baccaratchina| How does the gold industry chain "sentient beings" catch "splashing heaven and wealth"?

Gold prices hit new highs, stirring up the heartstrings of everyone in the "golden circle".

On March 21, the price of gold officially hit an all-time high of 2223 US dollars per ounce, and began this round of "soaring" journey. Since then, gold prices have broken through the round mark one after another, and rose to an all-time high of $2365 an ounce on April 9. However, after continuing to rise, gold prices have fallen to some extent in the past two days, and as of April 11, when reporters published a press release, gold prices have fallen back to around $2330 per ounce.

Under the "runaway" gold price, what is the mentality of all kinds of participants in the gold "circle" and what are they busy with?Baccaratchina?

The groups that are most sensitive to gold prices are gold production, procurement and consumption enterprises, especially gold jewellers who are "big users".

Through various interviews, thepaper.cn learned that with the continuous rise in gold prices, gold spot producers and consumers and procurement enterprises are currently in a state of "ice and fire", but interviewees all said that corresponding measures have been taken to maintain the stability of enterprise profits.

"at present, gold financial instruments are relatively abundant, and although there are raw materials in stock in the daily operation of the company, in order to reduce the pressure of cash flow and reduce the cost of capital occupation, all kinds of tools have been put into practice, which will reduce the impact of gold price fluctuations." A gold jeweller in Shuibei, Shenzhen told thepaper.cn.

Thepaper.cn learned that at present, companies that produce gold and own spot goods mainly consider the risk of falling profits if gold prices fall next. Therefore, the way of shorting gold futures or options will be used to hedge the downside risk in order to maintain a stable profit level.

"of course, when the upward trend is relatively certain,BaccaratchinaWe will also appropriately reduce the preservation ratio, so as to improve the profit level. " People in the industry told thepaper.cn.

As for gold purchasing and consumer enterprises, it is understood that the main concern at present is that in the rising price of gold, there is a risk that the cost of raw materials will further rise, thus eroding corporate profits. Therefore, the above-mentioned companies will also use derivatives tools to hedge risks, and the more common way is to buy gold futures or options to hedge against the risk of a sharp rise in gold prices.

"at the same time, we will also use the futures market to buy and hedge to build virtual inventory and reduce production and warehousing costs. In addition, in the market environment with obvious upward trend, we can buy hedging in full and keep the processing profit at a reasonable level as far as possible. " Another person in the industry said.

The above-mentioned Shuibei gold jeweller further said: "before the purchase of gold raw materials, this part of the inventory is sure to bring profits." Although the rise in the price of gold will increase costs, the rise in the price of gold will also drive the export price and drive the gross profit at the same time. "

As gold prices rise, gold analysts have said that "too busy" and "no time for dinner".

With the rise in the price of gold, both industrial and institutional customers have recently been asking for a roadshow. In the past two days, from 09:30 in the morning to dinner after work, I am almost fully booked by the roadshow. " A gold analyst at a brokerage in Shanghai said while taking out his mobile phone to show thepaper.cn his roadshow schedule.

However, compared with analysts, various types of gold self-media bloggers are working overtime one after another.

"with the recent rise in the price of gold, the reading volume of my official account has increased a lot, and there are many readers in the background who are consulting about gold investment. Take advantage of this period of time to be more busy and add more 'pink'. " A gold self-media blogger said to the reporter with emotion: "the price of gold has indeed risen a lot in recent years. When I joined the industry, the price of gold was less than 1,000 US dollars, but now it is more than 2,000."

With the rising price of gold, the upsurge of domestic gold investment has also been set off. Whether spot or futures, the gold prices of related products are constantly rising, which has also attracted the attention of the exchange.

For example, on April 10, the Shanghai Futures Exchange issued a notice on the implementation of trading limits for gold futures varieties, and the maximum number of open positions traded by non-futures company members and clients in the days of gold contracts was limited to 2800 lots.

On April 8, as gold prices rose and silver also "heard the wind and danced", the Shanghai Gold Exchange issued a notice on the same day to adjust the margin ratio of silver extended contracts and the rise and fall limit, and reminded investors to do a good job in risk prevention, reasonable control of positions and rational investment.