1. Gold prices have risen one after another?
From the evening of November 10th to the early morning of November 11th, Beijing time, gold prices soared, with a sharp rise of nearly 3% to reach the highest point in two and a half months. Although spot gold in the Asian market fell slightly after soaring nearly $50 the day before on November 11, the price of gold still stood around $1,750 per ounce. As of 10:00 on November 11, Beijing time, the price of international spot gold is US$1,747 per ounce.
International spot gold closed at $1,755.40 per ounce on Thursday, up $48.49 throughout the day, and gained 2.84%. The price of gold intraday reached a high of $1,757.11 per ounce, the highest point in 11 weeks since late August this year. On the same day, data released by the U.S. Department of Labor showed that the annual rate of the U.S. consumer price index (CPI) in October rose 7.7%, significantly lower than 8.2% in September and 8% expected by the market.
The gold futures price for delivery on the New York Mercantile Exchange also closed up $40, or 2.3%, at $1,753.70 per ounce, the highest closing price since August 25 .
was affected by the sharp rise in international gold prices of overnight. The domestic market price of precious metals also rose sharply on November 11. Gold stores in Beijing began to significantly increase the prices of gold jewelry this morning. On the morning of November 11, the price of gold jewelry in mainstream gold stores such as Caibai and Guohua was generally raised by 9 yuan/gram. Taking the 999 jewelry of the full gold as an example, the current price is 517 yuan/gram, an increase of 9 yuan per gram from the previous day.
2. Is this a good time to invest in gold?
We have seen the gold sector rise sharply in recent times, and many people are asking, is this time a good time to buy gold? Are all gold stocks or gold products suitable for purchase?
First of all, we must understand that the current sharp rise in gold is actually a very normal phenomenon. The core reason is that the entire market is actually facing relatively large downward pressure. In the downward situation of the entire market, most people actually urgently need better investment targets. We can see that investments like Yu'ebao are very poor. So under such a background, buying gold has become a common choice for many people. In fact, the entire capital market is a process of sharing expectations. If everyone thinks this product is better, there will naturally be a possibility of a big increase. Especially gold is a long-term hard currency that has been used for thousands of years in the world. Whenever the economy encounters relatively large-scale downward pressure, there is actually a possibility that gold will rise sharply. This is the law of the development of the entire market.
Secondly, the current gold price has seen a relatively obvious successive surge. In fact, there are certain downward risks in the current development of the entire market economy. Under the downward situation, gold has become the most likely investment product in the market. But we should not forget that gold has experienced a significant increase at present. Under such circumstances, the short selling pressure of gold itself has actually begun to grow, and the entire market is under such a huge short selling pressure. If you have not bought gold before, you may face greater risks. Therefore, it is generally not recommended to conduct large-scale operations when investment products such as gold rise on a large scale, which may often lead to larger problems.
3. From the perspective of long-term market development, we will find that unless the US dollar depreciates significantly, the overall price of gold may actually be risky. Therefore, the operation of gold investment should be more inclined to band investment to find some trends in gold during the ups and downs, so as to help yourself get more profits. At the same time, we should pay special attention to the risks in the development process of the gold market, and find the development trends and characteristics of the gold market in the process of investment. This may be what we must do.
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