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[7.6 Zhishui Precious Metals Morning Review] the epidemic curve in the United States rises again, and precious metals may continue to rise today.
Jul 6,2020 07:05CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 June 6: I. Macroeconomic policy changes:

1. Beijing, July 2, 2030, the United States added 4.8 million non-farm payrolls in June, much higher than the expected 3.058 million, with the previous value revised to 2.699 million from 2.509 million. The unemployment rate fell further to 11.10 percent, below expectations of 12.50 percent and 13.30 percent.

2. Admiral Brett, assistant secretary for health affairs at the (Department of health and Human Services) of the U.S. Department of Health and Human Services, said the United States is not flattening the curve. The curve is still rising. "flatten the curve" means to reduce the infection rate of new crown pneumonia, which is a slogan in the early days of the outbreak. Giroir pointed out that the curve was successfully flattened at one point, but the number of cases in the United States increased again, led by southern and western states. Arizona, California, Florida and Texas account for 50% of new cases in the United States every day. Dozens of other states have also reported not only an increase in overall cases, but also an increase in the percentage of positive test results, an indicator of the growing epidemic.

Two. Market performance:

Gold fluctuated within a narrow range in the previous session, with a high of $1777 / oz and a low of $1772 / oz to close at $1774 / oz.

TD gold rose slightly in the previous session, closing at 397.55 yuan / kg, up 36 yuan.

Last trading day, TD silver rose slightly, closing at 4323 yuan / kg, up 10 yuan.

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:

On the previous trading day, the London gold daily line closed with a small cross star due to the US market closed, the highest price was lower than the previous day's high price, the closing price closed above MA5, MA5 upward, MA60 continued to extend upward, the RSI index was located in the normal range, has successfully broken through the previous consolidation range and opened upward, and may continue to rise after short-term technical adjustment.

The first support level is $1760 / oz below, the second support level is $1746 / oz, the first pressure level is $1789 / oz above, and the second pressure level is $1800 / oz above.

5. Focus on Today

No important data or events.

Six. direction suggestion:

Gold

For gold medium-and long-term trading in the early multi-order to continue to hold;

For Loco-London gold several days of trading in the early multi-order to continue to hold, open positions of 1766 light positions every bargain. ;

For TD in the early days of trading more than one order to continue to hold, no positions 397.5 light positions into more than every bargain;

For intraday trading, Loco-London gold 1766 bargain, 1756 stop loss, 1780 stop profit;

For intraday trading, TD gold gains more than 397.5 bargain, 396.5 stop loss, 399 stop profit;

Silver

For silver medium-and long-term transactions more than one order to continue to hold;

For a few days of trading silver TD early light positions more than single to continue to hold, no positions 4325 light positions for bargain;

For intraday trading silver TD4325 bargain, 4260 stop loss, 4370 stop profit;

For spot trade transactions may rise slightly today, if not timely operation, as far as possible in the futures hedging operation.

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