I. changes in macroeconomic policies:
1. The U.S. Department of Commerce reported on January 28 that the U. S. economy shrank at its biggest level since 1946 in 2020. For the whole of 2020, US gross domestic product (GDP) was 3.5% lower than that of the previous year. Although the US economy grew in the fourth quarter, it could not make up for the huge impact caused by the epidemic in the second and third quarters.
There were calls on 2.Reddit to buy Silver Mining shares and iShares Silver Trust, an exchange-traded fund backed by spot silver bars, and a GameStop-style short run. Some silver traders covered short positions to prevent shorting due to rising prices, while some mining stocks soared, iShares silver trading volume nearly quadrupled.
two。 Market performance:
Gold rose slightly in the previous session, with a high of $1875 / oz and a low of $1839 / oz to close at $1847 / oz.
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 with a long shadow of the Xiaoyang line, the closing price closed below MA5, MA5 leveled off, MA60 slightly downward, RSI index is in the normal range, there is a short-term possibility of rise.
The first support level is $1800 / oz below, the second support level is $1765 / oz, the first pressure level is $1864 / oz above, and the second pressure level is $1900 / oz above.
5. Focus on Today
No important data or events.
Six. direction suggestion:
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