Silver was trading at $17.911 an ounce in early Asian trading on Monday. On the day of silver accelerated oscillations higher, is located above the main moving average, the day extended to more than 1.70%.
On 21 June local time, the Indian Border Police force issued a statement stating that in the past 24 hours, 14 new cases of novel Coronavirus were reported by the Force. At present, there are 58 novel Coronavirus “active cases” in the Indian Border Police Force.
Recently, the global epidemic has not been stable and under control, and geopolitical risks are constantly erupting. In addition to the uncertainty of China-Us relations, the conflict between China and India has once again become the focus of market risks. There was fresh news over the weekend and risk aversion was still simmering at the start of the week.
Indian Prime Minister Narendra Modi delivered a key speech at an all-party conference the day before, the Hindustan Times reported June 20, citing two unnamed Indian military officers. His speech was the main spirit of the Indian army border force major changes have taken place in the rules of engagement, that is to say, the line of actual control of the country near the frontline officers and men will no longer be limited to the use of guns, but the “situation”, even in “deal with special cases”, use weapons will have “complete freedom of action”, and has all the power of using all available resources.
Last week 20 Indian soldiers were killed in border clashes with Chinese troops. Indian Prime Minister Narendra Modi held an all-party meeting on Friday (June 19) to discuss the latest situation along the China-India border. Modi said India’s borders were secure and the military was capable of defending them.
“No one has crossed our borders or occupied our outposts,” Mr Modi said in a televised statement at the end of a party-wide meeting convened by his government to discuss the conflict.
Modi said India would continue to develop its border infrastructure rapidly and would not give in to external pressure.
Then we need to keep an eye on the situation of The Conflict between China and India. If the conflict escalates, it will trigger a rise in risk aversion in the market, and precious metals will further rise sharply.
On the daily chart, the U.S. dollar index continued its recent rally trend, with the daily MACD red kinetic column expanding slightly and the KDJ random index continuing to move higher, indicating the strengthening of the U.S. dollar rally momentum, which is expected to continue in the near future.
In the 4-hour chart, the DOLLAR index also showed a mild rebound trend, with the MACD red kinetic energy column slightly narrowed and the KDJ stochastic index slightly under pressure, indicating that the dollar’s short-term rebound kinetic energy is slightly insufficient and may come under pressure later.
On the daily chart, silver staged a small rally, the MACD green momentum column slightly narrowed, and the KDJ random index turned sharply higher, indicating that the silver rally momentum to resume, the coming more strong rebound.
On the 4-hour chart, silver also started a strong rally, MACD red momentum column slightly expanded, KDJ random index further higher, indicating that silver will continue to expand the short-term rally.
Fundamentals positive factors:
- According to statistics from Worldometers, as of June 22, Beijing time, more than 9.03 million cases and 460,000 deaths of COVID-19 have been confirmed worldwide. In the United States, there have been more than 2.35 million confirmed coVID-19 cases and more than 120,000 deaths.
2.The United States is taking cautious steps to prepare for a second wave, White House trade adviser Navarro said in an interview with CNN on Sunday.
3.Prime Minister Narendra Modi delivered a key speech at an all-party conference the day before, the Hindustan Times reported June 20, citing two unnamed Indian military officials. His speech was the main spirit of the Indian army border force major changes have taken place in the rules of engagement, that is to say, the line of actual control of the country near the frontline officers and men will no longer be limited to the use of guns, but the “situation”, even in “deal with special cases”, use weapons will have “complete freedom of action”, and has all the power of using all available resources.
- PepsiCo issued another statement to ensure that all products in the new place have been sealed after the outbreak; All employees at the factory have been quarantined at home. PepsiCo said in a statement that its seven food plants in China are affected by the outbreak in Beijing’s Xinfadi wholesale market only at a factory in Beijing’s Ciwei Road, which produces small quantities of Lay’s unlimited canned potato chips.
Fundamentals negative factors:
1, by the Chinese academy of medical sciences institute of medical biology will be invented independently coronavirus inactivated vaccines, on June 20, afternoon in yunnan honghe Ⅱ phase of clinical trials.
2.Wu Zunyou, chief epidemiologist with the Chinese Center for Disease Control and Prevention, said on Thursday that the epidemic in Beijing was under control and that if a curve was drawn to show the peak of the disease on June 13, the number of cases would be lower and lower.
3.On June 18 local time, who chief scientist Sumiya Swaminathan said that at least 200 coVID-19 vaccines are under development and about 10 are in human trials, three of which will soon be in phase III clinical trials, including one from China. China has several vaccine candidates, and results from phase I and phase II clinical trials show promise. One or two successful vaccine candidates could emerge by the end of the year.
- U.S. Trade Representative Robert Lighthizer said on June 17 that China has continued to honor its commitments under the first phase of the trade agreement signed by the Two countries at the beginning of the year, even as it has been affected by the epidemic and issues in Hong Kong.