According to business news agency data, on March 18, the average price of silver market in the morning was 5464.33 yuan / kg, up 3.02% in the day, down 0.29% from 5480.33 yuan / kg in the spot market at the beginning of the month (March 1), and down 1.54% from 5550 yuan / kg in the spot market at the beginning of the year (01.01).
On March 18, the spot price of gold was 367.60 yuan / g, up 0.82% in the day, up 0.55% compared with the average price of 365.60 yuan / g in the early morning of the month (3.1), and down 6.39% compared with the spot price of 392.70 yuan / g in the beginning of the year (01.01).
Core inflation expectations rose, precious metal prices rose slightly
At 2:00 Beijing time on the 18th, the US Federal Open Market Committee (FOMC) announced that it would keep the target range of the federal funds rate unchanged at 0-0.25%, in line with market expectations. At the same time, the Federal Reserve raised its economic and GDP growth expectations, but it has no intention to reduce QE in the near future. Core inflation expectations rose, and precious metal prices rose slightly.
Gold price stops falling and rising
The sharp fall of gold in the early stage is mainly due to the high yield of us long-term treasury bonds, the continuous rise of US stock market, the positive trend of international commodities, and the weakening of speculative enthusiasm of precious metal market. Recently, the price of precious metal gold began to stop falling, stabilize and recover slightly. On the one hand, due to the booming domestic precious metal consumer market, the price of gold doubled and the sharp increase of consumer demand in other places during the Chinese New Year. On the other hand, in the long run, the real interest rate will remain low, the central banks of developed economies will continue to buy government debt, the industrial demand will increase, and the consumer demand for jewelry and gold and silver ware will also increase.
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