Maefuku
International gold prices
Breaking the record for May this year
and hit an all-time high
The domestic gold price also set a new record
Gold futures prices on the Shanghai Futures Exchange
It hit a new high in more than a decade
The intraday high touched 485 yuan/gram
The price of domestic gold jewelry is also "rising"
Multiple gold shops
The retail gold station is 630 yuan/gram
△ Gold price on December 4
In recent times, though
Domestic gold price trend
staged a wave of "roller coaster" market
Within a week
The price of pure gold jewelry in mainstream gold stores
From the highest level of 630 yuan/gram around the top
It fell to around 610 yuan/gram on December 12
A bride who bought the "three golds" last week told reporters
She "lost" more than 2,000 yuan in a week
The unit price of pure gold jewelry fell
Can the current market "pick up leaks"?
In a gold brand flagship store on Qinghe Road in Shanghai, the reporter saw that the listed price of pure gold was 611 yuan per gram, and the gold bar was 561 yuan per gram, which had flattened some time ago, but it was still at a high level.
The reporter saw in another gold brand flagship store on December 12 that the unit price of pure gold jewelry was 610 yuan / gram on the same day, and the store said that the current implementation of the discount is 30-40 yuan per gram.
Wang Lan, the manager on duty, said that last week's pure gold jewelry once rushed to the highest level of 631 yuan / gram this year, "these days customer purchasing power is average, some customers feel that the price of gold from the previous high fall, there will be further decline in inertia; of course, there are also customers are also waiting for the business for New Year's Day, the Spring Festival to prepare promotional activities."
She told reporters that with the increase of risk aversion in the market and the improvement of consumers' awareness of "pleasing themselves", domestic gold prices do fluctuate greatly. Since the beginning of this year, the price of pure gold jewelry has risen from more than 520 yuan per gram all the way to 616 yuan / gram on September 26. Since then, with the international market gold price "diving", the price of domestic pure gold jewelry began to fall, on October 3, the market bottomed out to 572 yuan / gram, and then, the price of pure gold jewelry began to rise slowly, until it reached the highest level of 630 yuan / gram on December 4 last week.
The price of investment gold bars is also highly volatile. The reporter learned in a gold flagship store that the basic gold price is 468.5 yuan / gram (refreshed every 5 minutes), taking the most popular variety of Chinese gold Au9999 gold brick thin slice investment gold bar (10 grams) as an example, the price is 4830 yuan. The clerk told reporters that on December 4, the price of COMEX gold futures once exceeded $2,150 per ounce intraday, hitting a record high, so the underlying gold price also rose, reaching a high of 484 yuan / gram.
Consumers' enthusiasm for buying remains undiminished
In the past two days, it was even bought out
However, the high price of gold did not extinguish the enthusiasm of consumers.
Due to the need for value preservation and concerns about the continued rise in gold prices, many consumers choose to buy gold as soon as possible.
Mr. Hu, a consumer, said: "Isn't this gold rising sharply, I think it's all about buying gifts anyway, so it's more practical to choose gold, and it can also maintain its value." ”
In another brand of gold store, the price of pure gold is 607 yuan per gram, the price of craft gold bars is 562 yuan per gram, and the price of investment gold bars is 499 yuan per gram. In the two-day "Double 12" event, the gold price was relatively cost-effective, attracting many consumers. Investment gold bars can sometimes sell out.
Zhu Xia, a sales consultant, told reporters: "From December 1 to December 12, sales increased by 42%-52% year-on-year. Relatively speaking, gold is still liked and welcomed by everyone, because it is also the end of the year recently, and some companies can use it for parties, annual meetings, and so on. “
In fact, the "buy more" mentality of consumers has also led to the growth of gold consumption demand this year.
According to data from the National Bureau of Statistics, from January to October 2023, the retail sales of gold, silver and jewelry of units above designated size reached 274.9 billion yuan, a year-on-year increase of 12%, much higher than the average of 6.9% of the total retail sales of consumer goods.
Why the price of gold fluctuates significantly
Can you still "pick up leaks" now?
Why has the gold price fluctuated so much recently?
Analysts believe that the domestic gold price correction is synchronized with the international gold price. The seasonally adjusted results for November showed that the number of non-farm payrolls increased higher than expected and the previous value, reaching 199,000, and the US unemployment rate in November was 3.7%, lower than the expected and previous value. The U.S. job market remains resilient, and interest rate cut expectations have cooled. As a result, gold prices fell from their highs.
The previous wave of gold price rise was driven by multiple factors.
First, there is widespread bets that the Fed may cut interest rates in the first half of next year. If interest rates fall, it could weaken the position of the US dollar, making US dollar-denominated gold more attractive to international buyers, thereby increasing demand. Secondly, the intensification of geopolitical conflicts in the Middle East in the past two months has also become a factor supporting the rise in gold prices. In addition, the uncertainty of next year has increased investor demand for safe-haven assets. Most notably, global central banks bought 800 tonnes of gold in the first three quarters of 2023, acting as a catalyst for gold prices.
So, at the moment when the price of gold has fallen to a certain extent, is it appropriate to make a move?
Experts suggest that at present, the interest rate of the deposit bank is low, the property market is sluggish, and other investment products are facing uncertainty. However, the price of gold is at an all-time high, so don't blindly chase the rise, just buy what you need.