Daily Report 141114 2014-11-14
Gold

After the recent slump, the price edged up to fix previous dropping. Investors who hold short positions at high price should make defense by 5-day moving average; the short term we suggest not taking any further steps beside wait and see; intraday pay attention to the performance at RMB 232.
From the financing perspective appears that funds are not bullish on gold price. Gold ETF was lightening up 6.13 tons in four consecutive days to 720.62 tons.


Silver

Overnight domestic silver price has a narrow adjustment. In short term, 10-day moving average and 5-day moving average crossed at RMB 3325. In terms of operation, silver futures price rally slightly recently. Investors should make defense at RMB 3300 for previous short positions which bought in at high price. In the short term we suggest not taking any further steps beside wait and see; intraday pay attention if it could break through the resistance at RMB 3350.
In general, silver price followed with the gold price trend; it may hardly get rid of the independent situation. From the fund perspective, silver ETF remains unchanged for five continuous days


Stock Index

Yesterday stock index was waving and ended up by falling. The industry, investment and other data in October were published; the economy is still in the weak trend, but there is no unexpected fall. The steady growth and loose monetary policy will continue executing. The central bank carried out MLF towards local commercial banks, which proved that government will continue guide downward price further. The short index may wave, but it may have less impact on the general upward trend.


Soybean

Trend of soybean in Dalian Commodity Exchange is independent. Domestic soybean spot remains weak. Farmers are more willing to sell, which lays further pressure to soybean spot. Soybean meal spot prices in part of regions drop by RMB 10 to RMB 30 / ton. Soybean meal spot tends to drop slightly as the U.S. soybean is going to arrive at the end of the month. Pressure in the market is relatively strong. In terms of operations, considering the soybean fluctuates strongly in foreign market, short-term moves could be taken for soybean meal in Dalian Commodity Exchange. As for the No.1 soybean, contracts in near months are believed to be strong while contracts in far months are weak.
                                                                                            Dong LV (Investment Certificate NO. TZ008452)