贵金属期现日报-20260401

Group 1: Report Investment Rating - No information provided Group 2: Core Viewpoints - As the impact of the geopolitical situation on the market is gradually digested, if the gold ETF holdings stop falling and rebound, indicating improved confidence of allocation funds, one can try to go long on dips in the range of $4400 - $4500, and pay attention to the stage resistance of the 20 - day moving average [1] - In the short term, with the easing of the US - Iran war, silver is expected to stabilize above $70 along with gold. One can seize the opportunity for a band - up move with boosted market sentiment, and the upper resistance is at $85 [1] - Platinum's price is rising in the central range of $1850 - $2015, and palladium is oscillating above $1400. Since palladium has a relatively weaker fundamental, the long position on the platinum - palladium ratio can continue to be held [1] Group 3: Summary by Relevant Catalogs Domestic Futures Closing Prices - AU2606 contract closed at 1020.10 yuan/gram on March 31, up 0.51% (5.22 yuan) from March 30 [1] - AG2606 contract closed at 18126 yuan/kilogram on March 31, up 2.37% (419 yuan) from March 30 [1] - PT2606 contract closed at 493.10 yuan/gram on March 31, down 0.88% (4.40 yuan) from March 30 [1] - PD2606 contract closed at 361.40 yuan on March 31, up 1.15% (4.10 yuan) from March 30 [1] Foreign Futures Closing Prices - COMEX gold主力合约 closed at 4699.60 on March 31, up 3.51% (159.20) from March 30 [1] - COMEX silver主力合约 closed at 75.35 on March 31, up 7.36% (5.16) from March 30 [1] - NYMEX platinum主力合约 closed at 1962.30 dollars/ounce on March 31, up 3.67% (69.40) from March 30 [1] - NYMEX palladium主力合约 closed at 1488.50 on March 31, up 5.31% (75.00) from March 30 [1] Spot Prices - London gold was at 4669.13 on March 31, up 3.45% (155.61) from the previous value [1] - London silver was at 75.11 on March 31, up 7.24% (5.07) from the previous value [1] - Spot platinum was at 1950.00 dollars/ounce on March 31, up 3.34% (63.00) from the previous value [1] - Spot palladium was at 1448.00 on March 31, up 1.26% (18.00) from the previous value [1] - Shanghai Gold Exchange gold T + D was at 1015.68 yuan/gram on March 31, up 0.67% (6.72 yuan) from the previous value [1] - Shanghai Gold Exchange silver T + D was at 18031 yuan/kilogram on March 31, up 2.68% (471 yuan) from the previous value [1] - Shanghai Gold Exchange platinum 9995 was at 495 yuan/gram on March 31, up 1.10% (5 yuan) from the previous value [1] Basis - Gold TD - Shanghai gold主力 was - 4.42, up 1.50 from the previous value, with a 1 - year historical quantile of 46.10% [1] - Silver TD - Shanghai silver主力 had a change, and the 1 - year historical quantile was 60.60% [1] - Another basis was 3.66, up 0.74 from the previous value, with a 1 - year historical quantile of 99.20% [1] - London gold - COMEX gold had a change [1] - London silver - COMEX silver was - 0.05, up 0.02 from the previous value, with a 1 - year historical quantile of 59.70% [1] Price Ratios - COMEX gold/silver was 62.37 on March 31, down 3.59% (2.32) from the previous value [1] - SHFE gold/silver was 56.28 on March 31, down 1.81% (1.04) from the previous value [1] - NYMEX platinum/palladium was 1.32 on March 31, down 1.56% (0.02) from the previous value [1] - GZFE platinum/palladium was 1.36 on March 31, down 2.01% (0.03) from the previous value [1] Interest Rates and Exchange Rates - 10 - year US Treasury yield was 4.30 on March 31, down 1.1% (0.05) from the previous value [1] - 2 - year US Treasury yield was 3.79 on March 31, down 0.8% (0.03) from the previous value [1] - 10 - year TIPS Treasury yield was 2.00 on March 31, down 2.0% (0.04) from the previous value [1] - US dollar index was 09.88 on March 31, down 0.62% (0.62) from the previous value [1] - Offshore RMB exchange rate was 6.8879 on March 31, down 0.41% (0.0285) from the previous value [1] Inventories and Holdings - SHFE gold inventory was 106644 kilograms on March 31, unchanged from the previous value [1] - SHFE silver inventory was 368667 on March 31, down 1.54% (5760) from the previous value [1] - COMEX gold inventory was 31533901 on March 31, down 0.01% (2604) from the previous value [1] - COMEX silver inventory was 327820669 on March 31, up 0.07% (231248) from the previous value [1] - COMEX gold registered warehouse receipts was 16563243 on March 31, down 0.33% (55291) from the previous value [1] - COMEX silver registered warehouse receipts was 76429739 on March 31, up 0.53% (404881) from the previous value [1] - SPRD gold ETF holdings was 1047 on March 31, up 0.11% (1.15) from the previous value [1] - SLV silver ETF holdings was 15274 on March 31, down 0.09% (14.08) from the previous value [1]