SunSirs: Precious Metal Prices Fell Slightly on August 3
August 04 2022 08:43:25 SunSirs (John)
Price trend
According to the data of SunSirs, the average price of the silver market in the early trading on August 3 was 4,361.67 RMB/kg, which was 1.60% lower than the average price of 4,432.677 RMB/kg in the early trading of the spot market at the beginning of the month (August 1). Compared with the beginning of the year (January 1), the average price of the spot market price in the early trading was 4,770 RMB/kg, a decrease of 8.56%.
On August 3, the spot market price of gold was 385.53 RMB/gram, an increase of 0.94% compared with the early morning average price of the spot market price at the beginning of the year (August 1) of 381.93 RMB/gram; and an increase of 3.53% compared with the early morning average price of 372.37 RMB/gram in the spot market at the beginning of the year (January 1).
Analysis review
From a long-term perspective, the price trend of precious metals has a good convergence, the long-term trend is basically the same, and the amplitude is slightly different.
Affected by geopolitical factors between China and the United States, the uncertainty caused by the previous visit of the US House of Representatives Speaker Nancy Pelosi to Taiwan has triggered a rise in risk aversion.
Market outlook
Precious metal prices retreated after Pelosi's visit to Taiwan became an established fact. After the price of precious metals stagnates, there is a high probability of returning to the fundamentals of the interest rate hike environment in the later period.
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