This report is provided by MacroTerms.com
Data as of: 2026-10-16 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
Shanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Rebound on Reduced Open Interest Awaits Confirmation | 2026-10-17
Direction is slightly bullish. Shanghai Gold 2612 settled at 898.8 yuan/gram on [10-16 settlement], with the day session closing at 901.82 yuan/gram, +1.36% versus the previous settlement, but the main contract saw open interest fall by 621 lots and notional open interest drop to 20.107 billion yuan, indicating short covering rather than active long buying; the top 20 seats held a net long of 168,988 lots, up 9,557 lots from the prior day, with long positions of 230,505 lots versus short positions of 61,517 lots, so seat structure remains slightly bullish. Technically, price sits at the 27.1% percentile of the 20-day channel, with a 20-day change of -5.78%, so the rebound has not yet reversed the medium-term downtrend; the night session closed at 898.62 yuan/gram, -0.35% versus the day session, showing resistance near 901.42 (R1) remains effective. Internationally, GC=F settled at 4,181.1 USD/ounce on [10-16 settlement], +0.26%, with China tax-adjusted premium at +0.35%, so domestic and external directions are aligned. Direction invalidation conditions: daily close below 883.8 (S1), targeting 869.0; or a firm hold above 901.42 (R1), targeting 914.0.
This brief is published in Chinese. The English translation is being prepared.
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