资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 黄金和白银交易商、投资者正严阵以待，迎接正在进行的年度商品指数再平衡。预计未来几天内，价值 数十亿美元的期货合约将被抛售。花旗集团估计，为满足再平衡要求，约68亿美元的白银期货将被抛 售，而黄金期货的资金流出量也将大致相同。 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 高盛分析师表示，白银库存持续低迷意味着价格可能对流通高度敏感，这既增加了白银价格的上涨潜 力，也增加了其下跌风险。 纽约商品交易所黄金期货市场交投最活跃的2026年2月黄金期价8日上涨0.57%，收于每盎司4487.90美 元。 技术层面，2月黄金期货多头下一个上涨目标是突破4584.00美元强劲阻力价位。空头下一个短期 ...

Core Viewpoint - Gold prices experienced fluctuations but ultimately rose due to signals of easing fiscal and monetary policies from the U.S., alongside increased demand for safe-haven assets driven by geopolitical risks [1] Group 1: Market Performance - As of the close, COMEX gold futures increased by 0.57% to $4487.90 per ounce [1] - The China Gold ETF (518850) decreased by 0.1%, while the Gold Stock ETF (159562) fell by 0.39%, and the Nonferrous Metals ETF (516650) dropped by 1.72% [1] Group 2: U.S. Economic Policy - U.S. Treasury Secretary Yellen expressed a desire to lower interest rates, stating that rates are a key driver of future economic growth [1] - Federal Reserve Governor Milan projected a potential interest rate cut of approximately 150 basis points in 2026, which could create around one million jobs without triggering inflation [1] Group 3: Geopolitical Impact - The escalation of U.S.-Iran conflict has significantly enhanced the safe-haven attributes of gold and silver [1] - Despite a pre-holiday decline due to margin adjustments, gold and silver prices rebounded quickly afterward, indicating a strong reaction to geopolitical tensions [1] - The current conflict has led to an inverted yield curve in U.S. Treasury bonds and ongoing expectations for Fed rate cuts, further weakening the dollar's credibility and prompting central banks to increase gold holdings [1]

投资咨询业务资格：证监许可【2012】669号 中信期货研究|能源化⼯策略⽇报 2026-01-09 指数基⾦调仓带来原油买盘，能化延续 震荡整理 国际原油期货延续震荡整理态势，委内瑞拉原油业的发展被提上日 程；美国能源部长在与高管会谈后表示，康菲石油、埃克森美孚及其他美 国石油公司正在研究如何在振兴委内瑞拉能源工业中发挥作用。彭博大宗 商品指数(BCOM)年度再平衡正式于1月8日启动，将持续至1月14日，此次 调仓遵循'卖出赢家、买入输家'的原则，Brent原油权重上调带动原油 板块获显著被动买盘，有色金属则面临集体减持压力。EIA报告显示，上 周美国成品油库存大幅增加，石油总库存增加，对油价形成压制。 板块逻辑： 宏观主导了近期化工市场的反弹，股市和热门商品的调整也引发了化 工的集体走弱。芳烃链整体延续震荡态势，PTA产业链而言，芳烃原料开 工持稳，聚酯开工延续在90.8%的高位，终端织造开工延续季节性下行态 势，产业链较平淡。苯乙烯开工也周度持稳，下游EPS开工率周度小幅提 升。芳烃产业链仍将震荡。PP周度开工下滑，PE开工则略增，PE的贸易商 和下游工厂补库增多是近期价格反弹的主要原因，产业整体变化较 ...

早上好，先来关注下美国总统特朗普的最新表态。 据央视新闻最新消息，特朗普8日再次就伊朗骚乱事件发出威胁，称如再有人员死亡，美国将对伊朗进行"严厉打击"。 图片来源：央视新闻 CME近期第三次上调贵金属期货保证金 特朗普当天接受一家电台采访时说，美国正密切关注伊朗发生的骚乱事件，他不确定"是否一定要追究某个人的责任"，但如果伊朗当局对相关人员死亡事 件负有直接责任，"他们将付出惨痛的代价"。 据悉，伊朗多地发生骚乱，造成人员伤亡。特朗普2日威胁将就伊朗骚乱事件进行干涉。伊朗方面强调，伊朗人民将通过彼此之间的对话与互动来解决自 身问题，绝不允许任何形式的外来干预，并表示如果美国采取冒险行动，伊朗会作出回应。 特朗普还表示，美国必须"拥有"整个格陵兰岛，而不仅仅是依据现有条约在当地行使军事和防务权利。 特朗普称，所有权本身具有无法通过租赁或条约获得的战略价值。 关于美联储主席人选，特朗普称"心中已经有了决定"，但没有透露最终人选。当被问及他的首席经济顾问凯文·哈塞特时，特朗普称"我不想说"，但他形 容哈塞特"无疑是我喜欢的人之一"。 值得注意的是，伊朗突发大范围断网。当地时间8日晚，伊朗首都德黑兰互联网服务出现中断 ...

Group 1 - The core viewpoint of the articles highlights the geopolitical tensions surrounding Venezuela's oil resources, particularly following the U.S. military action against the Maduro regime, which is expected to increase demand for safe-haven assets like gold and silver [1] - Venezuela possesses approximately 3,500 tons of gold resource potential, with a gold production of 31 tons in 2024, placing it in a mid-range position globally [1] - The U.S. military strike against Venezuela underscores a strong stance towards resource-rich Latin American countries, potentially threatening the trade flow of key minerals and increasing the geopolitical risk premium on gold and silver prices [1] Group 2 - In the short term, gold and silver prices are expected to continue a volatile upward trend, while the long-term outlook remains bullish due to factors such as the continuation of the Federal Reserve's rate-cutting cycle, declining dollar credibility, rising geopolitical risks, and ongoing central bank gold purchases [2] - Silver is anticipated to outperform gold due to its industrial and strategic resource attributes [2]

国际油价周四从连续两日下跌中反弹，布伦特原油一度涨幅达5%，创两周新高。 地缘政治风险升温 尽管美国计划向国内炼油商出售至多5000万桶委内瑞拉原油，且美国汽油和馏分油库存上升，但投资者对委内瑞拉局势发展的评估以及对俄罗 斯、伊拉克和伊朗供应中断的担忧推动油价走高。 当地时间周三，美国能源部长Chris Wright在接受媒体采访时表示，预计雪佛龙将迅速扩大在委内瑞拉的业务，康菲石油和埃克森美孚也在寻求发 挥建设性作用。但能源咨询公司Ritterbusch and Associates指出： 大量委内瑞拉原油进入美国墨西哥湾地区可能需要数年时间。 市场同时密切关注其他主要产油国的供应风险。据报道，一艘驶往俄罗斯的油轮在黑海遭遇无人机袭击，伊拉克因美国对俄罗斯Lukoil实施制裁 而推进West Qurna 2油田国有化，伊朗则因经济困境引发全国性抗议并实施互联网封锁。 周四布伦特原油期货结算价上涨2.03美元，涨幅3.4%，至每桶61.99美元。这是布伦特原油自去年12月24日以来的最高收盘价。WTI原油期货上涨 1.77美元，涨幅3.2%，至每桶57.76美元。 特朗普对伊朗的强硬表态成为推动油价上涨的因素 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 来源：期货日报 早上好，先来关注下美国总统特朗普的最新表态。 据央视新闻最新消息，特朗普8日再次就伊朗骚乱事件发出威胁，称如再有人员死亡，美国将对伊朗进 行"严厉打击"。 特朗普当天接受一家电台采访时说，美国正密切关注伊朗发生的骚乱事件，他不确定"是否一定要追究 某个人的责任"，但如果伊朗当局对相关人员死亡事件负有直接责任，"他们将付出惨痛的代价"。 据悉，伊朗多地发生骚乱，造成人员伤亡。特朗普2日威胁将就伊朗骚乱事件进行干涉。伊朗方面强 调，伊朗人民将通过彼此之间的对话与互动来解决自身问题，绝不允许任何形式的外来干预，并表示如 果美国采取冒险行动，伊朗会作出回应。 特朗普还表示，美国必须"拥有"整个格陵兰岛，而不仅仅是依据现有条约在当地行使军事和防务权利。 特朗普称，所有权本身具有无法通过租赁或条约获得的战略价值。 关于美联储主席人选，特朗普称"心中已经有了决定"，但没有透露最终人选。当被问及他的首席经济顾 问凯文·哈塞特时，特朗普称"我不想说"，但他形容哈塞特"无疑是我喜欢的人之一"。 值得注意的是，伊朗突发大范围断网。当地时间8日晚，伊朗 ...

Group 1: Stock Market and Economic Data - US stock market indices closed mixed, with the Dow Jones up 0.55%, Nasdaq down 0.44%, and S&P 500 nearly flat. Defense stocks surged following Trump's proposal for a significant increase in military spending, while tech stocks mostly retreated. Alibaba rose over 5% [1][16] - The upcoming non-farm payroll report is anticipated by traders to assess the economic outlook after a period of market gains [1][16] Group 2: Corporate Leadership Changes - Vanke Group announced the resignation of Chairman Yu Liang, marking the end of his 35-year career with the company. His departure signifies a shift from a manager-led era to a more stable operational approach in the real estate sector [2][17] - New Hongze's Vice Chairman Meng Xue announced the voluntary relinquishment of all salary, including annual salary and performance bonuses, to focus on long-term strategy. The couple, who control approximately 61% of the company, have not taken salaries since its listing [3][17] Group 3: Regulatory and Legal Developments - India's new antitrust law allows fines based on global revenue, putting Apple at risk of a potential $38 billion fine. Apple has filed a lawsuit to challenge the law, claiming it is retroactive and excessively punitive [4][18] - The Cambodian National Bank has initiated the liquidation process for Prince Bank due to a trust crisis following the founder's arrest, halting all new business while allowing depositors to withdraw funds [12][26] Group 4: Market Trends and Predictions - Silver prices experienced a sharp decline after a nearly 200% increase in 2025, with experts predicting a high volatility trading pattern for 2026 rather than a continued bull market. Factors supporting silver include ongoing supply shortages and industrial demand [5][20] - The restructuring of Sinopec and China Aviation Oil is expected to exceed the revenue of PetroChina, potentially lowering aviation fuel costs and impacting airline procurement expenses [6][20] Group 5: Foreign Investment and Market Outlook - Foreign institutions like Goldman Sachs and UBS are optimistic about the Chinese market in 2026, predicting a 20% increase in the MSCI China Index, driven by reasonable valuations and profit growth from sectors like high-end manufacturing and internet [9][23] Group 6: Policy Reforms - The central government has indicated a forthcoming reform of the public housing fund system, aiming to enhance fund efficiency and support housing consumption amid changing market conditions [10][24] Group 7: Corporate Strategies and Adjustments - After taking control of Hongsheng Beverage Group, Zong Fuli initiated a strategic overhaul to improve operational efficiency and reduce dependency on the Wahaha system, facing challenges in team integration and market coordination [13][26] - Blue Arrow Aerospace is pursuing an IPO on the STAR Market, aiming to raise 7.5 billion yuan for developing reusable rocket technology, despite reporting significant losses and high R&D expenditures [14][15][26]

Core Viewpoint - Gold prices in Asia remained stable, supported by geopolitical risks that typically enhance gold's appeal as a safe-haven asset [1] Geopolitical Risks - Tensions in Latin America are identified as a potential source of uncertainty [1] - Attention is also focused on the renewed tensions surrounding Greenland [1] - Ongoing tensions in Eastern Europe are contributing to high geopolitical risk premiums [1] Gold Price - Spot gold is reported to be flat at $4,476.15 per ounce [1]

早上好，先来关注下美国总统特朗普的最新表态。 据央视新闻最新消息，特朗普8日再次就伊朗骚乱事件发出威胁，称如再有人员死亡，美国将对伊朗进行"严厉打击"。 特朗普当天接受一家电台采访时说，美国正密切关注伊朗发生的骚乱事件，他不确定"是否一定要追究某个人的责任"，但如果伊朗当局对相关人员死亡事 件负有直接责任，"他们将付出惨痛的代价"。 据悉，伊朗多地发生骚乱，造成人员伤亡。特朗普2日威胁将就伊朗骚乱事件进行干涉。伊朗方面强调，伊朗人民将通过彼此之间的对话与互动来解决自 身问题，绝不允许任何形式的外来干预，并表示如果美国采取冒险行动，伊朗会作出回应。 特朗普还表示，美国必须"拥有"整个格陵兰岛，而不仅仅是依据现有条约在当地行使军事和防务权利。 特朗普称，所有权本身具有无法通过租赁或条约获得的战略价值。 关于美联储主席人选，特朗普称"心中已经有了决定"，但没有透露最终人选。当被问及他的首席经济顾问凯文·哈塞特时，特朗普称"我不想说"，但他形 容哈塞特"无疑是我喜欢的人之一"。 芝加哥商品交易所（CME）当地时间8日发出通知，上调贵金属品种履约保证金，这是其近一个月以来第三次发出此类通知。 值得注意的是，伊朗突发大范 ...