黄金成全球规模最大的储备资产

Report Industry Investment Rating No relevant content provided. Core View of the Report The report covers various sectors including finance, energy, metals, black commodities, agriculture, and shipping. It provides analysis and forecasts on the market trends of different varieties, suggesting potential investment opportunities and risks in the market. For example, it anticipates a long - term upward trend for precious metals, a short - term strong performance for lithium carbonate, and an overall positive outlook for A - shares [2][3][11]. Summary by Directory 1.当日主要新闻关注 (Main News Focus of the Day) - International News: US President Trump announced to buy $200 billion in mortgage - backed securities through Fannie Mae and Freddie Mac, aiming to lower mortgage rates. The US Senate passed a resolution restricting Trump's military action against a South American country without congressional authorization. The US initial jobless claims rose to 208,000 last week, slightly below market expectations [6][14]. - Domestic News: The Political Bureau Standing Committee of the CPC Central Committee held a meeting, emphasizing the importance of Party leadership in the "15th Five - Year Plan" period. China National Petroleum & Chemical Corporation and China National Aviation Fuel Group were approved to implement a restructuring [7][8]. - Industry News: The State - owned Assets Supervision and Administration Commission of the State Council plans to promote strategic and professional restructuring and high - quality mergers and acquisitions in 2026, with potential acceleration in new energy, energy conservation, environmental protection, and construction sectors [8][9]. 2.外盘每日收益情况 (Daily Returns of Overseas Markets) - The S&P 500 rose 0.01%, the European STOXX 50 fell 0.14%, and the Chinese A50 futures dropped 1.06%. ICE Brent crude oil increased 3.83%, and London gold spot rose 0.48%, while London silver fell 1.66% [10]. 3.主要品种早盘评论 (Morning Comments on Major Varieties) Financial - Stock Index: A - shares are expected to form a long - term bullish pattern due to supply - side reform, RMB appreciation, and overseas capital inflows [11]. - Treasury Bonds: Treasury bonds stabilized and rose. The yield of the 10 - year treasury bond active bond declined. The central bank's open - market operations and economic data influenced the market. The new public - fund sales regulations eased concerns about bond - fund liquidity [12][13]. Energy and Chemicals - Crude Oil: Crude oil futures rebounded. Trump's statement on South American oil and OPEC's compensation plan affected the market [14]. - Methanol: Methanol prices declined. High inventory and reduced开工 rates led to a short - term weakening trend [15]. - Natural Rubber: Rubber prices are expected to be volatile and bullish due to supply constraints and stable tire production [4][16]. - Polyolefins: Polyolefin futures continued to rebound, but the upward momentum may slow down [17]. - Glass and Soda Ash: Glass and soda ash futures declined. Attention is on the real - estate industry's recovery and supply - side changes [18]. Metals - Precious Metals: Precious metals are expected to have a long - term upward trend. Gold is supported by a weakening US dollar and central - bank purchases, while silver and platinum are also driven by supply - demand gaps [2][19]. - Copper: Copper prices fell at night. Tight concentrate supply and weak downstream demand influenced the market [20]. - Zinc: Zinc prices declined. Tight concentrate supply and weak downstream demand were the main factors [21]. - Aluminum: Aluminum prices continued to correct. The US economic data and Fed's stance affected the market. Supply was stable, and demand was acceptable, but attention is on the impact of the approaching Spring Festival [22]. - Lithium Carbonate: Lithium carbonate prices reached new highs. Despite short - term fluctuations, prices are likely to rise due to strong demand and inventory structure [3][24]. Black Commodities - Coking Coal and Coke: The prices of coking coal and coke are expected to be strong in the short term, supported by supply disruptions, iron - water production recovery, and pre - holiday restocking [25]. - Iron Ore: Iron - ore prices may continue to be slightly bullish in the short term, with a small increase in supply and stable demand [26]. - Steel: Steel prices fell at night. The market is in a state of weak supply and demand, but the overall commodity atmosphere is positive [27]. Agricultural Products - Protein Meal: Protein - meal prices are under pressure due to high inventory and expected South American soybean harvest, but Chinese purchases provide some support [28][29]. - Oils and Fats: Oil prices were weak. Palm - oil prices are affected by production concerns, while soybean - oil prices are influenced by potential soybean reserves and palm - oil prices [30]. - Sugar: Sugar prices are expected to be volatile. International prices are weak, while domestic prices are supported by production costs [31]. - Cotton: Cotton prices are likely to be strong, supported by reduced planting area expectations and fast sales progress [32]. Shipping Index - Container Shipping to Europe: The price of container shipping to Europe continued to decline, and the price inflection point at the beginning of the year may be confirmed [33][34].