Spot price of precious metals

On October 28, the silver market average price in early trading was 4905.33 yuan/kg, which was an increase of 0.50% from yesterday's average price of 4881.00; compared with the early October (October 1) spot market price in early trading average price of 4585 yuan/kg, an increase of 6.99%; At the beginning of the year (01.01), the silver spot price was 5550 yuan/kg, a decrease of 11.62%.

On October 28, the gold spot market price was 371.03 yuan/g, which was an increase of 0.92% from yesterday's spot market price of 367.64 yuan/g, and was a drop of 2.41% from the early October (10.1) spot market price of 380.20 yuan/g in early trading; At the beginning of the year (01.01), the spot price of gold was 392.70 yuan/g, down 5.52%.

October precious metal gold and silver price trend comparison

The price of silver has fluctuated greatly recently. On the whole, silver’s previous lows have bottomed out and rebounded more strongly.

At present, precious metal prices are affected by Asian trading hours, Asian stocks have fallen across the board, domestic bulk prices have fallen sharply, and market risk aversion sentiment is high, which is a certain degree of bullishness for the precious metal market.

Overlapped with geopolitical aspects, the FCC voted to revoke China Telecom America’s business operation license in the United States. Bad factors continue to be on the path of Sino-US relations. Risk aversion has accumulated.

From the perspective of fundamental demand, the total demand for gold fell in the third quarter, but the global central bank bought 69 tons, and the global gold ETF holdings decreased by 27 tons. The total holdings remained at a high level of 3592 tons; global gold bars and The demand for gold coins was 262 tons, a year-on-year increase of 18% and a month-on-month increase of 8%. Recently, gold investment demand has weakened, but physical demand has improved.

If there are no emergencies, the price of precious metals will be stable and fluctuating recently. The market outlook focuses on the following news:

Recent policy focus

On Friday, the United States will announce the Personal Consumption Expenditure (PCE) price index, which is the Fed’s most popular inflation indicator;

In the longer term, we can pay attention to the Fed's monetary policy meeting from November 2 to 3.

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