Home / Metal News / Precious Metals / [SMM News] Precious Metals sector led many stocks up more than 5% at the start of trading.
[SMM News] Precious Metals sector led many stocks up more than 5% at the start of trading.
Jul 27,2020 10:09CST
translation
Source:SMM
Due to the obvious downward trend of the US dollar and the attack of a new round of overseas economic stimulus measures, the value of physical assets of precious metals has returned, the outer disk gold price has previously reached an all-time high, and the main contract of CMX gold is close to 1950 US dollars / ounce. The precious metal plate of the stock market opened higher in the morning. As of 10: 00, Huayu Mining, Yuguang Gold and lead both rose by the daily limit, Chifeng Gold rose more than 9%, and Shandong Gold, China Gold and Lao Fengxiang rose more than 5%.
The content below was translated by Tencent automatically for reference.

SMM7 March 27: due to the obvious downward trend of the US dollar, coupled with the attack of a new round of overseas economic stimulus measures, the value of physical assets of precious metals has returned, the outer disk gold price has previously reached an all-time high, and the main contract of CMX gold is close to 1950 US dollars / ounce. The precious metal plate of the stock market opened higher in the morning. As of 10: 00, Huayu Mining, Yuguang Gold and lead both rose by the daily limit, Chifeng Gold rose more than 9%, and Shandong Gold, China Gold and Lao Fengxiang rose more than 5%.

The price of gold has soared again, on the one hand, it has been boosted by concerns about safe-haven demand. On the other hand, the United States and Europe and other central banks put in a large amount of liquidity, resulting in negative real interest rates in the United States. The dollar index fell to its lowest level in more than six months. Gold prices have also been supported by factors such as a weaker dollar and rising inflation expectations.

For the late gold price, most institutions maintain bullish expectations, and some institutions believe that the spot gold price may break through the $2000 mark in the future. "[market changes] Precious Metals have repeatedly pushed up the outer disk gold price to reach an all-time high.

Scan the QR code and join the SMM metal communication group.

Precious metals
stock market

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn