Gold and silver continued to fall on Monday (21st). Although gold has broken through the $1,950 level several times today, it continued to fall in the evening due to heavy selling pressure. Earlier reports pointed out that gold and silver unexpectedly weakened when European stocks were in dismal green and risk aversion sentiment rose.

　　In fact, in the medium term, gold is also facing greater downside risks.

　　Analyst Adam Hamilton said that since the beginning of August, gold has been consolidating at a high level. The 6-week sideways consolidation has cooled the overbought situation in the gold market, but this phenomenon still exists. As the remaining overbought phenomenon is still serious, gold Facing huge downside risks.

　　In previous gold bull markets, gold prices will reach new highs in September, but then there will be a wave of seasonal selling. According to past experience, from late September to late October, gold fell by an average of 1.9%. This is the largest seasonal decline in gold in a year. Gold generally undergoes seasonal corrections in mid-March and early June. Respectively fell 1.4% and 1.2% on average.

　　On the news, Trump is holding a press conference. He expressed his hope that the final vote on the candidates for the Supreme Court will be held before the general election, and he hopes to confirm the right to vote for the Supreme Court before the general election on November 3. The candidate is from Michigan.

　　Investors are mainly worried that the epidemic in Europe will become more severe and economic recovery will be doubtful in the prospect of re-implementing the blockade policies in many countries. At the same time, there is little hope for the rapid implementation of a new round of stimulus policies in the United States, further stimulating risk aversion in the market.

　　Sir Patrick Valence, the chief scientific adviser to the British government, said that the number of new coronavirus infections is doubling "about every 7 days." He claimed that the government's model indicates that by mid-October, there will be about 50,000 new cases per day. . By mid-November, 200 people will die every day. British Prime Minister Johnson will hold an emergency cobra meeting on Tuesday, and then issue a statement on the next steps to deal with the new crown epidemic.