Overview of precious metal spot price trend
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According to the data of business agency, the average price of silver market in early trading on June 30 was 4494 yuan / kg, which was 4.19% lower than the average price of spot market at the beginning of the month (June 1), 4642 yuan / kg; Compared with the spot market price at the beginning of the year (January 1), the average price in early trading was 4770 yuan / kg, a decrease of 5.79%.
On June 30, the spot market price of gold was 392.50 yuan / g, a daily decrease of 0.24%, a decrease of 0.77% compared with the early average price of 395.54 yuan / g in the spot market at the beginning of the month (June 1); Compared with the spot market price at the beginning of the year (January 1), the average price in early trading was 372.37 yuan / kg, a decrease of 5.41%.
Comparison of precious metal gold and silver price trends in recent 1 year
In the long term, the price trend of precious metals has a good convergence, the long-term trend is basically the same, and the amplitude is slightly different.
Price trend of precious metals and crude oil
Policy Overview
1. Domestic news
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On the 30th, the central bank conducted a 7-day reverse repurchase operation of 80billion yuan, and the bid winning interest rate was 2.10%, the same as before. As 10billion yuan of reverse repo expired today, a net investment of 70billion yuan was achieved on that day.
2. International news
The Swedish central bank raised the policy interest rate by 50 basis points to 0.75%..
Aftermarket forecast
In terms of international policy, expectations of substantial interest rate hikes by some central banks and tightening of monetary policies by major central banks in the world have intensified. In particular, the Federal Reserve controls inflation through interest rate hikes. The price of interest-free precious metals is under pressure, and the early price has been released downward. In this round of interest rate hikes, the rapid and sharp decline shown in the previous round of interest rate hikes has not been seen, mainly because the market has increased concerns about the risk of economic recession, The international economic situation has entered the recession cycle from stagflation, and investors are willing to allocate gold for risk hedging. Superimposed on the geopolitical side, the impact of the conflict between Russia and Ukraine on the international monetary credit system has led to the demand that central banks may change the structure of foreign exchange reserves, both of which support precious metal prices to a certain extent. To sum up, it is expected that the price of precious metals will remain weak and volatile in the short term.
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