铂：继续震荡，白银：窄幅波动

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - Platinum is expected to continue oscillating, while palladium is expected to fluctuate within a narrow range [1] Group 3: Summary Based on Related Catalogs Platinum and Palladium Fundamental Data - Price: Platinum futures 2606 closed at 442.30 with a 0.60% increase; the gold exchange platinum closed at 435.32 with a 0.26% increase; the New York platinum continuous contract closed at 1655.10 with a -0.32% decrease; the London spot platinum closed at 1635.00 with a -0.41% decrease. Palladium futures 2606 closed at 381.75 with a 0.66% increase; the RMB spot palladium closed at 355.00 with a -4.05% decrease; the New York palladium continuous contract closed at 1502.00 with a 1.25% increase; the London spot palladium closed at 1457.12 with a 0.07% increase [1] - Trading Volume and Open Interest: The trading volume of Guangzhou platinum was 25,037, an increase of 2,466 from the previous day, and the open interest was 65,408, an increase of 53,143. The trading volume of NYMEX platinum was 24,655, an increase of 1,820, and the open interest was 61,853, a decrease of 1,473. The trading volume of Guangzhou palladium was 4,728, a decrease of 4,841, and the open interest was 17,736, an increase of 14,369. The trading volume of NYMEX palladium was 3,606, a decrease of 788, and the open interest was 19,292, an increase of 85 [1] - ETF Holdings: The platinum ETF holdings (ounces) (previous day) were 3,124,461, an increase of 2,519. The palladium ETF holdings (ounces) (previous day) were 1,093,932, an increase of 16,431 [1] - Inventory: The NYMEX platinum inventory (ounces) (previous day) was 614,713, a decrease of 232. The NYMEX palladium inventory (ounces) (previous day) was 176,705, an increase of 4,315 [1] - Price Spreads: The spread of PT9995 to PT2606 was -6.98, an increase of 1.35 from the previous day. The spread of Guangzhou platinum 2606 contract to 2610 contract was -1.05, a decrease of 0.95. The cost of the inter - period arbitrage of buying Guangzhou platinum 2606 and selling 2610 was 5.51, an increase of 0.02. The spread of the gold exchange platinum to London platinum was 63.64, an increase of 11.38. The spread of the RMB spot palladium price to PD2606 was -27, a decrease of 0.25. The spread of Guangzhou palladium 2606 contract to 2610 contract was -0.25, an increase of 0.40. The cost of the inter - period arbitrage of buying Guangzhou palladium 2606 and selling 2610 was 4.79, unchanged. The spread of the RMB spot palladium to London palladium was 24, an increase of 0.67 [1] - Exchange Rates: The US dollar index was 98.98, a decrease of 0.08%. The US dollar to RMB (CNY spot) was 7.07, an increase of 0.02%. The US dollar to offshore RMB (CNH spot) was 7.07, an increase of 0.01%. The US dollar to RMB (6M forward) was 7.00, an increase of 0.22% [1] Macro and Industry News - The US September core PCE price index annual rate unexpectedly dropped to 2.8%, hitting a three - month low, while the market expected it to record 2.9% for the third consecutive month [4] - White House Economic Council Director Hassett stated that it was time for the Fed to cut interest rates prudently and that he had not discussed the Fed chairperson candidate with Trump [4] - Bessent said that the US would achieve 3% GDP growth by the end of this year [4] - Trump approved the production of small cars in the US [4] - Trump commented on the Supreme Court tariff case, saying that the US had other ways to impose tariffs, and the current method was much more direct [4] - Israeli Prime Minister Netanyahu refused to withdraw from politics in exchange for a pardon [4] - Hamas said it was willing to discuss the issue of disarmament within the framework of promoting the establishment of a Palestinian state [4] Trend Intensity - The trend intensity of platinum is 0, and that of palladium is 0. The trend intensity ranges from -2 to 2, with -2 being the most bearish and 2 being the most bullish [3]