（文章来源：每日经济新闻） 每经AI快讯，12月25日，贵金属期货走强，沪银涨超3%，沪金涨0.18%。 ...

Market Overview - The A-share market showed mixed performance on December 25, with the Shanghai Composite Index up by 0.29%, while the Shenzhen Component Index, ChiNext Index, and Sci-Tech Innovation 50 Index experienced declines of 0.11%, 0.37%, and 0.57% respectively [3] - The domestic precious metals market faced a significant adjustment after a period of rapid increases, with some futures contracts hitting the daily limit down [2][11] Precious Metals Sector - Palladium futures on the Guangzheng Futures Exchange experienced a rare limit down, with a drop of 9.99%, marking the first time this has occurred since its listing [11] - Platinum futures also saw a sharp decline, with intraday losses exceeding 9% before narrowing [13] - Gold futures on the Shanghai Futures Exchange adjusted with intraday declines nearing 1%, following a recent surge to historical highs [13] - Silver futures showed a significant slowdown in momentum, with the main contract previously rising over 8% [13] Related Stocks and Funds - The adjustment in precious metals prices negatively impacted related stocks and funds, leading to notable declines in the non-ferrous metals sector, with companies like Haotong Technology and Silver Industry Group experiencing significant drops [11][13] - The National Investment Silver LOF, which had previously seen remarkable gains, quickly hit the limit down after resuming trading [11] Industry Performance - The defense and military industry sector led the market with gains exceeding 2%, with stocks like Guolian Aviation hitting the daily limit up [6] - The non-bank financial sector also performed well, with companies such as Lakala and Huajin Capital seeing increases of over 5% [6] - Conversely, sectors such as telecommunications, comprehensive services, and retail experienced declines [7] New Listings - A new stock, Jiangtian Technology, debuted with a remarkable increase of over 230% by midday [7][10]

本报记者 王宁 总沉淀资金超70亿元 事实上，自铂和钯期货上市以来，投资者交投热情持续，资金量不断走高。上海文华财经资讯股份有限公司数据显示，截 至12月23日，铂期货沉淀资金量为49.6亿元，当日净流入7.55亿元；钯期货沉淀资金量为21.87亿元，当日净流入5.67亿元。综 合来看，铂和钯期货沉淀资金总量已超70亿元，相较上市初期的7.6亿元增长62.4亿元，增幅高达821%。 在中衍期货投资咨询部研究员李琦看来，铂和钯期货市场关注度和资金参与度显著提升，各路资金踊跃参与，在推动期价 走高的同时也加剧了市场波动，目前铂、钯期货对现货溢价已显著扩大，交易所也开始实施限制开仓措施，以控制市场交投过 热风险。 铂和钯期价创新高 贵金属板块在12月23日持续表现出较强走势，其中沪金2602主力合约盘终站稳1000元/克关口，沪银2602主力合约报收于 16441元/千克，两个合约全天涨幅分别为2.73%、4.3%。作为贵金属成员的铂和钯期货同样呈现走强态势，其中，铂2606主力 合约报收于619.95元/克，钯2606主力合约报收于532.55元/克，两个品种均创出上市以来新高。 银河期货研究所铂钯研究员袁正对记 ...

【环球网财经综合报道】北京时间12月20日凌晨，国际贵金属期货普遍收涨，COMEX黄金期货涨0.1% 报4368.7美元/盎司，周涨0.93%，COMEX白银期货涨3.34%报67.395美元/盎司，刷新历史新高，周涨 8.69%。 市场分析人士认为，受美国11月CPI低于预期强化降息预期提振避险需求的影响，白银因工业需求旺盛 与ETF资金流入创历史新高。 广发期货此前发布报告认为，今年COMEX白银市场出现大规模的实物交割需求越超往年的情况，合约 在交割月的首周后仍有较多未了结的头寸，而当前伦敦白银拆借和租赁利率再度抬头升至7%以上为10 月末以来的高位，空头获得实物的成本增加，进一步表明履约的困难，这也成为多头持续看好银价上涨 的理由。 报告还提到，全球最大白银ETF SLV基金持仓达到16000吨以上创约三年半新高，其他白银ETF的持仓 亦有上升，资金流入速度在价格不断创新高的情况下并未放缓。 ...

格隆汇12月20日｜周五（12月19日）纽约尾盘，现货白银涨2.59%，报67.1670美元/盎司，本周累计上 涨8.40%，12月20日北京时间02:12刷新历史高位至67.4595美元。COMEX白银期货涨3.31%，报67.380 美元/盎司，本周累涨8.67%，20日02:12也涨至67.680美元（在电子交易盘）创历史新高。COMEX铜期 货涨0.90%，报5.4865美元/磅，本周累涨2.59%。现货铂金涨2.60%，报1976.80美元/盎司，本周累涨 13.13%，整体持续走高；现货钯金涨1.30%，报1714.89美元/盎司，本周累涨14.79%，走势与铂金一 致。 ...

Group 1 - Precious metal futures continue to rise, with platinum and Shanghai silver main contracts increasing by over 5% during the day [1]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core View - In the short - term, the market has largely priced in a 25 - basis - point Fed rate cut, and the recent rapid rise of silver prices may increase short - term correction risks. In the long - term, the US debt problem may enhance gold's appeal as a hedge against US dollar credit risks, and central bank gold purchases will provide strong support for gold prices. The suggested price ranges are: Shanghai Gold Main 2602 contract at 930 - 980 yuan/gram; Shanghai Silver Main 2602 contract at 13300 - 14500 yuan/kilogram; London Gold at 4100 - 4300 US dollars/ounce; London Silver at 58 - 62 US dollars/ounce [2]. 3. Summary by Relevant Catalogs 3.1 Futures Market - **Prices**: The closing price of the Shanghai Gold main contract was 956.400 yuan/gram, up 4.9 yuan; the closing price of the Shanghai Silver main contract was 14373 yuan/kilogram, up 766 yuan [2]. - **Positions**: The position of the Shanghai Gold main contract was 192,659.00 lots, down 1834 lots; the position of the Shanghai Silver main contract was 8,972.00 lots, down 9632 lots [2]. - **Volumes**: The trading volume of the Shanghai Gold main contract was 222,609.00 lots, down 6955 lots; the trading volume of the Shanghai Silver main contract was 1,814,842.00 lots, up 505812 lots [2]. - **Warehouse Receipts**: The warehouse receipt quantity of Shanghai Gold was 91299 kilograms, unchanged; the warehouse receipt quantity of Shanghai Silver was 741,845 kilograms, up 24057 kilograms [2]. 3.2 Spot Market - **Spot Prices**: The spot price of gold on the Shanghai Gold Exchange was 950.91 yuan, up 3.78 yuan; the spot price of Huatong No.1 silver was 14,276.00 yuan, up 646 yuan [2]. - **Basis**: The basis of the Shanghai Gold main contract was - 5.49 yuan/gram, down 1.08 yuan; the basis of the Shanghai Silver main contract was - 97.00 yuan/gram, down 120 yuan [2]. - **ETF Holdings**: The SPDR Gold ETF holdings were 1047.97 tons, down 1.14 tons; the SLV Silver ETF holdings were 15,973.16 tons, up 84.62 tons [2]. 3.3 Supply and Demand - **CFTC Non - commercial Net Positions**: The weekly non - commercial net position of gold was 202307.00 contracts, down 2357 contracts; the weekly non - commercial net position of silver was 33,221.00 contracts, down 3898 contracts [2]. - **Supply**: The quarterly total supply of gold was 1313.07 tons, up 86.24 tons; the annual total supply of silver was 32,056.00 tons, up 482 tons [2]. - **Demand**: The quarterly total demand for gold was 1257.90 tons, up 174.15 tons; the annual total demand for silver was 35,716.00 tons, down 491 tons [2]. 3.4 Macro Data - **Indices**: The US dollar index was 99.24, up 0.14; the 10 - year US Treasury real yield was 1.92%, up 0.01%; the VIX volatility index was 16.93, up 0.27; the CBOE gold volatility index was 20.35, up 0.77; the S&P 500/gold price ratio was 1.63, down 0.01; the gold - silver ratio was 71.60, down 0.15 [2]. 3.5 Industry News - **Fed Expectations**: The Fed is expected to cut rates by 25 basis points for the third time with internal differences, and may hint at a pause. The market has highly priced in this rate cut. Kevin Hassett believes there is more room for rate cuts, and Trump will use support for significant rate cuts as a criterion for choosing the new Fed chairman [2]. - **US Economy**: US private employers added an average of 4750 jobs per week in the four weeks to November 22, ending four - week job losses. US job openings in October were 7.67 million, far exceeding the expected 7.117 million [2]. - **Japan's Central Bank**: The Bank of Japan will continue to gradually adjust monetary easing until it achieves 2% inflation and the policy rate returns to the natural rate. It will increase bond purchases in "special cases" [2].

贵金属期货日报 2025/12/9 | 项目类别 | 数据指标 最新 | 最新 | 环比 数据指标 | | 环比 | | --- | --- | --- | --- | --- | --- | | | 沪金主力合约收盘价（日，元/克） 13607 | 951.540 | -7.2↓ 沪银主力合约收盘价（日，元/千克） | | -99.00↓ | | 期货市场 | 主力合约持仓量:沪金(日,手) 18,604.00 | 194,493.00 | -2700.00↓ 主力合约持仓量:沪银(日,手) | | -1582.00↓ | | | 主力合约成交量:沪金 1,309,030.00 | 229,564.00 | -68667.00↓ 主力合约成交量:沪银 | | -724701.00↓ | | | 仓单数量:沪金(日,千克) | 91299 | 0↑ 仓单数量:沪银(日,千克) | 717,788 | 18497↑ | | 现货市场 | 上金所黄金现货价 | 947.13 | -6.97↓ 华通一号白银现货价 | 13,630.00 | 49.00↑ | | | 沪金主力合约基差(日,元/克) | -4.41 ...

贵金属期货日报 2025/12/8 研究员： 廖宏斌 期货从业资格号F30825507 期货投资咨询从业证书号Z0020723 | 项目类别 | 数据指标 最新 | 最新 | 环比 数据指标 | | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 沪金主力合约收盘价（日，元/克） 13706 | 958.700 | -2.3↓ 沪银主力合约收盘价（日，元/千克） | | +19.00↑ | | | 主力合约持仓量:沪金(日,手) | 197,193.00 | +240.00↑ 主力合约持仓量:沪银(日,手) | 20,186.00 | -5376.00↓ | | | 主力合约成交量:沪金 | 298,231.00 | +60534.00↑ 主力合约成交量:沪银 | 2,033,731.00 | +329517.00↑ | | | 仓单数量:沪金(日,千克) | 91299 | 0↑ 仓单数量:沪银(日,千克) | 699,291 | 11335↑ | | 现货市场 | 上金所黄金现货价 | 954.10 | -2.40↓ 华通一号白银现货价 | 13,5 ...

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]