The rise of full gold price is mainly affected by the continuous rise of international gold price. By the end of the 22nd, Comex gold futures closed up 1.46% at $1870.8/oz, a new high in nearly nine years, with the highest intraday touch of $1871.8/oz. So far this year, it has increased by more than 20%.
Compared with gold, silvers performance was more brilliant. After breaking through the $20 barrier on Tuesday and rising 7%, silver rose by more than 8% again on Wednesday, reaching a peak of $23.35.
By the end of the day, Comex silver futures closed up 8.25% to 23.335 US dollars / ounce, the highest in nearly seven years, and reached a peak of 23.420 US dollars / ounce.
Domestic commodity futures also rose like a rainbow. In early trading on Thursday, the Bank of Shanghai rose more than 8% and fell to 6.3% by the time of publication.
Why did gold and silver keep rising? Now that its so high, can we start?
Gold and silver rise together
Since the beginning of this year, under the dual stimulus of epidemic risk aversion and central bank easing, the overall performance of precious metal plate has been brilliant. In particular, this week, the precious metal market started again, gold and silver prices in internal and external markets hit new highs one after another, and the gold silver ratio continued to fall.
After closing more than 5% on Tuesday, the main 2012 contract of Shanghai Bank futures was closed directly after the opening of trading on Wednesday, closing at 5123 yuan / kg, a new high in more than seven years; Shanghai gold futures in China also reached a new high of 418.80 yuan / g since its listing on Wednesday. Due to the hot market, gold, silver also boarded the microblog hot search.
In the international precious metal market, gold futures in New York hit 1866.8 US dollars / ounce on Wednesday, setting a new high in nearly nine years; New York silver futures once stood at $23 / oz, setting a new high in nearly six years. At the same time, the silver rose rapidly, pushing the ratio of gold and silver in the internal and external plates to around 80. By the end of the morning, silver was up more than 8.26% and gold was up 1.46%.
A senior precious metal investor said that from the perspective of the historical trend of silver futures, silver prices are often low, and they are not sensitive to the news, and rarely have a decent rise. Therefore, they are often known as Buddha system and do not rise if you can.
Recently, the silver market has soared. On the one hand, it was forced out by the big brother of gold under the high gold silver ratio; on the other hand, the fear of shrinking silver supply from the fundamentals also boosted the current round of rise.
The outbreak of gold and silver, also led to a shares related to precious metal stocks rose. On Wednesday, Xingye mining and Shengda resources trading, Yintai gold rose 7.88%, Zhongjin gold and Chifeng gold rose more than 4%.
This year, gold stocks ushered in a high light performance. Among them, Chifeng gold rose 202.19%, Yintai gold rose 41.49%, Zhongjin gold rose 28.67%, Shandong gold rose 20.97%.
Investors are generally bullish
See gold price rise, many people began to heart, at this time can you start? For the future market, most analysis and forecast that there is still a large room for growth in the future.
According to the research report released by China Thailand securities on July 22, monetary policy is not expected to change in the early stage of economic recovery, especially under the influence of the current epidemic situation, monetary policy will remain loose. Before the shift of monetary policy, the upward momentum of gold remained unchanged, and the initial recovery did not affect the upward trend of gold and silver in this round.
According to Citigroup, it is only a matter of time before the prices of precious metals such as gold break the record of US $1921.17 per ounce set in 2011 in the next 6-9 months, and 30% more likely to exceed $2000 per ounce in the next 3-5 years, according to Citigroup. Silver prices will exceed $25 an ounce in the next six to nine months, and the most optimistic scenario will exceed $30 an ounce.
He zhuoqiao, senior macro researcher of CCB futures, said in an interview with the reporter of daily economic news (micro signal: nbdnews), the positive effect of Xinguan epidemic on precious metals is reflected in two aspects. The first is that the new crown epidemic has impacted the real economy. Governments of various countries have implemented loose monetary policies and active fiscal policies. In the short term, the outbreak of the new crown epidemic has made the aggregate supply lower than the aggregate demand, which means that inflation expectations are rising and real interest rates are falling at the same time. This environment provides strong support for precious metal prices. The second is that the new crown epidemic has pushed up geopolitical risks, thus increasing the demand for safe haven of precious metals.
In Hos view, due to the outbreak of a more serious secondary epidemic in the United States and the control of the epidemic situation in other developed countries, the US dollar index is under adjustment pressure, which is also conducive to the price of precious metals in US dollars.
Photo source: Photo Gallery
Of course, as precious metal prices continue to rise, risks are gathering. Wang Jianqing, assistant chief analyst of master gold, said that the gold silver ratio had dropped sharply to around 85. Silver has a large short-term rise, which is not suitable for catching up.
Gu Fengda, head of Guoxin futures research and consulting department, suggested that in the face of the current surge in silver futures prices and the pressure of investors who have not built positions to catch up, robust customers can still pay attention to the bull entry opportunities after the gold callback.
In the case of large fluctuations in gold and silver, domestic exchanges increased the rise and fall of corresponding products. On July 22, the Shanghai Gold Exchange announced that since July 23, the margin ratio of Au (T + D), Mau (T + D), Au (T + N1), Au (T + N2), nyautn06 and nyautn12 contracts has been adjusted from 8% to 9%, and the limit of rise and fall from 7% to 8% from the next trading day. If there is a unilateral market in the Ag (T + D) contract on July 22, the margin ratio of the Ag (T + D) contract will be adjusted from 10% to 13% from the closing and liquidation of the same day, and the limit of up and down range will be adjusted from 9% to 12% from the next trading day.
In the announcement, Shanghai Gold Exchange also reminded investors to operate cautiously, invest rationally, control the size of positions reasonably, and ensure the stable and healthy operation of the market.
Chinese aunts have two characteristics: first, they are rich in gold; second, they love to buy gold.
According to the economic daily, in April 2013, the international gold price had a rare sharp drop in history. By the end of May 2013, the gold price had dropped to 1386.4 US dollars / ounce.
At this time, Chinas aunt quickly into the market, copy the bottom price of gold.
However, this wave of bottom copy was copied on the hillside.
Since then, the international gold price has been falling all the way. By the end of 2015, the international gold price reached 1060.24 US dollars / oz, which means that the Chinese aunt who bought gold in April 2013 lost about 30%.
Later, the aunt seemed to disappear, but gold prices have been rebounding.
During the two periods from June to September 2016 and January to April 2018, the gold price once exceeded the US $1300 / oz level, and there was an opportunity to unwind.
That is to say, if the Chinese aunt had been holding gold, she would not only be able to get rid of it, but also gain a lot.
The price of Jindian is adjusted twice in half a month
It is understood that due to the continuous rise in gold prices in recent years, the sales of gold jewelry have increased instead of decreasing. On the one hand, it is the driving effect of consumption recovery after the epidemic situation is degraded. On the other hand, the psychology of buying up but not buying down makes consumers more keen on bracelets, rings, pendants and other goods. Among them, the more exquisite antique gold and 3D hard gold are especially sought after by consumers.
Yu Guiying, general manager of Beijing Sun gold store, said that in addition to the recovery of gold jewelry consumption, as the gold price continued to rise, investment gold bars also began to sell well in the near future. After a sharp fall in international gold prices in mid March, gold prices rebounded by nearly 20% in the following three months. Moreover, at present, the gold price has continued to rise momentum, thus driving the enthusiasm of investors. The sales data of Guohua shopping malls also show that the sales volume of gold investment products has increased significantly recently. Many consumers are optimistic about the growth space of gold in the later stage, and now they choose to buy. It is expected that the gold price will challenge a new high from the end of this year to the beginning of next year.
Against the background of soaring gold prices, there have been cases of robbing jewelry shops in Hong Kong recently. On July 22, three men drove a black private car to the door of a gold shop on the ground floor, 66 San Kang Street, Sheung Shui, Hong Kong. Two of them entered the shop with knives and hammers. One man threatened the shop assistants with a knife and the other broke the glass of the counter with a hammer, snatching some HK $1 million worth of gold ornaments, and then fled quickly in a black private car.