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Commodity News

Gold and Silver Opened Lower and Went Higher, Falling into Consolidation

March 16 2021 09:14:16     Ruida Futures (Linda)

Market trend: the main 2106 contract of Shanghai Gold Group Co., Ltd. opened lower and rose higher today, with intraday trading at 366.16-358.5 yuan / g and closing at 363.86 yuan / g, up 0.86% compared with the closing price of the previous day, with 158000 turnover and 6204 daily increase; 133000 positions and 3657 daily decrease; the main 2106 contract of Shanghai silver Group Co., Ltd. declined first and then rose, closing at 5400 yuan / kg, up 1.05% compared with the closing price of the previous day.

Market focus: (1) Asian Dollar Index rose slightly, trading at 91.74, up 014%. (2) US media: the US judge issued a preliminary injunction to prevent the US Department of Defense's ban on Xiaomi company from taking effect.

Internal position: Shanghai Gold main 2106 contract top 20 long position 62040 hands, short position 33252 hands, net long position 28788 hands, more short increase. Shanghai Bank 2106 contract top 20 long position 224566 hands, short position 167648 hands, net long position 56918 hands, short position reduction is greater than long.

External position: as of March 12, SPDR gold trust gold ETF position was 1052.07 tons, down 17.19 tons in a week, down 9 weeks in a row to the low since April 28, 2020. Meanwhile, the position of shares silver trust silver ETF was 18426.89 tons, a weekly decrease of 129.97 tons, falling for five consecutive weeks, setting a new low since January 28.

Market Research and judgment: on March 15, precious metals in Shanghai stock market all opened lower and higher, with large fluctuation, falling into consolidation situation. During the period, the market focused on the interest rate resolution of the Federal Reserve and Powell's speech. The slight decline of the US dollar index and the weakness of the stock market offset the pressure brought by the rise of US bond yield. The long and short influencing factors were intertwined. Technically, the MACD green column of gold and silver daily line is shortened, but the KDJ index of hour line turns downward. In terms of operation, it is suggested that the main force of Hujin can sell high and absorb low between 360-366 yuan / g, with a stop loss of 3 yuan / g; the main force of Huyin can sell high and absorb low between 5280-5480 yuan / kg, with a stop loss of 100 yuan / kg.

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