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On May 6, 2024, both domestic and foreign gold prices showed large fluctuations, with the international gold price rising and falling by 7.70%, while the domestic gold market price rose and fell by -0.64%.
So how did the price of gold fluctuate on this day, and what caused the price of gold to fluctuate so much on this day?
1. Fluctuations in international gold prices.
As an important safe-haven asset, gold is favored by global investors, and its price volatility is also affected by a variety of factors.
The fluctuation of international gold prices has an important impact on the gold market and investors, and it is necessary to pay attention to the trend of domestic and foreign gold prices in a timely manner.
According to the real-time gold market on May 6, 2024, the opening price of the international gold price on that day was $2314.9 / ounce, the highest price was $2356.6 / ounce, the lowest price was $2299.6 / ounce, and the closing price was $2299.6 / ounce, an increase of 7.70%, updated on 2024/5/6.
According to the real-time recycling price on May 6, 2024, the recycling price of platinum is 321.86 yuan/gram, the recycling price of silver jewelry is 3.55 yuan/gram, the recycling price of gold coins is 571.00 yuan/piece, the recycling price of gold bars is 537.00 yuan/gram, and the recycling price of Pt950 platinum is 304.56 yuan/ g, the recycling price of Pt990 platinum is 321.86 yuan/gram, and the recycling price of Pt999 platinum is 342.56 yuan/gram.
Second, the domestic gold price.
At the same time, it is also necessary to pay attention to the trend of domestic gold prices in a timely manner, and the prices of different varieties of gold vary greatly, and consumers need to make choices according to their own needs and budgets when buying gold.
According to the real-time gold market on May 6, 2024, the domestic gold market price is 542.40 yuan/gram, an increase of -0.64%, the update time is 2024/5/6, and the international gold price is 2310.97 US dollars/ounce, which is equal to 537.97 yuan/gram yuan.
So on this day, there were relatively large fluctuations in gold prices at home and abroad, and what caused these fluctuations?
First of all, there is good news on the US policy front, the US announced that it will cut import tariffs, which is good news for the US dollar, which has been boosted at the same time as gold prices have also been suppressed.
In addition, the US dollar was boosted by the news that the US dollar was more optimistic after the release of employment data, and gold prices were also greatly suppressed.
Domestically, the prevention and control of the epidemic is still the focus of market attention, and although the prevention and control of the epidemic has achieved a phased victory in China, the prevention and control of the epidemic is still an important issue on a global scale.
Especially globally, the vaccination rate is still relatively low, and the prevention and control of the epidemic is still an important issue, which is good news for gold and an important factor in the large volatility of gold prices.
III. Conclusion.
The price of gold is affected by a variety of factors, which are also very complex, and investors need to understand the market movements and news before making investments, so that they can make more accurate investment decisions.
In the process of investing, investors should still pay attention to the risks and not take too risks, otherwise it is easy to lose money.