Precious metal spot prices rose slightly in October
According to the data of business agency, the average early trading price of silver market on October 29 was 4885.67 yuan / kg, an increase of 6.56% compared with the average early trading price of 4585 yuan / kg in the spot market at the beginning of October (October 1); Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 11.97%.
On October 29, the spot market price of gold was 369.99 yuan / g, a decrease of 1.80% compared with the early average price of 380.20 yuan / g in the spot market price at the beginning of October (10.1); Compared with the spot price of gold at the beginning of the year (01.01), 392.70 yuan / g, down 5.78%.
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Silver Rose relatively rapidly in October
Recently, the fluctuation amplitude of silver price is large. On the whole, silver is at a low level in the early stage, and the rebound is stronger.
However, from the perspective of non-ferrous metals, precious metals performed in a regular manner, silicon and aluminum fell first, and rare earth plates soared:
commodity Price on October 28 Price on October 1 Monthly rise and fall
Metallic silicon forty-two thousand sixty thousand eight hundred and thirty-three point three three – 30.96%
aluminium nineteen thousand three hundred and forty-six point six seven twenty-two thousand seven hundred and thirteen point three three – 14.82%
magnesium forty-six thousand six hundred and sixty-six point six seven fifty-one thousand six hundred and sixty-six point six seven – 9.68%
ilmenite two thousand three hundred and forty two thousand four hundred and fifty – 4.49%
tin two hundred and seventy-two thousand three hundred and eighty-seven point five two hundred and seventy-eight thousand and twelve point five – 2.02%
gold three hundred and seventy-one point zero three three hundred and sixty-three point four four 2.09%
copper seventy thousand seven hundred and thirty-five sixty-eight thousand seven hundred and ninety-six point six seven 2.82%
nickel one hundred and forty-five thousand three hundred and sixteen point six seven one hundred and forty-one thousand and three hundred 2.84%
antimony eighty thousand and five hundred seventy-seven thousand and five hundred 3.87%
zinc twenty-three thousand six hundred and eighty-eight twenty-two thousand six hundred and eighty-six 4.42%
Dysprosium oxide two million eight hundred and thirty-five thousand two million seven hundred and five thousand 4.81%
cobalt four hundred and one thousand and two hundred three hundred and eighty-one thousand and six hundred 5.14%
Dysprosium metal three million six hundred and thirty thousand three million four hundred and forty-five thousand 5.37%
silver four thousand nine hundred and five point three three four thousand five hundred and eighty-five 6.99%
Dysprosium ferroalloy two million eight hundred and forty thousand two million six hundred and forty thousand 7.58%
lead fifteen thousand and six hundred fourteen thousand three hundred and ninety-three point seven five 8.38%
praseodymium nine hundred and seventy-five thousand eight hundred and sixty thousand 13.37%
Neodymium metal nine hundred and fifteen thousand seven hundred and seventy-five thousand 18.06%
Praseodymium oxide seven hundred and seventy-five thousand six hundred and forty thousand 21.09%
Neodymium oxide seven hundred and sixty-five thousand six hundred and twenty-seven thousand and five hundred 21.91%
Praseodymium neodymium oxide seven hundred and thirty-two thousand and five hundred six hundred thousand 22.08%
Praseodymium neodymium alloy nine hundred and five thousand seven hundred and thirty-eight thousand and five hundred 22.55%
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Domestic demand for precious metals rose in the third quarter and is expected to continue in the fourth quarter
According to the data of the World Gold Council, China’s gold jewelry demand reached 157 tons in the third quarter of 2021, with a year-on-year increase of 32% and a month on month increase of 7%. In the third quarter, China’s sales of gold bars and gold coins were strong, with a total of 65 tons, a year-on-year increase of 12%.
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In terms of investment demand, by the end of the third quarter of 2021, the overall position of China’s gold ETF was 72 tons, and the inflow in the third quarter was 3.2 tons.
Domestic demand for precious metals rose in the third quarter and is expected to continue in the fourth quarter. On the one hand, the fourth quarter was originally the traditional peak season for China’s gold jewelry consumption. In addition, new varieties such as Gufa Jinpu and popular, gram heavy and high gold jewelry products promoted sales; On the other hand, the sharp rise and fall of the futures market and the volatile stock market may also make many investors increase their efforts to allocate gold ETFs to disperse risks.
International policy factors
The U.S. Department of Commerce announced on Thursday that the annual growth rate of U.S. GDP in the third quarter fell to 2% from 6.7% in the previous quarter (April to June). The US GDP data for the third quarter was lower than expected, easing market concerns about the Fed’s early interest rate hike.
However, the market focused on the Fed’s main inflation indicators on Friday. The market expects core personal consumption expenditure to increase by 3.7% year-on-year in September. The market forecast for the possibility of three interest rate increases by the Federal Reserve in 2022 is slightly higher than 50%, which has dampened the confidence of the precious metal market to a certain extent.
Recently, the price of precious metals has been stable and volatile. Focus on the following news in the future:
Recent policy focus
The Federal Reserve will hold a monetary policy meeting from November 2 to 3.
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