On October 21, international gold price continued to hit a new low since September 28 to $1,617.12 per ounce, as strong labor market data and hawkish remarks from the Federal Reserve official hawkish comments weakened the attractiveness of gold, and the 10-year US bond yield hit a new high since June 2008.
Affected by this, the gold prices of major domestic gold stores in have dropped significantly. Currently, the highest gold price is still week dasheng , with a quotation of 508 yuan/gram, and the lowest gold price is Caibai, with a quotation of 486 yuan/gram.
As of press time, the gold price of Zhonggui Treasury investment gold bar was 387/gram. It fell 2 yuan/gram from yesterday. Note: China Gui Treasury Investment Gold Bar Gold Price Reference Shanghai Gold Exchange Gold Price.
The latest prices of major brands of gold stores are shown in the table below, for reference only:
The current gold price of domestic gold stores has basically fallen below 500 yuan/gram. Only Zhou Dasheng is still strong, but the international gold price will continue to fall in the future.
Federal Director Cook said inflation pressure is unacceptable and more rate hikes are needed to curb inflation. She further added that interest rate hikes will continue in the future and restrictive monetary policy will be maintained afterwards.
Philadelphia Fed Chairman Huck hinted that the Fed would "continue to raise interest rates for a while" to curb inflation, prompting investors to prepare for another super-large rate hike at the upcoming November policy meeting.
For gold prices in the future, Stephen Innes, managing partner of SPI Asset Management, said that the Fed's tightening cycle has just passed halfway, and interest rates may still have more room for upward, and gold may continue to fall
In short, gold may continue to be weak in the near future, but the lack of major data/events may limit the decline. Next week, the Fed's decision-makers will enter a period of silence before the November policy meeting.
However, in the current environment, compared with using money for venture capital, more people use physical gold and art to achieve asset preservation. In , the precious vault is a place for storing valuable items, a safe deposit box rental center.
