The weaker dollar provides support for the continuation of gold and silver gains.

Publicado: Jan 6, 2021 08:59
Fuente: Beit futures

[outer disk, news] overnight, COMEX gold closed at 19555, up 0.37%, Japan Xiaoyang, technically maintained the effectiveness of breakthroughs in high points on August 7 and November 9, 2020, short-term daily averages and MACD uplink opening, phase rally maintained, support 1930, pressure 1970; COMEX silver closed at 27.715, up 1.15%, daily average closed at Xiaoyang, daily average line arrangement, MACD upstream opening, strong phase maintenance, support 27.2, pressure 28.6.

News: commercial retail sales of Redbooks in the United States grew at an annual rate of 5.5% in the week ended January 2, up from 8.9% in the previous week. The US ISM manufacturing PMI for December was 60.7, expected to be 56.7, with a previous value of 57.5. The World Bank forecasts that the global economy will grow by 4% in 2021, with China reaching 7.9%. The people's Bank of China raised the central parity rate of the renminbi by the biggest change since 2005.

[fund positions] the latest position in gold ETF was 1186.78 tons, down 0.01% from the previous day, while the latest position in silver ETF was 17507.25 tons, an increase of 0.74% over the previous day.

[futures trend] on the domestic side last night, Shanghai gold and silver opened slightly higher and fluctuated within a narrow range of intraday trading. The center of gravity of the Shanghai-gold daily line moved upward, the medium-and short-term daily average and the MACD upside opening, the recovery momentum was maintained; the Shanghai silver price stayed above the daily average line, the daily average line was arranged long, and the high point in December last year has not yet passed, and the upside space needs to be further opened. Fundamentally, the mutation of novel coronavirus caused overseas novel coronavirus confirmed cases continued to grow, the United Kingdom and Japan implemented stricter control measures, pushed up the market risk aversion sentiment, and the fund's willingness to hold positions increased. Optimistic expectations that Biden will take office as scheduled to increase easing, coupled with China's increase in the midpoint of the yuan and the continued decline of the dollar, continue to support gold and silver. The result of the Senate run-off election of the state of Georgia in the United States has not yet been announced. In addition, pay attention to the containment effect of the appreciation of the RMB exchange rate on the inner market. The AU2102 supports 400, the pressure is 408, the AG 2102 supports 5580, the pressure is 5800.

[operating strategy] Shanghai gold stage adjustment, short-term rebound, AU2102 reference 400 first-line support, more trading every adjustment; Shanghai Bank medium-term strong form is effective, short-term shock uplink, AG2102 mostly with 5580 as profit and loss protection to continue to hold.

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The weaker dollar provides support for the continuation of gold and silver gains. - Shanghai Metals Market (SMM)