Summary of spot price trend of precious metals

According to the data of business agency, on November 30, the average early trading price of silver market was 4717.33 yuan / kg, a decrease of 2.63% compared with the average early trading price of spot market at the beginning of the month (November 1); Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 14.99%.

On November 30, the spot market price of gold was 370.19 yuan / g, down 0.42% from the spot market price of 369.60 yuan / g at the beginning of the month (11.01); Compared with the spot price of gold at the beginning of the year (01.01), 392.70 yuan / g, down 6.28%.

Comparison of precious metal gold and silver price trends in recent 1 year

The convergence of precious metal gold and silver is relatively good, the price amplitude of silver is large, and the direction is basically the same. Recently, at the end of September, the price of silver fell rapidly, and the rise and fall of precious metal prices converged. After the return of the national day, the price of silver hit the bottom and rebounded, and the fluctuation amplitude of silver price was large. According to the annual rise and fall, the rise and fall of precious metals are converging at present.

Price trend of precious metals and crude oil

Last Friday, affected by the panic of the mutational epidemic in South Africa, the superposition of the dumping of US strategic reserves led to the release of multinational crude oil reserves to the market, affected the supply of crude oil market, suppressed the sharp decline in crude oil prices to a certain extent, and the risk commodities fell sharply. The hedging function of precious metals was highlighted. With the easing of sentiment, the price of precious metals fell slightly.

Message surface

The FOMC meeting minutes in November released by the Federal Reserve, the expectation of “raising interest rates in advance” and the expectation of accelerating the reduction of bond purchase rose, and the price of precious metals was suppressed to some extent last week. On Friday, South Africa’s COVID-19 variety news, superimposed crude oil storage and distribution of information, causing risk assets to move down, boosting the precious metals’ hedging needs.

On the whole, the monetary policies of governments tend to reduce stimulus measures, and raising interest rates will often push up bond yields and increase the opportunity cost of holding non interest bearing asset gold; With the disappearance of the epidemic panic, the precious metal market corrected sharply today. It is expected that the rising space of precious metal prices will narrow in the short term, dominated by weak volatile market.