【黄金期货收评】俄乌局势虽现转机仍存变数 沪金涨0.76%

Core Viewpoint - The gold futures market is experiencing fluctuations influenced by geopolitical developments and macroeconomic factors, with a notable focus on the ongoing Russia-Ukraine negotiations and expectations of potential interest rate cuts by the Federal Reserve [1][2]. Group 1: Market Data - On November 28, the closing price for Shanghai gold futures was 953.92 yuan per gram, reflecting a daily increase of 0.76% with a trading volume of 189,713 lots and an open interest of 202,129 lots [1]. - The spot price of gold in Shanghai was reported at 948.49 yuan per gram, indicating a discount of 5.43 yuan per gram compared to the futures price [1]. Group 2: Institutional Insights - According to Galaxy Futures, the market sentiment was relatively subdued due to the absence of significant news and data during the U.S. Thanksgiving holiday, continuing the trend of a dovish shift from Federal Reserve officials and renewed bets on a potential rate cut in December [2]. - The weakening U.S. dollar, combined with the ongoing and complex negotiations regarding the Russia-Ukraine conflict, has led to gold and silver prices experiencing high-level fluctuations, with silver showing stronger performance than gold [2]. - The increase in silver ETF holdings and low global inventory levels, alongside elevated leasing rates around 5%, suggest a tight supply-demand situation in the overseas spot market [2].