Group 1: Report Overview - Report Title: Gold, Silver Futures Weekly Report [2] - Report Period: August 25 - 29, 2025 [1] Group 2: Gold Futures 2.1 Mid - term Market Analysis - Mid - term Trend: The overall trend of Shanghai Gold futures is in a sideways phase, possibly at the beginning [7]. - Trend Logic: Last week, the gold price showed a volatile and weak trend, with weekly fluctuations between - 0.36% and 0.32%. It was mainly affected by the repeated expectations of the Fed's interest - rate cuts, the cooling of geopolitical risks suppressing short - term hedging demand, combined with the outflow of ETF funds and the increase in inventory [7]. - Next Week's Focus: Powell's speech at the Jackson Hole meeting, US economic data's impact on interest - rate cut expectations, and new changes in the geopolitical situation [7]. - Mid - term Strategy: It is recommended to wait and see [8]. 2.2 Variety Trading Strategy - Last Week's Strategy Review: The main gold contract 2510 was expected to move in a volatile manner. Grid trading was recommended in the range of 735 - 838 [11]. - This Week's Strategy: The main gold contract 2510 is expected to move in a volatile manner. Grid trading is recommended in the range of 760 - 800 [12]. 2.3 Related Data - Data includes Shanghai Gold and COMEX gold price trends, SPDR gold ETF holdings, COMEX gold inventory, US 10 - year Treasury yield, US dollar index, US dollar against offshore RMB, gold - silver ratio, Shanghai Gold basis, and gold internal - external price difference [19][21][23] Group 3: Silver Futures 3.1 Mid - term Market Analysis - Mid - term Trend: The overall trend of Shanghai Silver futures is steadily rising, currently at the end of the trend [32]. - Trend Logic: Last week, the silver price showed a "bottom - fishing and rebound" trend. It was mainly affected by the wavering expectations of the Fed's policies, with inventory decline providing bottom support, while weak industrial demand and technical break - outs triggering phased selling pressure [32]. - Next Week's Focus: Policy signals from the Jackson Hole Central Bank Annual Meeting, US non - farm data, and the implementation effect of domestic stimulus policies. The market may continue the volatile and slightly strong pattern [32]. - Mid - term Strategy: It is recommended to wait and see [33]. 3.2 Variety Trading Strategy - Last Week's Strategy Review: The silver contract 2510 was expected to be in high - level oscillation, with the lower support range at 8500 - 8800 and the upper pressure range at 9200 - 9500 [36]. - This Week's Strategy: The silver contract 2510 is expected to be in high - level oscillation, with the lower support range at 8500 - 8800 and the upper pressure range at 9200 - 9500 [37]. 3.3 Related Data - Data includes Shanghai Silver and COMEX silver price trends, SLV silver ETF holdings, COMEX silver inventory, Shanghai Silver basis, and silver internal - external price difference [45][48][50]
黄金、白银期货品种周报-20250825
Chang Cheng Qi Huo·2025-08-25 06:32