Precious metal spot price trends

On November 15th, the silver market average price in early trading was 5,100.67 yuan/kg, which was 5,162.33 yuan/kg in the early trading of the previous business day (November 12), a decrease of 1.19%; compared with the beginning of the year (01.01) silver spot price was 5550 Yuan/kg, a decrease of 8.10%.

The spot market price of gold on November 15 was RMB 381.31/g, which was 0.26% lower than the spot market price of 382.32 yuan/g on the previous working day (11.12), and was RMB 369.60/g in early trading compared to the spot market price at the beginning of November (11.1). The increase was 3.17%; compared with the beginning of the year (01.01), the spot price of gold was 392.70 yuan/g, a drop of 2.90%.

Precious metal gold and silver price trend comparison in the past year

The precious metals gold and silver have relatively good convergence, and the price of silver has a larger amplitude and the direction is basically the same. Recently, the price of silver has fallen rapidly at the end of September, and the price of precious metals has risen and fallen in the same range. After the National Day returns, the price of silver has bottomed and rebounded. The price of silver has fluctuated greatly, and the trend of gold and silver prices has tended to narrow. Recently, the fluctuation of silver prices has stabilized.

Precious metals gold and silver holdings data

As of November 12, 2021, SPDR gold ETF holdings were 975.99 tons, an increase of 0.58 tons from last week. SLV Silver ETF holdings amounted to 17051.96 tons, an increase of 122.33 tons from last week.

Outlook forecast

International: The U.S. October PPI rose 8.6% year-on-year and remained at a more than 10-year high; October CPI surged 6.2% year-on-year, the largest increase since 1990, and core CPI rose 4.2% year-on-year. The number of initial claims for unemployment benefits in the United States last week was 267,000, a new low since the epidemic. The market expects 260,000. The initial value of the University of Michigan Consumer Confidence Index fell to 66.8 in November from 71.7 in October, a 10-year low. Consumers expect inflation to rise to 4.9% in the next year, the highest level since 2008. In the United States, there were 10.438 million job vacancies at JOLTs in September, which was higher than market expectations of 10.3 million.

Domestic: Both PPI and CPI data are higher than expected, reflecting certain domestic inflation. After the data came out, the price of precious metals has already reacted. It is expected that the price of precious metals will stabilize in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.