Summary of spot price trend of precious metals

According to the data of business agency, the average early trading price of silver market on November 10 was 4902 yuan / kg, an increase of 8.16% compared with the average early trading price of 4585 yuan / kg in the spot market at the beginning of October (October 1); Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 10.65%.

On November 10, the spot market price of gold was 376.46 yuan / g, an increase of 1.22% over the spot market price of 370.51 yuan / G on Monday, and an increase of 3.58% over the early average price of 380.20 yuan / g in the spot market price in early October (10.1); Compared with the beginning of the year (01.01), the spot price of gold was 392.70 yuan / g, down 4.14%.

Comparison of precious metal gold and silver price trends in recent 3 months

The convergence of precious metal gold and silver is good. At the end of September, the price of silver decreased rapidly. After the return of the national day, the price of silver hit the bottom and rebounded. The fluctuation amplitude of silver price is large, the price trend of gold and silver tends to be narrow, and the recent price fluctuation of silver is relatively stable.

Future expectations

From the perspective of the external futures market, there is a relative resistance level near us $25.00/oz for Bank of America and US gold at US $1840 / oz. Recent disk prices are close to the region, or there may be potential expectations of falling shocks.

In terms of news, according to the recently released domestic data, China’s M2 money supply increased by 8.7% year-on-year in October, 0.4 percentage points higher than that at the end of last month, which is expected to be 8.30%, compared with the previous value of 8.30%. The money supply data in the domestic market was good, but the increase of PPI expanded in October due to the combination of international input factors and tight supply of domestic main energy and raw materials. On a month on month basis, PPI rose by 2.5%, an increase of 1.3 percentage points over the previous month. From a year-on-year perspective, PPI rose by 13.5%, an increase of 2.8 percentage points over the previous month. The domestic data in October basically supported and confirmed the market trend of precious metals in the same period in October.