Summary of spot price trend of precious metals

According to the data of business agency, on February 24, the average early price of silver market was 5025.33 yuan / kg, with a daily increase of 1.84%, which was 4.85% higher than the average early price of 4793 yuan / kg in the spot market before the festival (January 31).

On February 24, the spot market price of gold was 389.29 yuan / g, up 1.07% on a daily basis, up 5.07% from the spot market price of 373.05 yuan / g before the holiday (January 31).

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 trend is basically the same.

Price trend of precious metals and crude oil

Geopolitical superposition tight monetary expectation suppresses risk appetite

The conflict between Russia and Ukraine intensified around noon Beijing time. The war triggered a sharp decline in global stock markets, pushing up oil prices and prompting investors to buy Precious Metal Gold for safety.

On the other hand, the probability of US inflation data being forced to raise interest rates rose, the international monetary easing policy was expected to gradually withdraw, and the market risk appetite decreased.

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. In the short term, precious metals are likely to continue to rise.