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データ基準日: 2026-10-31 · 決済基準: 取引所決済価格（北京時間15:00終値、前回決済比）
Generated: 2026-10-31 07:22:09 · Benchmark settle: 2026-10-30
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2026-10-31 China Futures Morning Report: Precious Metals Plummet Overnight, Shanghai Gold and Silver Both Break Below Pivot Points

1. Strong dollar and declining US manufacturing PMI expectations prompt long liquidation in precious metals -> Shanghai gold overnight close at 831.5, breaking below the next pivot S1 at 850.61, targeting the 20-day low of 854.72; a recovery back above R1 at 863.85 would invalidate the bearish outlook.
2. Silver sentiment enters the fear zone with significant main position outflow -> short positions in Shanghai silver actively increase -> Shanghai silver overnight close at 11533, breaking below the next pivot S1 at 11894.33, targeting the 20-day low of 12057; a recovery back above R1 at 12454.33 would invalidate the bearish outlook.
3. Oil geopolitical premium and energy sector overnight rally -> active long additions in the chemical chain -> Methanol overnight close at 3597, stabilizing above the next pivot R1 at 3560, targeting the 20-day high of 3558; a break below S1 at 3398 would signal a weakening trend.