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[7.22 Zhishui Precious Metals Morning Review] the European Union plans to set up a recovery fund to accelerate the rise of precious metals
Jul 22,2020 08:19CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 22: I. Macroeconomic policy changes:

1. On the morning of the 21st local time, after several rounds of consultations and heated discussions, EU leaders finally reached a consensus on the closely watched economic rescue package on the fifth day of the special summit. It is reported that the EU is preparing to set up a total recovery fund of 750 billion euros, of which 390 billion euros will be used as free grants and another 360 billion euros as loans to finance post-epidemic reconstruction in member states. Compared with the European Commission's earlier proposal, the plan will cut the free allocation from 500 billion euros to 390 billion euros.

Two. Market performance:

The price of gold rose sharply in the previous session, with a high of $1843 / oz and a low of $1815 / oz to close at $1841 / oz.

TD gold rose moderately in the previous session, closing at 401.42 yuan / kg, up 1.95 yuan.

Last trading day, TD silver rose sharply, closing at 4789 yuan / kg, up 194 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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