The decline of precious metal prices in October narrowed month on month

According to the data of business agency, the spot price of gold on October 30 was 403.78 yuan / g, a decrease of 1.80% compared with the average price of 397.40 yuan / g in the spot market at the beginning of the month (10.1); the spot price of gold was 342.54 yuan / g at the beginning of the year, up 16.02%; the spot price of gold was 331.75 yuan / g, up 19.79% compared with the peak price of (8.7) silver in the year/ G, down 11.29%.

 

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On October 30, the average price of silver market was 4947.33 yuan / kg, a decrease of 1.47% compared with the average price of spot market at the beginning of the month (October 1); the spot price of silver at the beginning of the year (01.01) was 4281.67 yuan / kg, an increase of 13.05%; the spot price of silver was 2942.67 yuan / kg, up 68.12%; compared with the peak price of 8.11, the spot price of silver was 6708.33 yuan / kg , down 26.25%.

 

Domestic market:

 

Spot price of precious metals rose and fell in Shanghai Gold Exchange:

 

1. The benchmark price trend of “Shanghai gold” in October morning and afternoon:

 

2. The benchmark price trend of “Bank of Shanghai” in October morning midday trading was as follows:

 

The price of precious metal futures rose and fell in Shanghai Futures Exchange:

 

1. Price trend of gold main contract in October:

 

2. Price trend of main contract of silver in October:

 

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In October, domestic precious metal gold and silver prices were mainly consolidated. Affected by the external market during the National Day holiday, the prices of precious metals returned to the market after the National Day holiday. After that, the prices of precious metals returned to the consolidation operation slightly and fell continuously at the end of the month, with a slight downward fluctuation as a whole, which was significantly narrowed than that in September. According to business agency data, the monthly decline of gold spot price was 4.47%, and that of silver was 19.50%.

 

In October, the monthly decline of precious metal prices narrowed month on month, and the price of precious metal band stabilized.

 

See Jun’s point of view:

 

Short term precious metal prices stop falling and consolidate

 

One At the meeting of the European Central Bank, Lagarde was more pessimistic about the European economic prospects. In addition, due to the risk aversion sentiment driven by the policy of overweight in December and the approaching election in the United States, the monetary easing policies of the major central banks continued, and the price supporting factors were still in place. In addition, the geopolitical risk events such as the Sino US situation and the situation in the Taiwan Strait were frequent, and the precious metal prices were further reduced and stabilized The probability of horizontal running is increased.

 

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

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