01
During the just-concluded three-day Mid-Autumn holiday, the sales boom in gold physical stores suddenly broke out, and many friends shared their joy by posting pictures. From these pictures, we can see that many customers appear in many gold shops.
is not just physical gold, but also investment gold has ushered in a small peak in purchasing.
From the gold price, we also saw that the gold price during this period returned to 380 yuan per gram, a decrease of nearly 20% from the highest in the first half of the year 460 yuan.
can also see the decline during this period from the international gold price. It was at its highest on August 10, at $1,824.6 per ounce, and it is currently only $1,710.2, and it has fallen by more than $100 in a month.
Then there are important holidays such as National Day, Christmas, New Year's Day, and Spring Festival. The demand for gifts and weddings have driven the consumption of physical gold. Some sales staff at some stores revealed that recent gold sales have increased by 20% compared with last year's Mid-Autumn Festival during the same period.
02
Why do people suddenly like to buy gold again during this period?
should have several main reasons for the impact.
The first is that the epidemic broke out in many places in the first half of this year, which caused consumption in many places to be suppressed. Some people may be blocked at home, while others may be blocked even if they are not blocked, considering the risks of the epidemic, they have to save money.
But by the second half of the year, the situation seemed to be much better, and gold consumption has recovered.
The second one, the price of gold is definitely an important factor that attracts the enthusiasm of many buyers.
However, in recent months, the international gold price of has shown a significant decline, and the current price is only in the range of 1700 to 1750. So compared with the gold price in the first half of the year, the current price is very attractive.
03
However, buying gold now is more of a consumption purpose. If you start from an investment perspective, it may not be appropriate. The future trend of gold prices is unlikely to rise too much. The main reason for
is that in the past 20 years, gold has slowly lost the properties of traditional precious metal .
In the past, people were accustomed to buying gold to fight inflation and vicious risks. However, since the subprime mortgage crisis in 2008, countries such as Europe and the United States have injected liquidity into the market. Due to the proliferation of liquidity in the short term, gold has gradually become a trading tool.
And in the current situation, the hike of the US dollar rate will further push up the dollar index , while gold is denominated in US dollars. The strengthening of the US dollar will naturally suppress the price of gold.
At the same time, a lot of safe-haven funds flowed out of gold and transferred to the US dollar, which also caused insufficient demand for gold.
So under these influences, it is difficult for gold to rise significantly for the time being, and it is even possible to continue to move forward.