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📅 2026-10-11 · COMEX黃金 · 單品種深度報告

本報告來自 MacroTerms.com

數據截止: 2026-10-09 · 結算口徑: 交易所最終日結算價

Gold (GC=F) Deep Dive | Bullish: 4216.3 Settle Holds Above Pivot 4202.03 | 2026-10-11

Bullish. COMEX December gold (GCZ26) settled at 4216.3 [settle 10-09], up 1.43% on the session and 1.3% over five sessions, holding above pivot P 4202.03; the call invalidates on a daily close below S1 4170.37. Three reasons: first, the 10-09 bar recovered the full 10-08 loss and closed near its high (H 4233.7 / L 4156.1), reclaiming the pivot after the 20-day drawdown of -4.37% left price at only the 36th percentile of the 4091.2–4439.8 channel — a mean-reversion setup, not a breakdown. Second, physical supply is inert: COMEX registered stock was flat at 15.07 Moz (468,730 kg) [as of 10-08] and SHFE warrants flat at 116,028 kg [as of 10-09], while GLD ETF holdings rose 0.24% over 20 sessions to 33,858,916 oz [10-09] — investment demand is absorbing metal without visible warehouse stress. Third, managed-money net length has fallen for four straight weeks (net 110,987 on 10-06, down from 133,116 on 09-15) even as price rebounded, a de-crowding that reduces forced-selling risk; netPct at 28.02% still sits at the 91st crowding percentile, so the trade is not yet washed out. Implied vol (GVZ 22.79, 1Y 12th percentile) exceeds RV20 17.9% by 4.9 points, so upside optionality is not expensive. Risk: DXY 102.21 and 10Y at 5.24% [10-09] cap momentum; a daily close below 4170.37 flips the view.

往期研報封存

2026-10-10:單品種Gold (GC=F) Deep Dive | Bullish Breakout Above 4202 | 2026-10-10 查看 2026-10-09:單品種舊覆蓋策略Gold (GC=F) Deep Dive | Bullish Mean Reversion Setup | 2026-10-09 查看 2026-10-08:單品種Gold (GC=F) Deep Dive | Bearish Bias | 2026-10-08 查看 2026-10-07:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-07 — Fading Crowded Longs Into Support, Tactical LONG | 2026-10-07 查看 2026-10-06:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-06 — Oversold Bounce Setup, LONG | 2026-10-06 查看 2026-10-05:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-05 — Selloff Exhausted at 20D Floor, Tactical Long | 2026-10-05 查看 2026-10-04:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-04 — Bearish, 4143.1 20-day floor in focus | 2026-10-04 查看 2026-10-03:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-03: Bearish While Below 4191.7 Pivot | 2026-10-03 查看 2026-10-02:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-02 — Bearish Below Pivot 4198, GCZ26 | 2026-10-02 查看 2026-10-01:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-10-01 — Long into 4,143 Support, Invalidation 4,132 | 2026-10-01 查看 2026-09-30:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-30 — Long-term bull intact, tactical LONG into 4143 support | 2026-09-30 查看 2026-09-29:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-29: High Rates, Strong USD Crush Gold | 2026-09-29 查看 2026-09-28:單品種舊覆蓋策略Gold Deep Dive | Crowded Longs Unwind Into 4300 Break | 2026-09-28 查看 2026-09-27:單品種舊覆蓋策略Gold (GC=F) Deep Dive | Bearish Bias | 2026-09-27 查看 2026-09-26:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-26: Corrective Consolidation Amid Crowded Longs | 2026-09-26 查看 2026-09-25:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-25 | Correction Tests 4260 Support as Real Yields Bite | 2026-09-25 查看 2026-09-24:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-24: Crowded Longs Meet Macro Crosswinds | 2026-09-24 查看 2026-09-23:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-23: Rangebound, Crowding Cools | 2026-09-23 查看 2026-09-22:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-22 | Consolidation Amid Crowded Longs | 2026-09-22 查看 2026-09-21:單品種舊覆蓋策略Gold (GC=F) Deep Dive | 2026-09-21 | Crowded Longs vs. Macro Crosscurrents | 2026-09-21 查看

⟠ 本月策略回測表現

每日早報 AI 觀點逐日跟蹤結算 · 止損/目標客觀撮合

* 回測基於日報交易觀點逐日結算:止損/目標先到為準,窗口末按收盤平倉。過往表現不代表未來收益。