[Buy gold in pandemic] Dollar fell, gold pice rose 1.1% while the SPDR ETF holding increased 0.16% (with operational suggestions)

Spot gold rose 0.15% to $1,884.28 per ounce; gold price rose 1.1% on the previous trading day, the largest single-day increase since the end of August.

US gold futures rose 0.4% to $1,889.70.

Spot silver fell 0.1% to US$23.68 per ounce, platinum fell 0.2% to US$880.56, and palladium rose 0.5% to US$2,265.25.

Investors are currently watching Trump and former Vice President Biden’s first debate tonight, and there are currently five weeks away from the November 3 election.

At the same time, the market is worried that as more and more economic stimulus plans expire, consumer spending will be unfavorable and economic recovery will slow down. On Sunday, the Speaker of the U.S. House of Representatives Pelosi said that as negotiations continue, she believes that an agreement can be reached with the White House on a new round of the new crown rescue plan.

Operational recommendations (Source: Trading Central)

Pivot: 1872.00

Our preference: long positions above 1872.00 with targets at 1895.00 & 1906.00 in extension.

Alternative scenario: below 1872.00 look for further downside with 1861.00 & 1848.00 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:

1920.00

1906.00

1895.00

1885.25 Last

1872.00

1861.00

1848.00

Guideline for Trading Central strategy

Trend chart reading guideline

1. First look at the time period in the upper left corner of the chart：

・30MIN and 1H chart shows the trading suggestions for intraday

・Daily chart shows the market trend analysis in next 2-3 days

2. The blue horizontal line on the chart marks the pivot: pivot indicates the reversal of the market. When the price is above the pivot, it indicates an upward trend, when the price is below the pivot , it indicates a downward trend. When the price breaks through the pivot, the trend is reversed.

3. The red and blue thin curves in the Candlestick chart chart are technical indicators: Red line is  MA20+Bollinger bands, Blue line is MA50. under the Candlestick chart chart are also the technical indicators:  Blue line is RSI, Red line is 9MA;

4. The green horizontal line is the resistance level for a price increase, and is also the profit target for long orders; the red horizontal line is the support level for a price decrease, and is also the profit target for short orders.

How to use TC strategy？

1.[Pivot] is the reversal line of the market trend. When the price up the pivot line which means in Bullish, you can open a long position or Buy. on the contrary, when the price under pivot line which means in bearish. You ‘d better make short positions or Sell.

2. [our preference] is the main trading suggestion for your reference. You can exit your trading refer to this target or close positions before it.

3. [Alternative scenario] is the plan B for your reference.

4. [Comment] is the technical analysis of market trends and technical support for trading strategies.

5. [Supports and resistance] Supports are levels where the price tend to find support as it falls.

Resistances are levels where the price tend to find resistance as it rises. So, exit before the trend reverse.