Spot silver prices fell 3.24% on the day

According to the data of business news agency, the average price of silver market in the morning on July 19 was 5270 yuan / kg, which was 5336.67 yuan / kg higher than that in the spot market on July 16; 24%; Compared with the early average price of 5304.33 yuan / kg in the spot market in early July (July 1), the decrease was 0.65%; Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 5.05%.

On July 19, the spot price of gold was 378.01 yuan / g, down 0.64% compared with the spot price on July 16; The average price of the spot market in early July (7.1) was 366.77 yuan / g, up 3.06%; The spot price of gold was 392.70 yuan / g at the beginning of the year (01.01), down 5.05%.

Precious metals have a downward trend

Since late May, the overall trend of precious metal prices has been declining. On the one hand, based on the slowdown of investment demand for precious metals, according to relevant data, the global gold ETF position changed little in June, with a total size of 3624 tons, 285 tons less than the high 3909 tons in October last year. The sharp drop in investment demand is mainly due to changes in the macroeconomic environment, especially the rising trend of global interest rates in the first quarter, and the corresponding game factor – rising inflation expectations and concerns in the market. On the whole, it is difficult to reappear the situation that the price and volume rose together promoted by the early monetary easing policy, and the market gradually entered a rational range. This also means that the influence factor coefficient will start to change, and the influence of physical demand on price will gradually rise. On the other hand, in the process of gradual economic recovery, the demand for silver is expected to support the price of silver, especially the increase of demand for solar panels and electrical applications. Based on the previous surge, silver prices gradually squeeze out investment water, later resilience will be relatively strong.