With the continuous decline of international gold in recent days, most domestic gold shops have followed suit, and the average price of gold has dropped to about 5 10 yuan. The price of vegetable gold is even as low as 505 yuan/gram. At present, the prices of Zhou Dasheng and Laofengxiang are the most expensive, which are 5 13 yuan/gram. This is the gold price announced by the gold store official website today, for reference only:
Gold shop quotation
Today's gold price
unit
amplitude of fluctuation
High tide and low tide
Old temple gold price
5 10
Yuan/gram
five
autumn
Liu Fu gold price
5 1 1
Yuan/gram
four
autumn
Chow Tai Fook gold price
5 1 1
Yuan/gram
four
autumn
Leofoo gold price
5 12
Yuan/gram
four
autumn
The highest price of gold
5 1 1
Yuan/gram
four
autumn
Laofengxiang gold price
5 13
Yuan/gram
2
autumn
Chaohongji gold price
5 1 1
Yuan/gram
four
autumn
Zhou Shengsheng gold price
5 10
Yuan/gram
three
autumn
Caibai gold price
505
Yuan/gram
flat
The price of gold in China
5 10
Yuan/gram
flat
Zhou Dasheng gold price
5 13
Yuan/gram
flat
Back to the international oil price, Beijing time 153360 1 1, spot gold rose by 0.02% to 1822.79 USD/oz; The dollar index fell 0. 13% to 104.274.
The recent general rebound in the stock market has adversely affected safe-haven precious metals. In addition, the expectation that the Federal Reserve will tighten monetary policy faster to curb soaring inflation may also limit the rise of gold, an unprofitable asset.
Federal Reserve Chairman Paul told members of Congress that the Fed promised to "unconditionally" curb the high inflation not seen in nearly 40 years, although he admitted that a sharp interest rate hike might push up the unemployment rate.
Goldman Sachs analysts believe that the Fed may be forced to introduce a drastic tightening policy after inflation expectations face upward risks. "A few months before the mid-term elections, there will be a series of political declarations that emphasize high inflation. Inflation expectations have always been quite sensitive to political results. "
Matt Simpson, senior market analyst at City, said, "The dollar is still at a high level. At present, the Federal Reserve expects to raise interest rates by 75 basis points in July, and the market-oriented inflation expectation indicators with inflation-protected bonds (TIPS) spreads of 3,354 and 3,354 are also close to the four-month low, which limits the rise of gold. "
According to the latest data of Chicago Mercantile Exchange Group, the number of open contracts in the gold futures market increased by about 250,000 overnight, a decrease from the previous day. At the same time, the volume continued to fluctuate, increasing by about 16400 lots. When the price of gold fell, the open contracts and trading volume increased, which opened the door for further decline in the short term. In this regard, the price of gold will try to fall to the $65,438 +0800 mark.
Investors are still worried that more radical measures taken by major central banks will pose a challenge to the global economic recovery. However, the PMI data released in Europe and America overnight was disappointing, which further aggravated people's concerns about possible recession.
The deteriorating global economic outlook may continue to support gold and help limit any meaningful decline. Against the background of mixed fundamentals, it is necessary to be cautious before opening positions on the recent gold price trend.
Related Q&A: How much is a gram of CCB gold bars? The price of CCB Dinglong gold bar is 348 yuan/gram. CCB's own brand gold bars are "CCB Gold", including 50g, 100g, 200g, 500g, 1000g and 2000g. At present, the price of gold bars in CCB Bank is 348 yuan/gram, and the recovery price of gold bars is 327.5 yuan/gram. This price is for reference only, because the price of gold bars will change constantly, and the prices of different branches are different. However, as can be seen from the reference quotation, the quotation of CCB Gold is inconsistent with the quotation in the gold market, and the quotation of CCB Gold will be improved on the basis of international and domestic gold prices. 1. What is the recovery process of CCB gold bars? 1. You need to bring your ID card, bank debit card, purchased object and their certificates to CCB. Before recycling, the porter will explain the relevant precautions to us. With the consent of both parties, the bank will identify the physical weight and quality, judge whether to recycle, and determine the details such as the price of recycling. After confirming the recovery, there will be a repurchase letter. After delivery, the amount needs to be directly transferred to the CCB debit card, and it cannot be traded in cash. 2. The customer brings his/her ID card, CCB debit card, physical gold and supporting materials to the repurchase counter of the branch business department and presents relevant certificates and vouchers. If the single repurchase amount exceeds 1kg, or the cumulative repurchase amount exceeds 1kg in a single day, an appointment must be made two working days in advance. 3. The person in charge of Party B shall explain the real-time repurchase price and related matters to the customer, and the customer shall sign a letter of intent for repurchase after both parties agree. 4. The handling personnel of Party B shall conduct physical gold inspection to determine the weight and quality of physical gold. 5. After the physical gold is verified to be correct, the customer fills in the repurchase confirmation letter, which should clearly indicate the repurchase weight, variety and color, delivery price, transfer amount and other factors. Both parties make physical delivery. 6. After the physical delivery is completed, Party B will fully transfer the repurchase money to the customer's CCB debit card account instead of paying cash directly. Second, are the gold bars bought by banks reliable? It is necessary to know whether the gold bars bought by banks are reliable, mainly from three dimensions: gold purity, gold price and recycling. 1. Gold purity: At present, almost all major banks have launched physical gold for investors to buy, and also launched their own brand gold bar products, such as CCB Gold and ICBC Ruyi Gold. Compared with ordinary gold shops, the purity and quality of gold are still relatively guaranteed. However, it can be found from all kinds of news that the bank's gold bars are not foolproof, and the rust of gold bars occurs frequently. But if we don't unpack the gold bars and keep the relevant vouchers, there will be no problem under normal circumstances. However, if we damage the packaging of gold bars because we want to check the rust, then the bank will probably refuse to recycle them. 2. Gold price: Compared with ordinary gold shops, the purity of bank gold bars is more secure and the relevant vouchers are more convincing. Therefore, banks usually earn premium value when selling branded gold bars with bank logo, and the price is slightly higher than the real-time gold price. 3. Recovery and realization: Similarly, gold bars purchased in banks are easier to realize as long as they are well preserved and have relevant vouchers. But it is usually realized at the place of purchase, because under normal circumstances, banks only recycle gold bars issued by the bank. Besides, not all products will be recycled. It is very likely that only gold bars have no gold price, and some gold bars with special significance will not be recycled, such as New Year's gold bars, which have added value, but are more suitable as collectibles. Related question and answer: the price of gold has fallen! How much is a gram of gold in major gold shops on June 24, 2023? The price of gold has fallen, but the decline is very small, in fact, it has little impact.
Let's look at the price of gold on June 24th.
Judging from the quotations of major gold brands on June 24th, most gold prices are between 5 10 yuan -5 13 yuan.
Among them, Laomiao gold is 5 10 yuan per gram, Liufu gold is 5 1 1 yuan per gram, Chow Tai Fook is 5 1 1 yuan per gram, Leofoo is 5 12 yuan per gram, and Gold Supreme Gold is 5/kloc-0 per gram.
Most of these mainstream gold brands have fallen. Among them, Laomiao Gold has the biggest decline, reaching 5 yuan per gram, while other brands, including Lukfook Gold, Chow Tai Fook, Golden Saturday and Fujin Supreme Gold, all fell in 4 yuan.
China gold, Zhou Dasheng gold and Caibai gold are all flat, neither rising nor falling.
If we look at it for a long time, such as comparing the price of gold in the last two months, the overall decline of the price of gold is more obvious.
In May 1 day, the main gold price remained between 5 18 yuan and 523 yuan, which is equivalent to the last two months, and the gold price dropped at least 10 yuan per gram.
The recent decline in domestic gold prices is mainly due to the overall decline in international gold prices.
Since February 2023, due to the conflict between Russia and Europe, the international risk aversion has been strengthened, leading to the soaring price of gold. By March 8, the international gold price once reached $2,070.
Only from the end of April, affected by the Fed's interest rate hike, the international gold price began to fall continuously. By May 16, the international gold price had fallen to about 18 10. From late May to now, the international gold price has been at 18 10.
However, with the Fed raising interest rates by 75 basis points, there may be two or three interest rate hikes in the future, and it is expected that gold prices may continue to fall.
However, under the background that the conflict between Russia and Ukraine has not been completely eased, the future international economic development prospects are not optimistic, and even some countries may fall into recession, even if the Federal Reserve continues to raise interest rates and the US dollar continues to strengthen, it is estimated that gold will not fall too much in the short term, and there may be a special situation in which gold and the US dollar strengthen at the same time.
After the conflict between Russia and Russia, Russia successfully resisted the financial sanctions in Europe and America by using its huge gold reserves, which made everyone realize the importance of gold again.
Therefore, once the price of gold drops slightly in the future, we do not rule out that many countries may increase their holdings of gold, so that even if the dollar continues to strengthen, the demand for gold may still be in a relatively strong state.
It is predicted that the international gold price may still fluctuate between $65,438 +0.500 and $65,438 +0.900 for a long time to come.
In this way, the domestic gold price will not drop too much, and at present, the domestic gold price is not determined by simply referring to the international gold price, and many of them are price limits.
The price here includes not only the price of gold, but also many costs, such as processing costs, leasing costs, labor costs, marketing costs and so on. Therefore, even if the price of gold falls sharply, the domestic price of gold will not keep pace with the international price of gold.
This can be seen from the purchase price of gold in major domestic brand gold shops.
For example, at present, the retail price of major gold shops reaches about 5 10 yuan, but the price of gold they recycle is only about 380 yuan, which is equivalent to the gap between the gold recycling price and the retail gold price reaching about 130 yuan.