Core Viewpoint - The article discusses the fluctuations in precious metal prices, particularly focusing on gold, silver, platinum, and palladium, in the context of recent market movements and the Federal Reserve's interest rate decisions [1]. Group 1: Gold Market - Spot gold decreased by 0.41%, settling at $3644.83 per ounce [1] - COMEX gold futures fell by 1.08%, closing at $3677.60 per ounce prior to the Federal Reserve's announcement of a 25 basis point rate cut [1]. - The Philadelphia Gold and Silver Index rose by 0.19%, reaching 270.81 points after a gap down opening and a day of upward volatility [1]. Group 2: Silver Market - Spot silver increased by 0.38%, priced at $41.8325 per ounce [1]. - COMEX silver futures experienced a slight decline of 0.09%, closing at $42.115 per ounce [1]. Group 3: Other Precious Metals - COMEX copper futures dropped by 0.35%, ending at $4.5980 per pound [1]. - Spot platinum rose by 1.31%, reaching $1388.03 per ounce [1]. - Spot palladium decreased by 0.20%, priced at $1159.49 per ounce [1].

作者：上海黄金交易所 国内市场，上金所黄金Au99.99合约月初开盘价730.80元/克，最高价834.60元/克，最低价703.31元/克，月末收于780.19元/克，较 上月末上涨51.59元/克，月度涨幅7.64%，本月加权均价为769.51元，较上月高2.36元。本月黄金竞价主力合约Au（T+D）共成交 1,401,200千克，占黄金交易量的20.6%，月末持仓208,794手，较上月增加23,120手。Au（T+D）的实物交收量为335,064千克， 其中，中立仓交收量为53,916千克；本月21个交易日的延期费支付情况为：13个交易日多付空，8个交易日空付多。Pt99.95合约 月初开盘价240.38元/克，最高价242.51元/克，最低价221.25元/克，月末收盘价237.00元/克，较上月末下跌0.66元/克，月度跌幅 0.28%，本月加权均价为233.37元，较上月低2.75元。白银Ag（T+D）合约月初开盘价8,470元/千克，最高价8,470元/千克，最低 价7,346元/千克，月末收盘价8,163元/千克，较上月末下跌293元/千克，月度跌幅3.46%，本月加权均价为8,059元，较 ...

Core Insights - The Shanghai Gold Exchange reported a total transaction amount of 42,895.44 billion yuan in March 2025, marking an 18.9% year-on-year increase, with inquiry trading accounting for 76.6% of the total [1] - The international gold price continued to rise, with spot gold closing at $3,118.55 per ounce, an increase of $260.72 from the previous month [2] - Domestic gold contract prices also saw significant increases, with the Au99.99 contract closing at 730.8 yuan per gram, up 60.02 yuan from the previous month, reflecting a monthly increase of 8.95% [3] Transaction Data - The total trading volume for gold was 6,055,194.98 kilograms, a decrease of 13.0% year-on-year, while the transaction amount reached 41,828.28 billion yuan, up 19.3% year-on-year [1] - Platinum trading volume increased significantly to 11,552 kilograms, a 227.4% year-on-year rise, with a transaction amount of 2.71 billion yuan, up 258.5% year-on-year [1] - Silver trading volume decreased by 20.7% year-on-year to 12,685,690 kilograms, but the transaction amount increased by 4.0% to 1,040.06 billion yuan [1] Price Movements - The average price of gold in the domestic market was 697.15 yuan per gram, up 17.09 yuan from the previous month [3] - The platinum contract (Pt99.95) closed at 237.66 yuan per gram, an increase of 6.78 yuan, with a monthly increase of 2.94% [3] - The silver contract (Ag (T+D)) closed at 8,485 yuan per kilogram, up 614 yuan, reflecting a monthly increase of 7.8% [3] Delivery and Outflow - The total gold delivery volume was 673,981.96 kilograms, with a physical outflow of 120,156.9 kilograms [4] - The total silver delivery volume was 3,203,160 kilograms, with a physical outflow of 114,810 kilograms [4]