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SunSirs: China's Precious Metal Prices Return to Rising in December
December 31 2020 09:17:37SunSirs(Linda)

1. Spot precious metal price trends

According to data from SunSirs, the average price of silver in the early trading on December 30 was 5,477.67 yuan/kg, compared with the average price of 4,715 yuan/kg in the spot market at the beginning of the month (December 1), an increase of 16.18%; compared with the beginning of the year (01.01) silver spot price The price was 4,376.33 yuan/kg, an increase of 25.17%; compared with the year's trough (3.19) silver spot price of 2,942.67 yuan/kg, an increase of 86.15%; compared with the year's peak (8.11) silver spot price of 6,708.33 yuan/kg, a decrease of 18.35%.

The spot price of gold on December 30 was 391.30 yuan/g, which was an increase of 4.99% from the average early-month (12.1) spot market price of 372.71 yuan/g, an increase of 4.99%; compared with the beginning of the year (01.01) gold spot price of 342.54 yuan/g, an increase of 14.23% ; Compared with the year's trough (3.19) gold spot price of 331.75 yuan/g, an increase of 17.19%; compared with the year's peak (8.7) silver spot price of 448 yuan/g, a decrease of 12.66%.

2. The main reason for precious metal prices to return to rising in December

The development of overseas epidemics in the winter has not been significantly curbed, especially the discovery of new virus strains, coupled with poor data on the number of confirmed cases, resulting in a significant reduction in the expected benefits of the vaccine.

On the policy side, the United States signed the US$2.3 trillion rescue plan to legislate on the news that the US dollar has continued to depreciate, and the demand for gold's anti-inflation and hedging value has surged.

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

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