The difference between the strength of precious metals and the decline of silver is greater than that of gold.

I. changes in macroeconomic policies:

1. Initial jobless claims fell further below 500000 last week, but unemployment surged in early May, which could lower expectations that job growth is expected to accelerate this month. In the week ended May 15, the number of initial claims for unemployment benefits decreased by 34000 to a seasonally adjusted 444000. This is the lowest level since mid-March 2020, and the number of first-time jobless claims has fallen below 500000 for two consecutive weeks.

two。 Market performance:

The price of gold rose slightly in the previous session, with a high of 1889 US dollars / oz and a low of 1870 RMB / oz to close at 1881 US dollars / 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:

In the last session, London gold closed with a small positive line, closing above MA5, MA5 up, MA60 flat, the RSI index in an all-time high range of overbought, may fall today.

The first support level is $1700 / oz below, the second support level is $1676 / oz, the first pressure level is $1855 / oz above, and the second pressure level is $1900 / oz above.

5. Focus on Today

None.