Conflict Situation - Russian air defense forces reportedly destroyed 34 Ukrainian drones during the night [1] - Ukrainian officials confirmed a drone attack on Russian defense facilities in the Vladimir region [1] - The intensity of Russian military operations has significantly increased, focusing on the Pokrovsk direction [1] - Russian President Putin stated that some Ukrainian troops are hiding in basements in the Kursk region, with intercepted communications indicating requests for evacuation assistance [1] Negotiation Situation - The Kremlin spokesperson Peskov confirmed that Russia is ready for direct talks with Ukraine [2] - Ukrainian Foreign Minister reiterated Kyiv's willingness to engage in peace negotiations, contingent on a 30-day ceasefire, and expressed openness to a 60 or 90-day ceasefire if Russia agrees [2] - The Ukrainian Prime Minister stated that Ukraine will retain control over all resources in the agreement with the U.S. [2] Other Situations - The Secretary of the Russian Security Council commented on Europe's attempts to prevent normalization of U.S.-Russia relations [4] - The U.S. and Ukraine reached an agreement regarding access to Ukraine's natural resources [5] - U.S. Treasury Secretary Basant highlighted that the U.S.-Ukraine economic partnership agreement allows for joint investments to "unlock Ukraine's growth assets" [5] - The U.S. Treasury announced the establishment of a U.S.-Ukraine Reconstruction Investment Fund [5]

兴业期货：关税、和谈与政策预期交织 白银长期多 配思路未变 【白银期货行情表现】 3月25日，沪银主力暂报8243元/克，涨幅达0.50%，今日沪银主力开盘价8233元/克，截至目前最高 8259元/克，最低8196元/克。 美国和俄罗斯官员周一在沙特阿拉伯举行会谈，华盛顿希望在达成更广泛的协议之前达成一项单独 的黑海海上停火协议，双方或将于3月25日发布联合声明，为俄乌冲突释放首个缓和信号。 美国3月标普全球制造业PMI初值49.8，为3个月以来新低，预期51.8，2月终值52.7；服务业PMI初 值54.3，预期50.8，2月终值51；综合PMI初值53.5，2月终值51.6。 【机构观点】 兴业期货：关税、和谈与政策预期交织 白银长期多配思路未变 特朗普对等关税措施或比预期更温和。CME数据显示，市场预期美联储年内降息1-2次，其中年内 降息2次的概率近期有所回落，美元指数小幅反弹。贵金属货币属性增强的长期上行驱动未变，但短期 关税预期即将兑现、俄乌和谈、以及美联储宽松预期反复等扰动因素增加。维持贵金属多配思路。 【宏观消息】 美国总统特朗普宣布，将对购买委内瑞拉石油和天然气的国家征收25%的关税，相关 ...