With the continuous rise of the international gold price, the domestic retail gold price has also continued to rise.
Some gold ornaments amounted to 710 yuan/gram
On April 4, a media reporter visited Chaoyang District, Beijing and found that the gold price of some gold jewelry stores continued to rise sharply, reaching a maximum of 710 yuan / gram.
The reporter learned that in terms of pure gold jewelry, in addition to the aforementioned Zhou Shengsheng, on April 4, the prices of Chow Tai Fook, Luk Fook Jewelry, Chao Hongji, and Liuliufu were 709 yuan/gram, compared with 703 yuan/gram on the 3rd, up 6 yuan, the gold price of the old temple was 707 yuan/gram, up 5 yuan per gram compared with the 3rd, the price of Caibai jewelry was 678 yuan/gram, up 8 yuan per gram compared with the 3rd, and the price of Chinese gold was 660 yuan/gram, up 13 yuan per gram compared with the 3rd.
Although many merchants have launched holiday discounts, on the whole, the price of pure gold jewelry in most stores remains at a high level of about 650 yuan/gram after discounting.
The continuous rise in gold prices also seems to have "scared off" many consumers, the reporter visited a number of stores during the time period of large flow of people at noon and found that there were not many customers buying products, and some stores even had no one to stop except for the clerks.
"There are indeed more customers who think that the price of gold is high, but for those who have needs, such as those who plan to get married on May Day, the sooner they buy, the more suitable it is. The aforementioned clerk said, "Because the price of gold may rise in the future, it is not impossible to reach 750 yuan." ”
On the other hand, according to a number of store staff, there has been an increase in the number of customers who have come to inquire about investing in gold bars recently.
"Big hoarders" have sold off
As the price of gold continues to rise, the repurchase of large quantities of gold raw materials offline has become the "highlight", and many "big gold hoarders" have chosen to sell at the high price of gold.
While offline gold raw material repurchase is hot, some gold stores have also opened an online repurchase model.
Lin Yu, the person in charge of an online gold repurchase business, said: "We allow consumers to realize the rapid realization of gold by using subsidized coupons, free mailing, and preferential handling fees, among which the maximum amount of online gold recycling in a single day has reached more than 3,000 grams." ”
The international gold price has repeatedly hit new highs
As of Friday's close, gold futures for June delivery on the New York Mercantile Exchange closed up 1.60% at $2,345.40 an ounce, another all-time high. From this week's perspective, the international gold price rose 4.78%.
Palmberg, senior quantitative analyst at the World Gold Council, said the gold OTC and futures markets have been active, with an estimated 40% increase in trading volumes. "The gold options market is exceptionally active compared to equities and bonds, which means there is a particular interest in gold at the moment. He said.
There are also many analysts who expect gold prices to hit new highs once the Fed starts cutting its benchmark interest rate, which stimulates demand from investors who are still on the sidelines, such as physical-backed gold ETFs.
In this regard, the Jinyuan Futures Research Report said that the market's expectations for the Fed's first interest rate cut will also swing with economic data and Fed officials' speeches. At present, precious metals are bullish, but short-term chasing higher needs to be cautious.
Tianfeng Securities also believes that the market is widely expected that the Federal Reserve will maintain an accommodative stance, even if inflation is stubborn and economic data is strong, which means that real interest rates will fall further, which is good for gold prices. The recurrence of short-term U.S. economic and employment data may bring back and forth fluctuations in gold prices, but as the negative impact of the high interest rate environment on the economy gradually emerges, the rise in U.S. Treasury yields may be nearing the end, forming support for medium-term gold prices.
According to the China Gold Association, the resilience of gold prices partly reflects investors' expectations that the Federal Reserve will eventually cut interest rates this year. In addition, heightened geopolitical uncertainty has also boosted gold's attractiveness as a safe-haven asset. Finally, solid global official buying of gold so far this year has provided solid support for gold's floor price.
"Heading into the second half of 2024, gold prices are expected to resume their rally once the Fed starts cutting interest rates and signals that it will further accelerate the pace of monetary easing in 2025. The China Gold Association said.
Netizens hotly discussed: I regret not buying gold earlier
For the "soaring" of gold prices, many netizens shouted, their intestines were remorseful, and they regretted not buying gold earlier.
Some netizens also expressed their calmness, saying that they would continue to wait and see.
(Yangcheng Evening News • Yangcheng Pai Comprehensive China Fund News, Financial News, CCTV Finance, Netizen Comments)
Editor: Chen Wanyun
Source: Yangcheng Evening News • Yangcheng faction