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European and American officials hinted at the short-term adjustment signal of recovery + US dollar rebound in gold and silver.
Jul 17,2020 10:32CST
translation
Source:Beit futures
The content below was translated by Tencent automatically for reference.

SMM Network News: [outer disk, news] overnight, international gold and silver fell. COMEX gold closed at 1808.7, down 0.93%, daily line Xiaoyin received 5, 10-day moving average, MACD appeared lower fork, short-term adjustment requirements, pay attention to 1800 integer gate support, pressure 1831 position Comex silver closing close 19.555, down 1.44%, daily line Xiaoyin decline, daily moving average and

MACD upstream maintained, but MACD red column shortened, showed signs of adjustment, support 19.3, pressure 20.2.

News: the ECB left its benchmark interest rate unchanged and kept its emergency anti-epidemic bond purchase program at 1.35 trillion euros. The ECB president hinted at a recovery in economic activity. The number of initial claims for unemployment benefits in the United States in the week ended July 11 was 1.3 million, compared with an estimated 1.25 million, compared with 1.314 million in the previous week. Us retail sales rose 7.5 per cent in June and are expected to grow 5.0 per cent and 17.7 per cent in May. Fed Evans said the economy is beginning to recover, but it still faces serious challenges.

[fund positions] Gold ETF held 1206.89 tons, unchanged from the previous day, while Silver ETF held 16211.05, an increase of 0.99% over the previous day.

[futures trend] on the domestic side, Shanghai gold opened low last night and fell back, breaking the recent small platform and 400 integer mark, 5-day moving average and MACD downward hook, short-term adjustment requirements enhanced; Shanghai Bank opened in a narrow range concussion fell slightly, the daily line broke the 5-day moving average, MACD red column shortened, short-term also has signs of adjustment, do not rule out the downward test of 4520 support. In terms of fundamentals, the confirmed cases of new crowns abroad are still reaching new highs, and the two main supporting lines of risk aversion and relaxation under the epidemic remain unchanged. But the Chinese and US economic data were better than expected, with European and US officials hinting that economic activity was beginning to recover and the dollar rebounded. At the same time, the ECB stood still and failed to make progress to strengthen market expectations of easing, a series of factors that had a negative impact on the upward willingness of gold and silver. In addition, silver, which has a heavy commodity attribute, is also dragged down by a pullback in the stock index. AU2012 support 397, pressure 402 × AG2012 support 4520, pressure 4640.

[operating strategy] the medium-term rally of Shanghai gold continues, short-term shock adjustment, AU2012 multi-single closing position, activists refer to 402 pressure rebound short-term test; Shanghai Bank is bullish in the medium term, short-term concussion adjustment, AG2012 take the initiative to reduce positions or close positions, and make rolling plans to change hands.

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