Group 1: Report Overview - Report Title: Gold and Silver Futures Weekly Report [2] - Report Period: May 26 - May 30, 2025 [1] Group 2: Gold Futures 1. Mid - term Market Analysis - Mid - term Trend: The overall trend of Shanghai Gold futures is in an upward channel, possibly at the end of the trend [7] - Trend Logic: Last week's gold price increase was driven by a weakening US dollar, rising risk - aversion demand, differentiated macro - economic data, and changes in market expectations for Fed policies. In the short term, gold faces pressure from policy expectation adjustments and technical corrections. In the long term, geopolitical risks, central banks' shift to loose policies, and the acceleration of de - dollarization will support the upward movement of gold prices [7] - Mid - term Strategy: It is recommended to wait and see [8] 2. Variety Trading Strategy - Last Week's Strategy Review: Gold was under pressure at short - term highs, and it was recommended to wait and see. The support level for the main gold contract 2508 was 732 - 741, and the resistance level was 750 - 759 [10] - This Week's Strategy: It is recommended to allocate gold call options on dips. The support level for the main gold contract 2508 is 768 - 772, and the resistance level is 810 - 814 [11] 3. Relevant Data - Data includes the price trends of Shanghai Gold and COMEX gold, SPDR Gold ETF holdings, COMEX gold inventory, US 10 - year Treasury yields, US dollar index, US dollar against offshore RMB, gold - silver ratio, Shanghai Gold basis, and gold internal - external price difference [17][19][21] Group 3: Silver Futures 1. Mid - term Market Analysis - Mid - term Trend: The overall trend of Shanghai Silver futures is in a sideways consolidation, possibly in the middle of the trend [30] - Trend Logic: Affected by the US dollar index, geopolitical risks, and Fed policy expectations, silver's short - term volatility has increased. However, the medium - term supply - demand fundamentals support the price center. The continuous global silver supply - demand gap, China's stimulus plans, and growing industrial demand, along with the enhanced safe - haven property of silver due to geopolitical risks [30] - Mid - term Strategy: It is recommended to use a grid trading strategy. The expected operating range for the Shanghai Silver contract 2508 is 7000 - 8800 [30] 2. Variety Trading Strategy - Last Week's Strategy Review: It was expected that the silver contract 2508 would oscillate in a large range, and a grid trading strategy was recommended with the range of 7000 - 8800 [32] - This Week's Strategy: It is expected that the silver contract 2508 will oscillate in a large range, and a grid trading strategy is recommended with the range of 7000 - 8800 [32] 3. Relevant Data - Data includes the price trends of Shanghai Silver and COMEX silver, SLV Silver ETF holdings, COMEX silver inventory, Shanghai Silver basis, and silver internal - external price difference [41][43][45]
黄金、白银期货品种周报-20250526
Chang Cheng Qi Huo·2025-05-26 02:30