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【Night summary 】September 02,2020

Refresh time:2020-09-02

In the Asian market on Wednesday, spot gold maintained a downward trend, and once set a new low in the day to below 1960 US dollars. At the same time, silver expanded its decline to below 28 US dollars. The US manufacturing data released yesterday was better than expected, boosting hopes for US economic recovery, driving the US dollar to continue to rebound from a low of more than two years, and the price of gold fell from its earlier high in the past two weeks, and finally closed at around 1970 US dollars. .


In terms of the US dollar index, on Wednesday, the US dollar remained stable at a high level after bottoming out yesterday and is currently trading around 92.35. On the daily line, the MACD red kinetic energy column was basically stable after weakening, and the KDJ stochastic indicator remained stable above the oversold level, indicating that the short-term bullish momentum has weakened or further oscillated. In 4 hours, the US dollar has continued to rise after hitting a low for more than two years, and is currently returning to above the 20-period moving average. The MACD red kinetic energy column gradually expanded, and the KDJ stochastic indicator sharply approached the overbought level, indicating that the US dollar has strong bearish kinetic energy and may go higher in the short term.


In terms of spot gold, gold was under further pressure within the day after it rose back yesterday and is currently trading around 1960. On the daily line, the MACD green kinetic energy column gradually weakened, and the KDJ stochastic indicator broke through the 50 level, indicating that the bearish kinetic energy of gold has slowed down and is expected to rebound further. In 4 hours, the price of gold fell sharply after hitting a high point above US$1990 yesterday, and is currently approaching the 100-period moving average of US$1954. The MACD green kinetic energy column initially appeared, and the KDJ stochastic indicator fell below the 50 level, indicating that the bearish kinetic energy of gold has strengthened, and the short-term or further downtrend may be expected.


In terms of spot silver, silver on Wednesday fluctuated greatly yesterday, but closed flat as a whole, currently fluctuating within a narrow range near the 28 mark. Looking at the daily line, the MACD green kinetic energy column weakened slightly, and the KDJ stochastic indicator tried to approach the overbought level, indicating that the bearish kinetic energy of silver has weakened and the price may fluctuate further. In 4 hours, the price of silver continued to fall after hitting a high of US$28.90 yesterday and once fell below the 20-period moving average. The MACD green kinetic energy column initially appeared, and the KDJ stochastic indicator fell below the 50 level, indicating that the bearish kinetic energy of silver has increased, and the short-term or further shocks may fall.


Spot gold:


Resistance: 1965, 1970, 1976 Support: 1962, 1957, 1951


Spot silver:


Resistance: 28.00, 28.30, 28.60 Support: 27.70, 27.20, 26.90