, the price of precious metal silver fell from its high point. According to the Commodity Market Analysis System of SunSirs, the average price of silver in the market on April 23, 2024 was 7,011 RMB/kg, a decrease of 4.50% compared to the previous day's (April 22) average price of 7,341.33 RMB/kg in the silver market.

Motivation factors for high-level diving of precious metals

In the early stage, the supporting factors for precious metal news began to loosen, and after adding to the high price, the demand for profit taking in the capital market surged. The specific reasons were as follows:

1. The geopolitical tension was gradually easing, and the market's risk aversion was cooling down;

2. The repeated postponements of interest rate cuts by the Federal Reserve had made the market realize that there were variables in the expected rate cuts, and the tolerance for macro news to fall short of expectations has decreased;

3. The demand for profit taking in speculative markets had significantly increased, and the selling pressure on precious metals had increased.

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