上海期货交易所指定交割仓库期货周五（12月26日）仓单日报显示，黄金期货总计97692千克，今日仓 单较上一日增加3981千克。 沪金主力盘内高位回落，周五（12月26日）黄金期货开盘价1007.00元/克，截至目前最高1023.96元/ 克，最低1007.00元/克。截止发稿报1016.30元/克，涨幅0.75%，成交量为224588手，持仓为180712手， 日持仓减少1467手。 上海期货交易所黄金期货仓单日报(单位：千克) | | 期货 | 增减 | | --- | --- | --- | | 上期所指定交割金库 | 97692 | 3981 | 乌克兰总统泽连斯基12月25日晚说，他当天与美国总统特朗普的特使威特科夫、女婿库什纳通电话，就 接下来的会晤形式、加快实现"真正和平"的时间安排等议题进行讨论。 泽连斯基25日晚称，通话近一个小时，效果"非常好"，双方讨论了诸多细节，有一些"好想法"和"新想 法"。泽连斯基称，一些协议文件已着手准备并接近完成，一些文件已完全就绪，但在一些"敏感问 题"上，仍需开展工作。"接下来几周可能同样紧张忙碌"。俄罗斯总统新闻秘书佩斯科夫25日表示，俄 总统特别代表德米 ...

Core Viewpoint - The Shanghai Gold Exchange has announced adjustments to margin requirements and price fluctuation limits for various gold and silver contracts, effective from December 30, 2025 [1] Group 1: Margin Adjustments - The margin ratio for Au, mAu, NYAuTN06, and NYAuTN12 contracts will increase from 16% to 17% [1] - The margin ratio for Ag contracts will rise from 19% to 20% [1] - The margin for CAu99.99 contracts will change from 85,000 yuan per lot to 120,000 yuan per lot [1] Group 2: Price Fluctuation Limits - The price fluctuation limit for gold contracts will be adjusted from 15% to 16% starting the next trading day [1] - The price fluctuation limit for silver contracts will increase from 18% to 19% starting the next trading day [1]

铂金的国际期货价格于12月23日首次突破每盎司2300美元大关。随着金价上涨，价格联动性强的铂金因 价格偏低也吸引了大量资金流入…… 铂金被用于净化汽车尾气的催化剂。12月16日传出消息，预计欧洲将取消原则上禁止销售燃 油车的方针，这使得占总需求四成左右的汽车用途需求预期扩大。中国自11月起在广州期货 交易所（GFEX）启动了该国首个铂金期货交易，"由于中国国内的经济放缓，出于资产保值 需求等原因，铂金交易变得活跃起来"（Marketedge的负责人小菅努）。 随着金价上涨，价格联动性强的铂金因价格偏低也吸引了大量资金流入。由于铂金的市场规 模小于黄金，其价格波动也往往更不稳定。 版权声明：日本经济新闻社版权所有，未经授权不得转载或部分复制，违者必究。 日经中文网 https://cn.nikkei.com 视频号推荐内容： 铂金的国际期货价格于12月23日首次突破每盎司2300美元大关。与同为贵金属、价格处于历 史高位的黄金相比，铂金价格偏低的优势受到市场关注。 作为国际指标的纽约期货价格在12月23日一度较前一个交易日上涨234.4美元（11％），达 到每盎司2323.8美元，创下最高值。这是2008年以 ...

Group 1 - The core viewpoint of the articles highlights the recent surge in gold and silver prices driven by safe-haven demand and bullish technical indicators, with gold futures for February 2026 closing at $4505.4 per ounce, remaining stable compared to the previous day [1] - Gold and silver prices have reached historical highs, with retail traders experiencing a strong fear of missing out (FOMO) on the current bull market [1] - Analysts caution that entering long positions in gold and silver at this stage may be risky, likening it to playing with fire [1] Group 2 - Platinum prices have surged to a historical high, breaking the $2300 per ounce mark for the first time, due to supply tightness and high borrowing costs, with South Africa's supply disruptions contributing to a projected third consecutive year of supply shortages [1] - The next bullish target for February gold futures is to break through the strong resistance level of $4600, while the bearish target is to fall below the technical support level of $4300 [1] - For March silver futures, the next bullish target is to surpass the strong technical resistance level of $75, while the bearish target is to drop below the strong support level of $65, with silver futures closing at $71.875 per ounce, reflecting a 1.04% increase [1]

Group 1 - The US stock market will close three hours early on December 24 due to the Christmas holiday [1] - Trading for US Treasury futures at CME will end early at 03:30 Beijing time on December 25 [1] - Trading for CME's precious metals, energy, and foreign exchange futures will conclude early at 02:45 Beijing time on December 25 [1] Group 2 - US stock market will be closed for the entire day on December 25 [1] - All trading for US Treasury futures at CME will be suspended for the day [1] - Trading for CME's precious metals, crude oil, foreign exchange, and stock index futures will also be suspended for the entire day [1] - Trading for Brent crude oil futures at ICE will be halted for the entire day [1]

Market Overview - On December 23, 2025, the A-share market saw all three major indices close higher, with the Shanghai Composite Index at 3919.98 points, up 0.07%, the Shenzhen Component Index at 13368.99 points, up 0.27%, and the ChiNext Index at 3205.01 points, up 0.41%. However, the overall market had more decliners than gainers, with over 3800 stocks declining. The total trading volume in the Shanghai and Shenzhen markets was 1.90 trillion yuan, an increase of 37.9 billion yuan from the previous trading day [1] - In the Hong Kong market, all three major indices turned negative, with the Hang Seng Index down 0.11% or 27.63 points, closing at 25774.14 points, and a total trading volume of 157.13 billion HKD. The Hang Seng China Enterprises Index fell 0.29% to 8913.83 points, while the Hang Seng Tech Index decreased by 0.69% to 5488.89 points [1] - In the U.S. market, the three major indices had mixed results, with the Dow Jones Industrial Average up 0.61% to 47716.42 points, the S&P 500 up 0.54% to 6849.09 points, and the Nasdaq Composite up 0.65% to 23365.69 points [1] New Stock Listing - The new stock "Jianxin Superconductor" listed on the Sci-Tech Innovation Board with a stock code of 688805, priced at 18.58 yuan per share and a price-to-earnings ratio of 61.97 times. The company is a leading player in the core components of medical magnetic resonance imaging (MRI) equipment, focusing on the R&D, production, and sales of superconducting magnets, permanent magnets, and gradient coils. It has established a comprehensive product matrix in the superconducting field, becoming the world's top independent supplier of superconducting magnets in the MRI industry [2] Important News - The Guangxi Futures Exchange announced adjustments to the trading fee standards, price fluctuation limits, and margin standards for platinum, palladium, and lithium carbonate futures contracts, effective from December 25, 2025. The trading fee for platinum and palladium futures will be adjusted to 0.025% of the transaction amount, while the fee for lithium carbonate futures will be set at 0.032%. The price fluctuation limit for platinum and palladium futures will be adjusted to 10%, with a margin requirement of 12% [3] - The sixth batch of national high-value medical consumables procurement has officially started, focusing on drug-coated balloons and urological intervention consumables, with bids opening on January 13, 2026. This round of procurement introduces two new features: the concept of anchor pricing and a multi-revival mechanism. The anchor pricing aims to balance price reduction and prevent malicious underpricing, helping to avoid excessive competition and collusion among companies [4]

Core Viewpoint - The Intercontinental Exchange (ICE) agricultural futures saw a majority of contracts rise, indicating a positive trend in the agricultural commodities market on December 23 [1] Group 1: Price Movements - Raw sugar futures increased by 1.20%, closing at 15.17 cents per pound [1] - Cotton futures rose by 0.64%, ending at 64.02 cents per pound [1] - Cocoa futures climbed by 0.95%, reaching $5,943.00 per ton [1] - Coffee futures experienced a slight decline of 0.17%, closing at 346.75 cents per pound [1]

Group 1 - The cryptocurrency market has experienced a significant shift, with Binance surpassing CME in Bitcoin futures open interest (OI) [1][3] - Binance's Bitcoin futures open interest has risen to approximately 125,000 BTC, valued at $11.2 billion, while CME's has decreased to around 123,000 BTC, marking a low since February 2024 [1][3] - The decline in CME's open interest is primarily due to the shrinking profit margins in basis trading, with the annualized basis rate dropping from 15% to around 5% [1][3] Group 2 - Retail trading platforms, particularly Binance, show stronger resilience as participants prefer directional trading over complex hedging strategies, maintaining stable positions amid volatility [2][4] - The rise of CME was largely driven by institutional accumulation ahead of the spot ETF launch, but this policy-driven advantage is gradually diminishing as the market matures [2][4] - The convergence of spot and futures prices reflects an increasingly efficient market, indicating that while institutional demand may be weakening, it does not signify a loss of appeal for digital assets [2][4]

Core Viewpoint - The exchanges have announced fee reductions for futures trading and related transactions in 2026, aiming to enhance market liquidity and attract more participants [1] Group 1: Fee Reductions - The Shanghai Futures Exchange, along with other exchanges, will waive fees for futures delivery, standard warehouse receipt transfer payments, and related transactions in 2026 [1] - The Shanghai Futures Exchange, Shanghai International Energy Exchange, Dalian Commodity Exchange, and Guangxi Futures Exchange will reduce the fees for hedging transactions by half, while Zhengzhou Commodity Exchange will waive the opening fees for hedging in futures varieties [1] - The China Financial Futures Exchange will also halve the fees for stock index futures and government bond futures delivery, as well as for stock index options exercise fees in 2026 [1]

Core Viewpoint - The Intercontinental Exchange (ICE) saw a majority of its agricultural futures contracts rise, indicating a positive trend in the agricultural commodities market on December 22. Group 1: Sugar Futures - Raw sugar futures increased by 1.21%, closing at 15.00 cents per pound [1]. Group 2: Cotton Futures - Cotton futures experienced a slight decline, falling by 0.22% to close at 63.61 cents per pound [1]. Group 3: Cocoa Futures - Cocoa futures rose by 0.60%, reaching a price of 5,880.00 dollars per ton [1]. Group 4: Coffee Futures - Coffee futures saw a significant increase of 2.22%, closing at 348.20 cents per pound [1].