According to the data of business agency, the spot price of gold on September 29 was 403.78 yuan / g, a decrease of 4.68% compared with the average price of 423.60 yuan / g in the spot market at the beginning of the month (9.1); the spot price of gold was 342.54 yuan / g at the beginning of the year, up 17.88%; the spot price of gold was 331.75 yuan / g, an increase of 21.71% compared with the average price of spot gold in the spot market at the beginning of September 29 (9.1); the spot price of silver was 448 yuan / g when compared with the peak value (8.7) of the year , down 9.87%.
| Melamine |
The average price of silver on September 29 was 5014.33 yuan / kg, which was 19.60% lower than the average price of 6237 yuan / kg in the spot market at the beginning of the month (September 1); the spot price of silver at the beginning of the year (01.01) was 4281.67 yuan / kg, an increase of 14.58%; the spot price of silver was 2942.67 yuan / kg, an increase of 70.40%; compared with the peak value of 8.11, the spot price of silver was 6708.33 yuan / kg , down 25.25%.
US dollar index rebounds strongly and turns green after the end
The reference index of negative correlation of precious metals — the dollar index, rebounded strongly last week and continued to rise for 2 consecutive days this week.
Future forecast
In the early stage, the international market was affected by the strength of the US dollar and the rise of real interest rates, and investors’ preference for precious metals was relatively reduced; after the precious metals experienced a continuous slump after the high horizontal trading, the game between the current profit margin flight and the market bottom fund began, and the market confidence gradually established.
Ye Jianjun, an analyst at the business agency, believes that the monetary easing policies of the major central banks continue, and the price supporting factors are still in place. In addition, geopolitical risk events such as the Sino US situation, the situation in the Taiwan Strait, and the border conflict between China and India frequently occur, narrowing the space for further price reduction of precious metals, and increasing the probability of stabilizing horizontal trading.
| Azodicarbonamide (AC foaming Agent) |
Key indicators for future market
1. The latest US non farm data released on the first Friday of October
2. PMI released at 9:00 on the first working day of October
3. The third quarter GDP data released around October 15
4. Central bank policies and Federal Reserve policies of major economies
5. Brexit trade negotiations, US election debates, and geopolitical game emergencies
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