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Gold and Silver Lighten up Shocks, Short-Term Operation
November 12 2020 08:55:30Ruida Futures(Linda)

Market trend: Today, Shanghai Gold's main 2012 contract opened low and fluctuated. The intraday trading was at 396.2-394.2 yuan/g, and it closed at 395.64 yuan/g in late trading, down 0.23% from the previous day's closing price. The trading volume was 105,000 lots, A decrease of 153,000 lots; a position of 109,000 lots, a daily decrease of 4101 lots; Shanghai Bank's main 2012 contract stopped falling and rose slightly, closing at 5107 yuan/kg in late trading, an increase of 0.77% from the previous day's closing price.

Market focus: The US dollar index in the Asian market first declined and then rose, and is currently trading at 92.731, a slight decline of 0.05%. Federal Reserve officials said that the new crown epidemic threatened economic performance in the next two quarters and called for increased fiscal stimulus. However, Senate Republican leader McConnell said the two parties still have differences on the scale of the stimulus case.

Domestic positions: The top 20 long positions of Shanghai Gold's main 2012 contract were 56448 hands, 17389 short positions, 39059 net long positions, a daily decrease of 5,321 hands, and long short positions increased. The top 20 Shanghai Bank 2012 contracts have a long position of 150,966 hands, a short position of 109,201 hands, a net long position of 41,765 hands, and a daily decrease of 5768 hands. The long position lightening is greater than the short position.

External positions: As of November 10, SPDR Gold Trust gold ETF holdings amounted to 1,249.79 tons, which was the same as yesterday. At the same time, Shares Silver Trust's silver ETF holdings amounted to 1,7799.1 tons, a daily decrease of 112.81 tons, ending two consecutive increases, indicating that the bullish atmosphere has weakened.

Market research and judgment: On November 11, the Shanghai stock market's precious metals trend diverged. Among them, Shanghai gold opened lower and fluctuated, Shanghai silver stopped falling and rose slightly, and long-short trading was cautious. During the period, market news was light. Earlier, the good news about the US presidential election and vaccines had been digested, the stock market weakened at high levels, and the slightly weaker US dollar index partially supported precious metals. The current overseas epidemic continues, but the vaccine is progressing well, and we need to pay attention to the fiscal stimulus plan brought after the US presidential election. Technically, the gold and silver daily KDJ indicator crossed downward, but the hourly MACD green column turned to red column. Operationally, it is recommended that the main force of Shanghai Gold can sell high and buy low between 497-394 yuan/gram, with a stop loss of 1.5 yuan/gram each. Shanghai Bank can sell high and buy low between 5,000-5,200 yuan/kg, and stop loss 100 yuan/kg each.

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