贵金属期现日报-20260105

Group 1: Investment Ratings - No investment ratings provided in the report Group 2: Core Views - Gold's price has corrected on the chart. In January, precious metals are expected to maintain high volatility due to uncertainties such as the impact of US economic data on Fed policies and geopolitical situations in South America. It is recommended to pay attention to volatility changes and for long - position investors to buy at low prices [1] - For silver, there may be a correction risk due to potential passive selling from the global commodity index rebalancing in the short term. In a high - volatility market, it is advisable to keep a light long - position and use options to lock in profits [1] - The trends of platinum and palladium may gradually stabilize. With the strong performance of the outer - market, the price center of platinum is gradually rising, and a low - buying strategy is recommended. Palladium's fundamentals are relatively weaker and it tends to follow the market. The platinum - palladium ratio is expected to rise further, and investors can choose the right time for hedging arbitrage [1] Group 3: Market Data Summaries Domestic Futures Closing Prices - AU2602 contract closed at 977.56 yuan/gram on December 31, down 0.74% from the previous day [1] - AG2602 contract closed at 17,074 yuan/kilogram on December 31, down 5.88% from the previous day [1] - PT2606 contract closed at 527.25 yuan/gram on December 31, down 10.61% from the previous day [1] - PD2606 contract closed at 425.20 yuan/gram on December 31, down 4.97% from the previous day [1] Foreign Futures Closing Prices - COMEX gold主力 contract closed at 4341.90 on January 2, up 0.23% from December 31 [1] - COMEX silver主力 contract closed at 72.27 on January 2, up 1.81% from December 31 [1] - NYMEX platinum主力 contract closed at 2161.80 dollars/ounce on January 2, up 4.43% from December 31 [1] - NYMEX palladium主力 contract closed at 1695.50 on January 2, up 2.08% from December 31 [1] Spot Prices - London gold was at 4332.51 on the current day, up 0.33% from the previous day [1] - London silver was at 72.82 on the current day, up 1.74% from the previous day [1] - Spot platinum was at 2132.00 dollars/ounce on the current day, down 4.22% from the previous day [1] - Spot palladium was at 1641.00 on the current day, down 1.14% from the previous day [1] - Shanghai Gold Exchange's gold T + D was at 974.39 yuan/gram on the current day, down 0.80% from the previous day [1] - Shanghai Gold Exchange's silver T + D was at 17,059 yuan/kilogram on the current day, down 5.85% from the previous day [1] - Shanghai Gold Exchange's platinum 9995 was at 512 yuan/gram on the current day, down 9.49% from the previous day [1] Basis - The basis of gold TD - Shanghai gold主力 was - 3.17, with a historical 1 - year quantile of 46.10% [1] - The basis of silver TD - Shanghai silver主力 was - 15, with a historical 1 - year quantile of 60.60% [1] - The basis of London gold - COMEX gold was - 0.39, with a historical 1 - year quantile of 77.40% [1] - The basis of London silver - COMEX silver was 0.56, with a historical 1 - year quantile of 97.00% [1] Ratios - COMEX gold/silver ratio was 60.08, down 1.56% from the previous day [1] - Shanghai Futures Exchange's gold/silver ratio was 57.25, up 5.46% from the previous day [1] - NYMEX platinum/silver ratio was 1.28, up 2.31% from the previous day [1] - Guangzhou Futures Exchange's platinum/palladium ratio was 1.24, down 5.94% from the previous day [1] Interest Rates and Exchange Rates - 10 - year US Treasury yield was 4.19%, up 0.2% from the previous day [1] - 2 - year US Treasury yield was 3.47%, unchanged from the previous day [1] - 10 - year TIPS Treasury yield was 1.94%, up 0.5% from the previous day [1] - US dollar index was 98.46, up 0.21% from the previous day [1] - Offshore RMB exchange rate was 6.9699, down 0.15% from the previous day [1] Inventory and Positions - Shanghai Futures Exchange's gold inventory was 97,704, unchanged from the previous day [1] - Shanghai Futures Exchange's silver inventory was 691,638 kilograms, down 8.48% from the previous day [1] - COMEX gold inventory was 36,402,970, up 0.41% from the previous day [1] - COMEX silver inventory was 449,773,368, up 0.08% from the previous day [1] - COMEX gold registered warehouse receipts were 19,361,515, unchanged from the previous day [1] - COMEX silver registered warehouse receipts were 127,264,198, down 0.70% from the previous day [1] - SPRD gold ETF position was 1065, down 0.51% from the previous day [1] - SLV silver ETF position was 16,444, unchanged from the previous day [1]