Group 1 - The Shanghai gold futures closed at 1007.18 yuan per gram on December 30, with a daily decline of 0.91% and a trading volume of 345,222 lots [1] - The spot price of gold in Shanghai was quoted at 983.00 yuan per gram, indicating a discount of 1.84 yuan per gram compared to the futures price [1] - Recent geopolitical tensions, including accusations from Russia against Ukraine and aggressive foreign policy statements from Trump, have weakened expectations for peace negotiations [1] Group 2 - Market sentiment has shifted, leading to a potential continuation of short-term corrections in precious metals [2] - Both domestic and international precious metal prices have significantly declined from historical highs, with platinum and palladium futures hitting the limit down, and silver experiencing volatile trading [2] - Regulatory policies have tightened, particularly with the CME raising margin requirements, resulting in capital outflows and profit-taking among long positions, contributing to rapid adjustments in precious metal prices [2]

投资咨询业务资格 沪证监许可[2015]84 号 贵金属在快速拉升后，因交易所监管持续加码，导致资金流出，叠加多头获利了结下而 敬请参阅最后一页免责声明 1 / 12 商品日报 20251230 联系人 李婷、黄蕾 电子邮箱 jytzzx@jyqh.com.cn 主要品种观点 宏观：金属价格迎来显著调整，A 股收出九连阳 海外方面，地缘与政策不确定性上升：俄方指控乌克兰试图袭击普京官邸、乌方否认， 俄罗斯随即释放"重新评估谈判立场"的强硬信号，削弱和平进程预期；特朗普宣称首次在 委内瑞拉境内实施打击并对伊朗再度发出军事威胁，显示对外政策更趋激进；同时，特朗普 继续施压杰罗鲍威尔并预告 1 月更换美联储主席人选。金属近期高斜率的行情引来调整，伦 敦金调整超 4%、伦敦银跌幅超 9%，LME 铜高开后回吐涨幅，美元指数震荡至 98 关口，美 股小幅调整。 国内方面，A 股在九连阳后冲高回落，收出十字星，结构性分化加剧，化纤、林木、天 然气等板块领涨，但两市超 3300 只个股下跌，赚钱效应偏弱，成交额小幅放量至 2.16 万亿 元，此前持续净流入的中证 500ETF 周一转为净流出，显示资金追高意愿有所回落，突破 ...