Market Overview - The futures market is experiencing widespread declines, with major contracts such as 20 rubber, glass, coking coal, and rubber all dropping over 2% [3] - The palm oil market has also seen a decline of 2%, while other commodities like silver, live pigs, and synthetic rubber have dropped nearly 2% [3] - The overall sentiment in the market remains unstable, with the recent interest rate cut by the Federal Reserve not providing the expected support [6] Financial Futures Sector - The stock index futures have shown volatility, with the CSI 300 index futures (IF) down 1.35% and the SSE 50 index futures (IH) down 1.40% [6] - The market is currently assessing the future interest rate path of the Federal Reserve, with a divergence in expectations among officials regarding future rate cuts [6] Precious Metals Market - The gold market is undergoing high-level adjustments, with limited upside potential due to fewer expected rate cuts from the Federal Reserve [7] - Geopolitical tensions and central banks' continued accumulation of gold support long-term demand, but rising nominal interest rates are exerting pressure on gold prices [7] Industrial Products Sector - The industrial products sector is under pressure, with copper prices declining due to less-than-expected support from the Federal Reserve's rate cut [8] - Aluminum prices have also retreated after a previous breakout, while nickel prices are finding support at lower ranges [8] Energy and Chemical Sector - The energy and chemical sector is generally weak, with methanol inventories remaining high and market sentiment declining [15] - PVC supply and demand remain weak, leading to a short-term stabilization followed by a downturn [16] Shipping and Container Market - The shipping market, particularly the European route, is experiencing significant declines, with the Shanghai export container settlement price index dropping 8.1% [19] - The current supply pressure is evident, with global container capacity exceeding 32.9 million TEU, a year-on-year increase of 8% [19] Key Focus Points for Next Week - Upcoming U.S. employment and inflation data will be critical in influencing the Federal Reserve's monetary policy direction [21] - Attention should also be given to geopolitical risks and the outcomes of other central banks' meetings [21]

冉学东 4月22日，伦敦黄金现货冲高到了3500亿元以上，当日到高点后，市场获利盘开始大肆抛售套现，第二日继续大幅 下跌，这一日美国黄金ETF出现了-13亿美元的最大单日赎回，超越了2011年瑞士央行干预引发的市场恐慌，显示 市场情绪的明显转变。按总持有黄金的实际数量计算，美国黄金ETF远远低于2020年的水平。 但是同时，有一股购买力量来自亚洲，一旦到了亚洲交易时间，黄金价格一开盘便大幅上涨，分析指出，随着中 国投资者对黄金的配置不断增加，黄金市场的"底部"逐步稳固。这一点，有数据印证，28日，中国黄金协会发布 一季度国内黄金相关统计数据显示，一季度，我国增持黄金12.75吨，国内黄金ETF持仓增长23.47吨，同比增长 327.73%。至3月底，国内黄金ETF持有量达138.21吨。 在黄金快速回调之际，多头仓位也在大幅减少。4月28日，美国商品期货交易委员会最新数据显示，对冲基金经理 已将黄金期货和期权的净多头头寸削减至一年多以来的最低水平。 由于此轮黄金爆发上涨主要是由于特朗普发动贸易战，引发全球经济秩序发生大混乱，大家对美国债券以及美元 的信用发生动摇，美元和美股大跌，美债收益率大幅上涨，资金进入黄 ...