Gold is coming again.SimplepokerThere was a wave of "highlight" moments. On May 20, the spot gold price reached a daily high of 2449.Simplepoker.88 US dollars per ounce, surpassing the intraday record high set in April. With the rise of gold prices, the prices of major domestic gold jewelry brands also continued to rise, once exceeding 742 yuan / g. Gold prices have been driven up collectively by a combination of increased volatility in the global economy, continued geopolitical risks and increased demand for safe-haven assets. The price of gold has taken off again. Can I still get on the bus now?
Spot gold hits an all-time high
Spot gold once again broke through the all-time high. On May 20th, spot gold ushered in a rising market, hitting 2449 in intraday trading.Simplepoker.88 US dollars per ounce, another all-time high. As of press time, spot gold was at 2433.74 US dollars per ounce, up 0.8 per cent on the day.
Looking back at the trend of gold prices this year, gold has entered a long pull cycle since the beginning of March, rising all the way from the $2100 mark to the $2200 mark. Spot gold and COMEX gold reached 2152.11 US dollars per ounce and 2160.7 US dollars per ounce in intraday trading on March 6, surpassing the record high of international gold prices set in December last year for the first time. Just two trading days later, spot gold broke through an all-time high again on March 8, within striking distance of $2200 an ounce. Since then, although the gold price has undergone a short period of consolidation, in late March, the gold price once again set a record of 2236.05 US dollars per ounce.
In the second quarter, the international gold price continued the "strong" market in March. In the fiercest rise in early April, gold prices are "witnessing history every day". Until April 19, after the spot gold price hit $2419 an ounce in intraday trading, the gold price experienced a correction, falling below the $2300 mark at one point, but another steady rally followed. Since May, the price of gold has been in a volatile upward range until it hit a new high on May 20.
In this round of gold bull market, such a scene is not uncommon. There are many factors that push gold prices higher, and there is uncertainty about the stability of the global economy, which makes investors pay more attention to safe-haven assets. As a safe-haven asset, the price of gold will naturally rise.SimplepokerGeopolitical risks such as the Middle East remain, which can lead investors to seek safe-haven assets, which in turn drives up the price of gold.
Zhou Maohua, a financial market analyst at Everbright Bank, said that the recent higher-than-expected trend of gold prices and continued record highs are related to market bets on Fed interest rate cuts and continued geo-conflicts, while global central bank gold purchases still have momentum that has also boosted market enthusiasm.
Bo Wenxi, vice chairman of the China Enterprise Capital Alliance, said that the volatility of the global economy has increased, investors' demand for safe-haven assets has increased, and gold, as a safe-haven asset, has been favored by investors. Second, the uncertainty of geopolitical risks has also contributed to the rise in gold prices. Finally, the long-term bullish view of gold by some institutions has also helped.
The price of gold jewelry breaks through 742 yuan.
Under the influence of rising international gold prices, the prices of major domestic gold jewelry brands such as Chow Tai Fook, Zhou Shengsheng and Laomiao Gold also continue to rise.
According to the official website of major gold brands, the selling price of Zhousheng gold jewelry (per gram) is 742 yuan, the retail guidance price of Fuzu gold 999 on Saturday is 743 yuan / g, and the price of Zhou Dafu gold (jewelry, handicrafts) is 743 yuan / gram. Shanghai regional gold price shows that the price of gold jewelry in the old temple is 746 yuan / g.
However, a reporter from the Beijing Business Daily found that it coincided with the "520" and many gold stores launched preferential activities. Zhou Dasheng (002867) Beijing Fengtai store manager told Beijing Business Daily, "Today, jewelry gold has the activity of minus 100 yuan per gram, the reduced gold price is 608 yuan / gram, this price is only the price of jewelry gold, each product also has a single labor fee, different styles of labor costs are different, the range is about 35RMB135 / g".
"because it is the gold price after the activity, it is more appropriate to buy jewelry gold products in our store. If you want to buy gold for investment, it is recommended to wait. The current gold price is relatively high," said the store manager.
"at present, the price of the store has not been adjusted, which is the same as the gold price on May 19, which is 739 yuan / g," said a salesperson at Chow Tai Fook's Chaoyang store in Beijing. "at present, the activity of the store is to buy a single piece of gold less than 20 grams per gram minus 20 yuan per gram. Buy a single piece of gold with a weight of more than 20 grams, minus 30 yuan per gram."
Compared with jewelry gold, the investment attribute of gold bars is concerned by consumers. The prices of investment gold bars in different gold stores vary, mostly at 660 yuan / g. Bank gold bars usually have different weight and purity. The more common investment gold bars include 1 g, 5 g, 10 g, 20 g, 50 g, 100 g, 500 g and 1 kg, with a purity of 99.99%. The premium of bank gold bars is usually about ten yuan. On May 20th, the market value of gold bullion is 574.11 yuan / g, and the price of bank gold bars is about 580 yuan / g.
Take the investment gold bars of a joint-stock bank as an example. The investment gold bars of the bank have a total of 10mur1000 grams to choose from, and the price of gold bars per gram is 591.34 yuan. "Gold investment is more suitable for investors with long-term holding plans. It is suggested that the investment quota should be reasonably planned according to their own financial situation, and gold bars of appropriate weight should be selected for investment." The above bank account manager suggested.
The possibility of short-term high shock is on the high side.
In view of the fact that the US economy is experiencing a phased slowdown and market expectations for the upcoming interest rate cuts are rising, a number of institutions predict that increased investor interest and confidence in gold is likely to attract more buyers to enter the market. further continue and consolidate the upward trajectory of gold, the "bull market" may continue.
However, some analysts pointed out that "gold is likely to fluctuate in the short term," Zhou Maohua said, mainly because the geopolitical outlook is not clear, the Fed's interest rate cut expectations and global central bank purchases still have some support for gold in the short term. However, whether gold prices can further challenge record highs requires stimulus such as higher-than-expected interest rate cuts by the Federal Reserve or escalation of geo-conflicts. at present, major central bank policies in Europe and the United States rely on data guidance, and investors need to guard against the impact of higher-than-expected fluctuations on the market.
For investors, Bo Wenxi emphasized that gold jewelry is suitable for purchase as consumer goods or gifts due to its high added value, especially in terms of design, branding, etc. For investment gold bars, especially investment gold bars with higher purity, their price is highly correlated with the spot price of gold, making it a good investment choice. However, investors also need to pay attention to market risks and rationally allocate assets. If you want more precise gold investment, you can focus on more market-oriented investment products such as gold ETFs.
"As a safe-haven asset, gold will be further reflected in the future environment where economic volatility and geopolitical risks still exist. Investors can reasonably allocate gold and related products based on their risk tolerance and investment goals." Bai Wenxi said.
In order to avoid potential risks, the Shanghai Gold Exchange issued an announcement on May 20 stating that there have been many uncertain factors affecting market operations in the near future, market risks have increased significantly, and price fluctuations have increased significantly. All member units are requested to raise their awareness of risk prevention, make detailed risk emergency plans, remind investors to do a good job in risk prevention, reasonably control positions, and invest rationally.
The Shanghai Gold Exchange also announced that starting from the closing and clearing on May 21, the margin ratio of Au (T+D), mAu (T+D), Au (T+N1), Au (T+N2), NYAuTN06, NYAuTN12 and other contracts will be adjusted from 9% to 10%, and the rise and fall limit will be adjusted from 8% to 9% from the next trading day; the margin ratio of Ag (T+D) contracts will be adjusted from 12% to 13%, and the rise and fall limit will be adjusted from 11% to 12% from the next trading day.