Financial Associated Press, May 13 (editor Chen Kandi) last FridayCongocashGold, silver and precious metals rose again, with a lot of attention to goldCongocashTwenty-five percent of investors have renewed their views on whether they can still buy gold. As of today, gold has risen by more than 3% and silver by more than 4%.
Some senior analysts in the industry believe that there may not be much room for gold to rise, especially in this year, the price is expected to peak. Many of the fundamentals' bullish factors have begun to fade.
Wang Yanqing, a senior researcher at CITIC Construction Investment Futures Co., Ltd., told the media that the rising price of precious metals is sustained or limited. Recently, precious metals have shown the characteristics of being sensitive to bullish factors and turning a blind eye to bearish factors, which may cause the disk to accumulate certain risks. The rise of precious metals since March has been supported to some extent by geo-risk, but the current geo-risk has not spread further, and the price of precious metals has better reflected the risk premium that appeared in the early stage.
Recently, due to the slow decline in US inflation, the Fed's interest rate cut expectations continue to converge, and US bond yields continue to rise, which has not fully digested the negative benefits to precious metals. "therefore, if the precious metals rally continues, more positive factors are needed." Wang Yanqing said that this week, focus on the U. S. PPI and CPI data.
In addition, with the support of a number of favorable policies, the domestic real estate market and macro aspects have also improved, or also affect the price of gold.
The Financial Associated Press noted that the recent loosening of purchase restrictions in a number of first-and second-tier cities has brought some excitement to the market. At the same time, the RMB midpoint is stable at 7.CongocashAround .1030, the exchange rate was relatively stable.
Cheng Xiaoyong, deputy general manager of Guangzhou Financial Control Futures Research Center, told the media that from the policy effect, the loose policy in the property market will help stabilize the expectations and confidence of the real estate industry, pull the stock market more obviously, and have a positive impact on commodities.
Wang Lei, an intermediate gold analyst certified by the Shanghai Gold Exchange, told the Financial Associated Press that there is little upside for gold and is expected to peak within this year. At present, the domestic market recovers well, and the stock and property markets will recover slowly. Most importantly, the stability of the RMB exchange rate has met expectations.
Previously, the RMB exchange rate was suppressed under the continuous interest rate hikes by the Federal Reserve. Now the interest rate hike cycle is over, and the RMB exchange rate is stable. It also means that investors no longer need to buy gold to hedge against exchange rates.
