避险情绪
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【百利好非农报告】非农就业放缓 黄金延续牛市
Sou Hu Cai Jing· 2026-01-13 06:35
同时,特朗普当前的主要任务是中期选举,这意味着他极有可能将精力放在维护美国经济"内增长"上,这同样意味着特朗普需 要美联储采取宽松的政策。 非农人数不及预期 美国就业市场偏弱 美国劳工统计局报告显示,12月美国非农就业人数增加5万人,不及市场预期的增加6万人,也低于前值的增加5.6万人;12月失 业率为4.4%,略低于市场预期的4.5%。餐饮服务、医疗保障等行业就业有所增长,但零售和制造业就业显著放缓。 从时薪方面来看,12月平均时薪涨幅为0.3%,年率为3.8%,基本符合市场预期,薪资水平相对稳定,这暗示美国通胀大概率将 维持相对稳定。 另外,10月和11月非农就业人数合计下修7.6万人。值得注意的是,2025年全球非农就业人数仅增加58.4万人,平均每月仅增加 4.9万人,是自2020年以来的最弱增幅。 综合来看,美国就业市场依旧延续颓势。在通胀维持相对稳定甚至有望下行的情况下,有利于美联储维持宽松的政策预期。 经济叠加政治 宽松有望延续 一方面,以非农为代表的美国经济数据表现疲软,这需要美联储采取宽松的货币政策来刺激经济增长。 另一方面,进入新的一年,美国总统特朗普即将任命新一任美联储主席,市场预期特朗 ...
放量滞涨暗藏玄机:市场正对前期热门叙事进行“残酷筛选”
Sou Hu Cai Jing· 2026-01-13 04:28
Market Overview - A-shares are experiencing high-level fluctuations with increased trading volume, while Hong Kong stocks show resilience, indicating a shift in market dynamics [1] - As of the morning close, major A-share indices are weakly fluctuating: Shanghai Composite Index down 0.03%, Shenzhen Component down 0.31%, and ChiNext Index down 0.83% [1] - The STAR 50 Index, representing technology innovation, has the largest decline at 1.77%, indicating a deeper adjustment [1] - Trading activity is robust with a half-day turnover of 2.44 trillion yuan, significantly higher than the previous day, suggesting a divergence in market sentiment [1] Sector Performance Leading Sectors - The media sector leads with a gain of 3.42%, driven by the practical application of AI, particularly in content generation and marketing transformation [3] - The non-ferrous metals sector rises by 2.39%, influenced by heightened global risk aversion and a surge in international gold prices, reflecting concerns over the independence of U.S. Federal Reserve policies [3] - The pharmaceutical and biotechnology sector increases by 2.18%, supported by clear domestic policies favoring technological innovation and attractive valuations after a prolonged adjustment [3] Declining Sectors - The defense and military sector sees a significant drop of 4.13%, attributed to the retreat of speculative trading following risk warnings from multiple commercial space companies [4] - The electronics and communications sectors also decline, confirming a withdrawal of funds from previously high-performing growth sectors, indicating a phase of profit-taking and a shift towards lower-valued stocks [4] Market Dynamics - The current market differentiation reflects a phase of logical restructuring, with funds moving from overheated speculative themes to sectors with industrial trends, macroeconomic drivers, or safe valuation margins [4] - The market is expected to enter a consolidation phase, with rapid index increases likely coming to a halt, but structural opportunities remain active [4] Investment Focus - Investors are advised to focus on sectors with confirmed industrial trends, particularly in "AI+" applications, ensuring selection of companies with real business connections and potential for order fulfillment [4] - Resources with hedging attributes, such as gold and silver, are recommended due to their close ties to international macroeconomic sentiments [4] - The pharmaceutical and biotechnology sector, especially innovative drug supply chains resonating with Hong Kong stocks, is highlighted as an area of improvement [4]
黄金白银价格均创历史新高
Sou Hu Cai Jing· 2026-01-13 03:51
受地缘政治高度不确定影响,1月12日早盘,伦敦现货黄金价格一度突破4600美元/盎司,最高达到 4600.79美元/盎司,再创历史新高。伦敦现货白银涨近5%,逼近84美元/盎司,创下历史新高。 华安基金指数与量化投资部基金经理助理、首席黄金研究员周泓灏分析,黄金大涨背后主要受到两方面 因素推动,一是近期全球地缘冲突频发,避险资金或涌向黄金。委内瑞拉事件仍在发酵,此外伊朗与格 陵兰岛的问题均体现出较大变数,传统国际秩序趋于崩溃,避险情绪利好黄金。二是美联储独立性危机 仍在发酵。美联储主席鲍威尔11日遭刑事调查,进一步加剧了市场对政策稳定性的担忧。 中信建投期货贵金属首席分析师王彦青分析称,当前信用货币体系的动摇是支撑贵金属上涨的核心原 因。一方面从美国内部看,美国总统特朗普与美联储之间的争端正持续削弱美元的信用。美联储独立性 的动摇叠加美国财政与政府债务扩张加速均推动了去美元化的进程;另一方面从全球来看,大国博弈逐 渐白热化,国家之间不信任的增加,亦推动去美元化进程。 对于贵金属后续走势,东海期货宏观研究员明道雨认为,短期地缘因素是驱动黄金价格上涨的主要推动 力,维持黄金价格继续上行的观点。美元信用下降、全球央 ...
黄金期货突破4600美元关口!避险情绪推升金银价格,芝商所调整贵金属保证金计费方式
Jin Rong Jie· 2026-01-13 03:35
金瑞期货指出,从宏观和基本面来看,美联储货币政策宽松、利率回落的趋势并未发生改变,中长期包 括主权国家赤字问题、地缘风险以及去美元化驱动的央行购金等因素并未改变,白银的供需矛盾也持续 存在,贵金属价格的长期核心驱动因素仍保持稳健。 西南期货认为,当前全球贸易金融环境错综复杂,"逆全球化"和"去美元化"的大趋势,利好黄金的配置 价值和避险价值。各国央行的购金行为对黄金走势也形成了支撑。但近期贵金属大幅上涨,投机情绪显 著升温。预计市场波动将显著放大,多单可离场后暂且观望。 期货频道更多独家策划、专家专栏,免费查阅>> 责任编辑:栎树 当地时间1月8日,芝商所也发出通知称,将于1月9日盘后全面上调黄金、白银、铂金、钯金期货品种的 履约保证金,同时大部分天然气合约的保证金将被下调。 另外,芝商所还分别在2025年12月29日、12月31日两次上调黄金、白银等期货合约的保证金。 在芝商所上调保证金的背后,金银等贵金属当前正处于高波动状态。以金价为例,受美联储降息预期升 温、地缘政治局势错综复杂、全球去美元化趋势走强等因素影响,截至1月12日,COMEX黄金盘中突 破4600美元/盎司关口,续创历史新高。 当地时间1月 ...
港股异动 | 避险情绪升温支撑金价 中国黄金国际(02099)涨超6% 灵宝黄金(03330)涨超4%
智通财经网· 2026-01-13 02:44
Group 1 - The majority of gold stocks have risen, with China Gold International (02099) up 6.1% to HKD 177.3, Lingbao Gold (03330) up 4.4% to HKD 21.36, Zijin Mining International (02259) up 3.59% to HKD 158.5, and Chifeng Jilong Gold Mining (06693) up 2.52% to HKD 30.96 [1] - There is a significant increase in risk aversion, with gold prices surpassing USD 4600 for the first time, setting a new historical high [1] - Citigroup predicts that gold prices will reach USD 5000 per ounce and silver prices will reach USD 100 within three months [1] Group 2 - The market is closely monitoring the situation in Iran, where protests have led to unrest and casualties among security personnel and civilians [1] - The U.S. State Department has advised American citizens to leave Iran immediately due to the escalating tensions [1] - Concerns about the independence of the Federal Reserve have been raised following the investigation of Jerome Powell [1]
避险情绪升温支撑金价 中国黄金国际涨超6% 灵宝黄金涨超4%
Zhi Tong Cai Jing· 2026-01-13 02:33
Group 1 - The core viewpoint of the article highlights a significant rise in gold stocks, driven by increased risk aversion and geopolitical tensions, with gold prices reaching a historic high of over $4600 per ounce [1] - Major gold companies such as China Gold International, Lingbao Gold, Zijin Mining International, and Chifeng Jilong Gold have seen their stock prices increase, with China Gold International rising by 6.1% to HKD 177.3, Lingbao Gold by 4.4% to HKD 21.36, Zijin Mining International by 3.59% to HKD 158.5, and Chifeng Jilong Gold by 2.52% to HKD 30.96 [1] - Citigroup forecasts that gold prices could reach $5000 per ounce and silver prices could hit $100 within the next three months, indicating a bullish outlook for precious metals [1] Group 2 - The article mentions that the investigation into Federal Reserve Chairman Jerome Powell has raised concerns about the independence of the Federal Reserve, contributing to the rise in gold prices as investors seek safe-haven assets [1] - Ongoing protests and unrest in Iran, which have resulted in casualties among security personnel and civilians, are also influencing market sentiment and driving demand for gold as a protective investment [1]
美联储主席面临刑事调查,市场担忧加剧,金价首次突破4600美元
Mei Ri Jing Ji Xin Wen· 2026-01-13 02:30
Bannockburn Global Forex首席市场策略师Marc Chandler表示,这一传票事件盖过了地缘政治因素,终结 了美元的新年涨势。在这种背景下,投资者纷纷转向黄金作为避险港湾,因为美联储独立性的动摇可能 削弱美国金融体系的信誉,进而放大全球经济不确定性。 1月12日,受美联储独立性受质疑及美国与地缘政治摩擦加剧,避险情绪推动,金价高开高走,站上 4600美元关口。截至收盘,COMEX黄金期货涨2.4%报4608.8美元/盎司,截至亚市收盘,黄金ETF华夏 (518850)涨1.94%,黄金股ETF(159562)涨1.64%,有色金属ETF基金(516650)涨1.36%。 消息面上,美国司法部威胁就鲍威尔在美联储华盛顿总部25亿美元大楼翻修项目上的国会证词提起刑事 诉讼,这一消息引发了市场对美联储独立性的担忧之门。鲍威尔本人将此举斥为白宫试图施压降息 的"借口"。 ...
黄金:避险情绪回升,白银:快速拉升
Guo Tai Jun An Qi Huo· 2026-01-13 01:32
Report Industry Investment Ratings - Not provided in the given content Core Views - Gold: Safe-haven sentiment rebounds [2][4] - Silver: Rapid upward movement [2][4] - Copper: Strong spot market supports prices [2][7] - Zinc: Oscillating with a slight upward bias [2][10] - Lead: Decrease in LME inventory supports prices [2][14] - Tin: Oscillating upwards [2][16] - Aluminum: Bullish trend [2][23] - Alumina: Look for selling opportunities at high prices [2][23] - Cast aluminum alloy: Stronger than electrolytic aluminum [2][23] - Platinum: Narrow-range oscillation [2][25] - Palladium: Range-bound oscillation [2][25] - Nickel: Industry and secondary funds are in a tug-of-war, with wide-range oscillation [2][29] - Stainless steel: Ferronickel lifts the oscillation center, and the market is speculating on Indonesian policies [2][30] Summaries by Related Catalogs Gold - **Price Data**: Shanghai Gold 2602 closed at 1,026.28 with a daily increase of 1.97%, and its night - session closing price was 1008.54 with a 0.80% increase. Comex Gold 2602 closed at 4608.80 with a 2.00% increase [4]. - **Trading Volume and Open Interest**: Shanghai Gold 2602 had a trading volume of 238,327, a change of 77,139 from the previous day, and an open interest of 116,450, a change of - 2,836 [4]. - **Inventory**: Shanghai Gold inventory was 97,653 kg, unchanged from the previous day. Comex Gold inventory (in troy ounces, the day before) was 36,311,918, a decrease of 75,458 [4]. - **Macroeconomic and Industry News**: US December non - farm payrolls were lower than expected, but the unemployment rate decreased. The University of Michigan's January consumer confidence preliminary reading reached a four - month high. Trump threatened Iran again and was reported to have listened to military strike plans. There were reports of Trump ordering the US military to plan an "invasion" of Greenland [4][6]. Silver - **Price Data**: Shanghai Silver 2602 closed at 20957 with a daily increase of 11.92%, and its night - session closing price was 19438.00 with a 6.19% increase. Comex Silver 2602 closed at 85.155 with a 6.72% increase [4]. - **Trading Volume and Open Interest**: Shanghai Silver 2602 had a trading volume of 166,150, a decrease of 5,862 from the previous day, and an open interest of 80,173, a decrease of 6,635 [4]. - **Inventory**: Shanghai Silver inventory was 649,643 kg, an increase of 29381. Comex Silver inventory (in troy ounces, the day before) was 439,740,503, a decrease of 2,738,911 [4]. Copper - **Price Data**: Shanghai Copper's main contract closed at 103,800 with a 2.36% increase, and its night - session closing price was 103320 with a - 0.46% change. LME Copper 3M electronic trading closed at 13,172 with a 1.59% increase [7]. - **Trading Volume and Open Interest**: Shanghai Copper Index had a trading volume of 562,942, a decrease of 224,328 from the previous day, and an open interest of 694,612, an increase of 12,971. LME Copper 3M electronic trading had a trading volume of 35,741, an increase of 8,674, and an open interest of 325,000, a decrease of 446 [7]. - **Inventory**: Shanghai Copper inventory was 116,622, an increase of 5,406. LME Copper inventory was 137,225, a decrease of 1,750 [7]. - **Macroeconomic and Industry News**: Fed Chair candidate Hassett questioned Fed overspending. Trump imposed a 25% tariff on countries trading with Iran. Codelco's 2025 copper production was 1.332 million tons, slightly higher than 2024. By 2040, global copper demand is expected to surge, driven by AI and defense [7][9]. Zinc - **Price Data**: Shanghai Zinc's main contract closed at 24175 with a 0.86% increase. LME Zinc 3M electronic trading closed at 3149 with a 0.57% increase [10]. - **Trading Volume and Open Interest**: Shanghai Zinc's main contract had a trading volume of 97940, a decrease of 45287 from the previous day, and an open interest of 101478, an increase of 24845. LME Zinc had a trading volume of 11232, a decrease of 3977, and an open interest of 233254, a decrease of 397 [10]. - **Inventory**: Shanghai Zinc futures inventory was 35341, a decrease of 3533. LME Zinc inventory was 106800, a decrease of 650 [10]. - **News**: The US Department of Justice launched a "criminal investigation" into Fed Chair Powell. Hassett questioned Fed overspending [10][11]. Lead - **Price Data**: Shanghai Lead's main contract closed at 17475 with a 0.46% increase. LME Lead 3M electronic trading closed at 2046.5 with a 1.49% increase [14]. - **Trading Volume and Open Interest**: Shanghai Lead's main contract had a trading volume of 35542, a decrease of 5669 from the previous day, and an open interest of 63535, an increase of 5171. LME Lead had a trading volume of 6649, a decrease of 4916, and an open interest of 175319, a decrease of 3306 [14]. - **Inventory**: Shanghai Lead futures inventory was 16489, an increase of 301. LME Lead inventory was 221450, a decrease of 1275 [14]. - **News**: Hassett questioned Fed overspending. Trump imposed a 25% tariff on countries trading with Iran [14]. Tin - **Price Data**: Shanghai Tin's main contract closed at 376,920 with a 6.92% increase, and its night - session closing price was 383,410 with a 5.24% increase. LME Tin 3M electronic trading closed at 48,200 with a 5.47% increase [17]. - **Trading Volume and Open Interest**: Shanghai Tin's main contract had a trading volume of 282,983, an increase of 29,897 from the previous day, and an open interest of 50,635, an increase of 9,898. LME Tin 3M electronic trading had a trading volume of 1,114, an increase of 526, and an open interest of 23,240, an increase of 26 [17]. - **Inventory**: Shanghai Tin inventory was 6,333, a decrease of 96. LME Tin inventory was 5,905, an increase of 490 [17]. - **Macroeconomic and Industry News**: Apple will use Google Gemini to power its AI - enabled Siri. The US Department of Justice launched a "criminal investigation" into the Fed Chair. The China - EU electric vehicle case reached a "soft landing" [17][18][19]. Aluminum, Alumina, and Cast Aluminum Alloy - **Price and Trading Data**: Shanghai Aluminum's main contract closed at 24650, with a night - session closing price of 24630. LME Aluminum 3M closed at 3191. Shanghai Alumina's main contract closed at 2866, with a night - session closing price of 2821. The cast aluminum alloy's main contract closed at 23340, with a night - session closing price of 23445 [23]. - **Inventory and Market News**: Domestic aluminum ingot social inventory was 740,000 tons, an increase of 22,000 tons. LME Aluminum inventory was 495,800 tons, a decrease of 2,000 tons. Trump imposed a 25% tariff on countries trading with Iran and expressed concerns about the Supreme Court's tariff ruling [23][24]. Platinum and Palladium - **Price Data**: Platinum futures 2606 closed at 622.80 with a 3.83% increase. Palladium futures 2606 closed at 505.10 with a 1.21% increase [25]. - **Trading Volume and Open Interest**: Shanghai Platinum trading volume was 40,554 kg, a decrease of 14,461 from the previous day, and its open interest was 39,301, a decrease of 289. Shanghai Palladium trading volume was 24.178 kg, a decrease of 16,235, and its open interest was 15,263, an increase of 239 [25]. - **Inventory**: NYMEX Platinum inventory (in ounces, the day before) was 624,755, a decrease of 260. NYMEX Palladium inventory (in ounces, the day before) was 211,306, unchanged [25]. - **Macroeconomic and Industry News**: CME will change the margin setting method for gold, silver, platinum, and palladium contracts. The White House stated that Trump did not instruct the investigation of Powell [25][28]. Nickel and Stainless Steel - **Price Data**: Shanghai Nickel's main contract closed at 144,200. The stainless - steel main contract closed at 13,855 [30]. - **Trading Volume and Industry News**: Shanghai Nickel's main contract had a trading volume of 1,083,202. The stainless - steel main contract had a trading volume of 356,984. Indonesia suspended issuing new smelting licenses, and the government planned to revise the nickel ore benchmark price formula and lower the 2026 nickel ore production target [30][31][33].
铜冠金源期货商品日报-20260113
Tong Guan Jin Yuan Qi Huo· 2026-01-13 01:26
1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - Trump's actions have increased market disturbances both domestically and internationally, leading to new highs in gold and silver prices, a rise in oil prices, and a recovery in the 10Y US Treasury yield. The A - share market has shown strong performance with 17 consecutive gains, and the market style has rotated to sectors such as the Internet, media, and AI applications. [2][3] - The criminal investigation of Fed Chairman Powell has boosted the safe - haven sentiment in the financial market, causing gold and silver to reach new highs. The market expects the Fed to maintain interest rates in the January 27 - 28 meeting, and there may be two interest rate cuts this year. [4] - The copper price is expected to maintain a strong high - level oscillation in the short term due to factors such as the resonance with gold and silver, the demand prospects brought by global electrification and AI data center construction, and the structural imbalance in the fundamentals. [6][7] - The aluminum price is expected to remain strong due to the re - inflow of funds after the US Department of Justice's investigation of Powell, which has reduced the pressure of the US dollar on metals. [8] - The alumina price faces significant upward pressure due to the oversupply in the market, high inventory, and general procurement enthusiasm from downstream. [9][10] - The casting aluminum price will follow the cost fluctuations and show a strong performance, but the profit is compressed due to the poor cost transmission in the industrial chain and consumption suppression. [11] - The zinc price is expected to maintain a high - level and strong oscillation in the short term, driven by the macro and capital aspects, although the fundamentals show a divergence, with increased supply pressure and weak downstream consumption. [12][13] - The lead price will maintain a wide - range oscillation pattern, with the inventory increasing slightly but still at a relatively low level, and the supply - demand relationship remaining weak. [14][15] - The tin price is expected to be easy to rise and difficult to fall in the short term, supported by supply disruptions and consumption growth expectations from sectors such as AI, photovoltaics, and new energy. [16] - The steel price is expected to oscillate, with the industry's prosperity weakening, the demand in the off - season deepening, and the inventory starting to accumulate. [17] - The iron ore price is expected to oscillate, with a high arrival volume at ports and stable demand, resulting in a supply - strong and demand - weak situation. [18] - The coking coal and coke prices will fluctuate at a high level. The market sentiment has improved, but the price increase is restricted by the inventory pressure of finished products in the off - season. [19] - The soybean meal price is expected to oscillate in the short term. The USDA report is generally bearish, but the domestic oil mills' soybean and soybean meal inventories are expected to be depleted faster, providing support for the near - end price. [20][21] - The palm oil price is expected to oscillate and strengthen in the short term. The MPOB report's bearish news has been realized, and the high - frequency data shows an improvement in the supply - demand relationship, which is conducive to inventory depletion. [23][24] 3. Summaries According to Relevant Catalogs 3.1 Macro - Overseas: Trump has increased market disturbances. Domestically, he has launched a criminal investigation into Fed Chairman Powell and pressured the US Supreme Court on tariff issues. Internationally, he has imposed a 25% tariff on countries trading with Iran. Gold and silver have reached new highs, the oil price has risen, the US stock market has closed higher, and the 10Y US Treasury yield has recovered to 4.17%. Attention is paid to the US December CPI data. [2] - Domestic: The A - share market has continued to rise strongly with 17 consecutive gains. The Shanghai Composite Index closed at 4165 points, and the trading volume of the two markets reached a record high of 3.65 trillion yuan. The market style has rotated to sectors such as the Internet, media, and AI applications. The margin trading volume has reached a new high, and attention is paid to the volume sustainability and the export and financial data to be released this week. [3] 3.2 Precious Metals - Gold and silver have reached new highs. The main reason is the criminal investigation of Fed Chairman Powell by the US Department of Justice, which has triggered market shocks, a decline in the US dollar index, and an increase in safe - haven demand. The market expects the Fed to maintain interest rates in the January 27 - 28 meeting, and there may be two interest rate cuts this year. [4] 3.3 Copper - On Monday, the Shanghai copper main contract oscillated at a high level, and the LME copper price reached above $13,000. The domestic electrolytic copper spot market had light trading, and the LME inventory decreased to 137,000 tons, while the COMEX inventory continued to increase to 520,000 tons. The criminal investigation of Powell has intensified the contradiction between Trump and Powell, increasing the safe - haven sentiment in the capital market. The copper price is expected to maintain a strong high - level oscillation in the short term. [6][7] 3.4 Aluminum - On Monday, the Shanghai aluminum main contract closed at 24,650 yuan/ton, up 2.54%. The LME aluminum price rose 1.33%. The inventory of electrolytic aluminum ingots and aluminum rods increased. The US Department of Justice's investigation of Powell has reduced the pressure of the US dollar on metals, and the re - inflow of funds has led to an increase in the aluminum price. [8] 3.5 Alumina - On Monday, the alumina futures main contract closed at 2,866 yuan/ton, up 1.63%. The spot price was flat, and the theoretical import window was open. The market is in a state of oversupply, and the price faces significant upward pressure. [9][10] 3.6 Casting Aluminum - On Monday, the casting aluminum alloy futures main contract closed at 23,340 yuan/ton, up 2.3%. The spot price also increased. The cost of casting aluminum is supported by the strong performance of primary aluminum, but the profit is compressed due to poor cost transmission and consumption suppression. [11] 3.7 Zinc - On Monday, the Shanghai zinc main contract oscillated strongly, and the LME zinc price closed higher. The spot market had poor trading, and the social inventory decreased slightly. The US Department of Justice's investigation of Powell has led to a decline in the US dollar index, which is beneficial to the metal price. The zinc price is expected to maintain a high - level and strong oscillation in the short term. [12][13] 3.8 Lead - On Monday, the Shanghai lead main contract oscillated widely, and the LME lead price oscillated narrowly. The spot market had active sales by holders at a discount, and the social inventory increased slightly. The lead price will maintain a wide - range oscillation pattern. [14][15] 3.9 Tin - On Monday, the Shanghai tin main contract hit the daily limit, and the LME tin price rose sharply. The supply side is disturbed by factors such as the instability in the Congo and the delay in tin mine复产 in Myanmar. The demand side has consumption growth expectations from sectors such as AI, photovoltaics, and new energy. The tin price is expected to be easy to rise and difficult to fall in the short term. [16] 3.10 Steel (Screw and Coil) - On Monday, the steel futures oscillated. The spot market had a trading volume of 105,000 tons. The industry's prosperity has weakened, with a significant decline in the apparent demand for construction steel and an increase in inventory. The price is expected to oscillate, and attention is paid to the inventory accumulation rhythm. [17] 3.11 Iron Ore - On Monday, the iron ore futures oscillated and adjusted slightly. The spot market had a trading volume of 750,000 tons. The supply side has a high arrival volume at ports, and the demand is stable, resulting in a supply - strong and demand - weak situation. The price is expected to oscillate. [18] 3.12 Coking Coal and Coke - On Monday, the coking coal and coke futures fluctuated at a high level. Some coking enterprises in Ningxia and Inner Mongolia have raised the coke price. The market sentiment has improved, but the price increase is restricted by the inventory pressure of finished products in the off - season. [19] 3.13 Soybean and Rapeseed Meal - The USDA January report is generally bearish. The US soybean yield remains unchanged, but the production is slightly increased, the export demand is decreased, and the ending inventory is increased. The South American soybean production is expected to be abundant. The domestic oil mills' soybean and soybean meal inventories are at a high level, but the de - stocking rhythm is expected to accelerate. The price is expected to oscillate. [20][21] 3.14 Palm Oil - The December MPOB report shows that the Malaysian palm oil ending inventory is slightly higher than expected, but the export volume has increased, and the production has decreased. The high - frequency data in January shows a decrease in production and an increase in exports. The price is expected to oscillate and strengthen in the short term. [22][23][24]
黄金:避险情绪回升,白银:避险情绪回升
Guo Tai Jun An Qi Huo· 2026-01-13 01:26
商 品 研 究 黄金:避险情绪回升 白银:快速拉升 刘雨萱 投资咨询从业资格号:Z0020476 liuyuxuan023982@gtjas.com 2026 年 1 月 13 日 【基本面跟踪】 贵金属基本面数据 | | | 昨日收盘价 | 日涨幅 | 昨日夜盘收盘价 | 夜盘涨幅 | | --- | --- | --- | --- | --- | --- | | | 沪金2602 | 1,026.28 | 1.97% | 1008.54 | 0.80% | | | 黄金T+D | 1,022.12 | 1.91% | 1005.52 | 0.55% | | | Comex黄金2602 | 4608.80 | 2.00% | - | | | | 伦敦金现货 | #N/A | #N/A | - | - | | | 沪银2602 | 20957 | 11.92% | 19438.00 | 6.19% | | 价 格 | 白银T+D | 20902 | 11.69% | 19400 | 4.53% | | | Comex白银2602 | 85.155 | 6.72% | - | - | | | 伦敦银现货 | # ...