According to the data of business news agency, the average price of silver market in the morning on June 30 was 5304.33 yuan / kg, which was 5336.67 yuan / kg higher than that in the spot market yesterday; 61%; Compared with the spot market price in early June (June 1), the average price in early morning was 5739.67 yuan / kg, a decrease of 7.58%; Compared with the beginning of the year (01.01), the spot price of silver was 5550 yuan / kg, a decrease of 4.43%.

The spot price of gold on June 30 was 366.77 yuan / g, down 0.79% yesterday; Compared with the average price of spot market in early June (6.1), it was 393 yuan / g, a decrease of 6.67%; Compared with the spot price of gold at the beginning of the year (01.01), it was 392.70 yuan / g, down 6.60%.

In June, due to the rising yields of US dollar and US Treasury bonds, precious metals were suppressed to a certain extent. The dynamic price of precious metals in the month was weak.

The recovery of precious metals tends to fluctuate

The recent weakness of precious metal silver prices is mainly due to the strong performance of US data, the hawkish remarks made by Federal Reserve officials, the strong US dollar and the market expectation of rising interest rates.

At its June meeting, the FOMC maintained the policy interest rate unchanged and did not change its asset purchase plan. However, the Committee raised its inflation expectations for this year and next, suggesting that the interest rate increase may be faster than expected. The dot matrix shows that more and more Fed officials are turning to “hawks”: of the 18 officials involved in the forecast, seven are expected to start raising interest rates in 2022, compared with four in March this year; Thirteen officials are expected to start raising interest rates in 2023, up from seven members in March this year. The expectation of an early interest rate increase also depressed the price of precious metals to a certain extent.

Although the investment demand is poor, in the medium and long term, in terms of physical consumption, the industrial demand of silver and platinum, driven by economic recovery, especially the concept of green and renewable energy, has a strong growth expectation.

Weak within the day: focus on us small non farm data in the near future

On June 30, 2021, the benchmark price of Shanghai silver (silver ingot with standard weight of 15kg and fineness not less than 99.99%, pricing contract) in the midday trading of Shanghai gold exchange was 5296 yuan / kg, which was 17 yuan / kg lower than the benchmark price of 5313 yuan / kg in the morning trading of June 30; Compared with the benchmark price of 5349 yuan / kg in midday trading on the 29th, the price was reduced by 53 yuan / kg.

On Wednesday, the ADP employment data of the United States, known as “small non-agricultural”, will be released soon, which is worthy of attention in the near future.