Group 1 - The core viewpoint indicates that, as of January 6, all metals except gold and copper have seen a week-on-week increase in net long positions, with palladium contracts returning to net long after two weeks of net short positions [1] - The net long position for COMEX gold funds decreased by 2% to 386 tons, marking the lowest level in the past five weeks [1] - The sentiment towards copper is overly optimistic, as the short positions have dropped to the lowest level recorded since 2007, with a rebound of 7.3% in short positions and a 10.4% drop in long positions from three weeks ago [1] Group 2 - Silver is projected to increase by 147% by 2025, while the gold-silver ratio index fell by 5.4% to 56.411 last Friday, with a cumulative decline of 33.4% in 2025 and a cumulative increase of 9.1% in 2023 [1] - Market expectations for a Federal Reserve rate cut on January 28 have dropped to only 5%, with the likelihood of a cut in March falling from 49.5% to 29.9% over two weeks [1] - The employment market in the U.S. has shown signs of deterioration, with at least 11 months of downward revisions in new job additions, resulting in a total downward adjustment of 624,000 jobs [2]
欧洲天然资源基金：钯金合约升回基金净多头 市场对铜过分乐观
Zhi Tong Cai Jing·2026-01-14 07:44