Annual trend of spot precious metal prices

According to SunSirs data, the spot price of gold on October 30 was 403.78 yuan/g, which was 397.40 yuan/g in early trading at the beginning of the month (10.1), a decrease of 1.80%; compared to the beginning of the year (01.01) gold spot price was 342.54 yuan/g , An increase of 16.02%; compared with the year's valley (3.19) gold spot price of 331.75 yuan/g, an increase of 19.79%; compared with the year's peak (8.7) silver spot price of 448 yuan/g, a decrease of 11.29%.

The average silver market price on October 30 was 4,947.33 yuan/kg, which was a drop of 1.47% compared with the early spot market price at the beginning of the month (October 1) of 5,021 yuan/kg; compared with the silver spot price at the beginning of the year (01.01), 4,281.67 yuan/kg, The increase was 13.05%; compared with the year's trough (3.19) silver spot price of 2,942.67 yuan/kg, an increase of 68.12%; compared with the year's peak (8.11) silver spot price of 6,708.33 yuan/kg, a decrease of 26.25%.

Domestic market

In October, the domestic precious metal gold and silver prices were mainly consolidating. Affected by the external market during the National Day holiday, the precious metal prices returned after the holiday after the supplementary increase, and the price of precious metals corrected slightly. At the end of the month, it fell for two consecutive months. . According to data from the business agency, the monthly decline of the gold spot price in September was 4.47%, and the monthly decline of the silver spot price was 19.50%.

In October, the monthly decline in precious metal prices narrowed from the previous month, and the precious metal band prices stabilized.

Summary

Short-term precious metal prices stop falling and consolidate

1. At the European Central Bank meeting, Lagarde was relatively pessimistic about the outlook for the European economy. In addition to the risk aversion caused by the policy increase in December and the approach of the US election, the monetary easing policies of major central banks continued, and the price support factors were still there. , The Sino-US situation, the Taiwan Strait situation and other geopolitical risk events frequently occur, and the space for further downward adjustment of precious metal prices has narrowed, and the probability of stable sideways operation has increased.

2. After the price has been adjusted downward in the past two days, it is basically close to the bottom of the price in September, the downward space is narrowed, and the consolidation range is in place.

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