Group 1 - The precious metals market experienced significant volatility, with silver futures recording the largest single-day drop in nearly five years, as COMEX gold futures fell by 4.45% and COMEX silver futures dropped by 7.2% on December 29 [1][3] - Year-to-date, gold prices have surged by 65%, while silver prices have increased by 147%, driven by rising investor demand and supply shortages [3] - The industrial demand for silver is continuously increasing, supported by its excellent conductivity and thermal properties, making it a key metal in the global economic transition, particularly in the photovoltaic and electric vehicle industries [3] Group 2 - Tesla CEO Elon Musk expressed concerns about the rising silver prices, indicating that it could negatively impact many industrial processes that rely on silver [4] - Market speculation arose regarding the potential end of the record surge in silver prices, with analysts suggesting that the cyclical peak of silver might dampen retail traders' speculative enthusiasm, potentially lowering the entire metals sector [4]

Moneyfarm的分析师Richard Flax在一份报告中说，美国经济预计将在2026年实现稳健增长。他说，对人 工智能行业的大量投资、美联储降低利率以及政府的支持可能会促进经济增长。 另外，市场对地缘局势的担忧情绪有所回升，也吸引避险买盘支撑银价。当地时间12月29日，央视记者 获悉，美国总统特朗普在采访中表示，美军在委内瑞拉行动中摧毁了一座"大型设施"。但他没有提供有 关此次行动的更多细节。 同日，俄罗斯指责乌克兰对俄罗斯总统府在俄罗斯北部的住宅发动无人机袭击，这促使莫斯科重新考虑 其在和平谈判中的立场。 日图来看，纸白银昨日暴跌，今日价格持续回温上涨，目前涨超4%，布林带向上开口，表明目前处于 上涨轨道，一小时DMI显示警惕回调风险，MACD向零线倾斜，表明目前上涨动能减弱，纸白银走势下 方关注14.50-15.50支撑，上方关注16.50-17.00阻力。 今日周二(12月30日)欧盘时段，纸白银目前交投于16.694一线上方，今日开盘于16.071元/克，截至发 稿，纸白银暂报16.809元/克，上涨4.38%，最高触及16.891元/克，最低下探15.947元/克，目前来看，纸 白银盘内短线偏 ...

Group 1 - The A-share market experienced a volatile adjustment on Monday, with the Shanghai Composite Index achieving nine consecutive days of gains, indicating strong market enthusiasm for buying [1][3] - The market is expected to see continued improvement in liquidity and trading activity due to year-end and early-year reallocation demands and capital inflows [1] - Short-term market focus is on the selection of the new Federal Reserve chair and the implementation of domestic monetary and fiscal policies [1][2] Group 2 - On Monday, the A-share market faced resistance after a rise, with sectors such as banking, petrochemicals, wind power equipment, and software development performing well, while sectors like power metals, pharmaceutical commerce, batteries, and electricity lagged [2] - The domestic monetary policy is anticipated to maintain a stance of "moderate easing," with expectations that the Federal Reserve will continue its rate-cutting cycle into 2026, contributing to a more relaxed global liquidity environment [2] - The recent strengthening of the RMB has increased the attractiveness of RMB assets, likely aiding in capital inflows [2] Group 3 - The A-share market has shown structural trends, with over 3,000 stocks declining for two consecutive trading days, indicating a need for investors to pay attention to the sustainability of hot themes and the rotation rhythm among sectors [3] - Despite the upward trend in the index, there is a caution against potential technical adjustments following continuous gains, but the upcoming "spring rally" may present thematic investment opportunities [3] - In the medium term, as recent domestic and international macro events settle, macro factors' influence on the market is expected to diminish, with valuation and liquidity becoming the dominant factors [3]

29日美国三大股指集体收跌 当地时间周一，贵金属市场再现剧烈波动。黄金、白银、钯金价格集体暴跌，其中白银期价创近五年来最大单日跌幅，钯金价格波动更为剧烈，周一跌超 16%。 白银期价创近五年来最大单日跌幅 贵金属方面，由于多个品种金属期货价格近期快速攀升，为保障市场正常交易，芝商所集团宣布大幅上调金属期货履约保证金，新规自周一收盘后生效。 其中，黄金期货上调10%，白银期货上调约13.6%，铂金期货上调约23%。 周一，机构投资者在年末逐步进行仓位调整，重新审视AI行业明年的发展和盈利前景，美股科技股普遍承压走低，资金继续流向房地产和公用事业等周 期股和防御型股，美国三大股指周一集体收跌。截至收盘，道指跌0.51%，标普500指数跌0.35%，纳指跌0.50%。美股七大科技巨头中，特斯拉以3.27%的 跌幅领跌。周一有市场消息称，美国知名科技行业投资人凯茜·伍德旗下公司再次减持特斯拉股票，套现约3000万美元。 29日欧洲三大股指涨跌不一 欧洲方面，多方正在推进的俄乌和平谈判主导市场情绪，美方称谈判已经进入"最后阶段"，俄乌"已经非常接近达成协议"。这些进展令欧洲多国的国防与 军工股承压下跌，因年末期间股市交 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The precious metal sector is under pressure, and risk management before the holiday should be done well. The market sentiment is still hot, but there are risks of policy expectation swings at home and abroad, and the fundamentals deviate from the market trend. One should continue to track the sentiment-driven market and make risk plans for the right-side adjustments [2][4] - Focus on the candidates for the Fed Chair and their impact on the pricing of interest rate cuts. The short-term market is still driven by sentiment and remains positive, but if the sentiment turns cold, one needs to be vigilant about the downward risk caused by the resonance of the macro and fundamentals [3] - Currently, focus on the non-ferrous and precious metal sectors with high certainty, and also pay attention to the opportunity of low-valued commodities to make up for the increase. For the futures market, one can buy on dips in stock index futures, precious metals, and non-ferrous metals [4][5] 3. Summary by Related Catalogs Market Analysis - Policy expectations have swung back. The Politburo meeting and the Central Economic Work Conference have emphasized the continuation of fiscal and monetary policies, and multiple ministries have responded. China's November economic data is still under pressure, and one should pay attention to the expectations of policies such as RRR cuts and interest rate cuts [2] - The Fed's December FOMC meeting announced the purchase of $40 billion in short-term bonds in the next 30 days and cut interest rates by 25 basis points as expected. The US economy shows resilience, and the pricing of interest rate cuts in January next year has decreased [3] Commodity Analysis - In the non-ferrous sector, the long-term supply constraint has not been alleviated, and the certainty is still high. In the energy sector, some countries have submitted additional production cut plans, and there are warnings about oversupply and high inventory. In the chemical sector, the "anti-involution" space of some varieties is worthy of attention. In the agricultural products sector, one should pay attention to China's procurement plan for US goods and the weather forecast for next year [4] - For the precious metal sector, one can pay attention to the opportunity to buy on dips. The short-term risk of silver has increased, and the gold-silver ratio has deviated from the reasonable repair range [4] Strategy - For commodities and stock index futures, one can go long on stock index futures, precious metals, and non-ferrous metals on dips [5] Important News - China's industrial enterprise profits in November decreased by 13.1% year-on-year. The digital RMB action plan will be officially launched on January 1, 2026, and China will adjust the tariff rates and items of some commodities on the same day [7] - Trump said that Russia and Ukraine are "close to reaching an agreement", and the "20-point peace plan" has been 95% negotiated. The Japanese central bank hinted at more interest rate hikes, and the Iranian president claimed to be in a "full-scale war" with the US, Europe, and Israel [3][7] - Spot gold fell below $4,440 per ounce, down more than 2% intraday, and spot silver fell below $74 per ounce, down 6.54% intraday [4][7]

Group 1 - The core point of the articles highlights a significant decline in international precious metal prices, with COMEX gold futures dropping by 4.45% to around $4300 per ounce, and COMEX silver futures falling by 7.2% to $71.64 per ounce, alongside substantial declines in spot silver, palladium, and platinum prices [1][2] - The recent downturn in precious metals is attributed to the Chicago Mercantile Exchange's announcement of margin adjustments aimed at addressing market volatility, with gold futures margin increased by 10%, silver by approximately 13.6%, and platinum by about 23% [1] - Historical precedents indicate that margin increases have previously been used to cool down the market, with a notable instance in 2011 when silver prices fell nearly 30% following multiple margin hikes [1] Group 2 - The margin adjustments by the CME are a response to the irrational surge in precious metal prices, which have risen significantly due to factors such as Federal Reserve interest rate cuts, a weakening dollar, and increased gold purchases by central banks [2] - In the past month, silver and platinum have seen price increases exceeding 40%, with silver's year-to-date increase reaching 140%, surpassing gold's performance [2] - The demand for silver is driven by its dual role as both a safe-haven asset and an industrial metal, particularly due to the rapid growth of the renewable energy sector, leading to a supply-demand imbalance and a decline in global inventories to a ten-year low [2]

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇12月30日｜A股开盘，三大指数集体低开，沪指跌0.44%报3947.87点，深证成指跌0.52%，创业 板指跌0.44%。盘面上，金银价格深夜大跳水，贵金属及有色金属板块集体回调。 （责任编辑：宋政 HN002） ...

Group 1: Precious Metals - The precious metals market has become the focal point of the commodities sector, driven by expectations of a Federal Reserve interest rate cut in 2026 and geopolitical risk, with gold prices reaching an all-time high [2] - Silver's performance has been particularly remarkable, with a monthly increase marking the highest since 1979 and a weekly rise of 16.08% [2] - UBS warns that the current price surge is largely driven by sentiment and technical momentum rather than solid industry fundamentals, indicating potential risks of price corrections as market sentiment normalizes [2] Group 2: Energy and Industrial Metals - The energy market shows mixed performance, with crude oil prices fluctuating around $58 per barrel, supported by U.S. actions against Venezuela and the Russia-Ukraine conflict, but limited by ample global supply [3] - UBS notes that the U.S. government prefers to manage inflation through low oil prices, establishing an "invisible floor" for oil prices around $50 [3] - Industrial metals maintain high prices due to optimistic market sentiment regarding Chinese economic support policies and strong demand for metals like copper and aluminum in green energy infrastructure [3] Group 3: Agriculture and Livestock - The agricultural market faces challenges from South American weather and geopolitical risks, with corn and soybean prices initially boosted by Chinese demand but later pressured by farmer sell-offs [4] - A significant warning is that soybean export volumes have decreased by nearly one-third year-on-year, which may impact planting decisions for 2026 [4] - In contrast, corn exports have surged by 30% year-on-year, becoming a highlight in the grain market, while the livestock sector remains robust for cattle but faces downward pressure in the pork market due to increased supply [4] Group 4: Market Outlook for 2026 - As the new year approaches, market liquidity is expected to remain low, amplifying the impact of any sudden news on prices [5] - The current commodities market is at a critical juncture, with precious metals experiencing strong momentum but facing valuation challenges, while energy and agricultural markets seek new pricing logic amid policy interventions and climate variability [5] - For 2026, a return to fundamentals may replace the current sentiment-driven trading, becoming the main theme in the market [5]

【三大指数集体低开 有色板块领跌】智通财经12月30日电，沪指低开0.44%，深成指低开0.52%，创业 板指低开0.44%，贵金属、锂矿、消费电子等板块指数跌幅居前。 【三大指数集体低开 有色板块领跌】智通财经12月30日电，沪指低开0.44%，深成指低开0.52%，创业 板指低开0.44%，贵金属、锂矿、消费电子等板块指数跌幅居前。 转自：智通财经 转自：智通财经 ...

12月30日，A股三大股指多空分歧明显走势分化，沪指及深成指低开后震荡走高，创业板指冲高回落低 位震荡，截止午盘，沪指跌0.1%报3961.21点，深成指涨0.23%报13568.09点，创业板指跌0.06%报 3220.56点，科创50指数涨0.51%报1353.12点；沪深两市半日成交额1.29万亿，全市场超2700只个股下 跌。 盘面热点快速轮动，商业航天概念反复活跃，大业股份5连板，中国卫通3天2板创新高，中超控股5天4 板；人形机器人概念延续强势，天奇股份4连板，五洲新春2连板；数字货币概念表现活跃，御银股份、 翠微股份双双2连板。AI应用端持续走高，酷特智能20cm涨停。下跌方面，海南自贸概念跌幅居前，海 南发展、罗牛山下挫。多只零售概念股走弱，百大集团触及跌停，东百集团、茂业商业跌超5%。 热门板块 影视院线板块持续拉升 影视院线板块持续拉升，百纳千成此前20cm涨停，华谊兄弟涨超10%，金逸影视、幸福蓝海、横店影 视跟涨。 消息面上，据了解，2025年贺岁档票房为继2017年贺岁档后，中国影史第二次突破50亿元贺岁档票房， 创近八年来同期票房新高。 数字货币概念反复活跃 消息面上，隔夜国际贵金 ...