Gold's weak consolidation yesterday failed to rise further. It oscillated between 1192 and 1204 USD, and finally closed around $1201. On Tuesday, it opened lower by $3 to $1198. Silver stabilized support around $16.24, rebounded and adjusted to close at $16.42. It gapped higher at $16.48 on Tuesday morning, and silver was slightly stronger than the price of gold. From the analysis of the impact of fundamentals, the main factors that contribute to the weakening of the gold price are the following aspects. First, after the interest rate cut in China, the stock market and real estate sectors have risen, which has seriously affected the investment in precious metals. Attributes, which are the main reasons for the initial support and then the adjustment. Secondly, although there are still many data published, the market's trading sentiment has clearly entered the light period of the holiday. On Thursday, the US dollar is the weakness of most currencies in the foreign exchange market. . Third, the market waited for the news of the OPEC meeting this week, and the Swiss referendum on whether to increase the gold reserve on Sunday. The US PMI data released yesterday evening was less than expected, posing a certain amount to the US dollar. After the pressure data was released, the gold contracted some of the decline. Fourth, the positions of the world's largest gold ETF-SPDR and the largest silver ETF-iShare remain unchanged at 720.914 tons and 10864.33 tons respectively. According to the comprehensive fundamental news, the market is weak and lacks the fluctuation factors of the dominant gold and silver prices. It is recommended to observe the impact of today's economic data on gold and silver. Technical analysis The adjustment of the silver small entity has closed, and the pattern of sideways consolidation has not changed. The support trend of the short-term moving average has not changed; the pattern has strong resistance around 16.8 USD. Technical indicators MACD red column continues to lengthen the speed line and the gold fork continues to run upwards. Gold and silver are trading shortly today. The reference support is around $1,091 and $16.2, respectively. The rebound resistance is around $1,208 and $16.8, respectively. Silicon Carbide Powder,Silicon Carbide,Black Silicon Carbide,Silicon Carbide Granule Anyang Xinyi Alloy Co.,Ltd. , https://www.xyferroalloy.com
Technical analysis Gold daily small entity K-line closing did not continue last Friday's gains, gold prices still stabilized on the support of the 5-day moving average; morphological analysis to see the gold price at 1210 US dollars is still strong, lack of more kinetic energy needs more More momentum; daily indicators have a tendency to fall.