Price trend of spot gold

Weekend mood fermentation, affected by the external market, the domestic spot price of precious metals rose sharply on Monday. According to the data of SunSirs, the spot price of domestic gold on February 24 was 375.61 RMB/g, an increase of 2.24% compared with 367.69 RMB/g on the February 21.

It is reported that the current price has reached a new high of nearly 7 years.

Main influencing factors of spot precious metal price

1. Overseas epidemic concerns fermentation

With effective measures taken at home, the epidemic has been gradually effectively controlled. The number of cases and deaths in Italy and South Korea has increased sharply over the weekend. In addition, the spread of the U.S. pandemic influenza has caused panic in overseas markets.

2. The expectation of interest rate reduction in policy is strengthened

The market's expectation on the operation of the central bank's administrative policies has been strengthened, the expectation of loose stimulus has been increased, the possibility of interest rate reduction has been increased, and the low interest rate is good for the precious metal market.

Forecast for future market

The price of precious metal gold has been at a historical high, and we will wait and see the sustainability of mood fermentation.

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