Group 1: Price Performance - The latest price of London Gold is 3335.50 with a change of 0.00 [1] - The latest price of London Silver is 37.73 with a change of 0.00 [1] - The latest price of London Platinum is 1335.00 with a change of -18.00 [1] - The latest price of London Palladium is 1126.00 with a change of -14.00 [1] - The latest price of WTI Crude Oil is 62.80 with a change of 0.00 [1] - The latest price of LME Copper is 9757.00 with a change of -7.50 [1] - The latest value of the US Dollar Index is 97.85 with a change of 0.00 [1] - The latest exchange rate of Euro to US Dollar is 1.17 with a change of 0.00 [1] - The latest exchange rate of British Pound to US Dollar is 1.36 with a change of 0.00 [1] - The latest exchange rate of US Dollar to Japanese Yen is 147.16 with a change of 0.00 [1] - The latest yield of US 10 - year TIPS is 1.95 with a change of 0.00 [1] Group 2: Trading Data - The latest COMEX silver inventory is 15786.61 with a change of 0.00 [1] - The latest SHFE silver inventory is 1138.43 with a change of -3.13 [1] - The latest gold ETF holding is 965.37 with a change of 0.00 [1] - The latest silver ETF holding is 15071.31 with a change of 0.00 [1] - The latest SGE silver inventory is 1368.95 with a change of 0.00 [1] - The latest SGE gold deferred - fee payment direction is 1 with a change of 0.00 [1] - The latest SGE silver deferred - fee payment direction is 1 with a change of 0.00 [1]

Market Performance - A-shares opened higher on August 18, with the Shanghai Composite Index stabilizing above 3700 points and reaching a peak of 3745.94 points, marking a nearly 10-year high [1] - By the end of the trading day, the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rose by 0.85%, 1.73%, and 2.84% respectively, closing at 3728.03 points, 11835.57 points, and 2606.2 points, with both the Shenzhen Component Index and ChiNext Index hitting new highs for the year [1] - The North Stock 50 Index surged by 6.79%, closing at 1576.63 points, achieving a historical high [1] Sector Performance - Sectors that saw significant gains included liquid cooling concepts, Kirin batteries, and CPO concepts, while the coal industry, precious metals, and low-carbon metallurgy sectors experienced declines [1] Individual Stock Performance - Out of 4037 A-shares, 122 stocks hit the daily limit up, while 1222 stocks declined, with only 2 stocks hitting the daily limit down [2] - The trading volume reached approximately 2.76 trillion yuan, setting a new high for the year, with the Shanghai market recording a turnover of 11339.42 billion yuan and the Shenzhen market 16302.21 billion yuan [2]

(责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇8月18日｜A股主要指数拉升，深证成指涨超1%，创业板指涨超1%，沪指涨0.44%，液冷概念、 AI语料、华为海思、船舶制造、影视等概念走强；贵金属、煤炭、多远金融等概念走弱；全市近4000 股上涨，1100股下跌。 | 代码 | 名称 | | 涨幅% ↓ | 总市值 | 年初至今涨幅% | | --- | --- | --- | --- | --- | --- | | 300147 | ST香雪 | t | 16.47 | 58.92亿 | -8.80 | | 300199 | 翰宇药业 | 1 | 12.05 | 258亿 | 126.53 | | 002082 | 万邦德 | | 10.01 | 49.06亿 | 24.73 | | 600535 | 天士力 | 3 | 7.73 | 260亿 | 22.17 | ...

Group 1 - The A-share market opened slightly lower on August 15, with the Shanghai Composite Index down by 0.18%, the Shenzhen Component Index down by 0.28%, and the ChiNext Index down by 0.2% [1] - Sectors such as AI chips, precious metals, and digital currencies experienced the largest declines [1]

1. Report Industry Investment Rating There is no information provided regarding the report's industry investment rating. 2. Core Viewpoints of the Report - The unexpectedly high US inflation data released last night and the Fed officials' cautious stance on interest rate cuts have put short - term pressure on precious metal prices [2][3]. - The much - higher - than - expected PPI data in July shows that Trump's tariff policy has significantly affected US prices. Fed officials' statements around the data release were generally hawkish [3]. - Despite the current resilience of US inflation data, due to factors such as US debt interest payments and Trump administration intervention, the Fed will implement a further easing cycle. It is recommended to wait and see for now and consider buying on dips after the price stabilizes. The reference operating range for the main contract of Shanghai Gold is 766 - 788 yuan/gram, and for Shanghai Silver, it is 9045 - 9526 yuan/kilogram [3]. 3. Summary by Related Catalogs Market Price Changes - Shanghai Gold (Au) dropped 0.55% to 774.54 yuan/gram, and Shanghai Silver (Ag) dropped 1.31% to 9197.00 yuan/kilogram. COMEX Gold fell 0.12% to 3379.00 dollars/ounce, and COMEX Silver fell 0.12% to 38.03 dollars/ounce. The US 10 - year Treasury yield was 4.29%, and the US dollar index was 98.21 [2]. - In the comparison of recent trading days, various precious - metal - related products showed different price and volume changes, such as Au(T + D) rising 0.05% to 775.10 yuan/gram, and London Gold falling 0.61% to 3343.85 dollars/ounce [4]. US Economic Data - In July, the US PPI year - on - year value was 3.3%, much higher than the expected 2.5% and the previous value of 2.4%. The month - on - month value was 0.9%, significantly higher than the expected 0.2% and the previous value of 0% [3]. Trading Suggestions - Given the current market situation, it is recommended to wait and see for now. After the precious metal prices stabilize after a correction, consider buying on dips. The reference operating range for the main contract of Shanghai Gold is 766 - 788 yuan/gram, and for Shanghai Silver, it is 9045 - 9526 yuan/kilogram [3]. Data Tables and Graphs - Multiple data tables presented detailed information on precious - metal prices, trading volumes, positions, and inventories in different markets and time periods, such as the COMEX and SHFE gold and silver markets [6]. - There are also various graphs showing the relationships between precious - metal prices, US dollar index, real interest rates, and other factors, as well as the near - far month structure and price spreads of precious metals [8][11][21].

Market Commentary - The market has entered a positive feedback loop, with the recent rally driven by a significant increase in risk appetite and strong overseas performance in optical module companies, leading to a substantial rise in the ChiNext Index [2][3][4] - On August 13, the Shanghai Composite Index rose by 0.48% to 3683.46 points, breaking the previous high since the 924 market, while the ChiNext Index surged by 3.62% to 2496.50 points, nearing its previous peak [2][3] - The total trading volume of the A-share market reached 2.18 trillion, the second highest this year, indicating robust market activity [2] Internal Driving Forces of the Bull Market - The current bull market is characterized by strong internal driving forces, with a steady upward trend since early April, supported by increased attention from decision-makers towards the capital market, continuous improvement in micro liquidity, and persistent market hotspots [4][6] - The decision-makers have shifted their tone from "stabilizing and activating" to "consolidating and improving," signaling a heightened focus on the capital market, which provides a safety net for ongoing liquidity inflows [4] - The bull market's internal driving forces have entered a virtuous cycle, with no changes in the three core supporting factors: increased attention from decision-makers, continuous liquidity inflow, and sustained market hotspots [4][6] Investment Focus - The report suggests focusing on sectors with the highest growth elasticity, particularly in technology and performance-supported areas [6][7] - The first investment line emphasizes high-elasticity growth technology sectors, including AI, computing power, robotics, and military industry, which are expected to perform well in the current bull market [6] - The second investment line targets sectors with strong performance support, such as rare earth permanent magnets, precious metals, engineering machinery, motorcycles, and agricultural chemicals, which are expected to benefit from favorable market conditions [6] - The third investment line highlights structural policy opportunities in service consumption and potential valuation recovery in real estate, driven by macro policy adjustments [7]

| Millio | > 国技期货 | 责金属日报 | | --- | --- | --- | | | 操作评级 | 2025年08月12日 | | 黄金 | ☆☆☆ | 刘冬博 高级分析师 | | 白银 | ☆☆☆ | F3062795 Z0015311 | | | | 吴江 高级分析师 | | | | F3085524 Z0016394 | | | | 010-58747784 | | | | gtaxinstitute@essence.com.cn | 隔夜贵金属回落，国际金价在3400美元/盎司上方仍体现较强阻力。特朗普发帖澄清黄金关税传闻,供应链 扰动担忧解除。今日中美联合声明宣布对等关税再次暂停90天，本周重点关注美俄领导会谈和今晚的美国 CPI数据发布，市场情绪可能出现波动，贵金属高位谨慎参与，震荡趋势中耐心等待回调布局机会。 ★中美斯德哥尔摩经贸会谈联合声明：一、美国将继续修改2025年4月2日第14257号行政令中规定的对中国 商品（包括香港特别行政区和澳门特别行政区商品）加征从价关税的实施，自2025年8月12日起再次暂停实 施24%的关税90天，同时保留按该行政令规定对这些商品加征的剩余 ...

本文字数：979，阅读时长大约2分钟 8月12日，市场早盘震荡走高，三大指数小幅上涨。截至午间收盘，沪指涨0.51%，深成指涨0.34%，创业板指涨0.91%。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 3666.33 | 11330.34 | 1453.91 | | +18.78 +0.51% +38.92 +0.34% | | -4.81 -0.33% | | 科创20 | 创业板指 | 万得全A | | 1066.34 | 2401.52 | 5736.56 | | +16.61 +1.58% +21.70 +0.91% +12.98 +0.23% | | | 盘面上热点较为杂乱，个股跌多涨少，全市场超3300只个股下跌。 从板块来看，权重股集体发力，AI硬件端核心股再度上涨，工业富联等多股续创历史新高；新疆、银行等板块表现活跃；热门题材普跌，稀 土永磁、锂矿、创新药、军工集体下挫。 半日主力 资金流向 主力资金早间净流入电子、通信、非银金融、计算机、银行、家用电器、传媒等板块，净流出电力设备、国防军工、有色金属、基础化工、 机械设备、医药生物、建筑材料等 ...

Market Overview - The Shanghai Composite Index rose by 0.01%, the Shenzhen Component Index increased by 0.01%, and the ChiNext Index gained 0.06% [1][4]. Lithium Market - Lithium carbonate futures saw a significant drop, with the main contract's increase narrowing to nearly 4% after initially rising close to 10% at the opening [2][4]. - The price of lithium carbonate futures at 09:30 was reported at 84,100, with a decrease of 3,200 (3.96%) from the previous session [3]. A-shares Performance - A-shares opened higher, with the Xinjiang sector remaining active, particularly in wind power and vaccine concepts, while cyclical stocks generally retreated [4]. - The overall A-share market showed 2,118 stocks rising, 1,162 unchanged, and 2,137 declining [5]. Hong Kong Market - The Hang Seng Index opened lower, down 0.33%, with the Hang Seng Tech Index falling by 0.59%. Major tech stocks like Alibaba and Baidu dropped over 1% [6][7]. - Lithium mining stocks continued to rise, while pharmaceutical stocks remained active, with Fosun Pharma increasing by over 7% [6]. Monetary Policy - The central bank conducted a 7-day reverse repurchase operation of 114.6 billion yuan at an interest rate of 1.40%, with 160.7 billion yuan of reverse repos maturing today [8].

Group 1 - The latest stock price of Shanjin International as of August 6, 2025, is 18.79 yuan, reflecting an increase of 0.26 yuan or 1.40% from the previous trading day's closing price [1] - The opening price on the same day was 18.57 yuan, with a highest price of 18.81 yuan and a lowest price of 18.52 yuan, resulting in a trading volume of 246,507 hands and a total transaction amount of 460 million yuan [1] - Shanjin International is involved in the precious metals sector, particularly focusing on the mining, smelting, and sales of gold and other non-ferrous metals [1] Group 2 - On August 6, 2025, a block trade occurred involving 2.6 million shares at a transaction amount of 47.398 million yuan, with a transaction price of 18.23 yuan, representing a discount of 2.98% [1] - The buyer of the block trade was Changjiang Securities Co., Ltd., while the seller was CITIC Jianchao Securities Co., Ltd. [1] - On the same day, the net inflow of main funds into Shanjin International was 4.538 million yuan, accounting for 0.01% of the circulating market value, while the net outflow over the past five days was 121.147 million yuan, representing 0.26% of the circulating market value [1]