The international gold price hit a high of US$2,070.42 per ounce in March this year, and then fell all the way. As of July 15, the gold futures price on the New York Mercantile Exchange closed at US$1,703.6 per ounce. 10-month low.
Lower gold prices also stimulated domestic gold consumption.
International gold prices hit a new low in nearly October
Stimulate domestic gold consumption
On the morning of the working day, the reporter saw in a gold mall in Beijing that there was an endless stream of customers who came to buy gold jewelry.
The person in charge of the shopping mall told reporters that since June this year, with the decline of gold prices, the price of gold jewelry in their shopping malls has been reduced 7 times in total.
Among them, the price of pure gold 999 dropped from the highest price of 518 yuan on June 11 to 485 yuan on July 14.
The person in charge of a number of gold sales stores in Beijing told reporters that in the past, July and August were often the off-season for gold sales, but this year the international gold price dropped, and some consumers believed that the price was reasonable, which also promoted the recent growth of gold jewelry sales.
The data shows that the demand for physical gold continues to increase. In June, the total outbound volume of the Shanghai Gold Exchange was 140 tons, an increase of 37 tons over May and an increase of 7 tons over the same period last year.
Investors cover their positions
Investment bullion sales grow
In addition to the increase in sales of gold jewelry, gold investment has also ushered in a small upsurge recently. Some investors choose to cover their positions on dips, and the sales of investment gold bars have also increased a lot.
Mr. Pei from Beijing has invested in gold for many years. He told reporters that in March this year, he sold all the gold he had.
Recently, the price of gold has dropped.
The reporter's investigation found that in several major gold shopping malls in Beijing, the sales of investment gold also increased significantly.
Although some investors hope that the price of gold will be further lowered before making a move, everyone's investment enthusiasm has heated up.
Li Fang, sales director of the gold bar group of China Gold flagship store in Beijing: The number of customers looking at gold bars has increased by 200% compared with the previous one, and the sales volume has increased by 20%.
According to industry analysis, the Fed's monetary policy has been tightened this year, and the international gold price has been fluctuating downward recently.
In particular, the US CPI in June hit a new high in nearly 41 years, which continued to put pressure on the international gold price.
Li Yang, deputy manager of the raw material trading department of Beijing Caibai Company: The increase in demand for physical gold, combined with some factors of global consumer demand, the price of gold may have a good performance at the end of the year.