Ruida Futures(SZ:002961) Rui Da Qi Huo·2026-02-11 08:54Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints of the Report - In the short term, after the previous sharp fluctuations, the volatility of the precious metals market may decline. The US employment and inflation data this week will be the core variables. If the slowdown in employment and inflation is further verified, gold and silver may continue the current rebound [2]. - In the medium to long term, the actual impact of Wash's election as the Fed Chairman on the interest - rate policy path may be relatively limited. As market sentiment calms down, the precious metals market may return to the pricing framework dominated by macro and fundamentals. If the cooling trend of inflation and employment data continues, the logic of bottom - fishing in the precious metals market still holds [2]. - The support level for London gold is 4700 - 4800 US dollars per ounce, and the resistance level is 5200 - 5300 US dollars per ounce; the support level for London silver is 65 - 70 US dollars per ounce, and the resistance level is 90 - 95 US dollars per ounce [2]. Group 3: Summary According to Relevant Catalogs 1. Futures Market - The closing price of the Shanghai gold main contract is 1130.400 yuan per gram, up 9.2; the closing price of the Shanghai silver main contract is 20944 yuan per kilogram, up 660.00 [2]. - The main contract position of Shanghai gold is 160,510.00 hands, up 3600.00; the main contract position of Shanghai silver is 9,050.00 hands, up 74.00 [2]. - The main contract trading volume of Shanghai gold is 217,933.00, down 164.00; the main contract trading volume of Shanghai silver is 504,079.00, down 107478.00 [2]. - The warehouse receipt quantity of Shanghai gold is 105072 kilograms, unchanged; the warehouse receipt quantity of Shanghai silver is 342,102 kilograms, up 18734 [2]. 2. Spot Market - The spot price of gold on the Shanghai Gold Exchange is 1123.02 yuan per gram, up 6.33; the spot price of Huatong No.1 silver is 19,556.00 yuan per kilogram, up 266.00 [2]. - The basis of the Shanghai gold main contract is - 7.38 yuan per gram, down 2.85; the basis of the Shanghai silver main contract is - 1,388.00 yuan per gram, down 394.00 [2]. 3. Supply and Demand Situation - The SPDR gold ETF holdings are 1079.32 tons, down 0.34; the SLV silver ETF holdings are 16,216.45 tons, up 25.36 [2]. - The non - commercial net position of gold in CFTC is 165604.00 contracts, down 39792.00; the non - commercial net position of silver in CFTC is 25,877.00 contracts, up 2174.00 [2]. - The total supply of gold is 1302.80 tons per quarter, down 0.19; the total supply of silver is 32,056.00 tons per year, up 482.00 [2]. - The total demand for gold is 1345.32 tons per quarter, up 79.57; the total demand for silver is 35,716.00 tons per year, down 491.00 [2]. 4. Macroeconomic Data - The US dollar index is 96.86, unchanged; the 10 - year US Treasury real yield is 1.84, down 0.03 [2]. - The VIX volatility index is 17.79, up 0.43; the CBOE gold volatility index is 28.86, down 3.98 [2]. - The ratio of the S&P 500 to the gold price is 61.15, down 0.00; the gold - silver ratio is down 1.56 [2]. 5. Industry News - Trump said he is considering sending another aircraft carrier strike group to the Middle East if negotiations with Iran fail [2]. - Fed officials Logan and Hamack made statements on the Fed's policy stance and interest - rate adjustment [2]. - US retail sales in December 2025 unexpectedly stagnated, and core retail sales declined [2]. - The deliverable inventory of COMEX gold decreased sharply, and the deliverable physical resources in the market are becoming increasingly tight [2]. 6. Key Points of Attention - The US January non - farm payrolls data will be released on February 11 at 21:30, and the US January CPI data will be released on February 13 at 21:30 [2].