Precious metal spot price trends

The average price of silver in the early trading on November 30 was 4717.33 yuan/kg, compared with the average price of 4846 yuan/kg in the spot market at the beginning of the month (November 1), a decrease of 2.63%; compared with the spot price of silver at the beginning of the year (01.01), 5550 yuan/kg , A decrease of 14.99%.

On November 30, the gold spot market price was 370.19 yuan/g, down 0.42% from the beginning of the month (11.01) spot market price of 369.60 yuan/g; compared with the beginning of the year (01.01) gold spot price was 392.70 yuan/g, down 6.28%.

The price trend of precious metals, gold and silver 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. Recently, the price of silver has fallen rapidly at the end of September, and the price of precious metals has risen and fallen in the same range. After the return of the National Day, the price of silver has bottomed out and the price of silver has fluctuated greatly. Judging from the year-on-year fluctuations, the current ups and downs of precious metals are converging.

Precious metals and crude oil price trends

Last Friday, affected by the panic impact of the variant epidemic in South Africa, the US strategic reserve dumped its reserves, which drove the release of crude oil reserves from many countries to the market, affecting the crude oil market supply, suppressing the plummet of crude oil prices to a certain extent, falling risk commodities, and highlighting the function of precious metals for hedging and hedging. , As the mood eased, the price of precious metals fell slightly.

Info

The minutes of the November FOMC meeting announced by the Federal Reserve, the expectation of "early interest rate hikes" and the accelerated reduction of debt purchase expectations rose, and precious metal prices were suppressed to a certain extent last week. On Friday, the South African new crown virus variant news surface, superimposed on the crude oil reserve news surface, triggered a downward shift in risky assets, boosting the hedging demand for precious metals.

On the whole, the monetary policies of various governments have a tendency to reduce stimulus measures, and interest rate hikes tend to push up the yield of public bonds and increase the opportunity cost of holding non-interest-bearing asset gold; as the panic of the epidemic disappears, the precious metal market has pulled back sharply today. It is expected that the upside of precious metal prices will be narrowed in the short term, with weak and fluctuating prices dominated.

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