Overview of spot price trend of precious metals
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According to the data from the business community, the average early price of silver market on December 21 was 5380.67 yuan/kg, up 3.39% daily, 6.02% higher than the average early price of spot market at the beginning of the month (December 1), 5065.33 yuan/kg; The average price of spot market at the beginning of the year (January 1) was 4770 yuan/kg, an increase of 12.80%.
On December 21, the spot market price of gold was 408.25 yuan/g, up 0.93% on a daily basis, 0.86% higher than the early average price of 405.91 yuan/g in the spot market at the beginning of the month (December 1); Compared with the early average price of 372.37 yuan/kg in the spot market at the beginning of the year (January 1), the increase was 9.95%.
Price trend of precious metals and crude oil
Reasons for the recent strength of precious metals
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In the near future, the overall trend of strengthening precious metal monetary attributes and superimposing nonferrous sectors is still in the upward channel, and the physical demand for silver also supports the silver price to a certain extent; On the policy side, the US dollar fell. The Bank of Japan decided to review its yield curve control policy, pushing the exchange rate of the Japanese yen against the US dollar to a four month peak. As the Western Central Bank led by the Federal Reserve curbed the unsustainable inflation through radical interest rate hikes, the market expected the Federal Reserve to slow down the pace of interest rate hikes, and the policy side increased the attractiveness of capital to precious metals.
Silver performs better than gold
Comparison of precious metal gold and silver price trends in recent one year
In the long term, the trend of precious metal prices tends to be the same, with slightly different amplitudes. Recently, silver has gained a relatively large amount.
Future market of precious metals
At present, the obvious performance of the US economy entering recession is increasing, including the shrinking of manufacturing industry prosperity and the rising number of enterprise layoffs. The space for the Federal Reserve to raise interest rates is gradually narrowing, and the increase of interest rates depresses the price of precious metals. However, recently, the monetary attribute of precious metals has been strengthened, supporting precious metals to a certain extent. In the short term, it is expected that the overall volatility of the precious metals market will be dominated in the short term.
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