This morning I heard news that the price of gold in domestic gold shops fell back to more than 900, Lao Miaojia dropped to 999 yuan per gram, Zhou Shengsheng 1,003 yuan, and Zhou Taifu 1,005 yuan. The day before, it was more than one thousand, and the decline was really fast. I checked the reason, mainly because the employment data in the United States are good, and they are unlikely to cut interest rates this year, and gold will fall when the US dollar rises.
The number of jobs announced in the United States on June 6 was more than 300,000, which exceeded everyone's expectations. As soon as this data came out, the market felt that the Fed would no longer rush to cut interest rates. In addition, the US Treasury yield rose and the US dollar index rebounded. International gold prices fell less than 1% on the same day, and New York gold futures closed at more than 3,346 yuan per ounce.
The price adjustment of domestic gold stores is closely linked to the international gold prices. The old temple family still had 1,008 yuan the day before, which directly reduced by 9 yuan; Chow Tai Fook's decline was the largest, with 15 yuan falling. However, the declines between brands are different, and there may be differences in processing fees or something. Some gold shops in Shanghai said that many people came to ask for the price in the morning, especially those who wanted to buy gold when they got married.
Experts say gold prices are taking a roller coaster this year, and Morgan Stanley predicts that it will reach up to $3,800 per ounce, but the short-term volatility is too large. The recent international trade situation and stock market movements may affect gold prices. Some analysts reminded that although the price is low now, ordinary people still have to use it to buy gold jewelry. Don’t just think about investing.
In addition to international gold prices, domestic gold shop prices must also be included in exchange rates and processing fees. For example, the quotation of the Shanghai Gold Exchange has dropped by more than 4 yuan, but the terminal retail price has sometimes dropped even more due to inventory and channel costs. Brands like Chow Tai Fook have a high proportion of craft costs to the total price, so the decline will be a few more yuan in the same wave of decline.
The central bank has been buying gold recently, and many people buy gold bars and gold jewelry. However, the sharp drop in gold prices is very risky for novices. Data from some trading platforms in Shenzhen said that 40% of the people who followed the trend during this period lost.
Now that the gold price is at this position, there are indeed more people buying jewelry than before, especially for marriage. But it is not easy to make money by speculating on gold, and the market is getting too fast. Experts say that you should buy products with good liquidity now and don’t touch those complicated investment products.
The Fed may continue to observe employment data at a meeting next month. If the US economy is not that hot, gold prices may still rise. But if you really want to bet on this, ordinary people might as well pay more attention to what they are at hand.
There are more people queuing up at the entrance of the Golden Store now, but the price has changed several times a day. You have to see whether you buy it or not. Anyway, it is a good thing to be cheap, but don’t just think about making quick money.
