Market Overview - The market experienced a day of volatility with the ChiNext Index and Shenzhen Component Index both falling over 1% [1] - The Shanghai Composite Index closed down 0.75%, while the Shenzhen Component Index and ChiNext Index fell by 1.10% and 1.13% respectively [1] - Over 4,400 stocks declined, with total trading volume in the Shanghai and Shenzhen markets reaching 1.47 trillion yuan, an increase of 195.5 billion yuan from the previous trading day [1] Sector Performance - Sectors such as precious metals, oil and petrochemicals, nuclear pollution prevention, and military industries saw significant gains, while beauty care, film and television, IP economy, and diversified finance sectors experienced notable declines [1] - The top three performing industry indices were oil and gas extraction and services (+8.89%), precious metals (+5.14%), and military equipment (+3.21%) [7][8] Oil and Gas Sector - Oil prices surged, with Brent crude oil rising over 13% during the day [9] - Factors contributing to the rise include escalating tensions in the Middle East and slow progress in Russia-Ukraine negotiations, leading to a bullish outlook on oil prices [11] - Analysts suggest that the long-term supply-demand imbalance in the oil market may sustain high oil prices for an extended period [11] Precious Metals Sector - The rise in gold prices has positively impacted related sectors, with expectations for continued upward momentum [12] - Analysts believe that the domestic gold mining sector is significantly undervalued, presenting potential for revaluation [14] Military Industry Sector - The military sector is expected to benefit from increased global military spending and ongoing domestic defense modernization efforts [15] - Key areas of strength include military trade concepts, aerospace equipment, and military electronics [15] Market Sentiment - Despite the day's declines, there was some market support observed, indicating a potential for recovery in the near term [19] - The overall market volatility was less severe compared to earlier in the week, suggesting a stable underlying market structure [21]

Group 1 - Israel launched airstrikes against Iran, targeting nuclear and military facilities, leading to a significant rise in oil prices, with U.S. crude oil up over 6% and Brent crude up over 5% [1][2] - The geopolitical tensions have caused a surge in gold prices, with gold ETFs also experiencing notable increases, reflecting heightened demand for safe-haven assets [1][4] - Global central banks have been purchasing gold at a record pace, with over 1000 tons acquired annually for three consecutive years, indicating a shift in reserve asset preferences [3][6] Group 2 - The recent airstrikes and ongoing geopolitical conflicts have created uncertainty in the oil market, with traders anticipating potential disruptions in oil production [2][6] - The U.S. CPI data shows a modest increase, suggesting short-term inflation concerns may ease, but longer-term uncertainties remain due to geopolitical tensions and tariff policies [7] - China's central bank continues to increase its gold reserves, reflecting a broader trend of diversifying asset holdings amid global economic uncertainties [6][7]

据央视新闻援引伊朗国家电视台13日报道说，以色列当天凌晨袭击了位于伊朗中部伊斯法罕 省纳坦兹的核设施， 目前"没有核污染的迹象"。 另据央视新闻援引伊朗官方通讯社报道，位于纳坦兹的核设施当天发生爆炸。 当地时间13日，伊朗宣布关闭该国领空，直至另行通知。 据央视新闻援引伊朗塔司尼姆通讯社报道， 伊朗核科学家穆罕默德·马赫迪·塔赫兰奇、法里顿 ·阿巴斯遭以色列袭击身亡。 据央视新闻援引路透社报道称，伊朗最高领袖哈梅内伊安然无恙，已听取遭以色列袭击后的 局势简报。 当地时间13日， 伊朗武装部队发言人称，以色列将付出"沉重代价"。 当天，以空军对伊朗境 内数十个与核计划和其他军事设施相关的目标发动空袭。 来源丨央视新闻 本期编辑 黎雨桐 突发！以色列发动袭击，伊朗多省传出爆炸声、武装部队总参谋长遭暗杀，金价油价飙升 伊朗伊斯兰革命卫队总司令被以色列暗杀 SFC 21君荐读 据央视新闻援引伊朗伊斯兰共和国通讯社13日报道，伊朗将对以色列袭击作出"决定性"回 应。报道援引一名消息人士的话说，伊朗将对13日以色列的袭击行动作出果断回应，伊朗的 回应将是"决定性"的。 据央视新闻报道，当地时间6月13日，以色列方面称， ...

据新华社援引伊朗伊斯兰共和国广播电视台13日报道称，伊朗伊斯兰革命卫队总司令侯赛因· 萨拉米13日凌晨被以色列暗杀。这一消息尚未被官方证实。 本期编辑 黎雨桐 突发！以色列发动袭击，伊朗多省传出爆炸声、武装部队总参谋长遭暗杀，金价油价飙升 SFC 21君荐读 来源丨新华社 ...

Group 1 - Israel's Defense Minister announced that Israel has launched a preemptive strike against Iran, expecting missile and drone attacks in response [1][4][5] - The Israeli military confirmed that it targeted dozens of facilities related to Iran's nuclear program, and the operation is named "Lion's Strength" [2][5][7] - Israel's Prime Minister stated that the military actions against Iran will continue for several days [3] Group 2 - Following the strikes, explosions were reported in Tehran and several western provinces of Iran [2] - The Israeli government declared a nationwide state of emergency due to the military actions against Iran [8] - The U.S. Secretary of State indicated that the U.S. is not participating in Israel's actions and is focused on protecting American forces in the region [6] Group 3 - Financial markets reacted negatively, with U.S. stock index futures dropping significantly: Nasdaq futures down 1.54%, S&P 500 futures down 1.36%, and Dow futures down 1.2% [12][13] - Asian markets also declined, with the Nikkei 225 index falling over 1% and the Korean Composite Index down 0.83% [12][14] - Gold prices surged, reaching a peak of $3420 per ounce before settling at $3418.23, reflecting a nearly 1% increase [10][11][14]

Core Viewpoint - The article emphasizes the importance of balancing offensive and defensive assets in investment portfolios, particularly during uncertain market conditions. Defensive assets serve as a "stabilizing force" to protect investors' wealth amidst market volatility [2][32]. Group 1: Understanding Defensive Assets - Defensive assets are categorized as those that maintain stable intrinsic value and exhibit lower price volatility during market fluctuations, contrasting with risk assets that are more sensitive to market changes [4]. - The two primary functions of defensive assets are to reduce portfolio volatility and provide high credit quality and liquidity, ensuring stable cash flow during market downturns [4]. Group 2: Types of Defensive Assets - **Cash and Cash Equivalents**: High safety and liquidity, including money market funds that can be accessed anytime without fees [6][8]. - **Bond Assets**: Fixed income with potential for interest and price appreciation, with government bonds offering more stability than corporate bonds [10][11]. - **Dividend Assets**: Provide regular cash flow through dividends, performing well in bear markets and benefiting from valuation recovery in bull markets [14][15]. - **Gold**: Recognized as a "safe haven" asset during crises, maintaining value better than fiat currencies [16][18]. - **Commodities**: Stable demand and serve as a hedge against inflation, with specific commodities like oil and metals being particularly relevant during supply disruptions [20][21]. Group 3: Performance of Defensive Assets in Different Scenarios - **Economic Deflation**: Bond assets perform best due to liquidity and declining interest rates, while commodities lag [24][26]. - **Stagflation**: Commodities excel as inflation rises, while bonds struggle due to tightening monetary policy [28]. - **Geopolitical Conflicts**: Gold prices tend to rise significantly during conflicts, reflecting its status as a hard currency [30][31]. Group 4: Conclusion - In the current complex investment landscape, incorporating defensive assets into portfolios is essential. Diversifying across different types of defensive assets can enhance overall portfolio resilience [32].

Group 1 - Gold has become the second largest reserve asset for global central banks, surpassing the euro, driven by record purchasing volumes and rising prices [1][4] - The European Central Bank reports that gold reserves have reached 36,000 tons, comparable to levels seen in 1965, with gold expected to account for 20% of global official reserves by 2024 [2][3] - Central banks are expected to continue purchasing over 1,000 tons of gold annually, representing 20% of global annual production, with significant purchases from countries like China, India, Turkey, and Poland [4] Group 2 - Gold prices are currently fluctuating, influenced by geopolitical conflicts and economic uncertainty, with market sentiment cautious ahead of U.S. inflation data [5] - The trend of de-dollarization has accelerated since the Russia-Ukraine conflict, with central banks increasingly viewing gold as a hedge against sanctions and geopolitical risks [5] - Wells Fargo predicts that uncertainties will drive gold prices higher, with expectations of a price drop to $3,000-$3,200 per ounce by year-end, followed by a rise to $3,600 by the end of 2026 [6][7]

Group 1 - The core viewpoint is that gold prices are expected to benefit from ongoing geopolitical conflicts and economic uncertainty, with predictions of reaching historical highs by 2026 [3] - Analysts suggest that the significant adjustments in commodity prices create attractive opportunities for economic improvement later this year and in 2026, particularly in cyclical sectors [3] - There is a recommendation for investors to shift towards sectors that may benefit from macroeconomic improvements, such as energy and precious metals [3] Group 2 - Current technical analysis indicates that spot gold has shown slight increases but is forming a bearish flag pattern, suggesting continued selling pressure [4] - The price is being suppressed by the EMA50, and the RSI indicator shows a divergence, reinforcing the likelihood of a continued downward trend [5]

Core Insights - The global precious metals market in 2025 is influenced by geopolitical tensions, with ongoing conflicts in Ukraine and the Middle East driving demand for gold as a safe haven [1] - The Federal Reserve's monetary policy shift, including a reduction in the scale of Treasury bonds, has heightened market volatility and concerns over "stagflation" risks [1] - Central banks are expected to continue purchasing gold, with the World Gold Council reporting that global central bank gold purchases will exceed 1,000 tons for the third consecutive year, and China's gold reserves have increased to 73.61 million ounces [1] Market Dynamics - Geopolitical events, such as the occupation of mining areas in the Democratic Republic of Congo and trade tensions from U.S. tariffs, are creating ripples in the market [3] - The Federal Reserve's interest rate decisions are anticipated to influence market conditions, with potential rate cuts in the coming years, although a resilient job market may delay easing [3] - Industrial demand for gold and silver is expected to surge, with gold applications in semiconductor packaging and aerospace materials doubling since 2020, and silver demand driven by the photovoltaic industry [3] Risk Management Strategies - The company has established a robust risk management system, including a direct connection to the London Bullion Market Association (LBMA) for real-time market data [3] - The platform employs an intelligent alert system that utilizes AI algorithms to analyze key economic indicators, ensuring timely execution of trades and risk control [3] - A multi-layered technical defense system, including firewalls and SSL encryption, has been implemented to protect against market volatility [3] Compliance and Security - The company is a member of the Hong Kong Gold Exchange with AA class certification, ensuring transaction transparency and compliance with regulatory standards [3] - Client funds are stored in separate accounts at licensed banks in Hong Kong, with daily audits by PwC, ensuring high levels of security and rapid withdrawal processes [5] Investment Strategies - The platform offers various investment strategies, from beginner to advanced levels, allowing users to test trading logic with small positions and utilize trend-following strategies [5] - Advanced strategies include a diversified asset allocation approach, with a focus on gold ETFs and silver futures to enhance returns [5] - Professional-level strategies involve quantitative models and high-frequency trading to exploit price discrepancies across different exchanges [5]

2025 年 06 月 04 日 合成橡胶：估值低位，有所反弹 【基本面跟踪】 合成橡胶基本面数据 | 项目 | | 项目名称 | | 昨日数据 | 前日数据 | 变动幅度 | | --- | --- | --- | --- | --- | --- | --- | | 期货市场 | 顺丁橡胶主力 （07合约） | 日盘收盘价 成交量 | （元/吨） （手） | 10,875 133,366 | 11,145 151,323 | -270 -17957 | | | | 持仓量 | （手） | 31,557 | 28,417 | 3140 | | | | 成交额 | （万元） | 727,878 | 849,425 | -121547 | | 价差数据 | 基差 | | 山东顺丁-期货主力 | 625 | 355 | 270 | | | 月差 | | BR06-BR07 | 70 | -25 | 95 | | | 顺丁价格 | 华北顺丁 | （民营） | 11,350 | 11,450 | -100 | | | | 华东顺丁 | （民营） | 11,400 | 11,500 | -100 | | | | 华南顺丁 ...