Market trend: today, the main 2106 contract of Shanghai Gold stopped falling and went higher, trading at 377.82-372.12 yuan / g during the day, closing at 376.66 yuan / gram, up 1.13% from the previous day's closing price, with a turnover of 177000 lots, an increase of 13871 lots per day; positions of 125000 lots, an increase of 1319 hands a day; the main 2106 contract of the Shanghai Bank also fell higher, closing at 5744 yuan / kg at the end of the day, up 3.4% from the previous day's closing price.
Market focus: the Asian dollar index rose slightly and is now trading at 90.46, up 0.1% on the day. (2) the Fed's semi-annual monetary policy report: it will continue to provide "strong support" to the economy.
Inner position: Shanghai gold main 2106 contract top 20 long positions 56932 hands, short positions 35195 hands, net more positions 21737 hands, more and less. Shanghai Bank 2106 contract top 20 long positions 231816 hands, short positions 212508 hands, net long positions 19308 hands, short positions more than long positions.
Outer position: as of February 19, SPDR Gold Trust gold ETF position was 1127.64 tons, down 14.58 tons a week, falling for six weeks to its lowest level since June 9, 2020. Meanwhile, Shares Silver Trust Silver ETF's position was 19243.26 tons, down 306.23 tons a week, falling for two weeks to its lowest level since February.
Market research and judgment: on February 22, precious metals in the Shanghai stock market all stopped falling and went higher, in which silver futures still rose better than gold futures, and Shanghai gold was still below the moving average group, with obvious long-and-short trading. During this period, the overseas epidemic situation is optimistic, the market is expected to strengthen the economic recovery and effectively boost the market, the basic metal copper and tin once rose by the limit, and the price of silver followed by its industrial nature. On the other hand, gold futures rebounded weakly under the upward pressure of US bond yields. Technically, the MACD green column of the gold daily line is shortened, but the KDJ index of the hourly line turns downward. The KDJ index of the silver daily line crosses upward, but the MCD red column of the hourly line shortens. In operation, it is suggested that the main force of Shanghai Gold can be sold high and sucked low between 380 and 370 yuan / g, with a stop loss of 5 yuan / g. It is appropriate for the main bulls of Shanghai Bank to reduce their positions and wait and see.
