BEIJING (Xinhua) — With the spot worth of oro denominated in US foreign money reached round $2,450 per ouncegold costs denominated in RMB (renminbi, the Chinese language foreign money) additionally soared to new highs in the present day, Monday.
The info of the Shanghai Orchestra present that the worth of gold with a purity of 99.99 p.c or increased rose to a brand new excessive of 578 yuan (about 81 U.S. {dollars}) per gram on Monday afternoon and closed at 573.8 yuan per gram, up 2, 2 p.c greater than the values recorded on the shut of Friday.
He gold jewellery worth has additionally been rising. At Chow Tai Fook, a well known gold retailer in China, the worth of gold jewellery hit an all-time excessive of 743 yuan per gram on Monday, up 19 p.c from the start of the yr.
“Latest US inflation information has fueled expectations that the US Federal Reserve might lower rates of interest this yr, which might enhance gold costs,” stated gold market analyst Liu Richeng. That geopolitical uncertainties have additionally elevated well-liked enthusiasm for protected haven belongings.
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2024-06-18 02:34:49