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【Morning summary 】September 02,2020

Refresh time:2020-09-02

Gold prices rose slightly on Tuesday. The weaker U.S. dollar offset part of the pressure from stronger-than-expected U.S. manufacturing data. U.S. manufacturing data caused gold prices to fall from a two-week high. The highest in the day reached US$1992.15 and the lowest was pulled back to US$1963.12. It rose 2.56 to US$1970.09, and the daily line showed a reversal test small Yang line pattern.


In terms of the U.S. dollar index, the U.S. dollar rose on Tuesday, the highest within the day reached 92.39, the lowest retreated to 91.75, and closed up 0.14 to 92.29, as the Fed’s new policy framework hinted that U.S. interest rates would remain at a record low for the foreseeable future, making the U.S. dollar weaker across the board deepen. However, due to the deadlock in the Brexit negotiations, and the Bank of England Governor Bailey is about to deliver a speech in the middle of this week, the Bank of England will announce its next monetary policy on September 17, which limits the rise of the pound. British Prime Minister Johnson said on Tuesday that agreement should be reached on the simple parts of the future relationship between the UK and the EU before negotiations on more difficult areas.


In terms of spot gold, gold rose on Tuesday. Looking at the daily line, the MACD green kinetic energy column gradually weakened, and the KDJ stochastic index broke through the 50 level sharply. In 4 hours, the MACD red kinetic energy column basically remained stable, and the KDJ stochastic index reached the overbought level. On the whole, the price of gold continues its previous momentum of volatility, and has now stood at all moving averages. The bullish momentum is stable. It is recommended to do more on dips in operation.


In terms of spot silver, silver rose on Tuesday. Looking at the daily line, the MACD green kinetic energy column weakened slightly. The KDJ stochastic indicator tried to approach the overbought level. In 4 hours, the MACD red kinetic energy column was basically stable, and the KDJ stochastic indicator was approaching the overbought level. , On the whole, the bearish momentum of silver weakened, and the price may fluctuate further up. It is recommended to do more on dips in operation.


Spot gold:


Resistance: 1975, 1980, 1986 Support: 19970, 1965, 1959


Spot silver:


Resistance: 28.50, 28.80, 29.10 Support: 28.00, 27.70, 27.20