On Monday this week, spot gold opened sharply higher and then fell back, closing slightly down 0.07% in late trading. At the same time, reporters from the Financial Investment News visited major banks and gold stores in Chengdu and found that after gold prices reached highs, inve

Recently, the trend of international gold prices has been ups and downs.

On Monday this week, spot gold opened sharply higher and then fell back. closed slightly down 0.07% in late trading. On March 1, spot gold was once under pressure.

At the same time, reporters from Financial Investment News visited major banks and gold stores in Chengdu and found that after gold prices reached highs, investors became more cautious about the future gold market, and many people chose to settle for safety. The latest trend of

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Recently, with the evolution of the situation in Russia and Ukraine, the gold price trend of and has also been ups and downs.

html On February 21, the situation between Russia and Ukraine escalated. That night, the international gold price for spot gold exceeded a new high of US$1,900 per ounce. In early trading on February 22, spot gold prices hit a maximum of $1,914 per ounce, a new high in more than eight months.

On February 24, the conflict on the Russia-Ukraine border intensified, and the price of gold soared again. Spot gold hit a maximum of $1,974.27 per ounce that day, setting a new high since January 2021. However, the price of gold subsequently plunged and closed down 0.26% at $1,903.90 per ounce.

Subsequently, as the negotiation news progressed, the spot gold price continued to adjust.

On Monday this week, spot gold opened sharply higher, once reaching $1,930, but fell sharply from its high during the U.S. trading session, closing slightly down 0.07% at $1,909.05 per ounce.

html On March 1, spot gold in Asia continued to be under pressure and began to rise in the afternoon. As of press time, it was trading around US$1,919 per ounce.

(Source of spot gold Asian market trends: Hexun.com)

Spot gold prices are under pressure, and gold stocks in the A-share market are also diverging.

html At the close of trading on March 1, the A-share gold sector fell 0.83%. Among them, the share price of stock , which had a strong performance in the early stage, began to fall.

For example, China Gold , which has increased by more than 50% in the past month, once fell by more than 5% on March 1, and the final decline narrowed to 17.65 yuan/share, down 2.77%; the jewelry company , which has increased by more than 40% in the past month Mankaron also fell by more than 6% that day, and finally reported at 21.26 yuan per share, down 2.70%.

In contrast, the stock prices of Cuihua Jewelry, Zhou Dasheng , *ST Park City, etc. have risen one after another. Among them, Cuihua Jewelry has the largest increase, closing at 10.38 yuan per share, up 6.46%.

A reporter from the Financial Investment News found that on March 1, the price of gold in major gold stores still maintained an upward trend , with the largest increase being Chow Sang Sang's price of 10 yuan/gram, with a quoted price of 500 yuan/gram. The trendy Acer with the highest gold price is quoted at 506 yuan/gram.

In addition, Caibai, which has a relatively low quotation, has given a price of 495 yuan/gram, which is only 1 yuan lower than the Chinese gold quotation of 496 yuan/gram.

Chengdu market:

"Auntie" sells goods on high prices, and pawn shops are booming

So, what is the current market situation of Chengdu's gold market? A reporter from Financial Investment News found that many citizens took advantage of the surge in gold prices to take profits.

"Due to the recent tension between Russia and Ukraine, more and more customers have inquired about gold bars and repurchase status in the past few days." A staff member of a Construction Bank online store on Chunxi Road said: "There are young and old people. Invest in gold bars The latest price of is 401.1 yuan, and the repurchase price is based on the real-time price of the day minus 18 yuan. "

reporter learned that the current price of gold bars invested by major banks in Chengdu is in the range of 390 yuan to 400 yuan, and the repurchase price is higher than the purchase price on the day. The price difference ranges from more than ten yuan to dozens of yuan.

A staff member of an Agricultural Bank of China online store on Chunxi Road revealed: “Most of the people who buy gold bars from us these days are for jewelry, because the current price of gold jewelry in gold stores is more than 500 yuan, and the price difference with gold bars is the largest. It can reach up to 100 yuan, and the price in processing stores is only more than 20 yuan per gram, and the cost is much lower than that in gold jewelry stores. If you want to invest, it is recommended to choose paper gold . In fact, the price of gold has risen sharply in recent days. "Many investors tend to take action. " An unidentified person told a reporter from the Financial Investment News: "The regional conflict between Russia and Ukraine is only a short-term catalyst. In recent years, gold investment has become one of the diversified investment channels, and the number of participants has increased. . Recently, some elderly people who have bought physical gold for a long time are asking about the recycling situation.A reporter from

Financial Investment News found in an interview that despite the rise in gold prices, some investors are becoming more cautious. Even the "Chinese aunts" who love to hoard gold do not buy hastily, and more "aunts" choose to sell on highs.

Ms. Liao, who is keen on investing in gold, just sold a bank’s paper gold product that she had held for more than two years. “It is convenient to invest in paper gold. The price I sold was 385.4 yuan, which was a lot of profit. "

Picture provided by the respondent

Regarding the current gold price, Ms. Liao believes that is "a bit high. She will not buy it easily at the moment and wait and see." "

A pawn shop located in the city center has recently experienced a boom in gold bar sales, and business is booming.

"The gold recycling price on March 1 was 380 yuan, which is the highest price in more than a year. Russia and Ukraine The recycling price before the epidemic was 360 yuan, and last year it was only 280 or 290 yuan. "The boss revealed: "In the past few days, people have been coming to me one after another with bank gold bars to cash out. "

Regarding the specific transaction amount, the boss only said: "The largest customer came to the door with a large gold bar of 1,000 grams. The quantity cannot be disclosed. "

He also said: "If the quantity is large, we can also do door-to-door transactions. After confirming the goods, we can transfer the money on the spot via mobile phone. "

Outlook on the market outlook:

"difficult to predict" in the short term and still bullish in the long term

In fact, as the trend of gold fluctuates, investors and institutional views tend to be conservative.

The above-mentioned pawn shop owner judged that the possibility of continued upward breakthrough in gold prices in the short term is unlikely "Those in our industry are paying attention to the international gold price every day. Although the outcome of the negotiations is still unclear, we believe that the most dangerous moment has passed, panic has been released, and it is less likely to continue to rise. "

Some analysts pointed out that the first round of Russia-Ukraine talks ended without the expected results. If geopolitical tensions between Russia and Ukraine continue, it may cause the price of gold to remain strong. However, if the situation between Russia and Ukraine improves and no longer worsens, the price of gold will avoid The risk attribute may also be further weakened.

Financial Investment News reporters noted that as gold prices continue to fluctuate, some institutions have also begun to emphasize that short-term changes in gold prices are "difficult to predict."

Goldman Sachs said that the price outlook for gold and other precious metals will be more volatile in the short term. Difficult to predict, but bullish in the medium term. Driven by rising energy prices, the escalation of the situation between Russia and Ukraine has brought obvious stagflation risks to the overall economy, giving Goldman Sachs more confidence that gold prices can reach the target price of $2,150 per ounce in a few months. .

However, Goldman Sachs was bullish on gold to US$2,000 per ounce last year, but was ultimately beaten by the market.

Bohai Securities research report pointed out that considering the uncertainty of the Russian-Ukrainian situation, short-term risk aversion has been released, and From a technical perspective, COMEX gold is under great pressure around $1,960 per ounce.

Gold is facing adjustment pressure in the short term.

From a mid- to long-term perspective, global inflation is high and the Fed’s aggressive interest rate hike expectations are being adjusted. Under the influence of factors, after gold has experienced short-term adjustments, it is expected to regain support around $1,880 per ounce and start a new upward trend. In the medium and long term, gold still has allocation value.

Chuancai Securities believes that gold prices will continue to strengthen in the future. The probability is high. Since the beginning of the year, due to the re-pricing of U.S. high inflation and monetary policy, U.S. stocks and bonds have doubled, and the safe-haven attribute of gold has regained the favor of funds, including investments in gold-related stocks, gold ETF and gold futures The target has received capital inflows.

In the short term, it is difficult for the Russia-Ukraine issue to be alleviated quickly, and the subsequent gold price is expected to continue to strengthen due to Fed interest rate hikes and geopolitical factors.

This article comes from the Financial Investment News

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