Spot precious metals prices were weak during the year, prices rebounded in April

The average price of silver in the early trading on May 17 was 5,639.33 yuan/kg, an intraday increase of 2.57%, which was an increase of 6.91% compared to the average early-month (May 1) spot market price of 5321.67 yuan/kg in early trading; compared with the beginning of the year (01.01) silver The spot price was 5550 yuan/kg, an increase of 2.51%.

The spot price of gold on May 17 was 385.59 yuan/g, an intraday increase of 1.6%, which was an increase of 4.5% from the average early-month (5.1) spot market price of 369 yuan/g, and an increase of 4.5% from the beginning of the year (01.01) gold spot price. Grams, a decrease of 1.81%.

U.S. data at a glance

The US consumer price index (CPI) increased 4.2% annually in April, the largest increase in 13 years, and the producer price index (PPI) increased 6.2% annually, the largest increase in history.

In theory, precious metals are the best choice to fight inflation. At present, keeping interest rates low and the depreciation of the U.S. dollar are in the Fed’s best interests. The current economic data does not support interest rate hikes, which is bullish for precious metals.

Frequent geopolitical events

The current emergencies in the Middle East and the recurrence of the Palestinian-Israeli conflict have triggered market risk aversion to a certain extent.

Silver consumption is expected to improve

In terms of physical consumption, the industrial demand for silver and platinum has strong growth expectations driven by the economic recovery, especially driven by the concept of green and renewable energy.

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