贵金属期现日报-20260122

Group 1: Report Industry Investment Rating - No information provided Group 2: Report's Core View - The market is affected by macro - geopolitical events, repeatedly supporting the gold price to maintain a relatively strong oscillation. Gold can be bought on dips after a callback when it is above the 20 - day moving average. At the same time, sell out - of - the - money call options to lock in the retracement risk [1] - For silver, the short - term suspension of the 232 investigation tariff by the US and the position - limit measures of the exchange have eased the capital sentiment. The price may enter a high - level oscillation. Be cautious about unilateral participation. Sell out - of - the - money call options to earn volatility - reduction returns [1] - The spot supply of crude gold in London is tightening. It can be bought on dips when it retraces to the 20 - day moving average. The price generally fluctuates in the range of 587 - 640 yuan, and an option straddle strategy can be used. Palladium performs relatively weaker than platinum, and out - of - the - money call options above 510 yuan can be sold [1] Group 3: Summary by Relevant Catalogs Domestic Futures Closing Price - AU2604 contract closed at 1092.30 yuan/gram on January 21, up 32.14 yuan or 3.03% from January 20 [1] - AG2604 contract closed at 23131 (unit not clear) on January 21, up 0.30% from January 20; another silver - related data closed at 628.50 yuan/kg, up 9.15 yuan or 1.48% [1] - PT2606 contract data not provided; PD2606 contract closed at 485.80, down 4.20 or - 0.86% [1] Foreign Futures Closing Price - COMEX gold main contract closed at 4836.20 on January 21, up 67.10 or 1.41% from January 20 [1] - COMEX silver main contract closed at 92.96, down 1.51 or - 1.59% [1] - NYMEX platinum main contract closed at 2478.80 dollars/ounce, down 1.20 or - 0.05% [1] - NYMEX lithium - gold main contract (assumed to be misspelled, might be palladium - gold) closed at 1874.50, down 34.00 or - 1.78% [1] Spot Price - London gold was at 4832.97, up 1.47% from the previous value [1] - London silver was at 93.10, down 1.43 or - 1.51% [1] - Spot platinum was at 2481.58 dollars/ounce, up 15.48 or 0.63% [1] - Another "spot aluminum - gold" (might be misspelled) was at 1845.16, down 29.18 or - 1.56% [1] - Shanghai Gold Exchange's gold T + D was at 1085.93 yuan/gram, up 29.94 yuan or 2.84% [1] - Shanghai Gold Exchange's silver T + D was at 23228 yuan/ten - gram, up 79 or 0.34% [1] - Shanghai Gold Exchange's platinum 9995 was at 628 yuan/5 - gram, up 15 or 2.45% [1] Basis - Gold TD - Shanghai gold main contract basis was - 6.37, down 2.20 from the previous value, at the 46.10% quantile of the past year [1] - Silver TD - Shanghai silver main contract basis was 97, up 10 from the previous value, at the 60.60% quantile [1] - London gold - COMEX gold basis was - 2.06, up 2.92 from the previous value, at the 92.90% quantile [1] - London silver - COMEX silver basis was 0.19, unchanged from the previous value, at the 90.00% quantile [1] Price Ratio - COMEX gold/silver ratio was 52.03, up 1.54 or 3.05% from the previous value [1] - Shanghai Futures Exchange's gold/silver ratio was 47.22, up 1.25 or 2.72% [1] - NYMEX platinum/palladium ratio was 1.32, up 0.02 or 1.76% [1] - Guangzhou Futures Exchange's platinum/palladium ratio was 1.29, up 0.03 or 2.35% [1] Interest Rate and Exchange Rate - 10 - year US Treasury yield was 4.26%, down 0.04% or - 0.9% from the previous value [1] - 2 - year US Treasury yield was 3.60%, unchanged from the previous value [1] - 10 - year TIPS Treasury yield was 1.92%, down 0.05% or - 2.5% [1] - US dollar index was 98.77, up 0.23 or 0.23% [1] - Offshore RMB exchange rate was 6.9601, up 0.0043 or 0.06% [1] Inventory and Position - Shanghai Futures Exchange's gold inventory was unchanged at 066666 (format might be wrong), with a 0.00% change [1] - Shanghai Futures Exchange's silver inventory was 600779 kg, down 17803 kg or - 2.88% [1] - COMEX gold inventory was 36142880, up 6979 or 0.02% [1] - COMEX silver inventory was 422313658, down 4162840 or - 0.98% [1] - COMEX gold registered warehouse receipts were 18864397, down 418419 or - 2.17% [1] - COMEX silver registered warehouse receipts were 119542538, down 3448830 or - 2.80% [1] - SPRD gold ETF position was 1078, down 4.00 or - 0.37% [1] - SLV silver ETF position was 18166, down 56.38 or - 0.35% [1]