M
MacroTerms
👑 Buy VIP Account
📰 Morning Brief 👤 Overview ⚙️ Settings 📒 Idea Book 🧾 Subscriptions & Orders 🎫 Support Tickets
📅 2026-10-17 · SHFE Gold · Single-name brief

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.

Previous briefs

2026-10-23:Single-nameShanghai Gold (AU2612) In-Depth Report | Bearish Bias: 20-Day Low Broken, Crowded Longs Retreat | 2026-10-23 View 2026-10-22:Single-nameShanghai Gold (AU2612) In-depth Analysis Report | Bearish bias: crowded positioning unwinds, below 890.06 look to 882.87 | 2026-10-22 View 2026-10-21:Single-nameShanghai Gold (AU2612) In-depth Report | Bearish: down 4.86% over 20 days, open interest crowding still at a three-year high | 2026-10-21 View 2026-10-20:Single-nameShanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Rising on Reduced Open Interest Awaits Confirmation, 906.75 Is Key | 2026-10-20 View 2026-10-19:Single-nameSHFE Gold (SHFE.AU) In-Depth Analysis Report | Bullish Bias | 2026-10-19 View 2026-10-18:Single-nameShanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Seat Net Longs Expand, Short-Covering Repair | 2026-10-18 View 2026-10-16:Single-nameShanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Night Session Reclaims Pivot, Premium Inversion Narrows | 2026-10-16 View 2026-10-15:Single-nameShanghai Gold (AU2612) In-Depth Report | Bearish Bias: Pressure at Lower Edge of 20-Day Channel | 2026-10-15 View 2026-10-14:Single-nameShanghai Gold (SHFE.AU) In-Depth Analysis Report | Bullish Bias: Resonance of Safe-Haven Demand and Relative-Value Advantage | 2026-10-14 View 2026-10-13:Single-nameShanghai Gold (AU2612) In-Depth Analysis Report | Slightly Bullish: Position-Increase Rebound at 20-Day Low | 2026-10-13 View 2026-10-12:Single-nameShanghai Gold (AU2612) In-depth Report | Bullish Bias: Rising Open Interest and Falling Gold/Silver Ratio | 2026-10-12 View 2026-10-11:Single-nameShanghai Gold (AU2612) In-Depth Analysis Report | High-Level Oscillation with Bullish Bias | 2026-10-11 View 2026-10-10:Single-nameSHFE Gold (SHFE.AU) In-Depth Analysis Report | Bullish: Night Session Breakout and Open Interest Increase in Resonance | 2026-10-10 View 2026-10-09:Single-nameLegacy coverageShanghai Gold (SHFE.AU) In-depth Analysis Report | Bullish Bias: Gold-to-Silver Ratio at Low Levels | 2026-10-09 View 2026-10-08:Single-nameLegacy coverageShanghai Gold (SHFE.AU) In-Depth Analysis Report | Bullish Bias: Short Covering and Low-Percentile Support | 2026-10-08 View 2026-10-01:Single-nameLegacy coverageShanghai Gold (SHFE.AU) In-depth Analysis Report | 2026-10-01 Moderately Bullish: Position-cut rebound叠加pre-holiday low volatility | 2026-10-01 View 2026-09-30:Single-nameLegacy coverageSHFE Gold (SHFE.AU) In-Depth Analysis Report | 2026-09-30 Breakdown Followed by Night Session Repair, Bearish | 2026-09-30 View 2026-09-29:Single-nameLegacy coverageSHFE Gold (SHFE.AU) In-Depth Analysis Report | 2026-09-29 Gold Price Loses 900 Level | 2026-09-29 View 2026-09-28:Single-nameLegacy coverageShanghai Gold In-Depth | Low-Volume Consolidation Above 20-Day Low of 923.3 and COT Net Longs Falling for Consecutive Weeks | 2026-09-28 View 2026-09-27:Single-nameLegacy coverageShanghai Gold Deep Dive | Defense of the 20-Day Low at 923.3 and COT Crowding Pullback | 2026-09-27 View

⟠ This month's strategy backtest

Daily AI brief ideas settled day-by-day with objective stop/target matching

* Backtest settles each daily trade idea: stop/target whichever first, flat at close when window ends. Past performance does not predict future results.