Li Mingzhu
Recently, the international spot gold has dropped sharply, and the price of domestic gold jewelry has also dropped, dropping by more than 10 yuan per gram.
In this context, consumers took the opportunity to step up stockpiling, and Shuibei, the gold wholesale center in Shenzhen, set off an upsurge of "big mom grabbing gold".
Securities Times reporters saw on the negative first floor of Shuibei Jinzhan Plaza that there were crowds of people in front of the shops selling gold, and the booths in the hypermarket were also crowded with inquiries and shoppers.
Water shells set off a wave of gold buying
"Taking advantage of the cheap gold price, I quickly came to buy some. I bought a pair of gold bracelets for my grandson as a birthday present. It cost 4,000 yuan for 10 grams plus the manual fee. I bought an ancient craft bracelet for myself, 12 grams plus 25 The total cost of the piece of workmanship is less than 4900, which is really worth it." A middle-aged aunt who just paid the money happily told the reporter, "And you can also change the style when you buy it here. I have already told my friends to come quickly and give It's time for the married daughter to prepare her dowry."
The sales staff of Hong Kong Jubilee Gold told reporters, "Since the price of gold fell below 380/gram this week, too many customers have come to buy it. We work overtime every day to stock up, and we were still stocking up at 1:00 a.m. yesterday. Today's price is 378 /gram, the difference from last year’s lowest price is only ten yuan, and the customers who are planning to buy gold are basically concentrated in these few days.”
She told reporters that in addition to buying wedding bracelets, gold pigs and other large jewelry, there are also many gold bars and gold jewelry. Many people are making reserves. At the beginning of the year, due to the sudden change in the situation in Russia and Ukraine, gold rose sharply. The "aunt" of gold sold and made money, so when the price of gold is low, there is a mentality to want to stock up.
Not only retail is hot, but wholesalers are also taking the opportunity to stock up.
A jewelry company responsible for purchasing personnel and reporters said that taking advantage of the low price of gold, they bought 200g of gold for backup, which cost a total of more than 70,000 yuan, which can save nearly 10,000 yuan compared to buying at the beginning of the year.
Huang Jinghong, founder of olove jewelry, told reporters that she mainly sells diamonds, colorful treasures, jadeite, pearls and other inlaid jewelry, and more than 90% of inlaid products are 18K gold, and the price of 18K gold is determined by gold. The price is determined. Since the beginning of this year, the price of gold has been relatively high, so I just took this opportunity to make some reserves.
What is the future trend of gold?
From the perspective of overseas markets, as of 16:00 on July 8, spot gold in London was quoted at US$1,736 per ounce, with a cumulative decline of over 3.5% in July.
This week, spot gold in London once fell to $1,731.6 an ounce, hitting a nearly nine-month low.
Since hitting a stage high of $2,070.42 per ounce in March this year, London gold has continued to fall, with a maximum retracement of over 16%.
In the domestic market, taking gold futures quotations as an example, market data shows that on July 8, the main domestic gold futures contract was reported at 377.04 yuan / gram, down 0.31%, and the contract recently hit a new low in the past five months.
Why the international gold fell sharply, some analysts pointed out that the main reason is the recent tightening of monetary policy by the Federal Reserve, and the strong expectation of interest rate hikes has promoted the appreciation of the US dollar, which is favored by investors.
Recently, the U.S. dollar index rose to a 20-year high and exceeded 107, weighing heavily on international gold.
In terms of physical gold demand, India, a major gold importer, raised its gold import tariff from 7.5% to 12.5%, which is also not conducive to physical buying of gold.
Industry insiders said frankly that the current geopolitics is complicated, and the current trend of gold is still facing uncertainty. The Fed would rather face the risk of economic recession and control inflation.
Song Jiangzhen, investment director of Yuebao Gold, pointed out that the main tone of gold prices is still falling, but the market generally believes that the current possibility of a recession in the United States is gradually increasing, the Federal Reserve may soon re-enter the monetary easing channel in the future, and inflation will be pushed up again. .
Based on factors such as the cost advantage of holding positions and the risk of price fluctuations, some investors will choose to buy gold when the current price falls, resulting in a technical structural rise.