6.21 Shanghai Gold Exchange T+D Report

Basics:

On June 21, the Federal Reserve’s Decision Committee, the Federal Open Market Committee released the latest interest rate decision statement on Wednesday. While keeping the benchmark interest rate level unchanged, the Federal Reserve’s so-called reversal of extending the average maturity of bond assets in the balance sheet The scale of operations has expanded by another 267 billion U.S. dollars.

At this meeting, the FOMC decided to extend the so-called “reversing operation” until the end of this year. This plan was launched in September last year. The content was to purchase US$400 billion U.S. Treasury bonds by the end of June 2012. The period is between 6 and 30 years; at the same time, the same amount of US Treasuries is sold, and the remaining expiration time is 3 years or less.

The FOMC pointed out in the meeting statement that the employment growth has slowed in recent months, the unemployment rate remains high, and the long-term inflation outlook remains stable.

Gold prices fell on Wednesday and later cut losses, after the Federal Reserve (FED) said it would extend stimulus measures to prevent the US economic recovery from stagnating, but did not indicate that it would adopt a large-scale monetary easing policy.

Gold initially fell 1.5% because the market was disappointed that the Fed did not announce a third-round asset purchase plan (QE3). Investors have been using gold to hedge economic uncertainty and the currency devaluation risk brought by the Fed’s actions.

The Fed said in a statement after the two-day policy meeting that the Fed will continue to sell short-term bonds and buy long-term bonds to lower the borrowing rate and extend the “short sell long” to the end of the year.

Spot gold fell 0.75% or $12.16, to $1,605.94 per ounce, and the lowest fell to $1,590.14 per ounce.

Technical side:

Gold:

The Federal Reserve stated in a statement after the policy meeting that the Fed will continue to sell short-term bonds and buy long-term bonds to lower the borrowing rate, which is mainly bearish to gold, because the statement indicates that there will not be a new large-scale monetary easing policy in the near future. Of course there will not be a third round of quantitative easing. Gold priceless support, fell below 1600;

Silver aspect:

From the silver day chart, the price of silver continued to fall yesterday, indicating that the strength of the empty side is strong. Silver is stronger at the bottom of the 10.20 day moving average, but the top line of $29 to $30 is also under pressure. Silver Breaking below 28 US dollars, the Asian board is short;

Operation suggestion:

Gold T+D: Short-term stop-loss at 1610, short on 1610 today;

Silver T + D: more than a single stop loss, Asian disk empty single entry.