Precious metal prices continued to move down this week
| EDTA |
According to the data of business agency, on March 31, the average early price of silver market was 5001.67 yuan / kg, down 0.69%, down 4.08% from the average early price of 5214.67 yuan / kg in the spot market last Friday; Compared with the spot market price at the beginning of the month (March 1), the early average price was 4928.33 yuan / kg, up 1.49%; 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 4.86%.
On March 31, the spot market price of gold was 393.93 yuan / g, down 0.04% on a daily basis, down 1.51% from the early average price of 399.98 yuan / G on Friday (March 1), and up 1.71% from the early average price of 387.29 yuan / G on 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 5.79%.
Comparison of price trends of precious metal gold and silver in recent 1 year
| Melamine |
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
Leading factors of precious metal prices in the month
Risk aversion triggered by geopolitics & the landing of interest rate increase
The conflict between Ukraine and Russia was fermented from the news to the actual occurrence, detonating the market risk aversion and dominating the early rising market; In June, the interest rate hike of the central bank and the US Federal Reserve landed, superimposed on the decline of risk aversion, and the price of precious metals fell slightly this week.
From the investment data, SPDR gold ETF positions remained unchanged at 1093.18 tons in terms of ETF positions; SLV silver ETF position increased by 57.46 tons to 17236.55 tons. The market investment atmosphere is good.
Future forecast
In the long run, the monetary easing policy is gradually ebbing, and the expectation of raising interest rates is expected to suppress the price of precious metals. In terms of futures, the night trading was favorable due to the conflict negotiation between Russia and Ukraine, and the risk aversion decreased on the news side. In the short term, the upward trend of precious metal prices is weak, there is pressure to increase interest rates on precious metals and inflation support under precious metals. It is expected to be dominated by wide shocks.
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