Summary of spot price trend of precious metals
| Polyglutamic acid agricultural grade |
According to the data of business agency, on December 24, the average early price of silver market was 4785 yuan / kg, an increase of 0.99% compared with the average early price of spot market price of 4738 yuan / kg last Monday (December 17); compared with the average early price of spot market price of 4653 yuan / kg in early December (December 1), an increase of 2.84%; compared with the beginning of the year (January 01), the spot price of silver was 5550 yuan / kg, a decrease of 13.78%.
On December 24, the spot market price of gold was 372.58 yuan / g, an increase of 0.80% compared with the spot market price of 369.63 yuan / g last Monday (December 17), an increase of 1.68% compared with 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 (January 1), a decrease of 5.12%.
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 and low consolidation, it began to repair.
Price trend of precious metals and crude oil
Today’s domestic macro policy factors
The Central Bank of China today conducted a 7-day reverse repo of 10 billion yuan, with a bid winning interest rate of 2.2%, unchanged from the last time, and another 14 day reverse repo of 10 billion yuan, with a bid winning interest rate of 2.35%, unchanged from the last time. Today, another 10 billion yuan of reverse repurchase expired, with a 7-day period.
US data for November
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In November, the overall PCE price index of the United States rose by 5.7% year-on-year, the same as 5.7%, the highest level since June 1982; The US core PCE price index rose 4.7% year-on-year in November, higher than the expected 4.5%, a new high since 1989.
The number of initial claims for unemployment benefits in the United States in the week to December 18 recorded 205000, which was consistent with expectations and basically the same as 206000 in the previous week.
New home sales in the United States increased by 12.4% month on month in November, reaching an annualized total of 744000 households. Although it was lower than the expected 770000 households, it was also the highest level since April this year. Meanwhile, the final value of the U.S. December University of Michigan consumer confidence index recorded 70.6, slightly higher than the expected 70.4.
Recent news:
1. Biden’s vote on the fiscal stimulus plan was postponed, concerns about the slowdown of economic growth increased, and the precious metals as a whole were still in a volatile trend.
2. The Bank of England is expected to increase interest rates.
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. Although the Bank of England is expected to increase interest rates, the US dollar index has dropped, and on the whole, precious metal prices have warmed slightly.
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