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The price of gold has dived! On July 2nd, there was a crazy price war in major gold stores
Today, I want to bring you a blockbuster news, that is, the price of gold fell off a cliff on July 2nd! Surprised? Don't worry, let me tell you more.
First, let's take a look at the international gold price. According to the latest data, the international gold price was at $2,330 an ounce, down about 2.5% from the previous day. Although this figure may not seem large, it is already a considerable decline for the price of gold. In the words of the Internet, this is an "epic dive"!
So, what is the impact of this dive on domestic gold stores? The answer is, it has a big impact! The price of gold in major gold stores has declined, which can be said to have started a price war.
For example, the gold price of Chow Tai Fook is 715 yuan/gram, that of China Gold is 698 yuan/gram, that of Chow Sang Sang is 714 yuan/gram, that of Luk Fook Jewellery is 715 yuan/gram, and that of Tse Sui Lun is 712 yuan/gram. These prices have dropped compared to before, which makes consumers addicted!
So why did the price of gold fall suddenly? I think there are several main reasons.
First of all, the strength of the dollar is an important factor. The recent rise in the U.S. dollar index has weighed down the dollar-denominated gold price. It's like if you go shopping and find that the renminbi has depreciated and the thing has become more expensive, you will definitely hesitate to buy it.
The Fed's policy expectations are also a factor. Market expectations that the Fed will start easing policy in September, which has led to a weakening of investors' safe-haven demand for gold. To put it simply, everyone thinks that the economy will get better in the future, so there is no need to buy gold to hedge against risk.
In addition, the impact of economic data cannot be ignored. The recent US inflation data was in line with market expectations and did not have a significant impact on gold prices. This shows that the economic situation is not bad, and there is no need to buy gold to preserve its value.
Technical factors also play a role. After the price of gold rose in the early stage, there is a need for a pullback on the technical side. It's like running too fast and needing to stop and rest.
Gold has always been an important investment asset and a safe-haven tool for investors. However, as the market environment changes, so does the price of gold. Therefore, investors must consider various factors when investing in gold, including market environment, economic data, geopolitics and so on.
In addition, China, as one of the world's largest producers and consumers of gold, has a significant impact on the global gold market. China's gold industry is mainly distributed in Shandong, Henan, Jiangxi and other provinces, while the sales and processing of gold jewelry are mainly concentrated in Shenzhen, Guangzhou and other cities.
When it comes to gold investment, we have to mention gold bars. Gold bars are a common gold investment product that has the function of maintaining and increasing value. Investors can invest in gold by buying gold bars and selling them for a profit when needed. Gold bars are typically 99.99% pure and are measured in ounces or grams.
I would like to say that as the head of the Federal Reserve, Jerome Powell's policy decisions have an important impact on the price of gold. His words and deeds will be closely watched by investors and analysts, because it is related to whether the gold in their hands is profitable or lost.
So, after reading this article, do you have a deeper understanding of the diving of gold prices? If you have one, remember to like, comment, and retweet! Xiaobian's hard work needs your support! Bye-bye ~#头条创作挑战赛##头条首发必备指南#