Futures market comments: International gold prices closed slightly higher, closing at per ounce1949USD, up by0.14%

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On Wednesday Eastern Time, the international gold price closed slightly higher and reported on1950Below the US dollar level.As of closing, New York Mercantile Exchange goldfuturesThe most active market trading12Monthly gold futures price12Daily increase compared to the previous trading day2.7US dollars, closing at per ounce1949USD, up by0.14%. No one knows why the gold and silver market has experienced such a significant decline, but everyone is worried that they will be exposedRJO FuturesMarket StrategistPhil StreibleTell the reporter. In his view, the apparent reasons for the sharp decline were progress in vaccine research and development in Russia, a rebound in US bond yields, and the United States7monthPPIThe data exceeded expectations and stimulated investors' risk appetite, attracting a large amount of capital to withdraw from the gold and silver markets and re invest in the stock market; But the underlying reason is that the current gold and silver market is crowded with a large number of retail speculators. When they anticipate the gold and silver prices' peak 'and profit taking, a stampede like downward trend is difficult to avoid.
The bull market of the past year has largely been a delayed correction to the long-term low level. Although gold prices have been declining for most of the past decade2009Since then, it has never fallen below an ounce1000Once the current volatility of the US dollar is eliminated, it is also unlikely that gold prices will fall below per ounce again1700USD. This is not because gold can hedge against inflation or other reasons, and in the past10The low inflation environment of the year was also not conducive to gold. A better explanation is that gold constitutes a relatively stable part of the global liquid investment portfolio, while the recent price surge has mostly been a return to the mean.
This week, the gold market experienced a rare sharp drop and is losing ground2000dollar/After the ounce level, Wednesday(8month12day)Once dropped to1900Below. ColumnistDavid FicklingIn fact, the rise in gold prices over the past year is a correction to the low levels of the past few years, and this correction is long overdue.FicklingThink, just like2009After the year, the gold market has never fallen below again1000dollar/Just like the ounce level, this time the gold price will not return1700dollar/Below the ounce.
Technical aspects of Meijin:
The Ritu Bolin Belt runs three tracks upwards,MA5Under the moving averageMA10The moving average runs in a dead cross downward direction,KLine intersection between tracks in BolinMA20Near the moving average,MACDThe fast and slow lines show a dead cross and gradually release green kinetic energy downwards,KDJThe three-line dead cross runs upwards and diverges, but the overall market is still operating in a downward trend;4On the hourly chart, the Bollinger Belt runs downward with three tracks,MA5Mean Square andMA10The moving average crosses the golden cross upwards,KLine intersection between Bolin lower tracksMA5Near the moving average,MACDThe fast and slow lines appear as a dead cross, with green kinetic energy showing a decrease,KDJThe three lines run upwards in a golden cross,Gold prices have a certain upward potential in the short term, and it is recommended to focus on lower prices for intraday operations. Preliminary resistance above1960Nearby, the resistance in the next step is1981； Preliminary support below1926 Further support on1900；
Daily trading strategy（12Contract):
1Above1960-1981Short selling nearby, stop loss each10US dollars, stop earning each300Point;
2Below1926-1900Short term long trading nearby, stop loss each10US dollars, stop earning each200Point;
The content of the article is purely the author's remarks in the upcoming market（qsly1818）My personal opinion is that I do not recommend placing orders. The specific market situation is based on the intraday trend. There are risks in investing and caution is required when entering the market.
writing/Market comments