The international gold price has once again been riding a roller coaster these last few days, going from low to high to low again at a fairly break-neck pace. Gold prices have returned to levels not seen for five years or so. Currently, gold is valued at 1163.27 USD/oz, having recovered a little from the 1142.30 USD/oz seen at the end of last week.
The weakening gold market has had a negative effect on the newly released 2015 Panda series. Prices for the gold sets are sliding to around 14700 yuan, and potential buyers are ever prudent with every passing day. The BU small scale gold Pandas, in descending order of size, are attracting prices in the region of 7580, 3820, 2140, 920, and 505 yuan, but the number of deals completed are somewhat sparse.
Recently supply of the 2014 1 oz silver Pandas has clearly dropped, as market sellers reported prices on the 11th November rebounding back up to the vicinity of 175-178 yuan, and the gold sets are now seeing a small handful of deals at prices around 15350 yuan.
Following the release of the 20th Anniversary of the Founding of the Agricultural Development Bank of China silver Panda in September, related coins such as the Shanghai Development Bank 20th Anniversary Panda, amongst others, have seen rising demand.
As for the 2015 Year of the Sheep, prices appear to be gradually sliding down as supply continues to increase. The gold and silver coloured coins have weakened with prices slipping to 3400-3500 yuan. Nonetheless, these favourable prices mean that the standard specification coins of the series are currently still occupying the lead position in the Lunar coins market. Sales of the coloured silver and silver coins are lively, attracting prices of 850-890 yuan and 760-790 yuan, respectively.