贵金属期现日报-20260204

1. Report Industry Investment Rating - Not mentioned in the report 2. Core Viewpoints of the Report - In the short - term, as market sentiment stabilizes, gold has stopped falling and rebounded. The bottom of the stage is expected to be gradually established, but bullish confidence still needs to be restored. Investors can choose to allocate at low prices [1] - Affected by factors such as regulatory restrictions and macro - news sentiment, silver prices may fluctuate widely in the range of $75 - 95. Before the holiday, the exchange raised margin requirements again. Institutions may hold empty positions and wait and see, resulting in a decline in liquidity and volatility. Single - side operations need to be cautious [1] - Palladium rebounds following gold in the short - term, and its price will enter a consolidation phase. It is recommended to wait and see temporarily until the direction is clear [1] 3. Summary by Relevant Catalogs Domestic Futures Closing Prices - The AU2604 contract rose 85.18 yuan/gram on February 3, 2026, with a daily increase of 8.45% compared to February 2 [1] - The AG2604 contract fell 3386 yuan/kg on February 3, 2026, with a daily decrease of 13.64% compared to February 2 [1] - The PT2606 contract rose 20.80 yuan, with a daily increase of 3.77% [1] - The PD2606 contract rose 36.85 yuan/gram on February 3, 2026, with a daily increase of 8.91% compared to February 2 [1] Foreign Futures Closing Prices - The COMEX gold main contract rose $289.60 on February 3, 2026, with a daily increase of 6.19% compared to February 2 [1] - The COMEX silver main contract rose $5.65, with a daily increase of 7.13% [1] - The NYMEX platinum main contract rose $93.80 on February 3, 2026, with a daily increase of 4.43% compared to February 2 [1] - The NYMEX palladium main contract rose $21.00, with a daily increase of 1.22% [1] Spot Prices - London gold rose $286.88 on February 3, 2026, with a daily increase of 6.16% compared to the previous day [1] - London silver rose $6.22, with a daily increase of 7.85% [1] - Spot platinum rose $102.00 on February 3, 2026, with a daily increase of 4.76% compared to the previous day [1] - Spot palladium rose $2.84, with a daily increase of 0.16% [1] - The Shanghai Gold Exchange's gold T + D rose 69.22 yuan/gram on February 3, 2026, with a daily increase of 6.74% compared to the previous day [1] - The Shanghai Gold Exchange's silver T + D fell 1820 yuan/kg on February 3, 2026, with a daily decrease of 7.77% compared to the previous day [1] - The Shanghai Gold Exchange's platinum 9995 rose 50 yuan/gram on February 3, 2026, with a daily increase of 9.76% compared to the previous day [1] Basis - The basis of gold TD - Shanghai gold main contract was 2.56 yuan, down 15.96 yuan from the previous day, and the historical one - year quantile was 46.10% [1] - The basis of silver TD - Shanghai silver main contract was 154 yuan, up 1566 yuan from the previous day, and the historical one - year quantile was 60.60% [1] - The basis of London gold - COMEX gold was - 24.33 yuan, down 2.72 yuan from the previous day, and the historical one - year quantile was 33.50% [1] - The basis of London silver - COMEX silver was 0.50 yuan, up 0.56 yuan from the previous day, and the historical one - year quantile was 95.90% [1] Price Ratios - The COMEX gold/silver ratio was 58.54, down 0.52 from the previous day, with a daily decrease of 0.88% [1] - The Shanghai Futures Exchange gold/silver ratio was 51.00, up 10.38 from the previous day, with a daily increase of 25.57% [1] - The NYMEX platinum/palladium ratio was 1.27, up 0.04 from the previous day, with a daily increase of 3.17% [1] - The Guangzhou Futures Exchange platinum/palladium ratio was 1.27, down 0.06 from the previous day, with a daily decrease of 4.72% [1] Interest Rates and Exchange Rates - The 10 - year US Treasury yield was 4.28%, down 0.01 percentage points from the previous day, with a daily decrease of 0.2% [1] - The 2 - year US Treasury yield was 3.57%, unchanged from the previous day [1] - The 10 - year TIPS Treasury yield was 1.92%, down 0.02 percentage points from the previous day, with a daily decrease of 1.0% [1] - The US dollar index was 97.39, down 0.23 from the previous day, with a daily decrease of 0.23% [1] - The on - shore RMB exchange rate was 6.9350, down 0.0064 from the previous day, with a daily decrease of 0.09% [1] Inventory and Positions - The Shanghai Futures Exchange's gold inventory was 103,032 kg on February 3, 2026, up 3 kg from the previous day, with an increase of 0.00% [1] - The Shanghai Futures Exchange's silver inventory was 449,653 kg on February 3, 2026, down 12,970 kg from the previous day, with a decrease of 2.80% [1] - The COMEX gold inventory was 35,755,533 ounces on February 3, 2026, up 130,179 ounces from the previous day, with an increase of 0.37% [1] - The COMEX silver inventory was 403,857,528 ounces on February 3, 2026, down 1,840,067 ounces from the previous day, with a decrease of 0.45% [1] - The COMEX platinum registered warehouse receipts were 18,962,352 ounces on February 3, 2026, down 32,689 ounces from the previous day, with a decrease of 0.17% [1] - The COMEX palladium registered warehouse receipts were 103,070,933 ounces on February 3, 2026, down 946,605 ounces from the previous day, with a decrease of 0.91% [1] - The SPDR gold ETF position was 1,083 tons on February 3, 2026, down 3.72 tons from the previous day, with a decrease of 0.34% [1] - The SLV silver ETF position was 16,438 tons on February 3, 2026, down 108.90 tons from the previous day, with a decrease of 0.66% [1]