SunSir: China's Precious Metal Prices Fell Sharply on October 27
October 28 2021 08:20:17 SunSirs (Linda)
Spot price of precious metals
The average price of silver in the early trading on October 27 was 4,881 yuan/kg, which was an increase of 6.46% compared to the average price of 4,585 yuan/kg in the spot market in early October (October 1); compared with the silver spot price of 5550 yuan/kg at the beginning of the year (01.01) Kg, a decrease of 12.05%.
On October 27, the gold spot market price was 367.64 yuan/g, which was a decrease of 3.3% from the early October (10.1) spot market average price of 380.20 yuan/g in early trading; compared with the beginning of the year (01.01) gold spot price was 392.70 yuan/g, down 6.38%.
October precious metal gold and silver price trend comparison list
The price of silver has fluctuated greatly recently. On the whole, silver’s previous lows have bottomed out and rebounded more strongly.
The dollar index
On the whole, there is little correlation between the price trend of precious metals today and the US dollar index, mainly due to the general decline in the metal sector, which triggered the transmission of market sentiment. The factors affecting the financial attributes of precious metals have weakened.
Recent policy focus
The United States will announce gross domestic product (GDP) on Thursday;
On Friday, the United States will announce the Personal Consumption Expenditure (PCE) price index, which is the Fed’s most popular inflation indicator;
The central bank can focus on the European Central Bank's interest rate decision on Thursday and issue a statement on its monetary policy decision. Determine whether to continue the expansionary policy;
In the longer term, we can pay attention to the Fed's monetary policy meeting from November 2 to 3.
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