Caixin reporter noted that last week, Shanghai gold plate once exceeded 480 yuan / gram, a new high in 15 years; on the contrary, the international price of gold during the same period but continue to maintain the shock. 18 September, Societe Generale Securities disclosed in the morning minutes of the meeting, the current gold within and outside the price difference has risen to a historical high point. According to its statistics, gold within and outside the highest spread expanded to 28 yuan / gram.
Why the domestic and foreign gold prices "upside down"? Zhou Maohua, a macro researcher at Everbright Bank's Financial Markets Department, said in an interview with Caixin News Agency that gold has both financial and commodity attributes, and is affected by seasonal factors such as major holidays and weddings, as well as the central bank's continued purchase of gold in recent years, which has led to the recent tightening of supply and demand in the domestic gold market. In addition, the Caixin reporter noted that many institutions will point the finger at the RMB depreciation expectations. Southwest futures pointed out that RMB depreciation expectations are the main factor in the emergence of the domestic and foreign price difference between gold. When the RMB depreciation is expected to be stronger, the premium rate of domestic gold is usually higher. According to Southwest Futures calculations, as of last Friday, the highest point of the gold spot implied exchange rate is about 7.76, much higher than the actual exchange rate quoted 7.1786. It is worth paying attention to, for the future trend of the price of gold, a number of institutions believe that the price of gold is expected to be in the range of the maintenance of the oscillation, the gold domestic and foreign spreads may fall back, but the space of the fall back is limited.
[Reprinted to retain the source - Shanghai non-ferrous network].
