Summary of spot price trend of precious metals
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According to the data of business agency, the average early trading price of silver market on December 31 was 4770 yuan / kg, an increase of 2.51% compared with the average early trading price of spot market at the beginning of the month (December 1); Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 14.05%.
On December 31, the spot market price of gold was 372.36 yuan / g, an increase of 1.62% compared with the early average price of 366.42 yuan / g in the spot market price in early December (12.1); Compared with the spot price of gold at the beginning of the year (01.01), 392.70 yuan / g, down 5.18%.
Comparison of precious metal gold and silver price trends in recent 1 year
The convergence of precious metal gold and silver is relatively good, the price amplitude of silver is large, and the direction is basically the same. After the recent silver price reduction and low consolidation, it began to repair.
As of December 31, the year-on-year correlation between precious metals gold and silver was 0.614.
Price trend of precious metals and crude oil
As of December 31, the annual correlation between precious metal gold and crude oil was -0.436, with weak correlation during the year.
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As of December 31, the annual correlation between precious metal gold and crude oil was -0.551, with weak correlation during the year.
Main reasons for price recovery in December
With the landing of the taper expectation to suppress the gold price, the short-term bad rebounded, superimposing the impact of the European energy crisis, making the market worry about inflation rise and the low level of gold and silver rebound.
Although the number of initial claims for unemployment benefits in the United States hit a new low in nearly 50 years last week, the U.S. job market continued to improve. The PMI in Chicago rebounded in December, indicating that the impact of Omicron virus on the U.S. economy is limited; The European Central Bank Management Committee gave a briefing on policy tightening. Holzmann said that negative interest rates and unconventional monetary policies would be introduced next year, while knot said that raising interest rates or in 2023 would also be unfriendly to precious metal prices.
In the near future, it is expected that the price of precious metals will fall and adjust slightly, which also shows that the game of long and short factors is intensified. The business community believes that inflation expectation is still the leading factor, and the overall upward trend will remain unchanged in the short term.
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