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[7.14 Zhishui Precious Metals Morning Review] Silver follows the rise of non-ferrous gold to continue consolidation in the short term.
Jul 14,2020 08:19CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 14: I. Macroeconomic policy changes:

1. The Federal Reserve Bank of New York announced a schedule of repo agreement operations for the period from July 14 to August 13, maintaining the frequency of one-month repurchase operations at once a week, keeping the limit for overnight and periodic repurchase operations at $500 billion, and keeping the minimum bid for overnight operations at 5 basis points for IOER+ and IOER+10 basis points for periodic repurchase operations.

2. The U.S. Treasury Department said more than half of the deficit increase was due to a $511 billion increase in SBA budget spending, mainly for salary protection programs; revenue fell 27.9 percent year-on-year to $240.8 billion; spending rose 222.7 percent year-on-year to $1.1049 trillion; year-to-date deficit was $2.7443 trillion, compared with $747.1 billion in the same period last year. In the year to June, year-to-date income fell by 13.4%, while spending rose by 49.1%.

Two. Market performance:

Gold rose slightly in the previous session, with a high of $1813 / oz and a low of $1798 / oz to close at $1802 / oz.

In the previous session, TD gold rose slightly, closing at 401.1 yuan / kg, up 0.47 yuan.

In the previous session, TD silver rose moderately, closing at 4525 yuan / kg, up 97 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:

5. Focus on Today

Six. direction suggestion:

Gold

Silver

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