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SunSirs: In December 2021, Precious Metals Market in China will Pick up Slightly, Overall Upward Trend will remain Unchanged in the Short Term
January 04 2022 08:42:33SunSirs(Linda)

The average price of silver in the early trading on December 31 was 4770 yuan/kg, which was an increase of 2.51% from the average early-month (December 1) spot market price of 4,653 yuan/kg; compared with the silver spot price of 5550 yuan/kg at the beginning of the year (01.01) , A decrease of 14.05%.

On December 31, the spot market price of gold was 372.36 yuan/g, which was an increase of 1.62% from the early-December (12.1) spot market price of 366.42 yuan/g in early trading; it was down from 392.70 yuan/g at the beginning of the year (01.01). 5.18%.

Precious metal gold and silver price trend comparison in the past year

The precious metals gold and silver have relatively good convergence, and the price of silver has a larger amplitude, and the direction is basically the same. After the recent price drop, the price of silver consolidated at a low level and began to repair.

As of December 31, the intra-year correlation between precious metals gold and silver was 0.614.

Precious metals and crude oil price trends

As of December 31, the intra-year correlation between precious metal gold and crude oil was -0.436, which was a weak correlation during the year.

As of December 31, the intra-year correlation between precious metal gold and crude oil was -0.551, which was a weak correlation during the year.

The main reason for the price recovery in December

With the implementation of TAPER expectations that suppressed the price of gold, the short-term bad news rebounded completely, and the impact of the European energy crisis was superimposed on the market's concerns about inflation, and the low level of gold and silver rebounded.

Although the number of initial jobless claims in the United States hit a low level in nearly 50 years last week, the U.S. job market continued to improve. Chicago’s PMI rebounded in December, indicating that the Omi Keron strain had limited impact on the U.S. economy; the European Central Bank’s management committee has been responsible for policy revenue. Keeping the news tight, Holzmann said that it will introduce negative interest rates and unconventional monetary policies next year, while Knot said that interest rate hikes may be in 2023, and it will also be unfriendly to precious metal prices.

Precious metal prices are expected to decline slightly in the near future, which also shows that the game between long and short factors has intensified. Inflation expectations are still the dominant factor, and the overall upward trend will remain unchanged in the short term.

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