1. Spot precious metal price trends

According to data from SunSirs, the average price of silver in the early trading market on December 17 was 5,215.67 yuan/kg, which was an increase of 10.62% compared with the average early trading price of the spot market at the beginning of the month (December 1) of 4,715 yuan/kg; compared with the beginning of the year (01.01) silver spot price The price was 4,376.33 yuan/kg, an increase of 19.18%; compared with the year's trough (3.19) silver spot price of 2,942.67 yuan/kg, an increase of 77.24%; compared with the year's peak (8.11) silver spot price of 6,708.33 yuan/kg, a decrease of 22.25%.

The spot price of gold on December 17 was RMB 387.04/g, which was an increase of 3.84% from the average spot market price at the beginning of the month (12.1) of RMB 372.71/g, which was an increase of 12.99% from the spot price of gold at the beginning of the year (01.01) of RMB 342.54/g. ; Compared with the year's trough (3.19) gold spot price of 331.75 yuan/g, an increase of 16.67%; compared with the year's peak (8.7) silver spot price of 448 yuan/g, a decrease of 13.61%.

2. News

1) The Fed's comments are in line with market expectations

On Wednesday, the US Federal Open Market Committee (FOMC) maintained the target range of the federal funds rate at 0-0.25%, in line with market expectations.

2) The U.S. dollar is relatively weaker

The dollar index fell, and the negative correlation was prominent.

3) Bitcoin drives the convergence effect

Bitcoin skyrocketed during the day, and once set a record high above $22,000, an amazing increase.

3. Market outlook

After the precious metal prices bottomed out in December and rebounded, after two consecutive waves at the beginning of the month and the middle of the month, the current price is close to the peak in November. The risk aversion brought by the vaccine news in November and the defensive withdrawal of funds were caused. The price decline has basically pulled back.

At present, the CME gold price stands at US$1880-1890 per ounce, and the price of CME silver hits US$26 per ounce, both in the early shock range. The relative resistance level will increase the long-short game in the market outlook.

The news is focused on the development of the epidemic and vaccine progress in the cold winter.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.