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]

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Last week, precious metal prices oscillated and declined. The cease - fire between Israel and Iran, Fed Chair Powell's statement on the lack of urgency to cut interest rates, and the Sino - US trade agreement on rare earth supply led to a significant decline in the price of gold as a safe - haven asset. Silver was more resilient but also fell on Friday [4][7]. - Trump criticized Canada's digital tax, terminated US - Canada trade negotiations, and threatened new tariffs. The US Treasury Secretary hinted at a possible extension of the "tariff deadline" from July 9 to September 1. The US and China finalized a trade understanding on rare earth exports, and the US will lift trade counter - measures if China exports rare earths to the US [4][8]. - With the easing of geopolitical risks in the Middle East, the improvement in Sino - US trade relations, and the rise in the US core PCE supporting Powell's view, market expectations of monetary easing have decreased, putting pressure on safe - haven assets. It is expected that the prices of gold and silver will continue to adjust in the short term [4][8]. Summary by Directory 1. Last Week's Trading Data - SHFE gold closed at 768.64 yuan/gram, down 9.94 yuan or 1.28%. Its total trading volume was 148,475 lots, and the total open interest was 178,255 lots [5]. - Shanghai Gold T + D closed at 763.08 yuan/gram, down 14.86 yuan or 1.91%. The total trading volume was 38,222 lots, and the total open interest was 213,128 lots [5]. - COMEX gold closed at 3286.10 dollars/ounce, down 98.30 dollars or 2.90% [5]. - SHFE silver closed at 8792 yuan/kilogram, up 128 yuan or 1.48%. The total trading volume was 522,479 lots, and the total open interest was 634,627 lots [5]. - Shanghai Silver T + D closed at 8748 yuan/kilogram, up 18 yuan or 0.21%. The total trading volume was 477,072 lots, and the total open interest was 3,111,050 lots [5]. - COMEX silver closed at 36.17 dollars/ounce, up 0.21 dollars or 0.60% [5]. 2. Market Analysis and Outlook - The decline in precious metal prices was due to the cease - fire in the Middle East, Powell's statement on interest rates, and the Sino - US trade agreement on rare earths. Silver was more resilient due to the strong performance of platinum and palladium but also fell on Friday [4][7]. - After the cease - fire declaration, there were still mutual attacks between Iran and Israel, but the conflict did not worsen further. Iran's foreign minister said there was no plan to restart nuclear negotiations [7]. - Powell maintained a wait - and - see stance on interest rates, which dissatisfied Trump. Trump considered announcing Powell's successor in advance, causing market concerns [8]. - The US - Canada trade relationship became tense again, but Sino - US trade relations improved. The rise in the US core PCE supported Powell's view, and short - term gold and silver prices are expected to continue adjusting [4][8]. - This week, focus on the US June non - farm payroll data and the global central bank forum, especially Powell's remarks [9][11]. 3. Important Data Information - In May, the US core PCE price index rose 2.7% year - on - year, slightly exceeding expectations. The core PCE price increased 0.2% month - on - month, while real personal consumption expenditure decreased 0.3% month - on - month, and personal income decreased 0.4% month - on - month. Fed's Kashkari still expects two rate cuts this year, with the first possibly in September [12]. - The final value of the US Q1 real GDP decreased 0.5% annually and quarter - on - quarter, higher than expected. Personal consumption growth was revised down to 0.5%, and the core PCE price index was revised up to 3.5% [12]. - Last week, the number of initial jobless claims in the US decreased by 10,000 to 236,000, lower than expected. The number of continuing jobless claims in the previous week rose to 1.974 million, the highest since November 2021 [12]. - The initial value of US durable goods orders in May increased 16.4% month - on - month, the largest increase since July 2014. Core capital goods orders increased 1.7% [13]. - The initial value of the US S&P Global Services PMI in June was 53.1, and the manufacturing PMI was 5.0, the highest since February. The raw material payment price index rose 5.4 points, and the price acceptance index also increased [13]. - The initial value of the Eurozone's June composite PMI was 50.2, lower than expected. Germany's composite PMI rose to 50.4, while France's fell to 48.5 [13]. - US consumer confidence in June unexpectedly declined. The consumer confidence index decreased 5.4 points to 93 [13]. - The one - year inflation expectation in the Michigan University consumer survey was adjusted from 5.1% to 5.0%, and the 5 - year inflation expectation was 4.0%, both lower than the previous values [14]. 4. Related Data Charts - As of June 27, 2025, the total gold position in ETFs was 954.82 tons, an increase of 4.58 tons from the previous week. The silver position in ishare was 14,866.19 tons, an increase of 115.91 tons from the previous week [15]. - As of June 24, 2025, the non - commercial net long position in gold futures was 195,004, a decrease of 5,644 from the previous week. The non - commercial net long position in silver futures was 62,947, a decrease of 4,227 from the previous week [17]. - The report also provides multiple charts showing the price trends, inventory changes, net long position changes, and price differences of precious metals, as well as the relationships between precious metals and other economic indicators such as the US dollar index, inflation expectations, and bond yields [19][21][26]

Core Insights - The spot gold trading market is undergoing significant transformation due to rapid advancements in financial technology, with trading software being a key tool for investors [1] Group 1: Technological Upgrades in Trading Software - Leading trading software is focusing on optimizing functions, enhancing user experience, and strengthening risk management through technological upgrades [1] - Companies are implementing advanced AI algorithms to analyze trading behaviors and preferences, providing personalized investment advice [3] - The integration of big data and AI technologies allows for precise market analysis and timely alerts for users [4] Group 2: User Experience Enhancements - Companies are prioritizing user experience by redesigning trading interfaces for clarity and ease of use, enabling quick transaction execution even under poor network conditions [6] - The introduction of 3D charts and dynamic data visualization enhances market trend understanding for investors [6] - Enhanced customer service through a combination of AI and human support ensures 24/7 professional consultation for users [6] Group 3: Security and Risk Management - Companies are focusing on improving transaction security by employing advanced encryption algorithms and multi-factor authentication [10] - Real-time risk assessment models are being introduced to monitor each transaction and provide timely alerts when risk thresholds are exceeded [7] - The development of intelligent risk control systems allows for comprehensive monitoring of various risk types, adjusting measures automatically [12] Group 4: Globalization and Market Connectivity - Firms are innovating trading tools to connect with global markets, allowing investors to monitor multiple international gold markets simultaneously [5] - The optimization of global server configurations ensures low-latency trading experiences for users worldwide [5] - The introduction of localized services and language support aims to eliminate trading barriers for global investors [5] Group 5: Diversification of Services - Companies are expanding their service offerings to include trading in other precious metals and financial derivatives, providing a broader range of investment options [8] - The integration of blockchain technology enhances transaction transparency and security, while smart contract functionalities automate trade execution based on preset conditions [8] - Personalized market insights and investment advice are being delivered through data analysis of user needs [8] Group 6: Innovative Trading Strategies - The exploration of IoT technology allows for interconnected trading devices, enabling investors to monitor trades and receive alerts from smart devices [9] - The development of deep learning-based quantitative trading strategy generators simplifies the creation of personalized trading strategies for investors [9] - Enhanced social trading features promote interaction and experience sharing among investors [9]

上海黄金交易所黄金T+D 6月30日（周一）早盘盘初下跌1.0%报758.35元/克； 上海黄金交易所白银T+D 6月30日（周一）早盘盘初下跌1.27%报8678.0元/千克。 黄金延期 白银延期 ...

市场风险偏好继续改善的背景下，贵金属价格全线回落。 上周五（6月27日），纽约商品交易所黄金期货市场交投最活跃的2025年8月黄金期价当日收盘下跌55.5 美元，收于每盎司3286.1美元，跌幅为1.66%。 当周金价累计下跌近3%，为连读第二周周线下跌。避险需求减弱成为金价下挫的主要原因。 随着以色列和伊朗在周初达成停火协议，对地缘局势升级的担忧减弱，加上贸易局势出现缓和迹象，均 削弱了避险资产黄金的吸引力，促发了金价的获利了结。 据CME"美联储观察"，美联储7月维持利率不变的概率为81.9%，而此前一日这一概率为77.3%。 不过当天稍晚公布的美国6月密歇根大学一年期通胀预期终值则为5%，低于预期的5.2%。加上美国5月 消费者支出出人意料地出现下降，交易员对美联储年内累计降息75个基点、并从9月开始降息的押注有 所增加。 但在短期内，风险偏好转暖带来的抛售仍占据主导。有市场分析人士表示，随着贸易紧张局势减弱和中 东停火协议延续，黄金吸引力减弱，促使部分投资者选择退出。 在此背景下，周一（6月30日）早盘开盘后，金价进一步下挫。纽约期金电子盘低点一度逼近3250美元 ／盎司，刷新逾一个月低点。 在金价大 ...

6月27日晚间， 国际贵金属突然猛烈跳水 ， 黄金大跌。 黄金、铂金双双大跌 。截至20:36，伦敦金现货价格跌1.69%至3271美元/盎司，一日大跌超 50美元；COMEX黄金期货价格跌至3289美元/盎司，二者均触及近四周以来新低，现货铂金跌 幅更猛烈，截至20:36，跌幅超6%，报1329美元/盎司。 | < w | COMEX M-寅金 | | | | | | --- | --- | --- | --- | --- | --- | | | QO.CMX | | | | | | 3289.00 | 昨结 | 3348.00 | | 开盘 | 3341.00 | | -59.00 | -1.76% 总手 | | 3180 现手 | | 1 | | 最高价 | 3341.75 持 | | 1379 外 盘 | | 896.00 | | 最低价 | 3283.75 增 仓 | | -98 内 盘 | | 2284.00 | | 关时 | 五日 日K | | 周Ｋ 月K | 重量 | 0 | | 營加 | | | | 盘口 | | | 3412.25 | | | | 1.92% 卖1 3289.25 | 1 ...

上海黄金交易所黄金T+D 6月27日（周五）晚盘收盘下跌0.65%报761.0元/克； 上海黄金交易所白银T+D 6月27日（周五）晚盘收盘下跌1.02%报8700.0元/千克。 黄金延期 白银延期 ...

上海黄金交易所黄金T+D 6月27日（周五）晚盘盘初下跌0.39%报763.0元/克； 上海黄金交易所白银T+D 6月27日（周五）晚盘盘初下跌1.02%报8700.0元/千克。 黄金延期 白银延期 ...

Group 1 - The international spot gold price is currently at $3284.41 per ounce, while the Shanghai gold futures contract has seen a slight increase of 0.12% to 774.06 yuan per gram, indicating a market in a wait-and-see mode following recent geopolitical tensions and tariff news [1] - The ceasefire agreement between Israel and Iran has reduced market risk aversion, but ongoing tensions, particularly regarding Iran's compliance, continue to pose risks to gold prices [2] - Upcoming discussions between Trump and Putin regarding the Ukraine war may also influence gold market trends, alongside U.S. economic policies that could significantly impact gold prices [3] Group 2 - The market is anticipating significant volatility due to upcoming fundamental information, suggesting that the current wait-and-see state is nearing an end, presenting potential trading opportunities [4] - The trading environment is being enhanced by promotional offers from companies like Giant Gold, which is providing bonuses and low trading costs to attract traders [6][8]

Core Viewpoint - The article emphasizes the enduring status of gold as a safe-haven asset in the global financial market, highlighting the increasing enthusiasm for gold trading among investors due to its value preservation characteristics and advancements in trading technology [1]. Group 1: Overview of Gold Trading Platforms - The article evaluates ten representative international gold trading platforms based on regulatory compliance, trading security, market reputation, service quality, trading costs, and user feedback [1]. - The platforms are selected to provide a reliable reference guide for investors looking for safe and efficient trading options [1]. Group 2: Individual Platform Highlights - **Jinrong China**: Recognized for its 15 years of brand accumulation and technology-driven services, it has processed over 600 million orders and offers a low latency trading environment [3]. - **Wanzhou Gold**: Known for its cost-effective trading model with a spread of $0.2 per ounce and zero commission, it features advanced risk control mechanisms and supports various trading strategies [4]. - **Lingfeng Precious Metals**: Offers AA-level regulatory oversight and a diverse range of gold products, with a focus on providing trading strategies based on geopolitical events and Federal Reserve policies [5]. - **Hansheng Gold**: Provides 24-hour trading services for precious metals, emphasizing investor education and a stable trading system [6]. - **Dingzhan Gold**: Features high-level regulatory compliance and multi-language support, catering to a global investor base [8]. - **Antong Global**: A well-established platform with a transparent compliance background and independent fund segregation, enhancing investor trust [9]. - **Fude Precious Metals**: Boasts a global presence with ASIC regulation, offering a professional trading interface and market analysis tools [10]. - **Meijian Zhihui**: Known for its stable system and excellent spread control, suitable for conservative investors [11]. - **Yatai Gold**: Provides localized services and exceptional technical support, focusing on regional investor needs [12]. - **Bailihao Precious Metals**: Offers flexible leverage options and a transparent fee structure, ensuring a secure trading environment for various risk preferences [13].