Spot Precious Metal Price Trends

SunSirs data monitoring shows that the average Chinese gold spot price on the 29th was 397.78 yuan/gram, which was an increase of 0.21% from the 396.95 yuan/gram on the 24th; an increase of 16.13. % from the beginning of the year (01.01), which was 342.54 yuan/gram.

On the 29th, Chinese silver spot price was 4,291.33 yuan/kg, a decrease of 0.01% from the silver spot price of 4,191.67 yuan/kg on the 24th; compared with the beginning of the year (01.01), the silver spot price was 4,281.67 yuan/kg, a decrease of 2.54%.

The current price of precious metal gold is running around 400 yuan/gram. The price is relatively high. Affected by COVID19, the actual physical demand for gold is relatively low, but the demand for investment has surged. The 400 resistance level is relatively solid. In the later stage, we will wait for the central bank interest rate policy, dollar liquidity, inflation expectations, and pandemic changes.

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