铂钯期货双双涨停，近一周均拉升近30%，明日起交易所限仓

Core Viewpoint - The recent surge in platinum and palladium futures prices is primarily driven by supply constraints and strong market sentiment, with both metals reaching historical highs [1][5]. Group 1: Price Movements - Platinum futures (PT2606) have increased by 28.49% to 568.45 CNY/gram, while palladium futures (PD2606) have risen by 30.56% to 508.45 CNY/gram since their listing on November 27 [1]. - The main contracts for platinum and palladium futures saw a significant price increase of 7% on the same day, indicating strong market activity [1]. Group 2: Market Dynamics - The market sentiment has been influenced by the upcoming nomination of a new Federal Reserve chairman, which has heightened expectations for interest rate cuts due to weak U.S. non-farm payroll data [5][6]. - The unemployment rate in the U.S. rose to 4.6% in November, the highest since September 2021, contributing to the bullish outlook for precious metals [6]. Group 3: Supply and Demand Factors - The supply of platinum is tightening, particularly due to risks associated with electricity supply and extreme weather in South Africa, the main supplier of platinum group metals [6]. - Palladium supply is also under pressure due to geopolitical issues in Russia, where the U.S. Department of Commerce is investigating imports of unrefined palladium [6]. Group 4: Trading Volume and Regulations - Trading volumes for platinum and palladium futures reached new highs on December 19, with 149,400 and 106,800 contracts traded, respectively [7]. - The Guangzhou Futures Exchange has implemented new regulations limiting the daily opening positions for non-futures company members in platinum and palladium contracts to 500 lots [7].