Industrial and Commercial Bank of China's paper gold paper silver rose in the morning of Asian market on Tuesday

FX168 Financial News (Hong Kong) News Industrial and Commercial Bank of China Paper Gold Paper silver On Tuesday (November 20), both Asian markets rose in the morning. On Monday (November 19), the Asian market of international spot gold opened at $1221.36/ounce in the morning, the highest reached $1225.19/ounce, the lowest reached $1217.45/ounce, and finally closed at $1223.90/ounce, up $2.6, or 0.21%. On Monday (November 19), the international spot silver opened at 14.41/ounce in the Asian market in the morning, with the lowest decline of 14.30/ounce, the highest rise to 14.44/ounce, and finally closed at 14.40/ounce, up 0.01 dollars, or 0.07%.

The dollar continued to decline, with the dollar index hitting 96.22 as the lowest, continuing to operate below the 97 level. US stocks fell sharply, with the Dow falling more than 400 points, led by technology stocks, and the Nasdaq tumbling more than 3%. The sharp correction of the stock market gave rise to the demand for risk aversion, which made gold rise steadily. The US NAHB property market index for November released within the day was 60, lower than the previous value of 68 and the expected value of 67, recording the largest decline since February 2014.

There is no major news event in the market this week. Hussein Sayed, chief market strategist of FXTM, said that before the emergence of a new catalyst, gold will continue to consolidate between $1200-1250. The new catalyst may be the progress in the Brexit negotiations or the G20 meeting between the United States and China. He said, "If we hear more moderate remarks about the tightening cycle, it will drag down the dollar and push it again Gold price Trend. "

"Alasdair Macleod, research director of GoldMoney.com, said," Since the United States will take a holiday on Thanksgiving Day on Thursday, it will be a very quiet week. Due to the contradictory signal that there may be a truce in the Sino US trade dispute, the world stock market rose. " The German analyst said that unless "we see more volatility in the stock markets of emerging markets and industrial countries, the gold prospect is not optimistic."

At present, from the technical point of view, although the gold price has returned to 1220 and the upward momentum has been strengthened, it remains to be seen whether the gold price can be stabilized above this level. Air still has comprehensive technical advantages in the near future. On the upside, 1225 is the spot resistance level, followed by 1230; In the downward direction, 1220 is the first support, followed by 1210 and 1200.

Fundamentals:

1. The U.S. NAHB housing market index for November released on Monday (November 19) was 60, lower than the previous value of 68 and the expected value of 67, recording the largest decline since February 2014.

2. The monthly rate of US industrial output in October announced on Thursday (November 15) was 0.1%, lower than the previous value of 0.3% and the expected 0.2%. The Federal Reserve said that the hurricane caused a decline in productivity in September and October, but the impact of these factors on September and October was less than 0.1%.

3. On Thursday (November 15), the number of new claims for unemployment benefits in the week from the United States to November 10 was 216000, slightly higher than the previous value of 214000 and the expected 212000. Comments said that the number of new claims for unemployment benefits in the United States unexpectedly increased last week, but the data in three major states were expected due to the impact of Monday's holiday. In addition, North Carolina Data for Florida and Georgia continue to be affected by hurricanes, so their accuracy cannot be guaranteed.

4. The US trade account for September announced on Friday (November 2) was - 54 billion US dollars, lower than the previous value of - 53.2 billion US dollars and the expected value of - 53.6 billion US dollars. The trade deficit between China and the US expanded to 40.24 billion US dollars, a record high, reaching 38.57 billion US dollars in August.

Fundamental negative factors:

1. The monthly rate of retail sales in the United States in October was 0.8%, higher than the previous value of 0.1% and the expected 0.5%. Comments said that the monthly rate of retail sales in October rebounded sharply, recording 0.8%. Because of the surge in sales of vehicles and building materials, it may be driven by the reconstruction of the area hit by Hurricane Florence. In addition, household purchases of electronic products and appliances are also driving factors.

2. The monthly rate of US commercial inventory in September was 0.3%, lower than the previous value of 0.5% but in line with the expectation of 0.3%. Comments said that the monthly rate of commercial inventory in the United States recorded a moderate rise in September against the background of the slowdown in the growth of retailers' inventory. The commercial inventory of the United States rebounded in the third quarter after a downturn in April and June, which eventually contributed 2.07% to the annual growth rate of 3.5% in the third quarter.

3. The US consumer price index (CPI) for October, announced on Wednesday (November 14), rose by 0.3%, a nine-year high but in line with market expectations.

4. The US October PPI index released on Friday (November 9) was 0.6%, far exceeding the market expectation of 0.3%, which was the largest increase since September 2012. The data fell into the hawkish camp of the Federal Reserve, providing evidence for interest rate hikes.

Focus on Tuesday

08:30 The RBA released the minutes of the November monetary policy meeting

21:30 Annual total number of new housing starts in October in the United States

Total number of construction permits in the United States in October

05:30 the next day API from the United States to the week of November 16 crude oil stock

At 05:59 Beijing time, ICBC paper gold rose 0.11% to 273.20/g.