SMM News: [outer disk, news] overnight, OMEX gold closed at 1800.8, up 0.39%, daily average line closed at Xiaoyang, daily moving average and MACD uplink but converged, technically, it still showed high shock, support 1770, pressure 1810 × Comex silver closing closed 18.635, up 1.58%, daily line Xiaoyang rebounded, 20-day moving average support was effective, short-term concussion was stable, support 18.0, pressure 19.0.
News: the final PMI of the Markit services sector in the United States in June is 47.9, which is expected to be 47. In the United States, the non-manufacturing PMI of ISM in June was 57.1, expected to be 50, with a previous value of 45.4. Retail sales in the eurozone rose 17.8 per cent in May and are expected to rise 15 per cent after falling 11.7 per cent in April. The euro zone Sentix investor confidence index was-18.2 in July, expected to be-10.4 in July and-24.8 in June.
[fund position] Gold ETF held 1191.47 tons, unchanged from the previous day, while Silver ETF held 15,614.21, unchanged from the previous day.
[futures trend] on the domestic side, Shanghai gold fluctuated in a narrow range after opening high last night, and the daily line showed a high concussion with a small horizontal trend. Technically, the effectiveness of the May high breakthrough was not confirmed, and the performance near the former high was further observed. Shanghai Bank also fell into narrow horizontal trading after opening high last night, and the 20-and 30-day moving average was maintained, and the futures price has not yet broken the recent small horizontal range. Fundamentally, the second round of the outbreak of the new crown epidemic overseas is grim, the confirmed cases continue to hit new highs, and the two major supporting themes of risk aversion and relaxation under the epidemic are maintained. The PMI of the US service industry was better than expected, but the number of new crown outbreaks depressed the dollar, forming short-term support for gold and silver, and gold and silver shocks remained stable. In operation, we still need to pay attention to the negative impact on gold and silver caused by the strong stock index at home and abroad. Relatively speaking, the attribute of silver commodity is slightly heavier, and the negative impact is expected to be smaller than that of gold. AU2012 support 397, pressure 404 × AG2012 support 4310, pressure 4450.
[operating strategy] the medium-term rally of Shanghai Gold continued, short-term shock adjustment, AU2012 wait-and-see or short-term trading; Shanghai Bank stabilized in the medium term, short-term shock stable, AG2012 light continued 4310 temporarily held for profit and loss protection.
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