SMM News: [outer disk, news] overnight, COMEX gold closed at 1911.9, up 0.15%, and the daily line closed at Cross Xiaoyang, showing a horizontal trend above the 20-day moving average. Continue to pay attention to whether the 60-day moving average and high connection pressure since August 18 can break through, support 1900, pressure 1930. COMEX Bank closed at 24.805, up 1.10%, the Japanese line Xiaoyang is stable, but did not get rid of the adjustment pattern, support 24.0, pressure 25.3.
News side: House Speaker Nancy Pelosi said that progress has been made in the negotiations, a compromise stimulus package is being written, and some issues remain to be resolved. The total number of new housing starts in the United States in September was 1.415 million, with an estimated 1.457 million. The monthly rate of construction permits in the United States rose 5.2% in September and fell 0.5% in August.
[fund positions] Gold ETF positions 1269.93 tons, down 0.23% from the previous day; silver ETF positions 17455.09 tons, down 0.53% from the previous day.
[futures trend] on the domestic side last night, Shanghai gold fluctuated in a narrow range after opening, the daily line was narrow and horizontal for several days in a row, and the demand for short-term direction selection became stronger and stronger; Shanghai Bank opened slightly higher, held the 5-and 10-day moving average support, and the short-term was slightly stable, but the adjustment situation has not been effectively changed. Fundamentally, the overseas epidemic continues to spread, with the cumulative number of confirmed novel coronavirus cases worldwide exceeding 40 million; Europe and the UK continue to negotiate, and a spokesman for the British Prime Minister says an agreement must be reached by the end of the year; hopes of an agreement on the US stimulus package return, and the US dollar continues to fall to support gold and silver. Tomorrow (October 22) will usher in the third round of debate among US presidential candidates, focusing on the impact on market sentiment. AU2012 support 402, pressure 408 × AG2012 support 5150, pressure 5300, 5450.
[operating strategy] the medium-term rally of Shanghai gold is not bad, short-term narrow horizontal trading, pay attention to the choice of direction, AU2012 temporarily wait and see, break in any direction homeopathic follow-up; Shanghai silver medium-term rise is not bad, short-term concussion rebounded, AG2012 to 5150 for profit and loss protection, light positions short-long trading.
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