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SunSirs: Brief Introduction of Precious Metal Market in 2019

January 06 2020 10:34:26     SunSirs (Linda)

In 2019, the price of precious metals was strong. According to the data of business agency, the annual growth rate of precious metal gold in 2019 was 20.57%, silver. The annual increase was 20.97%. The price of domestic precious metals took off in May and fluctuated after September. During the year, it was greatly influenced by international policies, mainly reflected in the demand for gold ETF and the gold reserve of central banks in the third quarter. The international gold price led the domestic price market. It is reported that the gold output in the first three quarters of this year was 2583.4 tons, and the total gold recovery in the first three quarters was 963 1 ton, a year-on-year increase of more than 8%, with stable domestic supply of precious metals. On the demand side, affected by the rising price, the demand for domestic ornaments decreased slightly. In the later stage, it is mainly concerned about the change of international trade environment and whether monetary policies of central banks are loose. It is expected that the demand for risk aversion will still exist in 2020, and precious metals have little room for downside.

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