News summary

On May 27, the precious metals sector generally rosefreecryptogames2022, Shanghai gold rose 0freecryptogames2022.46% to 557freecryptogames2022.70 yuan/gram, Shanghai Bank rose 2.31% to 8,139.00 yuan/kilogram. In terms of warehouse receipt data, Shanghai gold remained unchanged, while Shanghai silver increased by 25963 kilograms. The spot price of gold is higher than that of futures, with a basis of 2.33 yuan and a basis ratio of 0.42%.

Newsletter text

[The overall performance of the precious metals sector was strong on May 27] The precious metals futures market ushered in a rise. The main contract price of Shanghai gold rose to 557.70 yuan/gram, recording an increase of 0.46%.freecryptogames2022; The price of the main contract of Shanghai Bank climbed to 8,139.00 yuan/kg, an increase of 2.31%. [List of Shanghai gold and Shanghai silver futures prices] In the day's trading, the opening price of Shanghai gold futures was 554.30 yuan/gram, yesterday's closing price was 554.48 yuan/gram, and yesterday's closing price was 555.14 yuan/gram. The opening price of Shanghai Silver Futures was 8,000.00 yuan/kg, yesterday's closing price was 7,994.00 yuan/kg, and yesterday's closing price was 7,955.00 yuan/kg. [Update on warehouse receipts for precious metals commodities] The cumulative warehouse receipts of Shanghai Gold remained stable, totaling 7719 kilograms, with no increase or decrease compared with the previous trading day. At the same time, the cumulative warehouse receipts of Shanghai Bank increased to 774442 kilograms, an increase of 25963 kilograms month-on-month. [The phenomenon of "futures upside down" appears in gold variety contracts] The basis data as of May 24 Beijing time shows that gold variety contracts have futures upside down, that is, the spot price is higher than the futures price. Specifically, the spot price of gold is 557.47 yuan/gram, while the futures price is 555.14 yuan/gram, the basis is-2.33, and the basis ratio is 0.42%. [Silver basis and basis ratio] For silver, the spot price is 7905 yuan/kg, the futures price is 7955 yuan/kg, the basis is-50, and the basis ratio is-0.63%. [Remarks] The basis is calculated by subtracting the futures price from the spot price. This indicator has important reference value for investors 'trading decisions.