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The mood of risk aversion promotes the breakthrough of gold and silver uplink reproduction technology.
Jul 9,2020 11:27CST
translation
Source:Beit futures
The content below was translated by Tencent automatically for reference.

SMM Network News: [outer disk, news] overnight, both international gold and silver uplink. OMEX gold closed at 1826.9, up 0.66%. Xiaoyang continued to reach a new high on the daily line, and the daily moving average and MACD opened again. The futures price closed above 1800 for three consecutive days, and the effectiveness of breaking the high point of the 2012 range increased. The next target is expected to see a high of 1923 in 2011, support 1800, pressure 1923; COMEX Bank closed at 19.170, up 2.73%, and the daily line closed at Dayang, standing above the important technical barrier of US $19, the daily average line and the MACD uplink opening, which was technically strong and the upside space was expanded again, with 18.7 support and 19.8 pressure.

News side: Trump says he will put pressure on states to restart campuses. The Federal Reserve Rosengren expects the US economy to be weaker than expected throughout the summer and autumn. By the end of this year, the unemployment rate could fall below 8%, or even to 7%, according to Brad, the federal reserve. Gold holdings in gold-funded exchange funds increased by 734 tonnes in the first half of 2020, more than in any previous year, according to the World Gold Council.

[fund position] Gold ETF held 1202.57 tons, an increase of 0.27% over the previous day; silver ETF position 15637.39, unchanged from the previous day.

[futures trend] on the domestic side, Shanghai gold jumped high last night and fell back after rising in intraday trading, but the gap in the daily line was not made up. Technically, it finally crossed the May high again, and the shock uplink space is expected to be further expanded; Shanghai silver continues to move higher after the high jump; the daily average line breaks the recent horizontal market upward, the daily average line maintains the upside, and the short-term focus is on the performance near the high point in early June.

Fundamentally, while the number of confirmed cases of new crowns abroad continues to reach new highs, Trump is still pressing states to fully restart and maintain the two major supporting themes of risk aversion and relaxation. At the same time, the steady growth of gold and silver ETF positions, gold and silver strong foundation is still in place. AU2012 supports 402, pressure 403.5 × AG2012 supports 4400, pressure 4520, 4650.

[operating strategy] Shanghai gold medium-term rally continued, short-term shock upward, AU2012 reference technology bit light to follow; Shanghai silver stabilized in the medium term, short-term concussion rebounded to the upper test pressure, AG2012 light much profit moved up to 4400 holding.

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