SMM Network News: [outer disk, news] overnight, international gold and silver fell moderately in the dreary future. COMEX gold closed at 1879.6, down 1.69%. The daily average line broke the horizontal market in the past few days, and the daily average and MACD expanded downwardly. the technical form obviously weakened, supporting 1852, and the pressure was 1900. COMEX silver closed at 23.460, down 4.28%, the daily line under the overcast broke the concussion channel for nearly a month, the short-term daily moving average and MACD hook down again, technically there are signs of downward adjustment, support 22.5, pressure 24.2.
News side: the development of the epidemic has prompted Europe to impose new blockade measures: the German Chancellor hopes that local government heads will agree to close all restaurants and bars from November 4; French President Macron announced that due to the surge in COVID-19 cases, a new nationwide blockade will be imposed in France from Friday; the British prime minister is under pressure to take blockade measures. The Bank of Canada left interest rates unchanged but lowered its neutral range.
[fund position] Gold ETF held 1258.25 tons, down 0.67% from the previous day, while silver ETF held 17368.29 tons, unchanged from the previous day.
[futures trend] on the domestic side last night, Shanghai gold opened low and fell down, technically breaking the recent horizontal market again, and also broke the support of the integer 400. the daily average line dipped down, the MACD red column was shortened, and the short-term form became weaker; Shanghai silver continued to explore after opening low, and then the decline narrowed slightly, and the daily online futures price completely returned below the daily average line, 5-10 days down, the MACD red column shortened, the short-term shape was weak, but the downside space was cautious for the time being. Fundamentally, the epidemic situation of novel coronavirus overseas continued to deteriorate, and a new round of blockade measures were implemented by many European countries, causing market panic, overseas stock markets tumbled, and the US dollar rose moderately supported by risk aversion. Under the dual pressure of market sentiment and the dollar, gold and silver fundamentals turned short in the short term, and gold ETF positions also showed the biggest decline in nearly a month. Given the cautious mentality of the market in the United States before the election, it is also necessary to be cautious about the continued action of gold and silver. AU2012 supports 393, pressure 402. AG2012 supports 4850, pressure 5070.
[operating strategy] the medium-term rally of Shanghai gold is not bad, the short-term concussion is down, the AU2012 is only 402 short-term, but in pursuit of short-term; the medium-term rise of Shanghai silver is not bad, short-term concussion goes down, AG2012 light air is set to stop surplus protection, and the short-term trading of those without positions is dominated by short-term trading.
