Spot precious metal prices were weak during the year, and prices rebounded in April
According to business news agency data, on May 17, the average price of silver market in the morning was 5639.33 yuan / kg, up 2.57% in the day, up 6.91% from 5321.67 yuan / kg in the spot market at the beginning of the month (May 1); Compared with the spot price of silver at the beginning of the year (01.01), it was 5550 yuan / kg, an increase of 2.51%.
On May 17, the spot price of gold was 385.59 yuan / g, up 1.6% in the day, 4.5% higher than the average price of 369 yuan / g in the early morning of may (5.1); Compared with the spot price of gold at the beginning of the year (01.01), it was 392.70 yuan / g, down 1.81%.
US data at a glance
In April, the consumer price index (CPI) of the United States increased by 4.2%, the biggest increase in 13 years, and the producer price index (PPI) increased by 6.2%, the biggest increase in history.
In theory, precious metals are the best choice to fight against inflation. At present, it is in the best interests of the Federal Reserve to keep interest rates low and the US dollar devaluation. At present, economic data does not support the operation of raising interest rates, which is beneficial to precious metals to a certain extent.
Frequent geopolitical events
At present, the situation in the Middle East is sudden, and the conflict between Palestine and Israel breaks out again, which to a certain extent causes the market risk aversion.
Silver consumption expected to improve
In terms of physical consumption, the industrial demand for silver and platinum is expected to grow strongly driven by economic recovery, especially driven by the concept of green and renewable energy.
| PVA |