贵金属日评：美国财政与投资扩张预期或支撑贵金属价格-20251014

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core View The expectation of US fiscal and investment expansion, combined with factors such as the weakening US employment market, the ongoing shutdown crisis of the US federal government, the expansion of fiscal deficits in multiple countries, and geopolitical risks, will support precious metal prices in the medium to long term [1]. 3. Summary by Related Catalogs Market Data - Gold: Shanghai gold's closing price was 897.74 yuan/g, with a trading volume of 63,730. The inventory was 70,728 kilograms. International gold's COMEX futures active - contract closing price was 3,912.10 dollars/ounce, with a trading volume of 296,956 and a position of 379,094. The London gold spot price was 4,095.95 dollars/ounce [1]. - Silver: Shanghai silver's closing price was 11,531 yuan/ten - grams, with a trading volume of 1,701,266. International silver's COMEX futures active - contract closing price was 47.52 dollars/ounce, with a trading volume of 132,137 and a position of 131,902. The London silver spot price was 51.24 dollars/ounce [1]. - Other Commodities: INE crude oil was 479.70 yuan/barrel, ICE Brent oil was 63.39 dollars/barrel, NYMEX crude oil was 58.24 dollars/barrel, Shanghai copper futures were 85,120 yuan/ton, and LME spot copper was 10,802 dollars/ton [1]. - Stock Indexes: The Shanghai Composite Index was 3,862.5317, the S&P 500 was 6,654.7200, the UK FTSE 100 was 9,442.8700, and the French CAC40 was 7,934.2600 [1]. Important Information - The US Treasury Secretary plans to adjust the payment order to ensure the military payroll during the government shutdown [1]. - The US Department of Defense plans to spend 1 billion dollars to accelerate the purchase of critical minerals, and JPMorgan Chase announced a 1.5 - trillion - dollar US investment plan over ten years [1]. Trading Strategy Investors are advised to mainly build long positions after price corrections. For London gold, pay attention to the support level around 3,400 - 3,500 and the resistance level around 4,065 - 4,381; for Shanghai gold, the support level is around 790 - 810 and the resistance level is around 940 - 1,010. For London silver, the support level is around 30 - 37 and the resistance level is around 50 - 57; for Shanghai silver, the support level is around 7,200 - 8,500 and the resistance level is around 13,000 - 14,800 [1].