[7.20 Zhishui Precious Metal Morning Review] the epidemic situation in the United States remains high and precious metals continue to be repaired horizontally.

SMM7 March 20: I. Macroeconomic policy changes:

1. IMF: the Fed has room to increase asset purchases and forward guidance, and the US economy is expected to plunge 37% in the second quarter and shrink by 6.6% for the whole of 2020.

Two. Market performance:

Gold rose slightly in the previous session, with a high of $1812 / oz and a low of $1795 / oz to close at $1810 / oz.

In the previous session, TD gold fell slightly to close at 396.95 yuan / kg, down 2.57 yuan.

In the previous session, TD silver fell slightly to close at 4502 yuan / kg, down 45 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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