Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - Near the December Federal Reserve FOMC meeting, the US dollar index has recently peaked and declined, and further interest rate cuts remain a high - probability scenario. A - share major indices have also rebounded, but the trading volume does not support a breakthrough. [3] - There may be incremental information that could break the bond market's consolidation in the short term. Attention should be paid to the central bank's bond - buying scale in October announced in early November. [3] - Gold prices have broken through previous resistance and are expected to rise further above $4200; silver prices may further approach the previous high of $54 under the influence of the delivery period. [3] Summary by Related Catalogs Financial Sector Stock Index - With the pro - cyclical sector performing strongly, all stock indices have risen. Short - term advice is to lightly sell December put options. When volatility is low, one can gradually build a bull spread on dips to layout for the spring market. [3] Treasury Bonds - As funds have loosened, treasury bond futures have rebounded slightly. In the short term, if there is unexpectedly positive news, treasury bond futures may have a phased rebound; otherwise, it will be difficult to break out of the consolidation. Unilateral strategies suggest reducing left - hand operations, and attention should be paid to the central bank's bond - buying scale and the implementation of redemption regulations. For cash - and - carry strategies, attention should be paid to the 2603 contract's cash - and - carry and basis - widening strategies. [3] Precious Metals - Gold prices are expected to rise further above $4200; silver prices may approach the previous high of $54. Platinum strategies should maintain a low - buying approach or buy out - of - the - money call options, and a long - platinum short - lithium hedge can also be tried. [3] Black Sector - For steel, consider a long - rebar short - iron - ore arbitrage and narrow the spread between hot - rolled coil and rebar. Iron ore is expected to be volatile and bullish, with a reference range of 750 - 820. Coking coal and coke are expected to rebound in a volatile manner, and 1 - 5 reverse spreads are recommended. [3] Non - ferrous Sector - Copper prices have risen again due to supply shortage concerns. For aluminum, short - term low - buying is recommended. For tin, hold previous long positions and buy on dips. For other non - ferrous metals, specific trading ranges and strategies are provided. [3] New Energy Sector - Industrial silicon futures have declined after volatility, with a price range of 8500 - 9500 yuan/ton. For polysilicon, buy out - of - the - money put options. For lithium carbonate, wait and see. [3] Energy and Chemical Sector - For various chemical products such as PX, PTA, short - fiber, etc., different trading strategies are provided according to their supply - demand situations, including high - level consolidation, short - term low - level cash - and - carry, and narrowing processing fees. [3] Agricultural Sector - For agricultural products such as grains, oils, sugar, cotton, etc., different market trends and trading suggestions are given, such as narrow - range consolidation, following overseas markets to rise, and bottom - level consolidation. [3]