格林大华期货早盘提示：贵金属-20260401

Report Summary 1. Report Industry Investment Rating - The report does not provide an industry investment rating. 2. Core View - The market is affected by geopolitical factors, and short - term uncertainty is high. Investors should control positions and prevent risks [2]. 3. Summary by Directory Market Quotes - International precious metal futures generally closed higher. COMEX gold futures rose 3.12% to $4699.60 per ounce, and COMEX silver futures rose 6.77% to $75.34 per ounce. Shanghai gold's main contract rose 1.97% to 1040.82 yuan per gram, and Shanghai silver's main contract rose 5.18% to 18954 yuan per kilogram [1]. Important Information - On March 31, the holdings of the world's largest gold ETF - SPDR Gold Trust increased by 1.143 tons to 1047.276 tons, while the holdings of the world's largest silver ETF - iShares Silver Trust decreased by 14.08 tons to 15274.28 tons [1]. - According to CME's "FedWatch", the probability of the Fed raising interest rates by 25 basis points in April is 1.6%, and the probability of keeping interest rates unchanged is 98.4%. By June, the probability of a cumulative 25 - basis - point rate cut is 3.9%, the probability of keeping interest rates unchanged is 94.6%, and the probability of a cumulative 25 - basis - point rate hike is 1.5% [1]. - Eurozone consumer prices rose 2.5% year - on - year in March, up from 1.9% in February, the highest level since January 2025 [1]. - In February, US job vacancies fell to 6.882 million, slightly lower than the market expectation of 6.89 million, and significantly lower than the revised 7.24 million in January. Recruitment and separation numbers both hit multi - year lows, indicating a cooling labor market [1]. - Trump is willing to end the war when the Strait of Hormuz is not fully open. The US "Bush" aircraft carrier is being deployed to the Middle East. Iran's president said the only way to restore regional order is to stop aggressive attacks, and Iran's foreign minister said Iran will not agree to a cease - fire but demands an end to the war in the entire region [1]. Market Logic - US job vacancies declined in February, and the recruitment speed slowed down significantly. The US and Iran both showed a willingness to end the Middle East conflict, leading to a sharp rise in US stocks. International crude oil prices fell, US bond yields declined, the 2 - year US bond yield fell about 3 basis points to 3.79%, and the US dollar ended a five - day rising trend, falling 0.62% and closing below 100 at 99.88. COMEX gold and silver both rose significantly, with silver rising more. The US president's statement about ending the Iran war in two to three weeks may be a signal of de - escalation, but its credibility depends on subsequent actions. If negotiations break down, market sentiment may reverse quickly, and volatility will remain high [1][2]. Trading Strategy - Due to geopolitical influence, market short - term uncertainty is large. Investors should pay attention to controlling positions and preventing risks [2].