Summary of spot price trend of precious metals

According to the data of business agency, the average price of silver market in early trading on October 28 was 4905.33 yuan / kg, up 0.50% from yesterday’s average price of 4881.00; Compared with the early average price of 4585 yuan / kg in the spot market in early October (October 1), an increase of 6.99%; Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 11.62%.

On October 28, the spot market price of gold was 371.03 yuan / g, up 0.92% from yesterday’s spot market price of 367.64 yuan / g, down 2.41% from the early average price of 380.20 yuan / g in the spot market in early October (10.1); Compared with the spot price of gold at the beginning of the year (01.01), 392.70 yuan / g, down 5.52%.

Comparison of precious metal gold and silver price trends in October

Recently, the fluctuation amplitude of silver price is large. On the whole, silver is at a low level in the early stage, and the rebound is stronger.

At present, the price of precious metals is affected by the Asian trading period, the decline of Asian stocks, the sharp green of domestic bulk commodities and the rising market risk aversion, which is beneficial to the precious metal market to a certain extent.

Superimposed on the geopolitical aspect, the FCC voted to revoke the business operation license of China Telecom Americas in the United States, and there are many bad factors on the road of China US relations. Risk aversion has accumulated.

On the demand side of fundamentals, the total demand for gold decreased in the third quarter, but the global central bank net bought 69 tons, the global gold ETF position decreased by 27 tons, and its total position remained at a high level of 3592 tons; The global demand for gold bars and gold coins was 262 tons, a year-on-year increase of 18% and a month on month increase of 8%. Recently, the demand for gold investment has weakened, but the physical demand has improved.

If there is no emergency, the recent stable and volatile operation of precious metal prices is mainly. Focus on the following news in the future:

Recent policy focus

19:45 Hong Kong time on Thursday; The European Central Bank will announce the interest rate resolution; European Central Bank President Christine Lagarde will hold a press conference at 20:30 Hong Kong time on Thursday.;

On Friday, the United States will release the personal consumption expenditure (PCE) price index, which is the Fed’s favorite inflation index;

In the longer term, we can focus on the Fed’s monetary policy meeting from November 2 to 3.