blackjackpoker| Gold and silver are crazy! The price of gold ornaments soared to exceed 742 yuan per gram

Chinanews.com, May 21 / PRNewswire-FirstCall-Asianet / (Zhongxin Financial reporter Xie Yiguan) Gold prices are going crazy againBlackjackpoker!

RecentlyBlackjackpokerInternational gold prices soared again, and COMEX gold and London gold now hit new highs in intraday trading on May 20. At the same time, the price of domestic gold jewelry broke through 742 yuan / g, reaching an all-time high.

Not only gold, but also silver, another precious metal, has recently opened a mode of rapid growth, which has even surpassed that of gold, attracting people's attention.

Break through 742 yuan! The price of gold jewelry hit a new high.

On May 20th, "Gold Price" and "Jewelry Gold Price exceeded 742 yuan per gram" went popular on Weibo.

For no other reason, it went up too much.

Zhongxin financial reporter noticed that the gram price of gold ornaments of gold brands such as Chow Tai Fook, Lao Fengxiang, Zhou Liufu, and Lao Miao has been adjusted above 742 yuan, of which the gram price of gold jewelry in the old temple has reached 746 yuan per gram.

In recent years, "one-mouthful" gold has attracted attention. A clerk at the Dafu store in Beijing told reporters that the price of this piece-by-piece gold jewelry, if converted, would have exceeded 1000 yuan.

Behind the soaring price of gold ornaments is the rise of gold prices at home and abroad.

COMEX gold rose 1% on May 17.Blackjackpoker.44% at 2419Blackjackpoker.8 US dollars per ounce, London gold is up 1.61 per cent at 2414.5 US dollars per ounce. COMEX Gold and London Gold both set new record highs in intraday trading on May 20.

Domestic gold prices have also been rising recently. On May 20th, the AU9999 gold price closed at 573.8 yuan / g.

Although the price of gold has risen one after another, the reporter noticed that many gold brands have launched "derogation" preferential activities. Zhou Dasheng, a shop assistant told reporters that at present, the store has a "deduction of 60" discount, which is a special event for "5.20".

The increase in the price of silver makes the price of gold "willing to be outdone"

Although the price of gold has risen wildly, it is still slightly lower than that of silver.

On May 17th, COMEX silver rose 6.36 per cent to $31.775 an ounce, while London silver now rose 6.60 per cent to $31.49 an ounce, both hitting 11-year highs. COMEX silver and London silver also continued to hit new highs in intraday trading on May 20.

Recently, the main contract of the Bank of Shanghai has also strengthened all the way, rising by the daily limit on May 20, and the closing price reached 8211 yuan / kg, a record high.

Zhongxin financial reporters have noticed that since March, as of May 20, the main contracts of the Shanghai Bank have risen by about 40%.

The increase in the price of silver has also led to an increase in the price of silver jewelry on the market.

A clerk at a silver jewelry store in Dongcheng District of Beijing told reporters that the price of silver jewelry in the store fluctuated with the silver price, and now the price of silver jewelry in the store has risen to 22.8 yuan. The price of silver has risen so much recently that it rose to 20 yuan per gram last month. "

Why did gold and silver soar again?

Gold and silver prices have fallen some time ago, why have they started to rise again in recent days?

Wang Youxin, a senior researcher at the Bank of China Research Institute, said in an interview with Chinanews.com that gold and silver prices have risen again recently, driven by a number of factors. "first of all, from the perspective of denominated currencies, after the release of US inflation data in April, Fed interest rate cut expectations rose again, and the dollar index fell, driving up the prices of commodities such as gold and silver."

The reporter noted that recently, data released in the United States showed that the overall CPI recorded 3.4% in April, while the core CPI rose 0.3% from the previous month, the first cooling in six months, and the lowest year-on-year increase in three years.

"secondly, investment demand is an important factor driving up prices. On the one hand, central banks around the world are buying more gold, and on the other hand, retail investors are increasingly interested in gold against a backdrop of high inflation and economic uncertainty. Superimposed global monetary policy is about to shift to expectations, driving global investment and speculative flows to gold and silver markets. " Wang Youxin thinks.

"in addition, the current global geopolitical situation is still relatively uncertain, gold and silver as safe havens, there is a strong market demand." He added.

"there is a high probability that the gold price will continue to fluctuate upward."

In Wang Youxin's view, the trend of gold and silver prices in the later period also depends on the comprehensive influence of many factors.

He mentioned that in terms of investment demand and risk aversion demand, the current global economic growth is still weak, the geographical situation is treacherous, and global monetary policy is about to turn. With the continued increase in gold purchases by central banks around the world and the enthusiasm of retail investors for gold, gold prices are more likely to continue to fluctuate upward.

"compared with gold prices, silver prices are relatively complex and will be affected by more factors, such as changes in industrial production demand, changes in processing technology, and so on." Wang Youxin thinks.

However, Wang Youxin also said that before the Fed formally cut interest rates, expectations of interest rate cuts may also be affected by the release of US economic data, the global economy performed slightly better than expected in the first half of the year, and gold prices may fluctuate in the short term.