Market trend: Today, the main Shanghai gold contract 2106 first rose and then fell. The intraday trading was at 369.18-366.5 yuan/g, and it closed at 367.3 yuan/g in late trading, down 0.72% from the closing price of the previous day, with a trading volume of 64,000 lots. A daily decrease of 69,840 hands; a position of 130,000 hands, a daily increase of 2,484 hands; Shanghai Bank’s main 2106 contract rose first and then fell, closing at 5219 yuan/kg in late trading, down 0.85% from the previous day’s closing price.
Market focus: (1) The U.S. dollar index in the Asian market fluctuated slightly, and is currently trading at 92.6, up 0.02%. (2) The US March ISM Service Industry Index reached a new high, and the S&P Dow Jones Industrial Average joined hands with a new high.
Internal positions: The top 20 long positions of Shanghai Gold's main 2106 contract are 63,347 hands, short positions are 28013 hands, and net long positions are 35334 hands. Long positions are larger than short positions. The top 20 long positions of Shanghai Bank 2106 contracts were 216,214 hands, short positions were 155,549 hands, and net long positions were 60,665 hands. The long position lightening was greater than the short position.
Foreign disk holdings: As of April 5, SPDR Gold Trust gold ETF holdings amounted to 1032.83 tons, which was the same as the previous trading day. At the same time, Shares Silver Trust silver ETF holdings amounted to 17,888.36 tons, a decrease of 8.25 tons from the previous trading day, and refreshed the low since January 28.
Market research and judgment: On April 6, the precious metals on the Shanghai stock market all rose first and then fell. Shanghai gold remained above the main moving average group, while Shanghai silver was blocked by the 20-day moving average. During the period, the US non-agricultural sector was better than expected. In March, the ISM service industry index hit a new high, and the dollar index fell from a high level to support gold and silver. However, as the dollar index eased, gold and silver fell under pressure. Technically, the gold and silver daily KDJ indicator crossed upwards, but the hourly MACD red column turned to the green column. In terms of operation, it is recommended that the main force of Shanghai Gold can sell high and buy low between 370-366 yuan/gram, with a stop loss of 2 yuan/gram each. It is recommended that the main force of Shanghai Bank can sell high and buy low between 5300-5150 yuan/kg, and stop loss at 75 yuan/kg each.
