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In the news, since the U.S. election last month, not only the U.S. bond market, but the global metal market including copper, aluminum, steel, etc., has experienced a wave of Trump prices. Previously, U.S. President Trump promised to invest trillions of dollars in the next year to expand and rebuild infrastructure such as roads and airports, which has investors betting that the infrastructure boom will boost demand for raw materials.
As the world's largest metal consumer, improved demand from China's real estate and infrastructure markets over the past year has helped drive a rebound in industrial commodity prices. London copper prices increased by 1% year-on-year, iron ore prices nearly doubled, zinc benchmark prices increased by nearly %, nickel and aluminum prices also increased by nearly 30% compared with last year. This time last year, the Chinese government launched a massive stimulus package in response to slowing economic growth, causing credit to expand at a rate not seen since the financial crisis. A repeat of China's credit feast is expected to push up global metals prices again.
International spot gold consolidated within a narrow range around the US dollar/ounce at the beginning of the Asian market on Friday (June 2). On Thursday (June 2), despite mostly positive U.S. economic data, the U.S. dollar still fell. At the same time, political uncertainty in Europe and the U.S. boosted safe-haven buying of gold. Gold prices rose for the third consecutive day that day, hitting the highest intraday price of U.S. dollars per ounce. Gold bulls are gaining more confidence from a rebound in gold prices after last year's fourth quarter posted its worst quarterly performance in more than three years, according to the latest survey, which showed traders were bullish on gold prices for an eighth consecutive week, marking the longest bullish cycle in years.
Silver Technical Analysis
At present, it can be seen from the daily chart that the silver price is in the upward channel. Silver has stabilized the US dollar mark and is further rising. Every time the recent market retracement near the US dollar is immediately affected by bulls The counterattack thus shows that there is not much room for silver prices to fall. Under the current situation, continue to adhere to the principle of going long after falling back. When the market gives a good opportunity to enter the market, Tianhui Pinjin recommends buying long orders at low levels in time. In order for the market outlook to continue the upward trend and hit new highs, be prepared in advance. Suggestions for intraday operations. Still long on dips.
Silver operation suggestions
Pull back below. Go long and stop loss. Look at the target below. Continue to hold if the position is broken and look at the top.
Gold market analysis
Gold review yesterday's market Yesterday's gold overall Generally speaking, it is a volatile upward trend. Except for the decline in the Asian market, the market has generally been rising throughout the day. In the evening, the US market rose sharply again and hit a recent high. Gold opened higher again in early trading today. The market trend continues to continue yesterday's rising momentum. At present, The market has once again fallen into high consolidation. After last night's sharp rise, the space above gold has been effectively opened. From a technical point of view, the moving average system on the daily chart shows a bullish arrangement and a wave-like rise. Therefore, it is recommended to do callbacks today, mainly longs and supplemented by high altitudes.
Gold operation suggestions
It is recommended that long orders should be entered near the stop loss point target near the pullback
It is recommended that short orders can be entered near the stop loss point target near the top line