International gold price rises to a new high in more than three months
Recently, gold prices continue to rise. As of 18:00 on May 18, Beijing time, London spot gold was at US $1868.5/oz, hitting a record high of US $1873.8/oz in the session, reaching a new high in more than three months, up nearly 6% in May. Domestic Shanghai Gold main contract also rose to a new high in more than three months. Benefiting from the sharp rise of gold price, A-share gold and jewelry sector rose sharply on May 18, while mankalon and Lai Seng Tongling rose by the limit. Strong inflation expectations are still the main driving force behind the rise in gold prices. On the news, Fed officials once again made a voice to calm the market’s concerns about tightening monetary policy. Richard Clarida, vice chairman of the Federal Reserve, said in a speech Monday local time that the Federal Reserve will continue to implement asset purchases. Atlanta Federal Reserve Bank President Bostic also said on the same day that it is not time to change the American League