Price trend of spot precious metals
According to the data of business agency, the average price of silver on December 17 was 5215.67 yuan / kg, an increase of 10.62% compared with the average price of 4715 yuan / kg in the spot market at the beginning of the month (December 1); the spot price of silver was 4376.33 yuan / kg at the beginning of the year (01.01), an increase of 19.18%; the spot price of silver was 2942.67 yuan / kg, an increase of 77.24% over the peak value of 8.11 The spot price of silver was 6708.33 yuan / kg, down 22.25%.
On December 17, the spot price of gold was 387.04 yuan / g, an increase of 3.84% compared with the average price of 372.71 yuan / G on the spot market at the beginning of the month (12.1); the spot price of gold was 342.54 yuan / g, up 12.99%; compared with the valley value (3.19), the spot price of gold was 331.75 yuan / g, up 16.67%; compared with the peak value (8.7) of the year, the spot price of silver decreased by 13.61%.
News
1. The Fed’s comments are in line with market expectations
On Wednesday, the Federal Open Market Committee (FOMC) kept the target range of the federal funds rate at 0-0.25%, in line with market expectations.
2. The dollar is relatively weak
The dollar index fell, and the negative correlation was highlighted.
3. Bitcoin drives convergence effect
Within the day, bitcoin soared, once setting a record high above $22000, an astonishing increase.
Future forecast
After the price of precious metals hit the bottom and rebounded in December, the current price has been close to the peak value in November after two waves of continuous rise in the beginning and middle of the month. This will basically pull back the price drop caused by the retreat of risk aversion sentiment brought by the vaccine news in November and the withdrawal of funds.
At present, the CME gold price stands at 1880-1890 US dollars / oz, and the CME silver price reaches 26 US dollars / oz, both in the early shock range, relative resistance level, and the long short game in the future market is intensified.
The news coverage focused on the development of epidemic situation in cold winter vs vaccine progress.
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