Group 1 - The core viewpoint of the article indicates that gold and silver prices remained relatively stable, with gold trading at approximately $4207.07 per ounce and silver at $58.4880 per ounce [1] - COMEX gold futures increased by 0.44%, reaching $4239.30 per ounce, while trading within a range of $4273.30 to $4225.10 [1] - COMEX silver futures rose by 0.49%, priced at $58.990 per ounce, with a trading range of $58.210 to $59.655 [1] Group 2 - COMEX copper futures saw a significant increase of 2.87%, trading at $5.3935 per pound, maintaining a strong upward trend [1] - Spot platinum prices increased by 1.98%, while palladium prices experienced a slight decline of 0.40% [1]

Core Viewpoint - Jinchuan Group Copper Precious Metals Co., Ltd. has successfully passed the qualification review by the Guangzhou Futures Exchange, officially obtaining the brand registration and delivery warehouse qualification certification for platinum and palladium futures, marking it as one of the first companies in the country to achieve this dual qualification, which signifies authoritative recognition of its comprehensive strength in the precious metals futures sector [1][3]. Group 1 - The Guangzhou Futures Exchange is the first mixed-ownership exchange approved by the State Council, and the platinum and palladium futures products it offers are important financial tools for risk management in the precious metals industry and for supporting high-quality development of the real economy [3]. - Obtaining the platinum and palladium futures brand registration and delivery warehouse qualification certification requires passing strict assessments across multiple dimensions, including production capacity, product quality standards, storage management levels, and risk prevention systems, serving as a dual authoritative endorsement of the company's industrial foundation and compliance operational capabilities in the precious metals field [3][5]. Group 2 - Following the qualification, Jinchuan Copper Precious Metals will officially integrate into the Guangzhou Futures Exchange's platinum and palladium futures trading and delivery system, enabling it to conduct standard warehouse receipt generation, delivery storage, and rights transfer related to platinum and palladium futures [7]. - This integration will not only provide standardized futures delivery services for itself and upstream and downstream enterprises in the industry chain, helping to lock in operational risks and stabilize profit margins, but will also leverage the resources of the Guangzhou Futures Exchange to promote standardized and regulated development of precious metals trade circulation in Gansu Province and the Northwest region [7][9]. Group 3 - Jinchuan Group Copper Precious Metals Co., Ltd. will collaborate with the Guangzhou Futures Exchange and industry partners to deepen the integration of precious metals futures with the real economy, jointly building a network of delivery warehouses that serve as logistics channels and consumption distribution centers [9]. - This initiative aims to break down geographical barriers in spot delivery and enhance logistics turnover vitality, creating a hub for production, processing, and trade industries, thereby promoting the development of strategic emerging industries and forming an industrial circle that realizes multi-level connectivity between futures and spot markets, as well as between goods and finance [9].

Report Summary 1. Report Industry Investment Rating - The rating for precious metal futures is oscillating with a bullish bias, and the medium - term trends may diverge [2] 2. Core View of the Report - After a weekly - level market correction, precious metals started a new upward trend, with silver's increase and momentum significantly greater than that of gold [2] - The end of the US federal government shutdown, the US stock, bond, and foreign exchange markets' decline, and the potential Fed rate cuts all impact the precious metal market [2] - The "pause" in Sino - US trade contradictions has cooled market risk - aversion sentiment, resulting in insufficient upward momentum for gold [2] - The Trump administration's "tariff refund" plan, with a cost of up to $600 billion, far exceeding the expected tariff revenue of about $300 billion, and the strong call for Fed rate cuts may lead to a divergence in the trends of gold and silver [3] 3. Summary by Relevant Catalogs 3.1 Market Review and Outlook - Precious metals resumed their upward trend after a correction, and silver outperformed gold. The end of the government shutdown, Sino - US trade situation, and Fed rate - cut expectations all affect the market [2][3] 3.2 Factors to Watch - Key factors include Fed rate - cut expectations, international geopolitics, and better - than - expected US economic data [4] 3.3 Data Presentations - Multiple charts present data on precious metal futures, including internal and external prices, trading volume, and positions of gold and silver futures; dollar index, US interest rates, and their relationship with gold prices; various US macroeconomic data; and fund positions and price ratios of precious metals [5][11][15]

Core Viewpoint - Domestic precious metal futures continue to rise, with significant increases in both silver and gold contracts [1] Group 1: Market Performance - The main silver contract on the Shanghai Futures Exchange increased by over 3%, currently priced at 12,295 yuan per kilogram [1] - The main gold contract on the Shanghai Futures Exchange rose by over 1%, currently priced at 956.12 yuan per gram [1]

Core Viewpoint - Domestic precious metal futures have continued to rise in the night session, with significant increases in both silver and gold contracts [1] Group 1: Market Performance - The main silver contract on the Shanghai Futures Exchange has increased by over 3%, currently priced at 12,295 yuan per kilogram [1] - The main gold contract on the Shanghai Futures Exchange has risen by over 1%, currently priced at 956.12 yuan per gram [1]

Group 1 - Precious metal futures experienced a short-term decline on November 4, with silver futures dropping by 2.00%, currently priced at 11,131.00 yuan per kilogram [1] - Gold futures also saw a decrease, with a decline of 1.47%, currently priced at 905.98 yuan per gram [1]

Group 1 - Precious metal futures continue to decline, with Shanghai gold futures dropping nearly 2% and Shanghai silver futures falling over 2.3% [1]

Group 1 - The core viewpoint of the article indicates a significant decline in precious metals and copper futures as of October 21, with notable drops in prices across various commodities [1] Group 2 - Spot gold decreased by 5.18%, settling at $4130.41 per ounce, while COMEX gold futures fell by 4.94% to $4144.10 per ounce [1] - The Philadelphia Gold and Silver Index dropped by 9.57%, closing at 283.99 points, experiencing a gap down and subsequent low-level fluctuations throughout the day [1] - The NYSE ARCA Gold Miners Index fell by 8%, ending at 2058.21 points, showing similar low-level trading patterns after a gap down [1] - Spot silver saw a decline of 7.16%, priced at $48.7050 per ounce, with COMEX silver futures down by 6.37% to $48.110 per ounce [1] - COMEX copper futures decreased by 1.60%, reaching $4.9555 per pound [1] - Spot platinum fell by 5.19%, priced at $1547.78 per ounce, while spot palladium dropped by 6% to $1416.01 per ounce [1]

Core Viewpoint - Domestic precious metal futures have declined, with Shanghai Gold futures dropping over 2% and Shanghai Silver futures falling over 4.5% on October 17 [1] Group 1 - Shanghai Gold futures experienced a decline of more than 2% [1] - Shanghai Silver futures saw a decrease exceeding 4.5% [1]

Core Insights - Domestic precious metal futures have seen a significant increase, with Shanghai gold futures rising over 1.5% and Shanghai silver futures increasing nearly 1.8% on October 16 [1]. Group 1 - The rise in precious metal futures indicates a bullish trend in the market [1].