According to business agency data, on November 27, the spot price of gold was 378.50 yuan / g, down 4.76% compared with the average price of 397.40 yuan / g in the spot market at the beginning of the month (11.1); the spot price of gold was 342.54 yuan / g at the beginning of the year, up 10.50%; the spot price of gold was 331.75 yuan / g, up 14.09%; compared with the peak value (8.7) in the year, the spot price of silver was 448 yuan/ G, down 15.51%.
| Melamine |
On November 27, the average price of silver market was 4839 yuan / kg, which was 4947.33 yuan / kg at the beginning of the month (November 1), a decrease of 2.19%; compared with the beginning of the year (01.01), the silver spot price was 4376.33 yuan / kg, up 10.57%; the silver spot price was 2942.67 yuan / kg, up 64.44%; compared with the peak value (8.11) of the year, the spot price of silver was 6708.33 yuan / kg , down 27.84%.
Noble metals continue weak stability
Good news from overseas vaccines has greatly weakened the biggest source of risk aversion sentiment in the market this year. Since the peak value of precious metal prices reached in the middle and early August, some profit-making funds have begun to operate steadily in the third quarter of 2020, including some central banks, such as Uzbekistan and Turkey.
According to the world gold association, in the third quarter of 2020, central banks sold 12 tons of gold, the second quarter in nearly 10 years. In the third quarter of 2020, the total global gold ETF positions reached a new record of 3880.0 tons, of which the net inflow in the third quarter was 272.5 tons. The growth rate of gold ETF positions in the third quarter was lower than that in the first half of the year.
After the third quarter, the investment fever of precious metals has actually begun to slow down. The current round of Dayang market driven by investment demand has started to divert.
After the price of precious metals moved down, the current horizontal volatility operation. On the one hand, the monetary easing policies of the major central banks continue, and the price supporting factors are still there; in addition, geopolitical risk events such as the Sino US situation and the Taiwan Strait situation occur frequently, and the possibility of small band risk aversion in emergencies still exists, and the downward space is narrowed. On the other hand, the capital risk preference of the market rose in November, and other domestic markets such as the stock market and futures market showed a significant unilateral upward trend, and the price of precious metals was under more pressure.
Recent news: China Merchants Bank: since November 28, the bank has suspended the application of opening trading accounts for new customers of two-way paper gold and silver, solid paper gold and silver, zhaocaijin business (acting for the business of Shanghai Gold Exchange) from all channels of our bank (including counter, mobile banking, online banking, Zhaoyin Huijin app, etc.), so that the normal transactions of customers who have opened accounts will not be affected.
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