Both gold and silver are mainly sideways

On Monday, Europe will discuss at the EU finance ministers summit whether to grant Greece's second aid. As far as the current EU media's remarks are concerned, there is a great possibility that Greece will be approved. However, the Greek issue has experienced prolonged negotiations. Good and bad news have been circulating during the period. Investors’ psychological experience has become more cautious. This mentality is evident on Friday's disk. On Friday, gold generally consolidated weakly. Last Friday, spot gold opened at $1,728.03, with a maximum of $1,735.79, with the lowest price dropping to $1717.13 and finally closing at $1,723.00. Silver opened at $33.43, up to $33.67, with the lowest dropping to $33.08 and finally closing at $33.25.

Because the market is concerned about the results of the European Finance Ministers' Summit, before a clear result, investors are cautious. Without major news, gold and silver are mainly sideways. Currently, gold is trading sideways in the 1737-1704 dollar range. It is recommended that investors pay close attention to the results of the European Finance Ministers' Summit and believe that at the time of the announcement of the results, there will be significant fluctuations in the market. It is recommended that investors enter the market today to do more dips.

It is recommended to build long positions near 1,723 US dollars (T+D: 349.94 yuan) in spot gold with a target price of 1737 US dollars (T+D: 352.78 yuan) and a stop loss price of US$1716 (T+D: 348.52 yuan).

In terms of silver: It is recommended that Silver set up a position near 33.20 USD, with a target price of 33.90 USD and a stop loss price of 32.90 USD.

(At the time of writing, spot gold: near 1,736 US dollars, spot silver: near 33.57 US dollars)

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