Latest Update in the China Other Precious Metals Market

The dollar clung to modest gains against the euro on Friday after data showed falling U.S. consumer spending and cooling inflation, and as investors awaited a slew of central bank meetings next week.

After the domestic demand-grounded economy stabilises, it is expected that the A-shares will move up significantly.

The dollar rose broadly on Thursday as growth concerns about the U.S. economy drove demand for the safe-haven greenback, while the yen renewed its ascent as investors doubled down on bets that the Bank of Japan would shift away from its yield curve control policy.

James Bullard, chairman of St Louis Fed said in a media interview that he supported to raise interest rates by 50 basis points.

According to the latest statistics from the China Gold Association, the domestic raw material gold production stood at 372.048 mt in 2022, an increase of 43.065 mt compared with the same period in 2021, a year-on-year increase of 13.09%.

The yen dropped against major currencies on Wednesday after the Bank of Japan maintained ultra-low interest rates, although it recovered some ground on expectations for tighter policy in the coming months.

The dollar fell against most major currencies on Tuesday in choppy trading, weighed down by expectations of a possible policy shift at the Bank of Japan (BOJ) that could end its so-called “yield curve control” and be a precursor to adopting a tighter monetary stance.

This week, the transactions were even scarce as downstream enterprises already stocked up raw materials while some producers focused on production on upcoming CNY holiday.