Summary of spot price trend of precious metals

According to the data of business agency, on December 21, the average early price of silver market was 4681.67 yuan / kg, a decrease of 0.52% compared with the average early price of 4706 yuan / kg in the spot market on Monday (December 17); compared with the spot price of 5550 yuan / kg at the beginning of the year (01.01), a decrease of 15.65%.

On December 21, the spot market price of gold was 368.98 yuan / g, down 0.61% from the spot market price of 371.25 yuan / G on Monday (December 20), up 0.70% from the early average price of 366.42 yuan / g in the spot market price in early December (December 1); compared with the spot market price of 392.70 yuan / g at the beginning of the year (01.01), down 6.04%.

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. After the recent silver price reduction, it was adjusted at a low level.

Price trend of precious metals and crude oil

Today’s macro policy factors

On December 21, 2021, the people’s Bank of China successfully issued RMB 5 billion six-month central bank bills in Hong Kong, with a bid winning interest rate of 2.50%. The bid winning interest rate of 7-day reverse repurchase operation in the open market was 2.2%, and the bid winning interest rate of 14 day reverse repurchase operation was 2.35%, which were the same as before.

Recent long short logic of precious metals

Recently, with the landing of taper expectation to suppress gold prices, the FOMC meeting of the Federal Reserve announced to accelerate debt reduction, and the precious metal rebounded rapidly after bottoming. The precious metal was supported by risk aversion and “boots landing” in the short term. However, the Fed’s expectation of raising interest rates is still the pressure on gold and silver.