1月20日早餐 | 贵金属再度走强

Market Overview - US stock market is closed; European stock indices fell over 1%, marking the largest decline in two months, with ASML down 4% and LVMH down over 4% [1] Technology Sector - Elon Musk aims to transform Tesla into a robotics company, projecting a valuation of $25 trillion [2] - OpenAI's CFO revealed that by 2025, computing power will reach 1.9GW, with annual revenue exceeding $20 billion for the first time, aiming for a tenfold revenue increase and a 9.5-fold increase in computing power within three years [2] - Apple’s iPhone 18 Pro series is expected to be the first smartphone supporting 5G satellite communication [2] Automotive Industry - Germany has reinstated subsidies for electric vehicle purchases [2] - He Xiaopeng announced the successful launch of the first robot developed using automotive standards, the ET1 version [7] Precious Metals - COMEX gold futures rose by 1.77%, closing at $4,676.70 per ounce; COMEX silver futures increased by 6.49%, closing at $94.280 per ounce; spot platinum rose by 1.55% to $2,377.09 per ounce; spot palladium increased by 2.13% to $1,841.80 per ounce [2] Economic Indicators - China's economy achieved a GDP growth target of 5% for 2025; December retail sales growth slowed to 0.9%, while industrial output increased by 5.2% year-on-year; fixed asset investment fell by 3.8%, and real estate development investment dropped by 17.2% [6] Investment Strategies - Everbright Securities noted a slight increase in the Shanghai Composite Index, indicating initial signs of stabilization, with expectations for a volatile market ahead [8] - The tourism market is heating up ahead of the "longest Spring Festival holiday," with flight bookings from university students up over 20% year-on-year, and cross-border travel demand surging with a nearly 40% increase in outbound service bookings [11] Industry Trends - Resonac, a Japanese semiconductor materials manufacturer, announced a price increase of over 30% for copper foil substrates and adhesive films starting March 1 due to tight supply and soaring prices of raw materials [9] - The tungsten market is entering a potential multi-year upcycle, with significant price increases reported for various tungsten products [12]