Silver spot prices fell 3.24% daily
On July 19, the silver market average price in early trading was 5270 yuan/kg, compared with the spot market price on the 16th, which was 5336.67 yuan/kg; down 3.24%; compared with the early July (July 1) spot market price in early trading, the average early trading price was 5,304.33 yuan/ Kg, a decrease of 0.65%; compared with the beginning of the year (01.01) silver spot price of 5550 yuan / kg, a decrease of 5.05%.
The spot price of gold in early trading on July 19 was 378.01 yuan/g, down 0.64% from the spot price in early trading on the 16th; compared with the early spot market price in early July (7.1), the average early trading price was 366.77 yuan/g, an increase of 3.06%; compared with the beginning of the year (01.01) The spot price of gold was 392.70 yuan/g, down 5.05%.
Precious metals have a downward trend
Since late May, the overall trend of precious metal prices has been declining. On the one hand, due to the slowdown in precious metal investment demand, according to relevant data, the global gold ETF holdings in June did not change much, with a total size of 3624 tons, which was a high of 3909 compared to last October. Tons, a reduction of 285 tons. The sharp drop in investment demand is mainly based on changes in the macroeconomic environment, especially the rising trend of global interest rates in the first quarter, and the corresponding game factors—market inflation expectations and concerns are rising. On the whole, it is difficult to reproduce the situation in which prices and volumes have risen due to the early monetary easing policy, and the market has gradually entered a rational range. This also means that the impact factor coefficients will begin to change, and the influence of physical demand on prices will gradually increase. On the other hand, the physical demand for silver is in the process of gradual economic recovery, and demand is expected to support the price of silver to a certain extent, especially the increase in demand for solar panels and the growth of electrical applications. Based on the previous surge, after the silver price gradually squeezes out the investment, the later period will be relatively more resilient.