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Last week, gold prices continued to rise overall, rising above $2,400 an ounce for the first time since May.

Since the beginning of this year, funds with gold (stocks) and silver as their main investment targets have continued to perform well. As of July 12, Hua Xia CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock ETF rose by 36.86%, Guotou UBS Silver Futures rose by 31.95%, Yongying CSI Shanghai-Shenzhen-Hong Kong Gold Industry Stock ETF rose by 28.52%, and E Fund Gold ETF, Bosera Gold ETF and others rose by more than 17%.

Wind data shows that as of the close of July 11 local time, COMEX gold futures and London gold spot prices both rose by more than 1% and stood above the $2,400 per ounce mark, hitting a new high in more than a month; the silver price rose more significantly, with COMEX silver futures and London silver spot prices both rising by more than 2%, with prices per ounce reported at $31.725 and $31.448 respectively. On July 12, the above gold and silver futures prices fell back, but were still at high levels.

Regarding the strong performance of the precious metals market, the market generally believes that it is mainly due to the June CPI data released by the US Bureau of Labor Statistics showing that inflation continues to slow down. (Securities Times)