SunSirs: On January 23, International Gold and Silver Prices Hit Record Highs

International gold and silver prices both reached all-time highs on the 23rd. The price of spot gold in London briefly surged past $4,959 per ounce, while the price of spot silver briefly touched $96.91 per ounce.

International spot gold prices have broken through $4,959 per ounce, reaching a new historical high, indicating strong market risk aversion and demand, which will directly boost spot and futures prices. Combined with the recent performance of gold futures contracts on the Shanghai Futures Exchange (such as the 2604 contract), with a settlement price of 1,087.9 RMB/gram and a change of +7.82, it indicates that an upward trend has emerged. This event is expected to attract more investment, driving up futures prices and increasing open interest.

London spot silver prices reached a new all-time high of $96.91 per ounce, reflecting strengthening industrial demand and the positive correlation with other precious metals, which is bullish for both the spot and futures markets. Based on Shanghai Futures Exchange silver futures data (such as the 2604 contract), the settlement price was 23,009 RMB/kilogram, with significant trading volume. This event is expected to stimulate a rise in futures prices, leading to increased long positions and boosting market activity.

As an integrated internet platform providing benchmark prices, on January 23, SunSirs’ benchmark price for gold was 1,077.02 RMB/gram, an increase of 10.23% compared to the beginning of the month (977.07 RMB/gram). On January 23, SunSirs’ benchmark price for silver was 22,893.33 RMB/kilogram, a 23.88% increase compared to the beginning of the month (18,480.00 RMB/kilogram).

Application of SunSirs Benchmark Pricing：

Traders can price spot and contract transactions based on the pricing principle of agreed markup and pricing formula (Transaction price=SunSirs price + Markup).

If you have any inquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.