Daily Report 100315 2015-03-11

Main contract of domestic gold AU 1506 corrected slightly in the night session. After rallying to RMB 240 in short term, the gold was dragged down by pressure. The downward trend is believed to continue. Previous short positions opened at RMB 254.5 could be held as the rebound momentum is slightly insufficient. Part of short positions opened when the gold is weak at RMB 244 is recommended to be closed, with defensive moves prepared at RMB 240. Investors should focus on the operational opportunities after the region between RMB 238 and RMB 240 is broken through. The employment data is not as good as expected, indicating the employment market is still relatively weak. The overnight gold ETF dropped 3.28 tons to 753.04 tons, which means the funds are not holding an optimistic view of the gold.


Main contract of domestic silver AG 1506 corrected narrowly in the night session. The silver is believed to remain a downward trend. Previous short positions opened at RMB 3800 could be held.
Part of the short positions opened at RMB 3560 last week is recommended to be closed. Defensive moves should be prepared at RMB 3490. Sound investors may wait for operational opportunities after the region between RMB 3490 and RMB 3430 is broken through.


In domestic market, soybean meal spot price in many regions decreased to RMB 3000 to RMB 3050 / ton. It is said that the national reserve of soybean will be switched, which will then increase the domestic supply of soybean. In short term, the market is relatively stable, waiting for upcoming news to guide the trend afterwards. Spot price of soybean is relatively stable after the Chinese Spring Festival, remaining above RMB 4100 / ton in many regions. Theoretically, the market price is underestimated. In terms of operations, soybean meals turn to be weak in short term. Short positions could be opened under this circumstance. As for No.1 soybean, investors are recommended to waiting for opportunities afterwards.
                                                                               Dong LV (Investment Certificate NO. TZ008452)