At one point, the price of the money rose to $600 per gram, and on this mid-autumn national holiday, there was a continuous fall。
Is it the best time to start with gold when someone starts calling out “the pain” and someone buys millions of gold bars in one breath
It's been seven months. The price of gold has dropped 600 grams
The price of gold has fluctuated considerably since the beginning of the year, rising to $600 per gram. However, on this mid-autumn and national holiday, the price of the gold fell successively, at $600 per grams。
With regard to the precious metals market, the international gold price fell in three days, while the gold futures market of the new york commodity exchange, which was most active, fell by 0. 31 per cent in december and the closing price remained at its lowest level in nearly seven months. According to market analysis, the sharp rise in united states treasury debt yields and the strengthening of the united states dollar have pushed international gold prices down。
On 3 october, the gold price of the various brands in the city of singhai and wuhan varied from $572 to $587 per gram. Some brands promote festivals and, more importantly, use the slogan “cash $398” and “fifty-50” to attract consumers。
According to guangzhou's east 100 sources, its investment base price has recently been $465/g, and its jewellery price has been reduced by $591/g, or $553/g, free of charge. “the base price reached a high of $480 in mid-september and fell to the mid-autumn festival, but it has nevertheless pushed the holiday to become a truly `gold week'”. It was described that even many consumers, especially those just in need, had come back to buy back after the price had fallen。
According to a field visit to several gold stores in beijing by journalists of the chinese securities press, the price of jewellery has now fallen below $600/g, which is more than $70 per grams in some of the stores compared to the price of gold in late september. During the national day, many shops were engaged in marketing activities and consumers were more enthusiastic about buying。
Men, women and children! Someone bought millions of dollars in gold bars
Despite the huge increase in gold prices since this year, consumer enthusiasm for gold has not diminished. In contrast to the impression that money buys is dominated by middle-aged women, young people on social media platforms have also set in motion a trend towards “challenging, understanding and becoming mothers”。
According to extreme news reports, “on mid-autumn, national day holidays, we sold an investment gold bar product of approximately 1900 grams, amounting to a total of 1007,000 yuan”. Presentation by the staff of the martial arts trader, mall l. World trade organization to the zone。
There are a large number of consumers who buy investment gold bars. The stores of the store, such as fengxiang, chinese gold coins and zhou dafu, sell 400 grams of investment notes during the holidays, amounting to more than $200,000。
Besides, it's not just women who like gold jewelry. “a male customer buys a male gold necklace, two sets of bracelets, one gold bracelet and three gold pieces, for a total of nearly $200,000.” according to phuong counter staff, the price of gold had changed significantly prior to the holiday and the “bond cost” of gold consumers had decreased significantly during the holiday period, keeping the consumption pattern in the gold market, which was already more hot。
On the part of young consumers, there are also many who buy “gold beans” while prices fall。
The “gold fever” phenomenon, analysed by industry, is, on the one hand, that gold, as an investment, not only performs better than other commodities, but is also higher than other assets, such as equities, and attracts considerable capital into the market; on the other hand, its risk-resistant function and monetary attributes continue to function. “gold has always been regarded as a risk-averse asset, and when market risk increases, investors tend to shift to relatively stable and secure investment options, and central banks have continued to increase their reserves in recent years, allowing gold to perform well.”
Gold, is this the best time
Domestic gold prices have continued to decline since the first week of the national holiday in mid-autumn this year, with a sharp drop in the price of real gold denominated in the renminbi. On the last trading day before the holiday, the shanghai gold exchange's current gold transaction price returned below 450 grams, down 5. 2 per cent from the previous week's market offer, the largest decline in a single week for more than three years。
The clerk of a gold store in pian an, zhejiang province, is working on gold jewelry. Figure / xinhua
For the reasons for the recent significant adjustment in gold prices, several industry analysts have stated that historically the gold movement has shown a negative correlation with united states debt interest rates. The price of the gold, which had previously been fixed by the federal reserve’s interest rate hike, is now better in the us economy, the dollar index rebounds, the federal reserve’s recent release of expectations to maintain high interest rates, and the high risk-free rate of us treasury debt, which has allowed many investors to choose to sell gold at a higher level and to invest in us treasury debt。
The vice-president and chief analyst of the guangdong gold association suggested that every drop in gold prices would be an opportunity to buy, but that consumers should not be blindly “catching up” and that small-scale investment strategies should be adopted to reduce investment risk, based on actual performance and demand. There is also a need for sustained attention to domestic and foreign price differentials, and for caution in the purchase of gold if the differences are significant。
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