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【Night summary 】September 03,2020

Refresh time:2020-09-03

In the Asian market on Thursday, spot gold continued to rise in the short-term, just breaking through $1950. At the same time, silver expanded its gains to 1%. Yesterday, the price of gold staged a scene of high-level diving. The price of gold fell from above in 1970 to below 1940, with a sharp drop of 40 US dollars. The drop was more than 1% that day, mainly due to the pressure caused by the strong rebound of the US dollar.


In terms of the US dollar index, the US dollar remained strong on the basis of two consecutive days of rising on Thursday, and is currently trading at around 92.80. Looking at the daily line, the MACD red kinetic energy column turned to expansion again, and the KDJ stochastic indicator tried to rise from the 50 level, indicating that the short-term bullish kinetic energy was strengthened, or further shocked upward. In 4 hours, the US dollar continued its rebound from a low of more than two years, and we are concerned about whether it can completely break through the 100-period moving average. The MACD red kinetic energy column is basically stable, and the KDJ stochastic indicator has reached the overbought level, indicating that the US dollar has strong bullish kinetic energy and may go higher in the short term.


In terms of spot gold, on Thursday, gold tried to rebound after yesterday's heavy setback, and is currently trading at around $1960. On the daily line, the MACD green kinetic energy column turned steady, and the KDJ stochastic indicator continued to hover near the 50 level, indicating that the bearish kinetic energy of gold is stable and may fluctuate further. In 4 hours, the price of gold continued its downward trend from above US$1990 and is currently hovering near the 100-period moving average of US$1950. The MACD green kinetic energy column is relatively strong, and the KDJ stochastic indicator attempts to rebound from the oversold level, indicating that gold has strong bearish kinetic energy and may fluctuate further in the short term.


In terms of spot silver, silver hovered at a low level after falling for two consecutive days on Thursday, and is currently trading at around US$27.70. On the daily line, the MACD green kinetic energy column turned to expand, and the KDJ stochastic indicator hovered above the 50 level, indicating that the bearish kinetic energy of silver has strengthened and the price may fluctuate further. In 4 hours, the price of silver rebounded after hitting a low of $27.05. We are concerned about whether this support can be held. The MACD green kinetic energy column weakened slightly, and the KDJ stochastic indicator tried to rebound from the oversold level, indicating that the bearish kinetic energy of silver has weakened, and the short-term or further shocks may rise.


Spot gold:


Resistance: 1940, 1945, 1951 Support: 1936, 1930, 1925


Spot silver:


Resistance: 27.50, 27.80, 28.10 Support: 27.10, 26.80, 26.50