Spot price of precious metals

On November 10, the silver market average price in early trading was 4902 yuan/kg, compared with the early October (October 1) spot market price in early trading at 4585 yuan/kg, an increase of 8.16%; compared with the beginning of the year (01.01) silver spot price was 5550 yuan/kg. Kg, a decrease of 10.65%.

The spot market price of gold on November 10 was 376.46 yuan/g, up 1.22% from Monday's spot market price of 370.51 yuan/g, and was up by 3.58% 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 4.14%.

Precious metal gold and silver price trend comparison in the past 3 months

The precious metals gold and silver have a good convergence. At the end of September, the price of silver fell sharply. After the National Day return, the price of silver bottomed out, and the price of silver fluctuated greatly. The price trend of gold and silver tended to narrow. Recently, the price of silver has stabilized.

Outlook

From the perspective of the external futures market, there is a relative resistance level near US$25.00 per ounce for US Silver Link, and a relative resistance level near US$1840 per ounce for US Gold Link. In the near future, the disk price is close to this area, and there may be potential expectations of a fall and shock.

Looking at the news, according to recent domestic data, China's M2 money supply in October increased by 8.7% year-on-year, and the growth rate was 0.4 percentage points higher than the end of the previous month. It is expected to be 8.30% and the previous value is 8.30%. The domestic market money supply data is good, but in October due to the impact of international import factors and the tight domestic supply of major energy and raw materials, the PPI increase has expanded. From a month-on-month perspective, PPI rose by 2.5%, an increase of 1.3 percentage points from the previous month. From a year-on-year perspective, PPI rose by 13.5%, an increase of 2.8 percentage points from the previous month. The domestic data in October basically supported the confirmation of the precious metal market trend in the same period in October.

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