Report Industry Investment Rating No information provided. Core Viewpoints of the Report - Gold prices recovered losses and reached new highs due to tariff concerns and a recovery in risk - appetite. The upward trend of gold prices remains unchanged due to tariff concerns and interest - rate cut expectations. - Silver prices saw a significant increase and reached a record high. The upward trend of silver prices remains unchanged, with the influence of tariff concerns and interest - rate cut expectations. [4][6] Summary by Directory 1. Previous Day's Review - For gold, the tech - stocks supported the rebound of US stocks, tariff concerns eased, but gold prices still rose. US and European stock markets rose, US bond yields fell, the US dollar index rose, and COMEX gold futures rose 3.24% to $4130 per ounce. - For silver, the tech - stocks supported the rebound of US stocks, and silver prices increased significantly. US and European stock markets rose, US bond yields fell, the US dollar index rose, and COMEX silver futures rose 7.47% to $50.775 per ounce. [4][6] 2. Daily Tips - Gold: The basis is - 3.25, with the spot at a discount to the futures; the inventory of gold futures is 70728 kilograms and remains unchanged; the 20 - day moving average is upward, and the K - line is above the 20 - day moving average; the main net position is long, and the main long position is decreasing. - Silver: The basis is - 62, with the spot at a discount to the futures; the inventory of Shanghai silver futures decreased by 17785 kilograms to 1169061 kilograms; the 20 - day moving average is upward, and the K - line is above the 20 - day moving average; the main net position is long, and the main long position is increasing. [5][6] 3. Today's Focus - Today, pay attention to the intensive speeches of the Fed Chairman and ECB members, the Eurozone's October ZEW economic sentiment index, and the UK unemployment rate. Also, there are various economic data releases and official speeches throughout the day, such as the release of the Singapore Monetary Authority's monetary policy statement, the minutes of the RBA's September monetary policy meeting, etc. [4][15] 4. Fundamental Data - Gold: The upward trend of gold prices remains unchanged due to tariff concerns and interest - rate cut expectations. The Shanghai gold premium is maintained at - 9.6 yuan/gram. - Silver: The upward trend of silver prices remains unchanged. The Shanghai silver premium has significantly expanded to - 290 yuan/gram, and the sentiment of domestic silver prices has clearly recovered. [4][6] 5. Position Data - Gold: On October 13, 2025, the long - order volume was 220,070, an increase of 1.45% compared to the previous day; the short - order volume was 78,569, an increase of 0.74%; the net position was 141,501, an increase of 1.84%. - Silver: On October 13, 2025, the long - order volume was 368,167, an increase of 7.22% compared to October 10; the short - order volume was 268,339, an increase of 7.57%; the net position was 99,828, an increase of 6.27%. [31][34]
贵金属早报-20251014
Da Yue Qi Huo·2025-10-14 02:31