期货收评：沪银涨2%，沪锡、SC原油、菜油、铁矿石涨1%；集运欧线、鸡蛋跌3%，红枣跌2%焦煤、焦炭、玻璃跌1%

Market Performance - Domestic futures main contracts showed mixed results on November 12, 2025, with silver rising over 2% and other commodities like tin, butadiene rubber, SC crude oil, rapeseed oil, low-sulfur fuel oil, and iron ore increasing by more than 1% [2] - On the downside, shipping European routes and eggs fell over 3%, while red dates dropped more than 2%, and coking coal, coke, and glass decreased by over 1% [2] Employment Data Impact - The U.S. ADP employment report indicated a decrease of 45,000 jobs in October, marking the largest decline in two and a half years, which has raised expectations for a Federal Reserve interest rate cut [3] - Following the employment data release, gold prices experienced a rebound, influenced by the market's adjustment to the anticipated reopening of the U.S. government [3] Geopolitical Context - Russian Foreign Minister Lavrov stated that bilateral dialogue between Russia and the U.S. continues, but progress is slower than expected [3] - Domestic gold policy changes have sparked market discussions, leading to a significant increase in domestic gold jewelry prices, which may suppress short-term demand for gold jewelry among consumers [3]