黄金上周涨的有多凶，最终跌的就有多猛，跌麻了。上周雪崩后，今天开局又是重挫跳水400美金，大 空之下，或再探4300的关口。 今天的走势 若持续回调，跌破了4400的关口。 那么继续延续回调，新低看向4300的关口支撑。 黄金1月收官，终结了单边的步伐，而且大空疯狂下砸，多头直接遭斩杀。进入技术性调整，下方可调 整空间，可回调看向4300的区域。当然了，上方再次反弹调整，可看向5100的区域。 上周极限跳水，跌穿4700后。 今天低开，没有停止空头的脚步。 回升遇阻后，再穿4600和4500的两道关口。 下方面临4400附近，开始有所减速。 此位置附近，看能否反弹调整。 上方可看向4580的位置，再次上破，那么继续看到4700的位置承压。 当然了，处在4580下方。 我们8位数黄金团队，实操十多年能够实现稳健的85%甚至更高的准确率。同时，最低的风险，实现盈 利最大化，平均每单看到6-20个点的比较大获利空间。 CME上调保证金，继续下重手。贵金属崩了，全球股市也是哀嚎不断。 操作方面，黄金疯狂跳水，雪崩不止，继续看承压调整，关注4580和4700做空的机会。此外，黄金下方 面临关键支撑，关注4400和430 ...

1. Report Industry Investment Rating - No relevant information provided in the reports. 2. Report Core Views Nickel - Refined nickel prices are high, stimulating production, but demand is weak. The nickel - iron market has a large psychological price gap between supply and demand, and transactions are weak. Stainless - steel demand is weak, and downstream purchases of nickel - sulfate are limited. Social inventories are accumulating. Overall, nickel prices are expected to fall first and then fluctuate widely, with the main contract reference range of 135,000 - 150,000 yuan/ton [2]. Stainless Steel - Stainless - steel futures have large fluctuations. Cost support is strengthening, but demand is weak. Steel mills are reducing production, and social inventories are slightly accumulating. The market is expected to be in a shock - adjustment state in the short term, with the main contract reference range of 13,500 - 14,800 yuan/ton [5]. Lithium Carbonate - The lithium carbonate futures market was weak last week. Supply is expected to decline, and demand is relatively optimistic. Social inventories are being depleted, and upstream inventories are low. The price is expected to remain in a relatively strong range, but may fall in the short term, with the main contract reference range of 140,000 - 160,000 yuan/ton [8]. Copper - In the long - term, copper supply is restricted by capital expenditure, and demand is increasing due to AI - related grid upgrades, so the bottom price is expected to rise. In the short - term, copper prices may return to fundamental pricing under the narrowing of CL premium. Attention should be paid to CL premium changes and downstream demand, with the main contract support at 101,500 - 103,000 yuan/ton [9]. Zinc - Zinc ore shortages support prices. Although zinc ore port inventories are accumulating, smelter profits are under pressure, and demand is suppressed by high prices. The overall fundamentals are good, and the price downside is limited, with the main contract support at 25,000 - 25,500 yuan/ton [13]. Tin - In the short - term, tin prices fluctuate greatly due to market sentiment. In the long - term, due to the low elasticity of supply and the long - term narrative of the AI arms race, a low - buying strategy is recommended [14]. Aluminum Alloy - The casting aluminum alloy market has high price fluctuations. The cost is the main driving factor, and the supply - demand is seasonally weak. It is expected that the ADC12 price will fluctuate in a high - level range, with the main contract reference range of 22,000 - 24,000 yuan/ton [15]. Aluminum - Aluminum prices have risen sharply, driven by macro - factors and geopolitical risks, but have deviated from fundamentals. High prices suppress downstream demand, and inventories are increasing. It is recommended to wait for price stabilization and volatility decline before going long, with price support at 23,000 - 23,500 yuan/ton [16]. Industrial Silicon - In January, the supply and demand of industrial silicon weakened slightly, and it will continue in February. Supply is expected to decline further. The price is expected to fluctuate between 8,200 - 9,200 yuan/ton, and attention should be paid to demand changes [17]. Polysilicon - In February, the supply and demand of polysilicon are weak. Production is expected to decrease, and the inventory accumulation slope is slowing down. The 45,000 yuan/ton level is expected to have support. It is recommended to wait and see and pay attention to production cuts and downstream demand recovery [18]. 3. Summaries by Relevant Catalogs Price and Basis - **Nickel**: SMM 1 electrolytic nickel price decreased by 1.25% to 146,150 yuan/ton; the import profit and loss of futures decreased by 515.79% to - 1,638 yuan/ton [2]. - **Stainless Steel**: 304/2B (Wuxi Hongwang 2.0 roll) price decreased by 0.69% to 14,400 yuan/ton; the spot - futures price difference increased by 405.88% to 430 yuan/ton [5]. - **Lithium Carbonate**: SMM battery - grade lithium carbonate average price decreased by 4.46% to 160,500 yuan/ton; the basis increased by 286.79% to 12,300 yuan/ton [8]. - **Copper**: SMM 1 electrolytic copper price increased by 0.22% to 104,410 yuan/ton; the refined - scrap price difference decreased by 45.25% to 3,631 yuan/ton [9]. - **Zinc**: SMM 0 zinc ingot price increased by 1.98% to 25,790 yuan/ton; the import profit and loss increased by 317 yuan/ton to - 2,126 yuan/ton [13]. - **Tin**: SMM 1 tin price decreased by 2.27% to 428,650 yuan/ton; the import profit and loss increased by 4.65% to - 10,538.60 yuan/ton [14]. - **Aluminum Alloy**: SMM aluminum alloy ADC12 price decreased by 0.81% to 24,350 yuan/ton; the refined - scrap price difference of Foshan broken primary aluminum increased by 16.73% to 3,174 yuan/ton [15]. - **Aluminum**: SMM A00 aluminum price decreased by 0.80% to 24,660 yuan/ton; the electrolytic aluminum import profit and loss increased by 302.8 yuan/ton to - 1,779 yuan/ton [16]. - **Industrial Silicon**: The price of East China oxygen - passing SI5530 industrial silicon remained unchanged at 9,250 yuan/ton; the basis decreased by 183.33% to - 75 yuan/ton [17]. - **Polysilicon**: The average price of N - type re - feed material decreased by 2.29% to 51,300 yuan/kg; the N - type material basis increased by 31.44% to 4,160 yuan/ton [18]. Month - to - Month Price Difference - **Nickel**: 2602 - 2603 decreased by 390 yuan/ton to - 90 yuan/ton [2]. - **Stainless Steel**: 2602 - 2603 decreased by 155 yuan/ton to - 275 yuan/ton [5]. - **Lithium Carbonate**: 2602 - 2603 increased by 200 yuan/ton to - 780 yuan/ton [8]. - **Copper**: 2602 - 2603 decreased by 70 yuan/ton to - 270 yuan/ton [9]. - **Zinc**: 2602 - 2603 decreased by 10 yuan/ton to - 50 yuan/ton [13]. - **Tin**: 2602 - 2603 decreased by 50 yuan/ton to - 1,000 yuan/ton [14]. - **Aluminum Alloy**: 2602 - 2603 increased by 20 yuan/ton to - 80 yuan/ton [15]. - **Aluminum**: AL 2602 - 2603 increased by 245 yuan/ton to 110 yuan/ton [16]. - **Industrial Silicon**: The main contract increased by 1.88% to 8,955 yuan/ton; the difference between the current month and the first - following month decreased by 5 yuan/ton to - 45 yuan/ton [17]. - **Polysilicon**: The difference between the current month and the first - following month decreased by 775 yuan/ton to - 1,230 yuan/ton [18]. Supply and Demand and Inventory - **Nickel**: China's refined nickel production increased by 26.10% to 31,400 tons; SHFE inventory increased by 9.06% to 25,396 tons [2]. - **Stainless Steel**: China's 300 - series stainless - steel crude steel production increased by 0.92% to 176.32 million tons; 300 - series social inventory (Wuxi + Foshan) increased by 0.82% to 45.77 million tons [5]. - **Lithium Carbonate**: In December, lithium carbonate production decreased by 1.31% to 99,200 tons; total lithium carbonate inventory decreased by 12.23% to 64,560 tons [8]. - **Copper**: In January, electrolytic copper production increased by 0.10% to 117.93 million tons; domestic mainstream port copper concentrate inventory decreased by 6.85% to 67.33 million tons [9]. - **Zinc**: In January, refined zinc production increased by 1.54% to 56.06 million tons; China's seven - region zinc ingot social inventory decreased by 1.35% to 11.72 million tons [13]. - **Tin**: In December, tin ore imports remained unchanged at 17,637 tons; SHFE inventory increased by 7.70% to 10,468 tons [14]. - **Aluminum Alloy**: In December, recycled aluminum alloy ingot production decreased by 6.16% to 64 million tons; recycled aluminum alloy weekly social inventory decreased by 2.11% to 4.64 million tons [15]. - **Aluminum**: In January, alumina production decreased by 1.78% to 738.56 million tons; China's electrolytic aluminum social inventory increased by 5.25% to 78.2 million tons [16]. - **Industrial Silicon**: National industrial silicon production decreased by 1.15% to 39.71 million tons; social inventory decreased by 0.36% to 55.4 million tons [17]. - **Polysilicon**: Weekly polysilicon production decreased by 12.73% to 10.08 million tons; polysilicon inventory increased by 0.91% to 33.3 million tons [18].

芝商所在声明中表示，此次保证金比例上调将分两阶段实施，2月2日起先上调15%，2月5日起完成剩余 5%-10%的上调，覆盖黄金、白银所有期限的期货合约。声明强调，上调保证金并非看空贵金属市场， 而是基于当前市场高波动环境的审慎调控，后续将根据市场走势动态调整保证金比例，保障市场平稳运 行。 业内分析认为，芝商所上调保证金将直接抑制贵金属期货市场的杠杆交易，缓解市场波动幅度，但短期 内可能导致投机资金撤离，进一步压制金价、银价走势。机构人士表示，当前贵金属市场的核心矛盾仍 是美联储政策预期，若沃什顺利当选美联储主席，鹰派货币政策可能持续，贵金属长期承压；但地缘政 治紧张局势及全球去美元化趋势，仍为贵金属提供长期支撑。业内提醒，普通投资者应理性看待市场波 动，避免盲目抄底，合理控制仓位风险。 AI生成 据悉，此次保证金上调源于近期贵金属市场的剧烈震荡。2月1日前，受特朗普提名鹰派人物凯文·沃什 为美联储主席候选人影响，全球贵金属遭遇恐慌性抛售，现货黄金单日暴跌13%，白银单日跌幅超35% 创历史纪录，伦敦金现货价格一度跌破4885美元/盎司。尽管2月1日黄金出现技术性反弹，较前日低点 回升约4%，但市场恐慌情绪尚 ...

周内（1月26日至1月30日），大宗商品市场分化加剧。基本金属板块涨跌不一，贵金属板块冲高回落。 具体来看，能源化工板块，燃油周上涨6.70%、原油上涨6.54%；黑色系板块，焦煤周下跌0.13%、焦炭 下跌0.03%、铁矿石下跌0.44%；基本金属板块，碳酸锂周下跌18.36%、沪锌上涨5.08%、沪镍下跌 5.63%；贵金属板块，沪金周上涨4.10%、沪银上涨11.92%；农产品板块，鸡蛋周下跌1.44%、生猪下跌 2.98%。 交易行情热点 南方财经记者 翁榕涛 实习生 胡剑铭 热点一：投机情绪降温，黄金冲高后大幅回落 本周黄金期货市场经历剧烈波动，前期受地缘避险情绪推动创下历史新高后，因美联储政策预期生变大 幅回调。截至1月30日，沪金主力2604合约报1161.42元/克，周涨4.10%；伦敦金收于4880美元/盎司，周 跌2.07%，日内最大跌幅达9.29%，创40年来最大单日跌幅。 供给上，全球黄金供应保持稳定，矿山产量与回收量稳步释放，未出现明显缺口。2025年全球黄金总需 求达5002吨创历史新高，但供应端未出现大幅波动，供需格局相对均衡。央行售金规模有限，新兴国家 央行延续购金态势，进一步 ...

Core Viewpoint - Gold prices have experienced a significant decline after a strong rally, with the April gold futures price dropping below $4,800 per ounce, marking a decline of over 10% [1]. Price Movements - On January 30, the spot gold price fell by more than 12%, reaching a low of $4,682 per ounce, and closed down 9.25% at $4,880.03 per ounce [1]. - The domestic gold jewelry prices have also been adjusted downward, with most products seeing a price drop of around 80 yuan per gram within two days [1]. - Major gold brands in China, such as Chow Tai Fook and Chow Sang Sang, reported significant price drops, with Chow Tai Fook's gold price falling from 1,706 yuan per gram on January 29 to 1,625 yuan per gram on January 31, a decrease of 81 yuan over two days [11]. Market Sentiment - Consumers are reacting to the price drop by purchasing gold, with reports of long queues at gold recycling centers and increased buying activity in investment gold bars [1][3][6]. - A consumer in Beijing spent over 200,000 yuan to buy 200 grams of gold, expressing confidence in gold as a long-term investment despite short-term price fluctuations [3]. - In Nanchang, consumers are also eager to buy gold, fearing further price increases, with one individual stating they were ready to spend tens of thousands of yuan due to the recent price drop [6]. Market Analysis - The recent drop in gold prices is attributed to an overheated market, with volatility nearing historical extremes and speculative funds showing signs of profit-taking [14][15]. - The gold price's steep ascent has been rare, with monthly increases exceeding 20% being historically uncommon since 1968 [15]. - The market is currently characterized by a cautious short-term outlook but maintains a long-term optimistic view on gold prices [14]. Regulatory Changes - Major banks, including Agricultural Bank of China and Bank of Communications, have increased risk assessment requirements for clients engaging in gold-related transactions following the recent volatility [17][19]. - Agricultural Bank has mandated that clients must have a cautious risk tolerance level or higher to participate in certain gold investment activities [17]. - Bank of Communications has adjusted its policies to allow only clients with higher risk tolerance to engage in all gold wallet services, while those with lower risk assessments face restrictions [19]. Price Forecast - Some market analysts expect gold prices to rebound, with predictions that prices could rise to around 1,500 yuan per gram during the upcoming holiday season [8].

2026年1月23日，国际黄金市场再迎历史性突破，伦敦现货黄金盘中强势站上4900美元/盎司关口，最高 触及4967.37美元/盎司，年内涨幅已逼近15%。行情快速传导至国内消费端，老庙黄金、周生生等头部 品牌足金饰报价同步走高，老庙黄金克价升至1548元，单日涨幅超50元，国内金饰市场同步进入高价区 间，折射出黄金金融属性与消费属性的双重共振。 国际金价突破4900美元，是多重长期支撑与短期催化叠加的结果。长期来看，美元信用弱化与"去美元 化"进程加速为金价提供底层支撑，美国债务高企、特朗普干预美联储独立性引发市场对美元资产的担 忧，各国央行持续增持黄金对冲风险，中国央行已连续14个月增持黄金，2025年12月末储备量达7415万 盎司，全球央行月均购金量预计2026年维持在60吨。短期催化则来自地缘风险与避险情绪，美欧贸易争 端、中东局势紧张等因素推升市场恐慌情绪，资金加速涌入黄金避险，VIX指数一度飙升至20.09，创 下去年11月以来新高。 美联储政策预期进一步强化金价涨势。市场普遍预测2026年美联储将下调基金利率50个基点，实际利率 下行降低黄金持有机会成本，推动西方黄金ETF持仓回升，全球最大黄 ...

关税战先打起来，但不会往死里整：美国 2 月 1 日加征 10% 关税大概率会落地，欧盟和欧洲国家的反 制措施也会跟着上，比如对美国的农产品、汽车加税，双方你来我往，但都会留后手 —— 毕竟欧美贸 易体量太大，真撕破脸谁都疼。美国可能会找个台阶，比如把 "买岛" 换成 "合作开发资源"，欧洲也可 能在北约北极防务上给美国点面子，比如允许美国扩大皮图菲克基地的部分权限，避免矛盾彻底失控。 军事演习加码，但都是 "秀肌肉"：丹麦会继续扩大在格陵兰的军事存在，欧洲多国的联合军演会常态 化，美国也会增加在格陵兰周边的巡逻，但双方都不会真动手。一是格陵兰自治政府明确反对任何一方 的军事强权，二是北约内部真开打等于自毁长城，俄罗斯还在旁边盯着，谁也不敢先打破平衡。最多就 是军机、军舰近距离 "伴飞""伴航"，互相威慑一下，制造点紧张氛围。 格陵兰自治政府成 "香饽饽"：美国和欧洲都会拉拢格陵兰，美国可能许诺给资源开发的巨额投资，欧 洲则会帮格陵兰提升自治能力、搞基建。格陵兰会趁机 "两头要好处"，一边坚持主权，一边拿着双方 的筹码要更多自治权，比如在资源开发上的话语权、防务上的自主空间，甚至为未来完全独立攒资本。 扰动， ...

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Views of the Report - The market will be more affected by U.S. economic data's impact on Fed policy expectations and geopolitical situations. In the short term, the influence of news will weaken, and the market will maintain a strong and volatile trend with reduced fluctuations. Gold long - positions above the 20 - day moving average can be held, and selling out - of - the - money put options can earn time value [1] - For silver, the short - term suspension of the 232 investigation tariff in the U.S. and the exchange's position - limit measures have eased capital sentiment. The price may enter a high - level consolidation phase. It is recommended to wait for the market volatility to decline and then buy on dips, or sell out - of - the money options to earn volatility - reduction returns [1] - Under the influence of strong macro and supply - demand fundamentals, platinum will fluctuate strongly in the short term but with a narrowing range. Platinum futures are recommended to be traded with high - selling and low - buying around the 20 - day moving average, with a fluctuation range of 587 - 640 yuan. Palladium performs weaker than platinum, and out - of - the money call options above 510 yuan can be sold [1] Group 3: Summary by Related Catalogs Domestic Futures Closing Prices - AU2602 contract closed at 1032.32 yuan/gram on January 16, down 2.88 yuan (-0.28%) from January 15 [1] - AG2604 contract closed at 22483 yuan/kilogram on January 16, down 182 yuan (-0.80%) from January 15 [1] - PT2606 contract closed at 610.05 yuan/gram on January 16, up 1 yuan (0.16%) from January 15 [1] - PD2606 contract closed at 469.35 yuan on January 16, down 9.25 yuan (-1.93%) from January 15 [1] Foreign Futures Closing Prices - COMEX gold主力 contract closed at 4601.10 dollars/ounce on January 16, down 19.40 dollars (-0.42%) from January 15 [1] - COMEX silver主力 contract closed at 89.05 dollars/ounce on January 16, down 2.27 dollars (-2.46%) from January 15 [1] - NYMEX platinum主力 contract closed at 2342.90 dollars/ounce on January 16, down 72.90 dollars (-3.02%) from January 15 [1] - NYMEX palladium主力 contract closed at 1846.50 dollars/ounce on January 16, down 19 dollars (-1.02%) from January 15 [1] Spot Prices - London gold was at 4599.04 dollars/ounce, down 16.48 dollars (-0.36%) from the previous value [1] - London silver was at 90.13 dollars/ounce, down 2.26 dollars (-2.45%) from the previous value [1] - Spot platinum was at 2301 dollars/ounce, down 85 dollars (-3.56%) from the previous value [1] - Spot palladium was at 1755 dollars/ounce, down 51 dollars (-2.82%) from the previous value [1] - Shanghai Gold Exchange's gold T + D was at 1031.09 yuan/gram, down 2.83 yuan (-0.27%) from the previous value [1] - Shanghai Gold Exchange's silver T + D was at 22641 yuan/kilogram, down 43 yuan (-0.19%) from the previous value [1] - Shanghai Gold Exchange's platinum 9995 was at 602 yuan/gram, up 5 yuan (0.85%) from the previous value [1] Basis - Gold TD - Shanghai gold主力 was - 1.23, up 0.05 from the previous value, with a 1 - year historical quantile of 46.10% [1] - Silver TD - Shanghai silver主力 was 158, up 139 from the previous value, with a 1 - year historical quantile of 60.60% [1] - London gold - COMEX gold was - 2.06, up 2.92 from the previous value, with a 1 - year historical quantile of 92.90% [1] - London silver - COMEX silver was 0.19, unchanged from the previous value, with a 1 - year historical quantile of 90.00% [1] Price Ratios - COMEX gold/silver was 51.15, up 1.05 (2.09%) from the previous value [1] - SHFE gold/silver was 45.92, up 0.24 (0.53%) from the previous value [1] - NYMEX platinum/palladium was 1.27, down 0.03 (-2.02%) from the previous value [1] - SHFE platinum/palladium was 1.30, up 0.03 (2.14%) from the previous value [1] Interest Rates and Exchange Rates - 10 - year U.S. Treasury yield was 4.24%, up 0.07% (1.7%) from the previous value [1] - 2 - year U.S. Treasury yield was 3.59%, up 0.03% (0.8%) from the previous value [1] - 10 - year TIPS Treasury yield was 1.91%, up 0.03% (1.6%) from the previous value [1] - U.S. dollar index was 99.37, up 0.03 (0.03%) from the previous value [1] - Offshore RMB exchange rate was 6.9674, up 0.0043 (0.06%) from the previous value [1] Inventories and Positions - SHFE gold inventory was 100053, down 99 (-0.10%) from the previous value [1] - SHFE silver inventory was 626843, down 11556 (-1.81%) from the previous value [1] - COMEX gold inventory was 36135901, up 3000 (0.01%) from the previous value [1] - COMEX silver inventory was 429156441, down 4225669 (-0.98%) from the previous value [1] - COMEX gold registered warehouse receipts were 18823797, down 14274 (-0.08%) from the previous value [1] - COMEX silver registered warehouse receipts were 120632557, down 2571966 (-2.09%) from the previous value [1] - SPDR gold ETF position was 1086, up 10.87 (1.01%) from the previous value [1] - SLV silver ETF position was 16073, up 11.28 (0.07%) from the previous value [1]

Group 1 - Gold prices (XAU/USD) have surged to the $4,700 range, reaching a new historical high due to increased global market risk aversion and a temporary correction in the US dollar [1] - The demand for gold as a traditional safe-haven asset has intensified, driven by rising market uncertainties, which has been a key factor in pushing gold prices above previous highs [1] - The recent correction in the US dollar, which peaked since December 9, has made dollar-denominated gold more attractive to global investors, further supporting the rise in gold prices [1] Group 2 - Market expectations regarding the Federal Reserve's monetary policy have shifted, with a cooling expectation for two rate cuts in 2026, potentially providing support for the dollar and limiting its decline, which could exert pressure on non-yielding gold [1] - Traders are closely monitoring the upcoming US Personal Consumption Expenditures (PCE) price index and the final GDP for the third quarter, as these indicators will influence market dynamics and the relationship between gold and the dollar [2] - The short-term upward trend in gold prices is solid, with a clear upward channel since late October, supported by technical indicators such as the MACD and RSI, although caution is advised due to the RSI nearing overbought territory [4] Group 3 - If gold prices encounter resistance at the upper channel line, the key support level will be $4,406.94, which may attract buying interest to stabilize prices [5] - A sustained breakout above the upper resistance level could lead to a continuation of the upward trend, while failure to break through may result in a consolidation within the channel [6]

Report Summary 1) Report Industry Investment Rating There is no information about the report industry investment rating in the provided content. 2) Core Viewpoints of the Report - The market may be more affected by the impact of US economic data on the Fed's policy expectations and geopolitical situation disturbances. In the short - term, the influence of news is weakening, the market maintains a relatively strong shock but the volatility declines. For gold, those holding long positions above the 20 - day moving average can continue to hold, and selling out - of - the - money put options can earn time value [1]. - For silver, the cancellation of photovoltaic export tax rebates by the country after April 1 may bring the "rush to export" effect again, advancing the demand for silver powder and intensifying the supply - structural shortage. Short - term fluctuations are still volatile, and it is recommended to maintain the idea of buying on dips with light positions, while long positions should lock in profits in time when the price is high [1]. - For platinum and palladium, due to their strong macro and supply - demand fundamentals and the fact that their prices are still undervalued compared to gold, capital promotes value reshaping. It is expected to continue to rise in the medium - and long - term. In the short - term, market speculative sentiment weakens, the volatility narrows, but it still follows the relatively strong shock of gold. It is recommended to buy platinum on dips with light positions around the 20 - day moving average [1]. 3) Summary by Relevant Catalogs Domestic Futures Closing Prices - AU2602 contract closed at 1035.20 yuan/gram on January 15, down 0.52% from the previous day [1]. - AG2604 contract closed at 22665 yuan/kilogram on January 15, down 0.43% from the previous day [1]. - PT2606 contract closed at 609.05 yuan/gram on January 15, down 2.21% from the previous day [1]. - PD2606 contract closed at 478.60 yuan/gram on January 15, down 5.25% from the previous day [1]. Foreign Futures Closing Prices - COMEX gold主力 contract closed at 4620.50 dollars/ounce on January 15, down 0.29% from the previous day [1]. - COMEX silver主力 contract closed at 92.21 dollars/ounce on January 15, down 1.05% from the previous day [1]. - NYMEX platinum主力 contract closed at 2415.80 dollars/ounce on January 15, up 0.55% from the previous day [1]. - NYMEX palladium主力 contract closed at 1865.50 dollars/ounce on January 15, down 0.90% from the previous day [1]. Spot Prices - London gold was at 4615.52 dollars/ounce on January 15, down 0.23% from the previous day [1]. - London silver was at 92.40 dollars/ounce on January 15, down 0.65% from the previous day [1]. - Spot platinum was at 2408.00 dollars/ounce on January 15, up 0.46% from the previous day [1]. - Spot palladium was at 1812.00 dollars/ounce on January 15, down 1.79% from the previous day [1]. - Shanghai Gold Exchange gold T + D was at 1033.92 yuan/gram on January 15, down 0.36% from the previous day [1]. - Shanghai Gold Exchange silver T + D was at 22684 yuan/kilogram on January 15, down 0.36% from the previous day [1]. - Shanghai Gold Exchange platinum 9995 was at 597 yuan/gram on January 15, down 0.34% from the previous day [1]. Basis - The basis of gold TD - Shanghai gold主力 was - 1.28, up 1.73 from the previous day, with a 1 - year historical quantile of 46.10% [1]. - The basis of silver TD - Shanghai silver主力 was 19, up 17 from the previous day, with a 1 - year historical quantile of 60.60% [1]. - The basis of London gold - COMEX gold was - 4.98, up 2.82 from the previous day, with a 1 - year historical quantile of 87.80% [1]. - The basis of London silver - COMEX silver was 0.19, up 0.37 from the previous day, with a 1 - year historical quantile of 90.00% [1]. Price Ratios - The ratio of COMEX gold/silver was 50.11 on January 15, up 0.77% from the previous day [1]. - The ratio of Shanghai Futures Exchange gold/silver was 45.67 on January 15, down 0.09% from the previous day [1]. - The ratio of NYMEX platinum/palladium was 1.29 on January 15, up 1.46% from the previous day [1]. - The ratio of Guangzhou Futures Exchange platinum/palladium was 1.27 on January 15, up 3.21% from the previous day [1]. Interest Rates and Exchange Rates - The 10 - year US Treasury yield was 4.17% on January 15, up 0.5% from the previous day [1]. - The 2 - year US Treasury yield was 3.56% on January 15, up 1.4% from the previous day [1]. - The 10 - year TIPS Treasury yield was 1.88% on January 15, up 1.1% from the previous day [1]. - The US dollar index was 99.34 on January 15, up 0.27% from the previous day [1]. - The offshore RMB exchange rate was 6.9631 on January 15, down 0.12% from the previous day [1]. Inventory and Positions - The Shanghai Futures Exchange gold inventory was 100152 kilograms on January 15, unchanged from the previous day [1]. - The Shanghai Futures Exchange silver inventory was 638399 kilograms on January 15, up 1.54% from the previous day [1]. - The COMEX gold inventory was 36132901 ounces on January 15, down 0.23% from the previous day [1]. - The COMEX silver inventory was 433382110 ounces on January 15, down 0.23% from the previous day [1]. - The COMEX gold registered warehouse receipts were 18838070 ounces on January 15, down 2.31% from the previous day [1]. - The COMEX silver registered warehouse receipts were 122741960 ounces on January 15, down 0.20% from the previous day [1]. - The SPDR gold ETF position was 1075 tons on January 15, up 0.05% from the previous day [1]. - The SLV silver ETF position was 16062 tons on January 15, down 1.11% from the previous day [1].