钯：低位盘桓：铂：恐慌情绪传导，铂金弱势

1. Report Industry Investment Rating - No information about the industry investment rating is provided in the report. 2. Core Viewpoints of the Report - Platinum is in a weak state due to the spread of panic sentiment while palladium is hovering at a low level [1] - The trend intensity of both platinum and palladium is -1, indicating a bearish outlook [5] 3. Summary by Relevant Catalogs 3.1 Fundamental Tracking - Price: Platinum and palladium prices showed significant declines. For example platinum futures 2606 dropped by 8.97% to 570.30 and palladium futures 2606 decreased by 6.42% to 433.90 [2] - Trading Volume and Open Interest: The trading volume and open interest of platinum and palladium contracts had different changes. For instance NYMEX platinum's trading volume increased by 21,962 to 58,016 kg and its open interest decreased by 647 to 77,429 kg [2] - ETF Holdings: Platinum ETF holdings (ounces) decreased by 1,038 to 3,262,226 while palladium ETF holdings (ounces) increased by 584 to 1,167,312 [2] - Inventory: NYMEX platinum inventory (ounces) decreased by 907 to 587,159 and NYMEX palladium inventory (ounces) remained unchanged at 202,181 [2] - Price Spread: Various price spreads of platinum and palladium contracts also changed. For example the PT9995 - PT2606 price spread increased by 20.75 to 0.60 [2] - Exchange Rate: The US - dollar index rose by 1.67% to 99.27 and the US - dollar to RMB exchange rates also had certain increases [2] 3.2 Macro and Industry News - Political News: Trump announced to cut off trade with Spain due to its lack of cooperation in actions against Iran and the US Senate will vote on the "war powers resolution" to limit Trump's actions against Iran [6] - Military Tension: Iran claimed to have destroyed two US THAAD systems and there are various military movements and statements in the Middle - East situation, such as Saudi and UAE's considerations regarding Iran [6] - Fed's Statements: Fed officials expressed different views on interest rates and the impact of the Iran issue on the economy [6] - Energy Situation: Trump announced to provide insurance for maritime crude - oil transportation and there are issues like fires in UAE's oil hub and Iraq's potential production cut [6] - Other News: The 4th Session of the 14th National Committee of the Chinese People's Political Consultative Conference will be held from March 4th to 11th [6]