[7.7 Zhishui Precious Metals Morning Review] epidemic worries about increasing risk aversion demand for precious metals may continue to rise today

SMM7 March 7: I. Macroeconomic policy changes:

1. Beijing, July 2, 2030, the United States added 4.8 million non-farm payrolls in June, much higher than the expected 3.058 million, with the previous value revised to 2.699 million from 2.509 million. The unemployment rate fell further to 11.10 percent, below expectations of 12.50 percent and 13.30 percent.

2. Admiral Brett, assistant secretary for health affairs at the (Department of health and Human Services) of the U.S. Department of Health and Human Services, said the United States is not flattening the curve. The curve is still rising. "flatten the curve" means to reduce the infection rate of new crown pneumonia, which is a slogan in the early days of the outbreak. Giroir pointed out that the curve was successfully flattened at one point, but the number of cases in the United States increased again, led by southern and western states. Arizona, California, Florida and Texas account for 50% of new cases in the United States every day. Dozens of other states have also reported not only an increase in overall cases, but also an increase in the percentage of positive test results, an indicator of the growing epidemic.

Two. Market performance:

Gold rose moderately in the previous session, with a high of $1787 / oz and a low of $1770 / oz to close at $1784 / oz.

In the previous session, TD gold fell slightly to close at 396.81 yuan / kg, down 95 yuan.

Last trading day, TD silver rose slightly, closing at 4329 yuan / kg, up 5 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:

On the last trading day, London gold closed a Zhongyang line, the highest price broke through the previous session's highest price, the closing price closed above MA5, MA5 upward, MA60 continued to extend upward, RSI index is in the normal range, has successfully broken through the previous consolidation range to open up space, may rise further in the short term.

The first support level is $1770 / oz below, the second support level is $1758 / oz, the first pressure level is $1789 / oz above, and the second pressure level is $1800 / oz above.

5. Focus on Today

No important data or events.

Six. direction suggestion:

Gold

For gold medium-and long-term trading in the early multi-order to continue to hold;

For Loco-London gold several days of trading in the early multi-order to continue to hold, no positions wait and see. ;

For TD several days of trading pre-multiple orders continue to hold, no positions wait and see;

For intraday trading, Loco-London gold 1779 bargain, 1769 stop loss, 1789 stop profit;

For intraday trading TD gold 397.1 bargain, 396.1 stop loss, 398.5 stop profit;

Silver

For silver medium-and long-term transactions more than one order to continue to hold;

For several days of trading silver TD Prophase and yesterday more than 4325 orders continue to hold, no positions wait and see more;

For intraday trading silver TD4350 bargain, 4320 stop loss, 4390 stop profit;

For spot trade transactions may rise slightly today, if not timely operation, as far as possible in the futures hedging operation.

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