The last few days have seen minor oscillations and a constant to-ing and fro-ing in the international gold price, with prices rarely straying out of the 1190 – 1200 USD/oz interval. At mid-afternoon New York time on the 17th, gold commodities suddenly dipped below 1190 USD/oz, rebounding back strongly overnight to soar up to 1210 USD/oz by early morning on the 18th. However, over the last day prices have returned much more in line with recent trends, dithering just under 1200 USD/oz. Recently the MACD indicator has approached the centre line, giving some upward pressure to the gold price, but a slightly weakening dollar has somewhat negated this effect.
The official release of the large box sets of the early strike 2015 gold Pandas is imminent, and a few advanced deals have been made in the region of 18,000 yuan. Market supply is a little low though – according to official reports the 2015 gold early strike sets are limited to a mintage of 20,000, which also includes the small box sets with a mintage of 10,000. With the People’s Bank holding the exclusive selling rights to half of these – that is, 5,000 sets – licensed dealers have been rationed to just 25 sets each, and sellers are extremely keen to subscribe to get their hands on them. Early strike versions on the 1 oz silver Panda are also doing extremely well in the market, seeing values of around 480 yuan. As far as the standard gold sets go, today’s market values are at approximately 15,000 yuan.