According to the data of business agency, the average price of silver market in early trading on April 7 was 4963 yuan / kg, down 0.85% from the average price of 5005.33 yuan / kg in spot market at the beginning of the month (April 1); Compared with the early trading average price of 4770 yuan / kg in the spot market at the beginning of the year (January 1), an increase of 4.05%.
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On April 7, the spot market price of gold was 393.85 yuan / g, down 0.28% from the early average price of 394.96 yuan / g at the beginning of the month (April 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 5.77%.
Comparison of price trends of precious metal gold and silver in recent 1 year
In the long term, the price trend of precious metals tends to be similar, the long-term trend is basically the same, and the amplitude is slightly different.
Price trend of precious metals and crude oil
List of policies
1. Domestic aspect
On the 7th, the central bank conducted a 7-day reverse repurchase operation of 10 billion yuan, and the bid winning interest rate was 2.10%, which was the same as before. As 150 billion yuan of reverse repo expired today, a net return of 140 billion yuan was realized on that day.
2. International aspects
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Poland’s central bank raised its key interest rate to 4.5%, expected to be 4%.
According to the Central Bank of Belarus, Belarus’s international foreign exchange reserves fell 8.4% in March. Belarus’s reserves fell to $7.57 billion as of April 1.
The interest rate difference between China and the United States fell below 20 BP, which is far from the “comfort range” of 80bp to 100bp previously agreed by the market, and has reached a historically low level. The key indicator of China US interest rate spread is an important consideration for changes in global capital flows, monetary policy collection and release, and the trend of RMB exchange rate. Industry insiders believe that under the differentiation of China US monetary policy, the narrowing of China US interest rate spread is still a trend, and upside down may also occur. However, the impact of this on global capital allocation mainly stays at the short-term emotional level, and does not constitute an obvious constraint on monetary regulation. The RMB exchange rate will remain stable.
Future forecast
In the long run, the monetary easing policy is gradually ebbing, and the Fed’s expectation of raising interest rates is expected to suppress the price of precious metals. In the short term, the risk aversion of precious metals has gradually subsided, and the upward trend of precious metal prices is weak.
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