| 贵金属期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292号 2026年1月9日 | | | | 叶偉宁 | Z0016628 | | 国内期货收盘价 | | | | | | | 品种 | 1月8日 | 1月7日 | 张跌 | 张跌幅 | 車位 | | AU2602合约 | 997.94 | 068.860 | -0.96 | -0.10% | 元/兄 | | AG2604合约 | 18450 | 19290 | -840 | -4.35% | 元/千克 | | PT2606合约 | 575.00 | 598.50 | -23.50 | -3.93% | | | PD2606合约 | 460.70 | 475.95 | -15.25 | -3.20% | 元/克 | | 外盘期货收盘价 | | | | | | | | | 1月7日 | | | 单位 | | 品种 | 1月8日 | | 张跌 | 涨跌幅 | | | COMEX黄金主力合约 | 4487.90 | 4467.10 | 20.80 | 0 ...

1月8日，沪银期货盘面表现偏弱，截至发稿主力合约大幅下跌3.01%，报19016.00元/千克。 【消息面汇总】 据上期所公告，自2026年1月9日(星期五)收盘结算时起，白银期货AG2601、AG2602、AG2603、AG2604合约的涨跌停板幅度调整为16%，套保持 仓交易保证金比例调整为17%，一般持仓交易保证金比例调整为18%。白银期货AG2604合约日内平今仓交易手续费调整为成交金额的万分之二点 五。 汇丰银行：预计2026年白银供应缺口将收窄至1.4亿盎司，2027年进一步收窄至5900万盎司。 1月6日芝加哥商业交易所(CME)：白银期货成交量为157766手，较上个交易日增加5692手。未平仓合约为153408手，较上个交易日增加931手。 机构观点 铜冠金源期货：贵金属在持续飙升屡创新高之后正在遭受国内外交易所监管持续加码，以及彭博商品指数权重调整而带来的流动性的考验。虽然 我们长期看好贵金属的逻辑保持不变，短期面临的调整压力加大，投资者以获利了结为宜。 国信期货：展望后市，预计短期市场将从前期的单边上涨转为高位震荡，以消化近期涨幅并等待新的宏观指引。技术面上，COMEX黄金主力合 约下方 ...

| 2026年1月6日 | 投资咨询业务资格:证监许可【2011】1292 | | | | | | | | | 熊客健 | Z0019608 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 种类 | | 日期 | | 品种 | | IRR (%) | | 最新值 | 较前一交易日变化 | 上市以来百分位数 | | | | | | 2026-01-05 | TS基差 | | 1.4303 | | 0.0004 | 0.0074 | 17.50% | | | 基差 | | | 2026-01-05 | TF基差 | | 1.6224 | | -0.0349 | 0.0290 | 44.00% | | | | | | 2026-01-05 | T基差 | | 1.2733 | | 0.0966 | -0.0665 | 42.90% | | | | | | 2026-01-05 | TL基差 | | 1.5810 | | 0.3365 | -0.4905 | 54.30% | | | | | | 2026- ...

| 贵金属期现日报 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可【2011】1292 2025年12月29日 | | | | | 叶偏古 | Z0016628 | | 国内期货收盘价 | | | | | | | | 品种 | | 12月26日 | 12月25日 | 涨跌 | 张跌幅 | 单位 | | AU2602合约 | | 1016.30 | 1008.76 | 7.54 | 0.75% | 元/牙 | | AG2602合约 | | 18319 | 17397 | 922 | 5.30% | 元/千克 | | PT2606合约 | | 686 de | 657.65 | 29.30 | 4.46% | | | PD2606合约 | | 529.05 | 578.45 | -49.40 | -8.54% | 元/克 | | 外盘期货收盘价 | | | | | | | | 品种 | | 12月26日 | 12月24日 | 张跃 | 张跌幅 | 单位 | | COMEX黄金主力合约 | | 4562.00 | 4 ...

1. Report Industry Investment Rating - No relevant content found in the provided reports. 2. Core Views - No clear core views are explicitly stated in the provided reports. The reports mainly present various data on different futures and industries including股指期货, bond futures, precious metals, and container shipping. 3. Summaries by Related Catalogs 3.1 Stock Index Futures Spreads - **IF Spreads**: The IF spot - futures spread was 3.52, up from the previous day. The historical 1 - year and full - history percentiles were 58.90% and 82.70% respectively. For IF inter - delivery spreads, different combinations showed various values and percentile positions [1]. - **IH Spreads**: Similar to IF, IH spreads had specific values and percentile changes compared to the previous day [1]. - **IC Spreads**: The IC spot - futures spread was 897, with high historical percentiles. Inter - delivery spreads also had their own values and changes [1]. - **IM Spreads**: The IM spot - futures spread was 6.26. Inter - delivery spreads showed different magnitudes and percentile positions [1]. - **Cross - Variety Ratios**: Ratios such as CSI 500/Shanghai Composite 300, CSI 500/Shanghai Composite 50, and others had their current values, changes, and historical percentiles [1]. 3.2 Bond Futures Spreads - **IRR and Basis**: For different bond futures like TS, TF, T, and TL, their implied repo rates (IRR) and basis had specific values, changes, and percentiles on December 17, 2025 [2]. - **Inter - Delivery Spreads**: Inter - delivery spreads for different bond futures contracts (e.g., current quarter - next quarter, current quarter - far quarter) had their values, changes, and percentiles [2]. - **Cross - Variety Spreads**: Cross - variety spreads such as TS - TF, TS - T, etc. also had corresponding data on December 17, 2025 [2]. 3.3 Precious Metals Spot - Futures - **Domestic Futures**: On December 17, 2025, domestic futures contracts like AU2602, AG2602, PT2606, and PD2606 had their closing prices, price changes, and percentage changes compared to the previous day [3]. - **Foreign Futures**: Foreign futures contracts such as COMEX gold, COMEX silver, NYMEX platinum, and NYMEX palladium also had their closing prices, price changes, and percentage changes [3]. - **Spot Prices**: Spot prices of precious metals including London gold, London silver, and others had their values, changes, and percentage changes [3]. - **Basis**: The basis between different spot and futures prices (e.g., gold TD - Shanghai gold, London gold - COMEX gold) had specific values, changes, and historical percentiles [3]. - **Ratios**: Ratios like COMEX gold/silver, Shanghai Futures Exchange gold/silver, and others had their current values, changes, and percentage changes [3]. - **Interest Rates and Exchange Rates**: 10 - year and 2 - year US Treasury yields, 10 - year TIPS Treasury yields, the US dollar index, and the offshore RMB exchange rate had their values, changes, and percentage changes [3]. - **Inventory and Holdings**: Inventories of precious metals in different exchanges and ETF holdings had their values, changes, and percentage changes [3]. 3.4 Container Shipping Industry - **Shipping Indexes**: The SCFIS (European and US West routes) and SCFI (composite, European, US West, and US East routes) had their settlement or freight rates, changes, and percentage changes [5]. - **Futures Prices and Basis**: Futures contracts like EC2602 (main contract) and others had their prices, changes, and percentage changes. The basis of the main contract also had its value and change [5]. - **Fundamental Data**: Global container shipping capacity supply had a slight change. Shanghai port - related indicators such as port on - time rate, port berthing situation, and monthly export volume had their values and percentage changes. Overseas economic indicators including Eurozone PMI, EU consumer confidence index, and US manufacturing PMI also had their changes [5].

注 被包公众 | 贵金属期现日报 | | | | | | | --- | --- | --- | --- | --- | --- | | 投资咨询业务资格:证监许可 【 2011】1292号 | | | | 叶倩宁 | | | 2025年11月27日 | | | | | Z0016628 | | 国内期货收盘价 | | | | | | | 品中 | 11月26日 | 11月25日 | 涨跌 | 涨跌幅 | 单位 | | AU2602合约 | 946.72 | 946.50 | 0.22 | 0.02% | 7L/52 | | AG2602合约 | 12227 | 12127 | 100 | 0.82% | 元/千克 | | 外盘期货收盘价 | | | | | | | 品种 | 11月26日 | 11月25日 | 涨跌 | 张联帽 | 单位 | | COMEX黄金主力合约 | 4196.10 | 4126.30 | 69.80 | 1.69% | | | COMEX白银主力合约 | 53.76 | 51.08 | 2.68 | 5.25% | 美元/盎司 | | 现货价格 | | | | | | | 品中 | ...

本周回顾 · 股票市场 本周（11月10日至11月14日）A股市场主要宽基指数悉数回调。其中，上证指数周度下跌0.18%；深证成指周度下跌1.40%；创业板指周度下跌3.01%；新华 500指数周度下跌1.09%。 新华500指数本周震荡回调，开盘报5180.21点，至14日收盘报5111.18点，全周振幅2.01%，成交额为3.43万亿元。 从申万一级行业来看，本周行业指数涨多跌少，综合、纺织服饰、商贸零售、美容护理、医药生物等行业指数涨幅居前，通信、电子、计算机、机械设备、 国防军工等行业指数跌幅居前。 外汇市场方面，美元指数本周整体走势承压，一度跌破99关口，周五收于99.28点，累计下跌0.26%，为连续第二周收跌。尽管美国联邦政府史上最长"停 摆"结束，但"停摆"导致美国部分关键经济数据发布缺失，令外界难以判断美国经济真实状况。非美货币多数上行，其中欧元兑美元累计上涨0.48%，日元兑 美元累计下挫0.72%，英镑兑美元累计上涨0.08%。加密货币市场本周全线下挫，比特币跌破95000美元。 | | 11月10日-11月14日当周数 | | | --- | --- | --- | | 分类 | 名称 ...

Report Industry Investment Rating No relevant content provided. Core Viewpoints No clear core viewpoints are presented in the reports. The reports mainly provide various data on different financial products such as stock index futures spreads, bond futures spreads, precious metals, and container shipping. Summary by Relevant Catalogs Stock Index Futures Spreads - **IF期现价差**: The latest value is -29.70, down -11.10 from the previous day, with a 1 - year historical quantile of 27.80% and an all - time historical quantile of 13.60% [1]. - **IH期现价差**: The latest value is -4.77, down -5.02 from the previous day, with a 1 - year historical quantile of 31.10% and an all - time historical quantile of 34.70% [1]. - **IC期现价差**: The latest value is -116.23, down -22.22 from the previous day, with a 1 - year historical quantile of 13.50% and an all - time historical quantile of 2.00% [1]. - **IM期现价差**: The latest value is -151.33, down -11.21 from the previous day, with a 1 - year historical quantile of 50.00% and an all - time historical quantile of 9.80% [1]. - **跨品种比值**: For example, the ratio of CSI 500 to SSE 300 is 1.5612, down -0.0147 from the previous day, with a 1 - year historical quantile of 84.00% and an all - time historical quantile of 64.90% [1]. Bond Futures Spreads - **IRR and Basis**: For example, the IRR of a certain bond is 1.7186, down -0.0401 from the previous day, with a historical percentile since listing of 33.40% [4]. - **跨期价差**: For TS, the spread between the current quarter and the next quarter is 0.0400, up 0.0020 from the previous day, with a historical percentile of 31.40% [4]. - **跨品种价差**: For example, the spread between TS and TF is -3.5320, up 0.0020 from the previous day, with a historical percentile of 8.30% [4]. Precious Metals - **Domestic Futures Closing Prices**: The AU2512 contract closed at 915.58 yuan/gram on November 4, down -7.00 yuan or -0.76% from November 3. The AG2512 contract closed at 11238 yuan/kilogram, down -217 yuan or -1.89% [5]. - **Foreign Futures Closing Prices**: The COMEX gold主力 contract closed at 3941.30 dollars/ounce on November 4, down -72.40 dollars or -1.80% from November 3. The COMEX silver主力 contract closed at 46.90 dollars, down -1.01 dollars or -2.12% [5]. - **Spot Prices**: London gold was at 3931.95 dollars/ounce on November 4, down -69.12 dollars or -1.73% from November 3. London silver was at 47.12 dollars/ounce, down -0.95 dollars or -1.97% [5]. - **Basis**: The basis of gold TD - Shanghai gold主力 is 0.10, up 2.48 from the previous value, with a 1 - year historical quantile of 93.90% [5]. - **Ratios**: The ratio of COMEX gold to silver is 84.05, up 0.27 or 0.32% from the previous day [5]. - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield is 4.10%, down -0.03% from the previous day. The US dollar index is 100.21, up 0.33 or 0.33% [5]. - **Inventory and Positions**: The Shanghai Futures Exchange gold inventory is 87816, unchanged from the previous day. The Shanghai Futures Exchange silver inventory is 665610 kilograms, up 6759 kilograms or 1.03% [5]. Container Shipping - **Spot Quotes**: MAERSK's Shanghai - Europe 6 - week future freight rate reference is 2457 dollars/FEU on November 4, up 199 dollars or 8.81% from November 3 [7]. - **Shipping Indexes**: The SCFIS (European route) settlement price index is 1208.71 on November 3, down -104.0 or -7.92% from October 27. The SCFIS (US West route) is 1267.15, up 159.8 or 14.43% [7]. - **Futures Prices and Basis**: The EC2602 contract is 1593.7 on November 4, up 1.5 or 0.09% from November 3. The basis of the main contract is -276.3, down -1.5 or 0.55% [7]. - **Fundamentals**: The global container shipping capacity supply is 3335.89 million TEU on November 4, unchanged from November 3. The Shanghai port on - time rate in September is 42.77%, up 24.46 percentage points or 133.59% from August [7].

Report Summary of Futures Market Data 1. Report Industry Investment Rating No investment rating is provided in the reports. 2. Core View The reports present a comprehensive set of data on various futures markets including stock index futures, bond futures, precious metal futures, and container shipping futures. These data cover price differences, ratios, yields, exchange rates, inventories, and other relevant indicators, providing investors with a basis for analyzing market trends and potential investment opportunities. 3. Summary by Relevant Catalogs Stock Index Futures - **Price Differences**: The reports detail the price differences between futures and spot prices, as well as across different contract months for IF, IH, IC, and IM stock index futures. For example, the IF period - spot price difference is -9.27, and the H period - spot price difference is 3.65 [1]. - **Historical Percentiles**: Each price difference is accompanied by its historical percentile over the past year and the entire futures - listing period, helping investors understand the relative position of the current price difference [1]. - **Cross - Variety Ratios**: Ratios such as CSI 500/Shanghai Composite 300, IC/IF, and others are provided, with their changes and historical percentiles [1]. Bond Futures - **IRR and Basis**: Information on the implied repo rate (IRR) and basis for different bond futures contracts (TS, TF, T, TL) is given, along with their changes and historical percentiles [2]. - **Cross - Period and Cross - Variety Spreads**: Cross - period spreads (e.g., current quarter - next quarter) and cross - variety spreads (e.g., TS - TF) are presented, including their values, changes, and historical percentiles [2]. Precious Metal Futures - **Price and Spread**: The reports include domestic and foreign futures closing prices, spot prices, basis, and ratios of gold and silver. For instance, the AU2512 contract closed at 921.92 yuan/gram, and the COMEX gold主力 contract closed at 4077.20 dollars [3]. - **Interest Rates, Exchange Rates, and Inventories**: Data on 10 - year and 2 - year US Treasury yields, the US dollar index, offshore RMB exchange rate, and inventories of precious metals in different exchanges are provided [3]. Container Shipping Futures - **Spot Quotes**: Spot quotes for shipping from Shanghai to Europe by different shipping companies (MAERSK, CMA, MSC, etc.) are presented, along with their changes and percentage changes [4]. - **Shipping Indexes**: Settlement price indexes such as SCFIS (European and US West routes) and Shanghai export container freight indexes (SCFI) are given, showing their growth rates [4]. - **Futures Prices and Basis**: Futures prices of different contracts (EC2602, EC2512, etc.) and the basis of the main contract are reported, along with their changes [4]. - **Fundamental Data**: Information on global container shipping capacity supply, port - related indicators (quasi - punctuality rate, berthing situation), monthly export balance, and overseas economic indicators (eurozone PMI, EU consumer confidence index, etc.) is provided [4].

Report 1: Stock Index Futures Spread Daily Report Core View - Presents the latest values, changes from the previous day, 1 - year historical quantiles, and all - time historical quantiles of various stock index futures spreads and cross - variety ratios on October 20, 2025 [1]. Summary by Category - **Futures - Spot Spreads**: F futures - spot spread is - 29.03, down 0.61 from the previous day; H futures - spot spread is - 4.77, down 4.58; IC futures - spot spread is - 152.87, up 0.50%; IM futures - spot spread is 70.00% (the value seems to have a format issue in the original text) [1]. - **Inter - period Spreads**: For example, in F inter - period spreads, the spread between the next - month and the current - month is - 43.80, down 29.40 [1]. - **Cross - variety Ratios**: The ratio of CSI 500 to SSE 300 is - 0.0116, up 1.5542; the ratio of CSI 500 to SSE 50 is 2.3641, down 0.0311 [1]. Report 2: Bond Futures Price Spread Daily Report Core View - Provides the latest values, changes from the previous trading day, and historical quantiles since listing of various bond futures bases, inter - period spreads, and cross - variety spreads as of October 20, 2025 [2]. Summary by Category - **Bases**: TS base is 1.5643, down 0.0313; TF base is 1.7127, down 0.0348; T base is 1.7176; TL base is 1.7225, up 0.2457 [2]. - **Inter - period Spreads**: For TS inter - period spreads, the spread between the current - quarter and the next - quarter is 0.0850, down 0.0200 [2]. - **Cross - variety Spreads**: The spread between TS and TF is - 3.4020, down 0.0590; the spread between TS and T is - 5.9170, down 0.1140 [2]. Report 3: Precious Metals Futures - Spot Daily Report Core View - Displays the closing prices of domestic and foreign precious metals futures, spot prices, bases, ratios, interest rates, exchange rates, inventories, and positions on October 20, 2025 [3]. Summary by Category - **Futures Closing Prices**: The AU2512 contract closed at 999.80 yuan/gram on October 17, up 33.38 from the previous day; the COMEX gold主力 contract closed at 4267.90 dollars/ounce, down 76.40 [3]. - **Spot Prices**: London gold was at 4251.45 dollars/ounce on October 17, down 75.03; the Shanghai Gold Exchange's gold T + D was at 995.90 yuan/gram, up 28.61 [3]. - **Bases**: The base of gold TD - Shanghai gold主力 is - 3.90, down 4.77; the base of London gold - COMEX gold is - 16.45, up 1.37 [3]. - **Ratios**: The ratio of COMEX gold to silver is 84.30, up 3.00; the ratio of SHFE gold to silver is 81.62, up 1.20 [3]. - **Interest Rates and Exchange Rates**: The 10 - year US Treasury yield is 4.02%, up 0.03%; the US dollar index is 98.56, up 0.20 [3]. - **Inventories and Positions**: The SHFE gold inventory is 84606 kilograms, up 3645; the SPRD gold ETF position is 1047, up 12.59 [3]. Report 4: Container Shipping Industry Futures - Spot Daily Report Core View - Covers spot quotes, container shipping indices, futures prices, bases, and fundamental data of the container shipping industry on October 20, 2025 [5]. Summary by Category - **Spot Quotes**: MAERSK's Shanghai - Europe 6 - week future freight rate is 1900 dollars/FEU on October 20, up 15 from the previous day [5]. - **Container Shipping Indices**: The SCFIS (European route) settlement price index is 1031.80 on October 13, down 14.7 from October 6 [5]. - **Futures Prices and Bases**: The EC2602 contract is at 1472.0 on October 17, up 42.8; the base of the main contract is - 384.4, down 5.4 [5]. - **Fundamental Data**: The global container shipping capacity supply is 3321.84 million TEU on October 20, unchanged from the previous day; the port on - time rate in Shanghai in September is 42.77, up 24.46 from August [5].