Workflow
五矿期货贵金属日报-2025-04-07
Wu Kuang Qi Huo·2025-04-07 01:39

Group 1: Industry Investment Rating - No information provided Group 2: Core Views - During the Tomb-Sweeping Festival holiday, overseas precious metal prices dropped significantly. From 15:00 on April 3 to 7:00 this morning on April 7, the price of the COMEX gold main contract fell 3.75% to $3033.1 per ounce, and the London gold price fell 3.71% to $3011.74 per ounce. The price of the COMEX silver main contract fell 13.7% to $28.8 per ounce, and the London silver price fell 12.87% to $28.93 per ounce [2]. - The decline in precious metal prices was mainly affected by two factors. Firstly, the Trump administration announced the implementation of "reciprocal tariffs", but gold and silver were not on the list, ending the previous market's expected trading on potential US tariffs. Secondly, after Powell's speech on Friday, US stocks and precious metal prices further declined, and the Fed's monetary policy is expected to remain hawkish. In the short term, precious metal prices, especially silver, still have room to fall [3][4]. Group 3: Summary by Related Catalogs Price Changes - COMEX gold main contract price fell 3.75% to $3033.1 per ounce, London gold price fell 3.71% to $3011.74 per ounce. COMEX silver main contract price fell 13.7% to $28.8 per ounce, London silver price fell 12.87% to $28.93 per ounce [2]. - Au(T+D) price rose 0.98% to 738.97 yuan/gram, Ag(T+D) price fell 1.47% to 8263 yuan/kg. London gold price fell 2.04% to $3054.5 per ounce, London silver price fell 3.49% to $31.34 per ounce [5]. Factors Affecting Price Changes - The end of the previous market's expected trading on potential US tariffs due to the "reciprocal tariffs" policy and the subsequent exemption list [3]. - The Fed's hawkish monetary policy stance and the slowdown of tariff trading [4]. Market Expectations - In the short term, precious metal prices, especially silver, still have room to fall. The Shanghai silver main contract is expected to open at the limit - down price today, with a reference opening price of 7535 yuan/kg. The Shanghai gold main contract is expected to operate in the range of 694 - 720 yuan/gram [4].