Today, 15 august, domestic gold prices are on the rise, with the shanghai gold exchange, au9999, reporting $938. 3/g, a drop of 1. 15 per cent; and the main gold contract, 940. 8/g, a drop of 1. 94 per cent. Gold t+d reported $937. 8/g, a drop of 1. 18 per cent, and retail prices in gold stores mostly fell by around $30。
Zhou dafu gold, $1306/g for zhou, $1310/g for fengxiang and $1302/g for chinese gold. The current reference price for gold recovery is around $920/g, and the median price is still not small compared to retail prices。
Shenzhen waters gold wholesale market, full price of $1113/g, platinum $427/g and 18k gold $850/g. The price of the bank's investment notes is almost all between $950 and $960, with the peace bank reporting a high of $960. 1/g, and the central bank 950/g, which is relatively low。
Bank gold bars are free of processing fees and have a small premium and are suitable for those who intend to hold them permanently. On the international market, spot gold is estimated at $4336/ounces, $64. 35/ounces of silver, $1717/ounces of platinum and $1305/ounces of zirconium。
In rmb, the domestic gold price is approximately $949 per gram and one ounce of gold is equivalent to $4348. 8, a price difference from the international market. With regard to paper gold, the price of paper gold at the business bank was $1286. 22 per ounce, a decline of $15. 83 or 1. 22 per cent。
The construction bank price of paper gold was $1329. 49 per ounce, a decline of $14. 38, or 1. 07 per cent, and the farm bank price of paper gold was $1299. 75 per ounce, a decline of $14. 42, or 1. 1 per cent. With regard to the price of paper gold denominated in the renminbi, the price of paper gold in the commercial and commercial banks was rmb 279. 65/g, down by rmb 3. 41 or 1. 20 per cent。
The construction bank's paper gold price was $282. 03/g, a decline of $3. 11, or 1. 09 per cent; and the chinese bank's paper gold price was $288. 09/g, a decline of $3. 09, or 1. 06 per cent. Behind this vicissitudes, a few forces are working。
The heat of gold purchases by central banks is clearly on the rise, and world gold association data show that central banks bought 289 tons of gold in the second quarter, a significant increase from 56. 5 tons in the first quarter and a 62 per cent increase over the same period. The central bank of china is growing steadily, and the central bank of korea has released news that it plans to increase the share of gold in foreign exchange reserves, which is the first signal of a clear release of restart money since 2005。
Central bank purchase of money is a long-term practice, with the main consideration being the security of reserves and the dispersion of risks, amounting to a bottom line for the price of the money. The financial landscape is also changing, with a round of adjustments to gold over the past six months, with speculative funds mostly withdrawn early。
The size of the gold futures hold has been reduced by more than 1,000 tons since mid-january, down to a low level since 2009, and the sale has almost been digested, making it easier to push up prices when new purchases enter the market. Once the gold price has exceeded the critical position of $4,200, the fallback, coupled with a quantitative strategy to catch up, creates positive feedback and rapidly magnifies the situation。
Rapid upswings are difficult to sustain, and the extreme movement of gold prices, which doubled from $2,000 to over $4,000, will not be repeated. Market heat has reached the line, and in hangzhou international jewellery city, a customer sells 200 grams of gold bars at a time and realizes more than $180,000。
In shenzhen water bea, where the recycling business is much worse than the sale, the door shop staff indicated that 60-70 per cent of the clients in the last week were for sale and that they were able to pick up seven or eight collections a day, with 10 more. With a daily average of about 300 grams, businesses estimate that the current traffic has doubled since the beginning of august and that there was some strain on the working capital of individual vendors。
Data released by the china gold association indicate that in the first half of the year, 152. 9 tons of gold were produced in the country, a decrease of 14. 62 per cent over the same period; 511. 4 tons were consumed, an increase of 1. 23 per cent over the same period. The price of gold is rising and falling, the tax revenues of gold are being folded and taxed, consumption structures are being divided, gold bars and coins are becoming popular and many consumers are less willing to buy jewellery。
Prices of gold have risen by more than 120 times a month, and in mid-july the zhou dafu gold report was $1217/g, which is now $1312/g. Following the price increase, the number of people in the store was still high, the actual number of lower orders was reduced, the mood was increased, and some consumers, in order to control the overall budget, took the initiative to reduce their purchasing gravitational weights and to shift to a small, light and quantitative design payment。
The rare discounts in the old-fashioned gold round also attract a lot of eyeballs, with a 90-percent discount for most products under the line, an 8. 50-percent discount for the actual online portion and even a 60-percent discount for second-hand recycling. One consumer, who spent over 20,000 grams of 8. 46 grams in march, now offers only $12,000。
The company expects to earn between $19. 8 billion and $20. 45 billion in the first half of the year, with adjusted net profits ranging from $4. 31 billion to $4. 36 billion. Morgan stanley calculates that the average monthly sales in the second quarter are only 40 per cent of the march level. There was also agreement on the agency's divergent views on the follow-up trend, with chinese-chinese securities suggesting that gold was still in the bull market, that the fed's policy might be more relaxed than expected, and that the price of gold would return to the upper road during the year。
The bank's wealth management projects that gold prices may exceed $5,000 in the first half of next year, with a target price of $5,200 at the end of june. According to east wu securities, the basic and technical aspects of gold are being resonated, and the situation has grown stronger, with gold prices expected to be restored to between $4,700 and $5,000 in the lead-up to and after the fed's interest rate conference in august and september。
The movement of ordinary investors to distinguish between book price and retail price, which fluctuates frequently, and retail price also includes processing and design costs is not consistent. Low premium bars in banking channels are more cost-effective to invest; extra premiums are accepted if gold is to be bought or delivered。
Gold, which accounts for between 5 and 15 per cent of the total household assets, has the main effect of combating inflation and smoothing the portfolio fluctuations, and it is more secure when it is bought in batches than in one-time pursuit. Those who already hold gold do not have to rush to sell it because of short-term recall, and the long-term underpinnings of central bank purchases, the easing of dollar positions, and the widening of national deficits have not changed。
