Multi brand gold jewelry approaching 1400 yuan/gram! International gold prices skyrocket

1、 Latest gold price: skyrocketing in a single day, approaching the thousand yuan mark

According to the latest market quotation, the prices of the three major brands of pure gold jewelry are as follows (compared to the previous day): Old Temple Gold 1397 yuan/gram, up 32 yuan/gram (1365 yuan/gram the previous day); Lao Fengxiang's price is 1396 yuan/gram, up 28 yuan/gram (1368 yuan/gram the day before); Chow Sang Sang is 1391 yuan/gram, up 27 yuan/gram (1364 yuan/gram the previous day).

2、 International Gold Price Surges: Triggering Domestic Chain Reaction

The sharp rise in domestic gold jewelry prices this time was directly triggered by a significant rebound in international gold prices. On March 27th Eastern Time, spot gold prices rose rapidly late at night, breaking through $4555 per ounce and closing at $4493.36 per ounce, with a daily increase of 2.5%. The severe fluctuations in international gold prices quickly spread to the domestic retail market, and major gold stores simultaneously raised their listing prices.

3、 Behind the skyrocketing gold price: resonance of four core factors

Geopolitical risks are heating up, and safe haven funds are pouring in: the situation in the Middle East is once again tense, and market safe haven sentiment is rapidly rising. Large scale capital flows back into the gold market, triggering short covering and institutional bottom buying, directly driving the violent rise of gold prices.

The Federal Reserve's policy expectations have shifted, and the US dollar has weakened: the Federal Reserve injects liquidity into the market, which is interpreted as a signal of easing. The US dollar index has plummeted, and the attractiveness of gold denominated in US dollars has greatly increased. At the same time, the market's expectation of the Federal Reserve cutting interest rates has increased, and the expectation of a real interest rate decline further benefits gold.

Global central banks continue to purchase gold, consolidating the bottom of prices: Global central banks have net gold purchases for 19 consecutive months, and the People's Bank of China has increased its gold reserves for 18 consecutive months. The long-term and large-scale buying by the central bank has provided solid support for the gold price, becoming the "ballast stone" for this round of rise.

On the technical side, oversold rebounded and funds entered the market by buying at the bottom: In the early stage, the gold price experienced a temporary sharp decline, and on the technical side, it showed an oversold trend, attracting a large number of buying at the bottom funds to enter the market and driving the price to quickly recover and rebound.