Market trend: On December 10, the main Shanghai gold contract 2102 fluctuated and declined. The intraday trading was at 388.08-382.38 yuan/g, and the closing price was 383.26 yuan/g, down 0.97% from the previous day's closing price. The trading volume was 129,000 Hand, a daily increase of 11257 hands; 62,000 positions, a daily increase of 883 hands; Shanghai Bank's main 2102 contract also fluctuated and fell, closing at 4979 yuan/kg in late trading, down 2.03% from the previous day's closing price.

Market focus: (1) The U.S. dollar index in Asia rose slightly and is currently trading at 91.049, up 0.02%. (2) The Brexit negotiations continue, and the deadline for negotiations is extended to Sunday. Senior EU officials said that there are still big differences with the United Kingdom. (3) The Republican leaders in the U.S. Senate claimed that the Democrats poured cold water on the stimulus plan, and U.S. stocks fell sharply.

Internal positions: Shanghai Gold's main 2102 contract top 20 long positions 29,835 hands, short positions 17,839 hands, net long positions 11996 hands, daily decrease of 435 hands, short Masukura is greater than long. The top 20 long positions in the Shanghai Bank 2102 contract were 143,606 hands, short positions were 126,077 hands, net long positions were 17,529 hands, and a daily increase of 3215 hands. Long positions lightened more than short positions.

External positions: As of December 9, SPDR Gold Trust gold ETF holdings amounted to 1,179.78 tons, which was flat for three consecutive days. At the same time, Shares Silver Trust silver ETF holdings amounted to 17,145.29 tons, which was unchanged from the previous trading day.

Market research and judgment: On December 10, the precious metals in Shanghai stock market fluctuated and declined, and the bullish atmosphere weakened. During the US Senate Republican leaders said that the Democratic Party poured cold water on the stimulus plan, and the US economic stimulus plan, which has recently boosted the rebound in gold and silver, has been delayed again. At the same time, the uncertainty of Brexit still exists, dragging the euro down, the US dollar index slightly higher, and vaccine optimism all put pressure on gold and silver. Technically, the main daily KDJ indicator of gold and silver turned down. Below the Shanghai gold, the 10-day moving average support can be paid attention to, while the Shanghai silver has no obvious support for the time being. In terms of operation, it is recommended that the main force of Shanghai Gold temporarily wait and see, and the main force of Shanghai Bank can be backed up under 5,000 yuan/kg. The stop loss refers to 5,050 yuan/kg.

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