Summary of spot price trend of precious metals

 

According to the data of business agency, on March 14, the average early price of silver market was 5099.33 yuan / kg, down 0.66%, up 3.47% from the average early price of 4928.33 yuan / kg in the spot market at the beginning of the month (March 1); Compared with the spot market price at the beginning of the year (January 1), the early average price was 4770 yuan / kg, an increase of 6.90%.

 

On March 14, the spot market price of gold was 402.23 yuan / g, a daily drop of 0.64%, up 3.86% from the early average price of 387.29 yuan / g in the spot market at the beginning of the month (March 1); Compared with the spot market price at the beginning of the year (January 1), the early average price was 372.37 yuan / kg, an increase of 8.02%.

 

PVA 0599 (PVA BF05)

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

 

In the long term, the price trend of precious metals has a good convergence, and the long-term trend is basically the same. Today, the price deviates.

 

Price trend of precious metals and crude oil

 

List of policies

 

The central bank today conducted a 10 billion yuan reverse repurchase operation, and the bid winning interest rate was 2.1%, unchanged from the last time. Another 10 billion yuan of reverse repo expired today.

 

Future forecast

 

In the long run, the monetary easing policy is gradually ebbing, and the expectation of interest rate hike suppresses the continuous rise of precious metal prices. In the short term, precious metals are likely to continue to rise, but there is an upper limit.

 

Recent macro data of concern include:

 

Monday: to be determined the annual rate of China’s total electricity consumption in February and China’s total electricity consumption in February; 15: 45 France January trade account;

 

Tuesday: 15:00 UK January three-month ILO unemployment rate, UK February unemployment rate, UK February unemployment benefit applicants; 15: 45. Monthly CPI rate of France in February; 18: 00 German ZEW Economic Prosperity Index in March, euro zone ZEW Economic Prosperity Index in March, euro zone monthly industrial output rate in January; 20: 30 US February PPI monthly rate, us march New York Fed Manufacturing index;

 

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Wednesday: API crude oil inventory in the week from 04:30 to March 11 in the United States; 20: 30. The monthly CPI rate of Canada in February, the monthly wholesale sales rate of Canada in January, the monthly retail sales rate of the United States in February, and the monthly import price index rate of the United States in February; 22:00 us march NAHB real estate market index and US January commercial inventory rate; 22:30 EIA crude oil inventory of the week from the United States to March 11 and EIA strategic oil reserve inventory of the week from the United States to March 11;

 

Thursday: from 02:00 to March 16, the Federal Reserve’s interest rate decision; 08:30 Australian February seasonally adjusted unemployment rate; 15: 00 Swiss February trade account; 18: 00 euro zone February CPI annual rate and euro zone February CPI monthly rate; 20: UK Central Bank’s interest rate decision from March 17; 20: 30. The number of initial jobless claims in the week from March 12, the annualized total number of new housing starts in February, the total number of construction permits in February, and the Philadelphia Fed Manufacturing index in March; 21:15 monthly industrial output rate of the United States in February; 22:30 EIA natural gas inventory of the week from the United States to March 11;

 

Friday: 07:30 Japan February core CPI annual rate; 11: The yield target of 10-year Treasury bonds from Japan to March 18 and the interest rate decision of the Central Bank of Japan to March 18; 18: 00 euro zone quarter adjusted trade account in January; 18: 30. The interest rate decision of the Central Bank of Russia from March 18; 20: 30 Canadian retail sales rate in January; 22:00 annualisation of the total number of existing home sales in the United States in February, and the monthly rate of leading indicators of the American Chamber of Commerce in February; Saturday: the total number of oil wells drilled in the week from 01:00 to March 18 in the United States.

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