Summary of spot price trend of precious metals

 

According to the data of business agency, on March 11, the average price of silver market in early trading was 5133 yuan / kg, with a daily increase of 0.52%, which was 4.15% higher than the average price of 4928.33 yuan / kg in spot market at the beginning of the month (March 1); Compared with the early morning average price of 4770 yuan / kg in the spot market price at the beginning of the year (January 1), an increase of 7.61%.

 

On March 11, the spot market price of gold was 404.84 yuan / g, up 0.25% on a daily basis, up 4.53% from the early average price of 387.29 yuan / g in the spot market at the beginning of the month (March 1); Compared with the spot market price at the beginning of the year (January 1), the early average price was 372.37 yuan / kg, an increase of 8.72%.

 

Comparison of price trends of precious metal gold and silver in recent 1 year

 

In the long term, the price trend of precious metals has a good convergence, and the long-term trend is basically the same. Today, the price deviates.

 

Price trend of precious metals and crude oil

 

List of policies

 

Domestic:

 

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According to the preliminary statistics of the Central Bank of China, the stock of social financing scale at the end of February 2022 was 321.12 trillion yuan, a year-on-year increase of 10.2%. Among them, the balance of RMB loans to the real economy was 196.62 trillion yuan, a year-on-year increase of 11.2%.

 

Overseas:

 

The European Central Bank kept interest rates unchanged, real yields in the eurozone rose sharply, and the yield of Italian 10-year inflation linked bonds rose nearly 40 basis points to – 0.58%.

 

The Central Bank of Hungary raised the one week deposit rate by 50 basis points to 5.85% (previously expected to increase to 6%). The Central Bank of Hungary raised the mortgage interest rate from 5.4% to 6.4%

 

The Central Bank of Pakistan maintained its key interest rate at 9.75%.

 

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The main reason for the good market of precious metals in March

 

Recently, the Ukrainian Russian conflict has led to an increase in risk aversion of international capital and pushed the price of noble metals.

 

Future forecast

 

In the long run, the monetary easing policy is gradually ebbing, and the expectation of interest rate hike suppresses the continuous rise of precious metal prices. The upper limit of precious metals is high in the short term, but it is possible to continue to rush.

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