Zhao Xiangbin: The gold encounter institution has once again reduced its holdings and is holding steady

Gold was pressured below $1,203 yesterday and failed to break through. During the period, it was once retraced to support the support below, but repeated trials have not fallen below the support below. Today, the market oscillated around $1,197.

Silver fell back and fell around 16.52 US dollars, basically swallowed up on Tuesday's rise, oscillating around $ 16.5 in early trading today.

According to the analysis of fundamental factors, gold and silver basically withstood the indiscriminate bombing of the United States last night. The increase in personal expenditure in October was lower than market expectations; the durable goods orders deducting national defense fell for two months; as of November 22 The number of jobless claims at the beginning of the week and the Michigan consumer confidence index in November were both lower than market expectations and the previous value; the dollar was significantly lower due to its influence, and gold and silver were able to stabilize at a high level but apparently lacked upside momentum. Secondly, the world's largest gold ETF-SPDR position has been reduced, currently 718.822 tons, which is also a week after the steady resumption of holding action; investors need to pay close attention; silver ETF-iShares positions remain unchanged Still 10822.60 tons. Third, Societe Generale said in its report yesterday that it expects investment demand for gold to weaken, especially as the US begins to raise interest rates and obtain better economic conditions next year; analysts also predict that the average price in 2015 will be 1025. US dollars per ounce. Fourth, Bloomberg today quoted TaiWong, an analyst at Bank of Montreal in Canada, as saying that “the market is very bearish on the euro and the yen,” and it also indicates that the price of gold denominated in these currencies will rise further. Fifth, the upcoming Swiss referendum will give the ultimate guidance on market prices, and the current market speculation has passed and failed. Based on the factors of comprehensive fundamentals, the support of gold and silver is slightly stronger, but it still needs to wait for the final break.

Gold technical analysis, yesterday's Xiaoyin line closed, the upside blocked in the 40-day moving average sideways to achieve four trading days; morphological analysis gradually out of the triangle finishing pattern, such a pattern is easy to break up; and the daily indicator There is a tendency to fall back, the MACD red column is shrinking very quickly, and the DKJ high-end dead fork has a tendency to open downward.

According to the analysis of silver technology, the fall of the Yinxian line yesterday constitutes a combination of bearish engulfing. Although the price can still be adjusted at US$16.50, the impact of this technology bearish portfolio is not optimistic; the technical trend is slightly bearish.

Today, due to the US Thanksgiving holiday, it is expected to be slightly shocked; intraday volatility is not expected to be guarded against the impact of other emergencies on price formation. The resistance of gold and silver is around $1,208-1210 and $16.8-17, respectively, and support is around $1,185-90 and $16.2, respectively.

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