知识图强,求实奉献,客户至上,合作共赢 | 贵金属期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 | | | | | | | 2026年3月23日 | | | | 叶倩宁 | Z0016628 | | 国内期货收盘价 品中 | 3月20日 | 3月19日 | 减失 | 张庆陽 | 单位 | | AU2604合约 | 1039.22 | 1062.00 | -22.78 | -2.15% | 元/完 | | AG2606合约 | 17625 | 17984 | -359 | -2.00% | 元/十兄 | | PT2606合约 | 509.75 | 506.95 | 2.80 | 0.55% | | | PD2606合约 | 368.85 | 371.45 | -2.60 | -0.70% | 元/克 | | 外盘期货收盘价 | | | | | | | 品种 | 3月20日 | 3月19日 | 张庆 | 水改脂 | 单位 | | COMEX黄金主力合约 | 4492.00 | 4651.90 | ...

贵金属期现日报 投资咨询业务资格:证监许可【 2011】1292号 2026年3月23日 鱼需声明 本报告中的信息均采源于被广发剧资育限公司认为可靠的已公开资料， 但广发剧货时这些信息的准确性及完整性不作任何保证。 本报告反映研究人员的不同观点 见解及分析方法，并不代表广发明货或其附属机构的立场。在任何情况下，报告内容仅供参考，报告中的信息或所表达的意见并不构成所达品种买卖的出价或问 价，投资者揭出投资，风险自担。本报告曾在发送给广发期货特定客户及其他专业人士，版权归广发期货所有，未经厂发现货书面侵权，任何人不得对本报告进行 任何形式的发布、复制。如引用、刊发，需注明出处为"广发期货"。 广发期货有限公司提醒广大投资者:期市有风险 入市需谨慎! 知识图强,求实奉献,客户至上,合作共赢 s Car t微信公众号 | 2026年3月23日 | | | | 叶倩宁 Z0016628 | | | --- | --- | --- | --- | --- | --- | | 国内期货收盘价 | | | | | | | 可押 | 3 20 F | 3 H 19 F | 张庆 | 派跌幅 | 中位 | | AU2604合约 ...

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - For gold, due to the Middle - East situation and the impact of US non - farm payroll data on the Fed's interest - rate cut expectations, gold is in a short - term volatile trend. It is recommended to wait and see for now, and consider taking profits on long positions at high levels or selling out - of - the - money call options to protect long positions [1]. - For silver, the logic of medium - to - long - term price increase driven by supply inventory shortage and strong investment demand still holds. However, short - term exchange rule adjustments and cautious capital attitudes limit the upward momentum. It is recommended to sell out - of - the - money call options to earn time value [1]. - For platinum and palladium, supported by macro - financial attributes and a tight supply pattern, with stable industrial demand and slightly increasing investment demand, prices are generally supported. But due to the drag of gold and silver, the short - term trend remains weakly volatile, and it is recommended to sell out - of - the money call options [1]. 3. Summary by Relevant Catalogs 3.1 Domestic Futures Closing Prices - AU2604 contract closed at 1152.00 yuan/gram on March 5, down 1.06 yuan or 0.09% from March 4 [1]. - AG2604 contract closed at 21639 yuan/ten grams on March 5, down 215 yuan or 0.98% from March 4 [1]. - PT2606 contract closed at 563.95 yuan/gram on March 5, up 0.45 yuan or 0.08% from March 4 [1]. - PD2606 contract closed at 428.00 yuan/gram on March 5, down 5.80 yuan or 1.34% from March 4 [1]. 3.2 Foreign Futures Closing Prices - COMEX gold主力 contract closed at 5093.30 on March 5, down 58.30 or 1.13% from March 4 [1]. - COMEX silver主力 contract closed at 82.52 on March 5, down 1.25 or 1.49% from March 4 [1]. - NYMEX platinum主力 contract closed at 2128.20 dollars/ounce on March 5, down 37.60 or 1.74% from March 4 [1]. - NYMEX palladium主力 contract closed at 1650.00 on March 5, down 48.50 or 2.86% from March 4 [1]. 3.3 Spot Prices - London gold was at 5084.69 on March 5, down 35.85 or 0.70% from the previous value [1]. - London silver was at 82.26 on March 5, down 1.28 or 1.54% from the previous value [1]. - Spot palladium was at 2120.10 dollars/ounce on March 5, down 46.90 or 2.16% from the previous value [1]. - Spot platinum was at 1629.50 on March 5, down 38.00 or 2.28% from the previous value [1]. - Shanghai Gold Exchange's gold + D was at 1148.56 on March 5, down 4.39 or 0.38% from the previous value [1]. - Shanghai Gold Exchange's silver T + D was at 21068 yuan/ten grams on March 5, down 493 or 2.29% from the previous value [1]. - Shanghai Gold Exchange's platinum 9995 was at 554 yuan/gram on March 5, up 3 or 0.47% from the previous value [1]. 3.4 Basis - The basis of gold TD - Shanghai gold主力 was - 3.44, down 3.33 from the previous day, with a 1 - year historical quantile of 46.10% [1]. - The basis of silver TD - Shanghai silver主力 was - 571, down 278 from the previous day, with a 1 - year historical quantile of 60.60% [1]. - The basis of London gold - COMEX gold was - 8.61, up 22.45 from the previous day, with a 1 - year historical quantile of 76.30% [1]. - The basis of London silver - COMEX silver was - 0.26, down 0.04 from the previous day, with a 1 - year historical quantile of 30.20% [1]. 3.5 Price Ratios - The ratio of COMEX gold/silver was 61.72, up 0.22 or 0.36% from the previous value [1]. - The ratio of Shanghai Futures Exchange's gold/silver was 53.24, up 0.48 or 0.90% from the previous value [1]. - The ratio of NYMEX platinum/palladium was 1.29, up 0.01 or 1.15% from the previous value [1]. - The ratio of Guangzhou Futures Exchange's platinum/palladium was 1.32, up 0.02 or 1.44% from the previous value [1]. 3.6 Interest Rates and Exchange Rates - The 10 - year US Treasury yield was 4.13, up 0.04 or 1.0% from the previous value [1]. - The 2 - year US Treasury yield was 3.57, up 0.03 or 0.8% from the previous value [1]. - The 10 - year TIPS Treasury yield was 1.82, up 0.02 or 1.1% from the previous value [1]. - The US dollar index was 99.04, up 0.25 or 0.25% from the previous value [1]. - The offshore RMB exchange rate was 6.9184, up 0.0238 or 0.35% from the previous value [1]. 3.7 Inventories and Positions - The Shanghai Futures Exchange's gold inventory was 105033, unchanged from the previous value [1]. - The Shanghai Futures Exchange's silver inventory was 272721 kilograms, down 22102 or 7.50% from the previous value [1]. - The COMEX gold inventory was 33100294, up 59808 or 0.18% from the previous value [1]. - The COMEX silver inventory was 351341925, down 877946 or 0.25% from the previous value [1]. - The COMEX gold registered warehouse receipts were 17003460, up 2000 or 0.01% from the previous value [1]. - The COMEX silver registered warehouse receipts were 81235306, down 5908189 or 6.78% from the previous value [1]. - The SPRD gold ETF position was 1076, down 5.15 or 0.48% from the previous value [1]. - The SLV silver ETF position was 15810, down 138.05 or 0.87% from the previous value [1].

Group 1: Investment Ratings - No investment rating for the industry is provided in the report [1] Group 2: Core Views - The future market may be more affected by US economic data's impact on Fed policy expectations and geopolitical disruptions. In the short - term, the precious metals market will maintain a strong oscillation, with gold's upward momentum increasing above the 20 - day moving average, and long positions should continue to be held [1] - Driven by factors such as capital sentiment, the short - term silver price trend is strong and hard to predict the peak, but the market fluctuates greatly. It is recommended to pay attention to risk control measures of exchanges, maintain the idea of buying on dips with light positions and lock in profits in a timely manner [1] - Platinum and palladium, supported by macro - financial attributes and a tight supply pattern, form a linkage with the rising trend of gold, and their price centers continue to rise. Given the current RMB appreciation, the overseas market prices perform stronger than the domestic ones, and it is recommended to buy on dips [1] Group 3: Summary by Relevant Catalogs Domestic Futures Closing Prices - The AU2604 contract rose 27.68 yuan/g to 1143.32 yuan/g, a 2.48% increase from January 23rd to January 26th - The AG2604 contract rose 2242 yuan/ten grams to 27207 yuan/ten grams, an 8.98% increase - The PT2606 contract rose 58.80 yuan/g to 744.70 yuan/g, an 8.57% increase - The PD2606 contract rose 36.85 yuan/g to 534.80 yuan/g, a 7.40% increase [1] Foreign Futures Closing Prices - The COMEX gold主力 contract rose 21.70 to 5004.80, a 0.44% increase - The COMEX silver主力 contract rose 0.63 to 103.89, a 0.61% increase - The NYMEX platinum主力 contract fell 197.60 to 2575.60 dollars/ounce, a 7.13% decrease - The NYMEX palladium主力 contract fell 54.50 to 1992.50, a 2.66% decrease [1] Spot Prices - London gold rose 28.57 to 5009.88, a 0.57% increase - London silver rose 0.53 to 103.87, a 0.52% increase - Platinum rose 106.00 to 2811.00 dollars/ounce, a 3.92% increase - Palladium rose 116.00 to 2092.00, a 5.87% increase - Shanghai Gold Exchange's gold T + D rose 33.91 yuan/g to 1144.26 yuan/g, a 3.05% increase - Shanghai Gold Exchange's silver T + D rose 2525 yuan/ten grams to 27513 yuan/ten grams, a 10.10% increase - Shanghai Gold Exchange's platinum 9995 rose 52 yuan/g to 733 yuan/g, a 7.59% increase [1] Basis - The basis of gold TD - Shanghai gold主力 increased 6.23 to 0.94, at the 46.10% quantile of the past year - The basis of silver TD - Shanghai silver主力 increased 283 to 306, at the 60.60% quantile of the past year - The basis of London gold - COMEX gold increased 6.87 to 5.08, at the 99.60% quantile of the past year - The basis of London silver - COMEX silver decreased 0.10 to - 0.02, at the 69.00% quantile of the past year [1] Price Ratios - The COMEX gold/silver ratio fell 0.08 to 48.17, a 0.17% decrease - The Shanghai Futures Exchange gold/silver ratio fell 2.67 to 42.02, a 5.96% decrease - The NYMEX platinum/palladium ratio fell 0.06 to 1.29, a 4.58% decrease - The Guangzhou Futures Exchange platinum/palladium ratio rose 0.02 to 1.39, a 1.09% increase [1] Interest Rates and Exchange Rates - The 10 - year US Treasury yield fell 0.02 to 4.22, a 0.5% decrease - The 2 - year US Treasury yield fell 0.04 to 3.56, a 1.1% decrease - The 10 - year TIPS Treasury yield fell 0.02 to 1.90, a 1.0% decrease - The US dollar index fell 0.45 to 97.05, a 0.47% decrease - The on - shore RMB exchange rate rose 0.0006 to 6.9492, a 0.01% increase [1] Inventory and Positions - The Shanghai Futures Exchange's gold inventory rose 1020 to 103050 ten grams, a 1.00% increase - The Shanghai Futures Exchange's silver inventory fell 7280 to 573810, a 1.25% decrease - The COMEX gold inventory fell 202778 to 35941502, a 0.56% decrease - The COMEX silver inventory fell 1183026 to 415241837, a 0.28% decrease - The COMEX gold registered warehouse receipts fell 386 to 18845680, a 0.00% decrease - The COMEX silver registered warehouse receipts remained unchanged at 114262775 - The SPDR gold ETF position remained unchanged at 1087 - The SLV silver ETF position fell 115.58 to 15974, a 0.72% decrease [1]