On the evening of April 22, international gold and silver prices fell sharply, with gold falling more than 2% and silver falling more than 4%.
Gold prices retreated as geopolitical tensions in the Middle East eased, safe-haven demand declined, and traders focused on US PCE data due this week, analysts said. Nicholas Frappell, global head of institutional markets at ABC Refinery in Sydney, said the Iranian government's downplay to Israel's response and said it would not retaliate deprived the market of some of its risk premium. Today's bearish sentiment on oil also supports the idea of easing tensions in the Middle East.
CITIC Futures believes that Israel's counterattack has avoided the "key point" of the dispute between the two sides, and the strength is not large. Iran also intends to downplay the conflict, so the conflict between the two sides may tend to taper as a result.
On the news, Israel and Iran attacking each other have raised fears of a full-scale war in the region, while Iran has downplayed the impact and significance of Israel's recent attacks. A spokesman for the Iranian Foreign Ministry called the Israeli attack insignificant and militarily worthless.
In addition, the U.S. gold sector was generally lower. AngloGold was the worst performer with a 7% decline. Harmony Gold fell more than 6%, and Pan American Silver, Barak Gold, and Gold Fields fell together.
Affected by the decline in international gold prices, domestic A-share gold stocks fell sharply on April 23.
As of around 14:50, the Wind Gold Select Index was down 3.89% to 2627.66. Among them, Yintai Gold (000975.SZ) fell 4.89% to 17.89 yuan, and Shandong Gold (600547.SH) fell 4.61% to 28.99 yuan.
On the same day, Zijin Mining (601899.SH) fell 4.16% to 17.06 yuan, CICC Gold (600489.SH) fell 4.1% to 12.4 yuan and Hunan Gold (002155.SZ) fell 3.49% to 13.54 yuan.
Gold and jewellery stocks also fell.
Among them, Laishen Tongling (603900.SH) fell 9.93% to 6.08 yuan, Mancaron (300945.SZ) fell 7.14% to 10.4 yuan, Yulong shares (601028.SH) fell 6.34% to 10.2 yuan, and Sichuan Gold (001337.SZ) fell 5.7% to 25.3 yuan.
Gold jewellery prices fell over the same period. On April 23, the price of Chow Tai Fook pure gold jewelry was 719 yuan/gram, compared with 733 yuan/gram the day before, down 14 yuan/gram overnight, and gold jewelry such as Zhou Shengsheng, Xie Ruilin and Laomiao Gold fell 15 yuan/gram.
Gold jewellery fell by 15 yuan/gram overnight
Do Hangzhou people still dare to buy it?
Today (April 23), the reporter visited a number of gold jewelry brand counters in Hangzhou and found that the retail gold price was reduced by about 14 yuan.
Although it is a working day today, the reporter saw that from time to time there are customers who come to choose gold jewelry. "Let's take a look first, it just fell a little bit, and it may continue to fall. I still want to buy it if it falls, after all, gold retains its value. A young girl said.
"Last week's highest was 738 yuan/gram, yesterday it fell a few yuan, and today it fell sharply. The staff of Lukfook Jewelry told reporters, "It's almost May Day, and we now have activities, and some goods can be reduced by 50 yuan per gram." ”
Source: China Fund News, CCTV Finance, Jiemian News, Meiman/Business Daily
Editor: Miyoshi