Chinanews client, Beijing, July 29th (Peng Jingru) 1920, 1930, 1950, 1980 USD per ounce! In the past few days, the price of gold has repeatedly hit new highs.

　　During the early trading hours on the 28th, London spot gold opened at $1,941.26 per ounce. After that, the price went up all the way, reaching the highest price of $1981.2 per ounce during the session, setting a new record.

London spot gold chart.

Gold prices have repeatedly hit record highs, "Thank you mother-in-law!"

　　Affected by the rise in international gold prices, the price of gold jewelry in domestic gold shops has also risen repeatedly, and has now risen to historical highs.

　　"Recently, the price of gold has been on a rocket. We adjusted the price several times in July." A person in charge of a gold shop in Beijing's Haidian District said that the spot price of gold in London just exceeded the $1,800 mark on the 8th, and the price of gold jewelry in Beijing rose at that time. It was 12 yuan/gram, "It's been less than a month, and now it has risen so much."

　　On the 28th, Chow Tai Fook found that the price of gold was 573 yuan/g, the price of Luk Fook Jewellery’s pure gold bars was 563 yuan/g, and the price of China’s high-end craft gold bars was 518 yuan/g.

Data map: Employees display gold jewelry at Yijin Store in Taiyuan, Shanxi. Photo by China News Agency reporter Zhang Yun

　　The rising price of gold has stunned the newly married couple this year: Still rising? Can I still wear the "three golds" for marriage this year?

　　"No three gold, no marriage." Many places have the custom of buying the "three golds", which are given to the bride by the groom's family, which represents the importance the man's family attaches to the bride.

　　The traditional three golds refer to: gold ring, gold bracelet, and gold necklace. There are also necklaces, bracelets, and gold rings.

　　"I thought about buying the'three golds' again in a few months, but now I am thankful that my family urged me to buy it." In March, due to the rise in gold prices, Mr. Huang and his fiancee, who were planning to get married this year, wanted to wait and see before buying, but the mother-in-law urged me to buy it. In a hurry, I bought a full set of gold jewelry in early April.

　　"According to the current gold price, this set of jewelry saved about 10,000 yuan, thank you mother-in-law for pushing us." Mr. Huang said.

　　Take Chow Tai Fook as an example. The price of gold at the end of March was 475 yuan/gram. A 30-gram gold bracelet, calculated at the current price difference of 98 yuan/gram, can save 2940 yuan!

　　Unlike Mr. Huang’s luck, someone on the Internet sighed: If the price of gold goes up like this, I won’t be able to get married...

The $2,000 mark is in sight: hoarding more gold and making more money?

　　"It should continue to rise. Why didn't I buy more." Ms. Li buys some gold bars and coins every year.

　　"The world's largest gold ETF-SPDR holdings increased by 50 tons to 1,228 tons in a single month in July, continuing to set a new high in eight years, but there is still a certain gap from the peak of 1,340 tons set in 2012, which may mean that gold prices still have room for growth. "Said Liu Dongbo, a senior researcher in the non-ferrous group of SDIC Anxin Futures Research Institute.

　　Gold's next target is $2,000 per ounce! Can this flag, which is currently generally optimistic, stand up?

　　Goldman Sachs previously raised its gold price forecasts for the next 3 months, 6 months, and 12 months to US$1,800/ounce, US$1,900/ounce, and US$2,000/ounce, respectively, from US$1600/ounce, US$1650/ounce and US$1800 respectively /ounce.

　　The latest report of UBS also raised its gold price expectations, raising the gold price forecast at the end of September this year to US$2,000 per ounce, and is expected to fall back to US$1,900 per ounce at the end of the year.

Data map: Gold bars displayed in a gold shop in Taiyuan, Shanxi. Zhang Yunshe

　　Bank of America Merrill Lynch’s forecast is more optimistic, believing that the price of gold may even reach $3,000 per ounce. "In the next few years, the world will face uncertainty, which will add fuel to the rise in gold prices. The market needs to see more certainty factors before gold prices may peak."

　　"I feel I no longer have the right to laugh at my mother for grabbing gold back then. Listening to my mother, hoarding more gold and making more money." Miss Li said that when her mother bought gold bars in a gold store in 2013, she had sneered at this follow-up behavior.

　　At that time, the price of gold plummeted. The international price of gold was between US$1,200 and US$1,300. "Chinese aunts" snapped up gold, and even the Wall Street "financial predators" who shorted gold were shocked. Various gold jewellery bars in shopping malls in many places have been sold out.

　　Now, the credit of the US dollar is facing serious challenges, which is an important reason why many people are optimistic about the follow-up trend of gold.

　　“Gold price trends are strongly correlated with the US deficit, because the US deficit reflects the decline in the credit of the US and the US dollar.” Liu Dongbo analyzed that as the US currency is over-issued, uncontrolled printing of money will damage the US dollar’s ​​status as a global reserve currency. However, the supply of gold does not increase but declines, and the relative scarcity makes gold prices have a basis for rising.

Silver can't afford it too?

　　As the price of gold rises, silver is also considered to have room to catch up. In recent days, silver has continued to rise frequently, with a monthly increase of more than 30% in July. The gold-to-silver ratio has fallen from the year's high of 130 to around 80, and there is still room for a decline compared to the historical average.

　　The so-called gold-silver ratio is the ratio of the price of gold to silver. Generally speaking, in the period of economic recovery, due to rising industrial demand, the price of silver has increased even more and the ratio of gold to silver has narrowed.

Data map: Silver jewelry craftsmen inspect the silver jewelry produced. Photo by China News Agency reporter Liu Zhongjun

　　According to the China Securities Journal, a senior precious metal investor said that, judging from the historical trend of silver futures, regardless of the safe-haven market or the positive fundamentals, the price of silver often behaves in a downturn, and it has always been less sensitive to news and rarely appears decent. Because of the rising market, it is often known as "Buddha".

　　"As of the 27th, London's silver spot price was US$24.05 per ounce, and the gold-to-silver ratio is currently about 80.5, which is still far above the historical average of around 60." Liu Dongbo said.

　　Guosen Futures analyzes that in the long run, if the bullion continues to be bullish, the ratio of gold to silver will further decline. However, in the context of the recent cooling of market risk sentiment and no significant improvement in crude oil demand, the commodity attributes of silver may not be able to drive silver to strengthen significantly in the short term.

London silver spot chart.

　　But this has not affected investors from gold to silver. "Gold has risen too much, and silver has lower risks and higher returns." Some investors said that they had opened a "paper gold" trading account in the bank before and focused on gold, but since this year they have mainly dealt with silver transactions. , The current income has reached 20%.

　　Wang Jingqing, assistant to the chief analysis officer of Master Jin, said that the world's largest silver ETF ishares Silver Trust has held positions in Masukura since late March this year, and almost 5,400 tons of silver have been purchased. The changes in silver ETF positions have become the driving force behind the rise in silver prices. As long as silver ETFs continue to increase their holdings of silver, silver prices will generally maintain an upward rhythm.

　　Gold seems to be too high, will you switch to silver? (Finish)