铂、钯价格持续回落 原因是？

Core Viewpoint - The recent decline in platinum and palladium futures prices is seen as a correction following a previous rapid increase, with significant profit-taking pressure from long positions [3]. Group 1: Price Movements - As of December 31, platinum futures (main contract 2606) fell by 10.25% to 538 CNY per gram, while palladium futures (main contract 2606) dropped by 9.6% to 405.7 CNY per gram, returning to the price range seen on their listing day [2]. - NYMEX platinum futures approached 2007 USD per ounce, and NYMEX palladium futures neared 1556 USD per ounce [2]. Group 2: Market Analysis - Analysts attribute the price drop to a lack of new bullish drivers, with traders adopting a wait-and-see approach amid sufficient expectations for Federal Reserve rate cuts and a weaker dollar [3]. - The driving factors for platinum and palladium prices have shifted from macroeconomic narratives to liquidity and physical shortages [3]. - There is a divergence within the Federal Reserve regarding the path of interest rate cuts, which may weaken expectations for monetary easing [3]. Group 3: Future Outlook - Analysts suggest that platinum's financial attributes provide a hedge against inflation, with a significant supply gap in the industrial sector, indicating potential price increases in the medium to long term [3][4]. - Palladium's fundamentals appear weaker, with ongoing investigations into unrefined palladium imports from Russia potentially tightening supply temporarily, but overall fundamentals may exert downward pressure on prices in the long run [4][5].