Group 1: Gold Market Performance - On October 28, the Shanghai gold futures contract reported a price of 901.68 CNY per gram, reflecting a decline of 4.16% from the opening price of 926.92 CNY per gram, with a high of 928.56 CNY and a low of 901.10 CNY [1] Group 2: Macroeconomic News - The Chinese Foreign Ministry stated that China and the U.S. have agreed to further clarify specific details regarding trade negotiations, with a potential meeting between the two countries' leaders in South Korea [1] - Ukrainian President Zelensky announced that Ukraine and its allies have agreed to formulate a ceasefire plan within the next seven to ten days, while seeking advanced missile systems from the U.S. to pressure Russia into negotiations [1] - The probability of a 25 basis point rate cut by the Federal Reserve in October stands at 97.3%, with a 95.3% probability of a cumulative 50 basis point cut by December [1] Group 3: Institutional Perspectives on Gold and Silver - The long-term logic for gold's financial and monetary attributes remains clear, with a potential recovery in market risk appetite due to the easing of U.S.-China tensions. Short-term gold prices are in a corrective phase, with a focus on confirming a new bottom after volatility returns to normal levels [1] - For silver, the long-term logic regarding its commodity, financial, and monetary attributes is also clear. Silver is following gold into a corrective phase, with recommendations to hold existing long positions and consider new positions if prices fall below 11,000 CNY [2]
兴业期货：中美关系缓和 贵金属阶段性回调休整阶段
Jin Tou Wang·2025-10-29 02:07