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The market is optimistic about the stimulus policy after Biden took office. Precious metals rebounded in the short term.

iconJan 20, 2021 10:20
Source:Zhishui precious metal

I. changes in macroeconomic policies:

1. Us President-elect Joe Biden announced a $1.9 trillion economic stimulus package last Thursday (Friday morning in Beijing). In his prime-time speech, US President-elect Joe Biden said it was necessary to make bold investments to help kick-start the economy and accelerate the US response to the novel coronavirus epidemic.

two。 In a speech prepared for the Senate confirmation hearing on January 19, Treasury Secretary nominee Yellen highlighted inequalities in the US economy and said it was time to take "significant action" to promote recovery in an environment of low interest rates. Before the outbreak of the COVID-19 epidemic, the US economy showed a "K-shaped" trend.

two。 Market performance:

Gold rose slightly in the previous session, with a high of $1845 / oz and a low of $1833 / oz to close at $1840 / oz.

three。 Position analysis:

Gold and silver CFTC non-commercial net long positions are in the middle and high level, and the risk of long positions is gradually accumulating.

Fourth, technical analysis:

Last trading day, London gold closed with a small positive line, closing price near MA5, MA5 down, MA60 down, RSI index in the normal range, it is possible to continue to decline in the short term.

The first support level is $1800 / oz below, the second support level is $1765 / oz, the first pressure level is $1864 / oz above, and the second pressure level is $1900 / oz above.

5. Focus on Today

The 46th president of the United States was inaugurated at 00:30 in the morning.

Six. direction suggestion:

For detailed operation suggestions, please scan the code to follow WeChat Work official account.

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