金银期货价格持续走高 机构提示长假持仓风险

Group 1 - Since late August, geopolitical risks and expectations of interest rate cuts by the Federal Reserve have driven a continuous rise in gold and silver futures prices, with gold prices reaching historical highs and silver prices approaching historical peaks [1] - As of September 24, the main gold futures contract on the Shanghai Futures Exchange closed at 860 CNY per gram, up 1.03%, marking a new historical high, while the main silver futures contract closed at 10,397 CNY per kilogram, up 0.83%, also reaching a new high since its listing [1] - The Federal Reserve's expected interest rate cuts and ongoing geopolitical tensions, particularly in the Middle East, are key drivers for gold and silver prices, alongside strong demand from global central banks and industrial applications for silver [1][2] Group 2 - Despite high gold prices, central banks globally continue to maintain a net buying stance, with a net increase of 10 tons in official gold reserves, although the pace has slowed compared to previous months [2] - In August, global physical gold ETFs saw inflows of 5.5 billion USD, marking three consecutive months of inflows, with North American and European funds leading the growth [2] - Analysts suggest that while the long-term outlook for precious metals remains bullish, short-term adjustments may occur due to the upcoming National Day holiday in China, with recommendations for investors to hold light positions during the holiday [3]