The fall in the price of crude oil over these last few days has given buoyancy to the international gold price, keeping it relatively stable with small adjustments above the 1200 USD/oz mark. However, an optimistic economic outlook by the US Fed has given rise to an increased confidence in an already strong dollar, putting downward pressure on the gold price. The commodities market for gold closed yesterday at 1207.50 USD/oz, with a peak of 1213.50 USD/oz, and a low of 1201.10 USD/oz.
With the First Macau International Coin Expo getting underway, many players in the Mainland markets have travelled to take part in the auctions occurring in Macau, leaving a somewhat damp atmosphere behind them. Despite this, attention in the Mainland markets still seems to be focussed around the 2015 Year of the Ram Lunar coins and the 2015 Pandas, with most of the interest surrounding the coloured gold and silver Lunar pieces. Even though the coloured gold and silver sets have seen a slight fall in price this week to around 3850-3900 yuan, the market for these coins is still exceptional. There have also been a significant number of deals for the coloured silver Ram on its own in the region of 970-1000 yuan. Yesterday also saw the sale of close to a thousand sets of the standard gold and silver Rams for prices in the vicinity of 3350 yuan.
The market for the 2015 Pandas is hotting up, as authorised dealers continue to receive their stocks. However, supply is still restricted, with the greatest shortage being for the ¼ oz gold Panda, trading at around 2050 yuan. The 1/10 oz and 1/20 oz gold Pandas have values of 900 yuan and 490 yuan respectively. A staggering number of deals have been reached for these two coin specifications at these prices, with more than several hundred being sold at a time on one occasion. The going rate for the 2015 gold Panda sets is currently about 14900 yuan, and the early strike sets have attracted a small number of deals with values of 18300-18800 yuan. The Panda market is hot, but prices remain fairly steady across the board.