Precious metals gold and silver prices

According to data from SunSirs, the average price of silver in the early trading on January 29 was 5,352.67 yuan/kg, compared with the average price of 5550 yuan/kg in the early trading of the spot market at the beginning of the month (January 1), a decrease of 3.56%; compared with the valley value of 2020 (3.19 ) The silver spot price was 2,942.67 yuan/kg, an increase of 81.90%; compared with the 2020 peak (8.11) silver spot price of 6,708.33 yuan/kg, it was a decrease of 20.21%.

On January 29, the spot price of gold was 383.75 yuan/g, which was 2.28% lower than the average early-month (1.1) spot market price of 392.70 yuan/g; it was up from 331.75 yuan/g to the 2020 valley (3.19) gold spot price. Compared with the peak (8.7) silver spot price of 448 yuan/g during the year, it is down 14.34%.

Is the 'spotted' silver going to part ways with brother gold?

Silver pulled up in the night trading on the 28th, and the price of gold was relatively sluggish. Market rumors showed that recently US retail investors began to turn their subject matter into silver. Although there is no factual basis, the above chart shows that the silver price volatility is much higher than its trend twin brother gold. Fortunately, this trend has been shown to the full in mid-March and early August of 2020, and silver has soared and plummeted. The speculative attribute of is stronger.

According to data from the Shanghai Gold Exchange, in 2020, the silver transaction value was 20.75 trillion yuan, an increase of 186.19% year-on-year, and the transaction volume was 4.2147 million tons, an increase of 136.78% year-on-year; the gold transaction value was 22.55 trillion yuan, an increase of 4.91% year-on-year, and the transaction volume was 5.87 10,000 tons, down 14.44% year-on-year.

The Fed's policy expects the market outlook is uncertain

The price trend of precious metals in January was generally weak. Silver stabilized at the end of the month and the upside was obvious, and the market outlook was uncertain. On the one hand, the Fed has issued policies within expectations, the US dollar index is relatively high, and precious metals are slightly under pressure; on the other hand, retail investors are enthusiastic about trading expectations, and the market has entered a period of entrapment.

Recent data

The global annual demand for gold in 2020 (excluding over-the-counter transactions) is 3,759.6 tons, a year-on-year decrease of 14%, and is less than 4,000 tons for the first time since 2009; the inflow of gold ETFs in 2020 hit a record high, totaling 877.1 tons (approximately 47.9 billion) USD), the global asset management scale reached 3,751.5 tons; the total demand for gold bars and gold coins in 2020 was 896.1 tons, a year-on-year increase of 3%; the total global demand for gold jewellery in 2020 was 1,411.6 tons, a year-on-year decrease of 34%; the total demand for central banks in 2020 was 273 tons, a year-on-year decrease of 59%; the total demand for gold for science and technology in 2020 is 301.9 tons, a year-on-year decrease of 7%; the total global gold supply in 2020 is 4,633 tons, a year-on-year decrease of 4%; the total amount of gold recovered in 2020 is 1,297.4 tons, A slight increase of 1% year-on-year.

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