Summary of Key Points Core Viewpoint - The Shanghai Gold Exchange reported a decline in trading volumes and values across various precious metals in August 2025, despite international gold prices reaching new highs. Group 1: Trading Volume and Value - In August 2025, the total trading amount for various contracts on the Shanghai Gold Exchange was 32,007.63 billion yuan, a year-on-year decrease of 7.9%, with inquiry trading accounting for 75.4% at 24,144.86 billion yuan [1] - The trading amounts for member proprietary and agency businesses were 29,985.63 billion yuan and 2,202 billion yuan, respectively [1] - The gold trading volume was 4,020,058.88 kilograms, down 32.5% year-on-year, with a trading value of 31,158.17 billion yuan, a decrease of 7.7% [1] Group 2: Precious Metals Performance - International gold prices reached a record high of 3,447.95 USD/ounce, increasing by 151.62 USD from the previous month [2] - The trading volume for platinum was 8,284 kilograms, down 45.1%, with a trading value of 26.43 billion yuan, a decrease of 21.6% [1] - Silver trading volume was 8,972,768 kilograms, down 33.8%, with a trading value of 823.04 billion yuan, a decrease of 16.1% [1] Group 3: Domestic Market Trends - The Au99.99 gold contract opened at 767 yuan/gram and closed at 781.71 yuan/gram, reflecting a monthly increase of 14.35 yuan/gram, or 1.87% [3] - The average price for gold this month was 775.78 yuan, up 3.52 yuan from the previous month [3] - The silver Ag (T+D) contract opened at 8,891 yuan/kilogram and closed at 9,365 yuan/kilogram, with a monthly increase of 367 yuan/kilogram, or 4.08% [3] Group 4: Delivery and Physical Outflows - The total gold delivery volume was 502,656.88 kilograms, with a physical outflow of 84,971 kilograms [4] - The total silver delivery volume was 1,025,220 kilograms, with a physical outflow of 163,215 kilograms [4]

本月黄金交割量为677,642.12千克，实物出库量为89,642.3千克；白银交割量为2,335,080千克，实物出库量为166,950千克。 作者：上海黄金交易所 2025年6月，上海黄金交易所各类合约的成交金额为42,106.71亿元，同比增加73.7%，其中，询价交易成交31,878.63亿元，占比 75.7%。会员自营和代理业务的交易金额分别为40,728.36亿元和1,378.35亿元。 本月黄金成交量为5,417,182.62千克，同比增加22.6%，成交金额42,106.71亿元，同比增加73.7%，日均成交量为270,859.13千 克；铂金成交14,318千克，同比增加113.6%，成交金额41.11亿元，同比增加166.8%，日均成交量为715千克；白银成交 12,559,696千克，同比减少3.4%，成交金额1,098.23亿元，同比增加8.1%，日均成交量为627,984.8千克。 本月国际金价高位盘整，白银与铂金大幅上扬。现货黄金（XAU）收于3,283.57美元/盎司，较上月下跌5.68美元，低点和高点分 别为3,248.71美元和3,451.31美元。国际现货白银（XAG）收于 ...

贵金属日报 2025-07-18 此外，食品、饮料及外出就餐等分项环比值回升，与前日公布总 CPI 中具备韧性的食品通胀相 符。上个月零售额增长的部分原因是关税政策所推动的价格上涨，而非销量形成的驱动。 今晨联储主席热门候选人、理事沃勒再度鸽派表态，他表示美联储应当在七月议息会议中将利 率下调 25 个基点。相比于当前的通胀和就业数据，美联储独立性受挫是后续贵金属市场交易 的主线，宽松货币政策预期将驱动金银价格进一步走强，而白银将相较于黄金而言更收益于这 一预期，策略上建议关注白银的做多机会，沪金主力合约参考运行区间 759-809 元/克，沪银 主力合约参考运行区间 9020-10000 元/千克。 | | 单位 | 收盘价 | 前交易日 | 日度变化 | 环比 | | 单位 | 收盘价 | 前交易日 | 日度变化 | 环比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Au(T+D) | 元/克 | 770.92 | 772.20 | -1.28 | -0.17% | Ag(T+D) | 元/千克 ...

Group 1: Trading Volume and Value - In May 2025, the total trading volume of various contracts at the Shanghai Gold Exchange reached 42,087.66 billion yuan, a year-on-year increase of 62.8%, with inquiry trading accounting for 68.7% of the total [1] - The gold trading volume was 5,369,723.16 kilograms, up 21.1% year-on-year, with a trading value of 41,248.31 billion yuan, an increase of 67.7% [1] - Platinum trading volume was 16,226 kilograms, showing a significant increase of 525.5%, with a trading value of 38.79 billion yuan, up 545.8% [1] - Silver trading volume decreased by 39.0% to 9,809,654 kilograms, with a trading value of 746.64 billion yuan, down 36.1% [1] Group 2: International Market Prices - The international gold price closed at 3,289.25 USD/ounce, an increase of 16.54 USD from the previous month, with a low of 3,120.98 USD and a high of 3,435.63 USD [2] - The international silver price closed at 32.98 USD/ounce, up 0.72 USD from the previous month, with a low of 31.65 USD and a high of 33.70 USD [2] - The international platinum price closed at 1,057.84 USD/ounce, increasing by 85.73 USD from the previous month, with a low of 957.08 USD and a high of 1,103.87 USD [2] Group 3: Domestic Market Performance - The Au99.99 gold contract opened at 785 yuan/gram, peaked at 807.9 yuan/gram, and closed at 768.79 yuan/gram, down 11.4 yuan/gram from the previous month, with a monthly decline of 1.46% [3] - The average price for gold this month was 770.54 yuan, slightly higher by 1.03 yuan compared to the previous month [3] - The trading volume for Au (T+D) was 1,207,540 kilograms, accounting for 22.5% of the total gold trading volume, with a month-end position of 205,424 contracts, a decrease of 3,370 contracts from the previous month [3] Group 4: Delivery and Physical Outflow - The total gold delivery volume was 676,159.34 kilograms, with a physical outflow of 99,388.1 kilograms [4] - The total silver delivery volume was 1,868,850 kilograms, with a physical outflow of 352,860 kilograms [4]