As the international spot gold price broke through US$3,200 per ounce, hitting a new record high, on April 11, gold futures and spot prices denominated in RMB rose sharply, driving the brand gold store's full gold jewelry quotation to break through the 1,000 yuan mark per gram.
Data shows that on April 11, the spot gold price of Shanghai Gold Exchange broke through 760 yuan per gram during the session, up more than 2.8%; the main contract of gold futures on the Shanghai Futures Exchange hit a maximum of 763 yuan per gram, up more than 3%, both hitting record highs. In the terminal market, the price of Chow Tai Fook and other gold jewelry rose from 918 yuan per gram on April 7 to 990 yuan per gram, with an increase of 7.8% during the week.
Qu Rui, deputy director of the Research and Development Department of Oriental Jincheng, said that due to the impact of US tariff policies, the uncertainty of international trade policies is still very high, the US dollar index plummeted, and the market risk aversion sentiment has risen, which has provided strong support for gold prices.
After the domestic gold price rose by more than 27% in 2024, the increase this year has exceeded 23%.
Shanghai Gold Exchange reminds:
Reasonable control of positions and rational investment
On April 10, the Shanghai Gold Exchange issued the "Notice on Continue to Strengthen the Recent Market Risk Control Work", stating that the recent international situation is complex and changeable, the prices of precious metals fluctuate greatly, and the market risks are intensifying. Please improve your awareness of risk prevention, continue to make detailed risk emergency plans, and maintain stable market operation. At the same time, investors are reminded to do a good job in risk prevention, control positions reasonably, and invest rationally.
