| 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6日 | | | | 叶倩宁 | Z0016628 | | 国内期货收盘价 | | | | | | | 品种 | 3月5日 | 3月4日 | 涨跌 | 张跌幅 | 单位 | | AU2604合约 | 1152.00 | 1153.06 | -1.06 | -0.09% | 元/兄 | | AG2604合约 | 21639 | 21854 | -215 | -0.98% | 元/十兄 | | PT2606合约 | 563.95 | 563.50 | 0.45 | 0.08% | 元/完 | | PD2606合约 | 428.00 | 433.80 | -5.80 | -1.34% | | | 外盘期货收盘价 | | | | | | | 品种 | 3月5日 | 3月4日 | 涨跌 | 张跌幅 | 单位 | | COMEX黄金主力合约 | 5093.30 | 5151.60 | -58.30 | -1.13% | | | COME ...

NYMEX铂金主力合约大涨6%，现报2693.2美元/盎司。NYMEX钯金主力合约大涨5%，现报1979.0美 元/盎司。 ...

每经AI快讯，1月27日，NYMEX钯金主力合约暴跌12%，现报1925.5美元/盎司。 ...

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Views of the Report - The market will be more affected by U.S. economic data's impact on Fed policy expectations and geopolitical situations. In the short term, the influence of news will weaken, and the market will maintain a strong and volatile trend with reduced fluctuations. Gold long - positions above the 20 - day moving average can be held, and selling out - of - the - money put options can earn time value [1] - For silver, the short - term suspension of the 232 investigation tariff in the U.S. and the exchange's position - limit measures have eased capital sentiment. The price may enter a high - level consolidation phase. It is recommended to wait for the market volatility to decline and then buy on dips, or sell out - of - the money options to earn volatility - reduction returns [1] - Under the influence of strong macro and supply - demand fundamentals, platinum will fluctuate strongly in the short term but with a narrowing range. Platinum futures are recommended to be traded with high - selling and low - buying around the 20 - day moving average, with a fluctuation range of 587 - 640 yuan. Palladium performs weaker than platinum, and out - of - the money call options above 510 yuan can be sold [1] Group 3: Summary by Related Catalogs Domestic Futures Closing Prices - AU2602 contract closed at 1032.32 yuan/gram on January 16, down 2.88 yuan (-0.28%) from January 15 [1] - AG2604 contract closed at 22483 yuan/kilogram on January 16, down 182 yuan (-0.80%) from January 15 [1] - PT2606 contract closed at 610.05 yuan/gram on January 16, up 1 yuan (0.16%) from January 15 [1] - PD2606 contract closed at 469.35 yuan on January 16, down 9.25 yuan (-1.93%) from January 15 [1] Foreign Futures Closing Prices - COMEX gold主力 contract closed at 4601.10 dollars/ounce on January 16, down 19.40 dollars (-0.42%) from January 15 [1] - COMEX silver主力 contract closed at 89.05 dollars/ounce on January 16, down 2.27 dollars (-2.46%) from January 15 [1] - NYMEX platinum主力 contract closed at 2342.90 dollars/ounce on January 16, down 72.90 dollars (-3.02%) from January 15 [1] - NYMEX palladium主力 contract closed at 1846.50 dollars/ounce on January 16, down 19 dollars (-1.02%) from January 15 [1] Spot Prices - London gold was at 4599.04 dollars/ounce, down 16.48 dollars (-0.36%) from the previous value [1] - London silver was at 90.13 dollars/ounce, down 2.26 dollars (-2.45%) from the previous value [1] - Spot platinum was at 2301 dollars/ounce, down 85 dollars (-3.56%) from the previous value [1] - Spot palladium was at 1755 dollars/ounce, down 51 dollars (-2.82%) from the previous value [1] - Shanghai Gold Exchange's gold T + D was at 1031.09 yuan/gram, down 2.83 yuan (-0.27%) from the previous value [1] - Shanghai Gold Exchange's silver T + D was at 22641 yuan/kilogram, down 43 yuan (-0.19%) from the previous value [1] - Shanghai Gold Exchange's platinum 9995 was at 602 yuan/gram, up 5 yuan (0.85%) from the previous value [1] Basis - Gold TD - Shanghai gold主力 was - 1.23, up 0.05 from the previous value, with a 1 - year historical quantile of 46.10% [1] - Silver TD - Shanghai silver主力 was 158, up 139 from the previous value, with a 1 - year historical quantile of 60.60% [1] - London gold - COMEX gold was - 2.06, up 2.92 from the previous value, with a 1 - year historical quantile of 92.90% [1] - London silver - COMEX silver was 0.19, unchanged from the previous value, with a 1 - year historical quantile of 90.00% [1] Price Ratios - COMEX gold/silver was 51.15, up 1.05 (2.09%) from the previous value [1] - SHFE gold/silver was 45.92, up 0.24 (0.53%) from the previous value [1] - NYMEX platinum/palladium was 1.27, down 0.03 (-2.02%) from the previous value [1] - SHFE platinum/palladium was 1.30, up 0.03 (2.14%) from the previous value [1] Interest Rates and Exchange Rates - 10 - year U.S. Treasury yield was 4.24%, up 0.07% (1.7%) from the previous value [1] - 2 - year U.S. Treasury yield was 3.59%, up 0.03% (0.8%) from the previous value [1] - 10 - year TIPS Treasury yield was 1.91%, up 0.03% (1.6%) from the previous value [1] - U.S. dollar index was 99.37, up 0.03 (0.03%) from the previous value [1] - Offshore RMB exchange rate was 6.9674, up 0.0043 (0.06%) from the previous value [1] Inventories and Positions - SHFE gold inventory was 100053, down 99 (-0.10%) from the previous value [1] - SHFE silver inventory was 626843, down 11556 (-1.81%) from the previous value [1] - COMEX gold inventory was 36135901, up 3000 (0.01%) from the previous value [1] - COMEX silver inventory was 429156441, down 4225669 (-0.98%) from the previous value [1] - COMEX gold registered warehouse receipts were 18823797, down 14274 (-0.08%) from the previous value [1] - COMEX silver registered warehouse receipts were 120632557, down 2571966 (-2.09%) from the previous value [1] - SPDR gold ETF position was 1086, up 10.87 (1.01%) from the previous value [1] - SLV silver ETF position was 16073, up 11.28 (0.07%) from the previous value [1]

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - Future market may focus on the impact of US economic data on Fed policy expectations and geopolitical disturbances. If the market overheats, the exchange will take further risk - control measures. If the impact of news weakens, the market will maintain a moderately strong oscillation. Gold can be lightly held long - position above $4300, or sell out - of - the - money put options to earn time value [1]. - For silver, due to the intensifying global inventory shortage and the large - scale increase of spot by institutional long - position funds through ETF and physical delivery, the price is running strongly. The price center is expected to rise continuously, but the rising raw material cost may suppress industrial demand. After the adjustment of the global commodity index is basically digested, it is recommended to hold long - positions above $75 and operate cautiously on a single side in the short - term under high - volatility risk [1]. - Platinum and palladium are strong in terms of macro and supply - demand fundamentals, and their prices are still undervalued compared with gold. The value is reshaped by capital, and they are expected to continue to oscillate upward in the medium - to - long - term. In the short - term, market speculative sentiment weakens and fluctuations narrow. Given the strong external market trend, it is recommended to buy lightly near the 20 - day moving average [1]. 3) Summary by Relevant Catalogs Domestic Futures Closing Prices - AU2602 contract: Closed at 1026.28 yuan/gram on January 12, up 1.97% from January 9 [1]. - AG2604 contract: Closed at 20945 yuan/kilogram on January 12, up 11.82% from January 9 [1]. - PT2606 contract: Closed at 622.80 yuan/gram on January 12, up 3.83% from January 9 [1]. - PD2606 contract: Closed at 499.05 yuan, up 1.21% from January 9 [1]. Foreign Futures Closing Prices - COMEX gold主力合约: Closed at 4518.40 dollars/ounce on January 12, up 2.00% from January 9 [1]. - COMEX silver主力合约: Up 6.72% from January 9 [1]. - NYMEX platinum主力合约: Closed at 2361.30 dollars/ounce on January 12, up 3.67% from January 9 [1]. - NYMEX palladium主力合约: Closed at 1911.50 dollars/ounce on January 12, up 2.00% from January 9 [1]. Spot Prices - London gold: The current price is 4509.02 dollars/ounce, up 1.99% [1]. - London silver: Up 6.54% [1]. - Spot platinum: The current price is 2374.00 dollars/ounce, up 4.03% [1]. - Spot palladium: The current price is 1851.00 dollars/ounce, up 0.98% [1]. - Shanghai Gold Exchange gold T + D: Closed at 1022.12 yuan/gram on January 12, up 1.91% from January 9 [1]. - Shanghai Gold Exchange silver T + D: Closed at 20902 yuan/kilogram on January 12, up 11.42% from January 9 [1]. - Shanghai Gold Exchange platinum 9995: Closed at 613 yuan/gram on January 12, up 3.39% from January 9 [1]. Basis - Gold TD - Shanghai gold main contract: The current value is - 4.16, with a historical 1 - year quantile of 46.10% [1]. - Silver TD - Shanghai silver main contract: The current value is - 43, with a historical 1 - year quantile of 60.60% [1]. - London gold - COMEX gold: The current value is - 10.24, with a historical 1 - year quantile of 73.80% [1]. - London silver - COMEX silver: The current value is - 0.14, with a historical 1 - year quantile of 71.20% [1]. Ratio of Different Metals - COMEX gold/silver: The current value is 54.12, down 4.43% [1]. - SHFE gold/silver: The current value is 53.73, down 8.81% [1]. - NYMEX platinum/palladium: The current value is 1.24, up 1.63% [1]. - GZFE platinum/palladium: The current value is 1.23, up 2.59% [1]. Interest Rates and Exchange Rates - 10 - year US Treasury yield: The current value is 4.19%, up 0.2% [1]. - 2 - year US Treasury yield: The current value is 3.54%, unchanged [1]. - 10 - year TIPS Treasury yield: The current value is 1.90%, unchanged [1]. - US dollar index: The current value is 98.89, down 0.24% [1]. - Offshore RMB exchange rate: The current value is 6.9687, down 0.10% [1]. Inventory and Positions - SHFE gold inventory: The current value is 97653 kilograms, unchanged [1]. - SHFE silver inventory: The current value is 649643 kilograms, up 4.74% [1]. - COMEX gold inventory: The current value is 36311918 ounces, unchanged [1]. - COMEX silver inventory: The current value is 439740503 ounces, down 0.51% [1]. - COMEX gold registered warehouse receipts: The current value is 19180167 ounces, down 0.52% [1]. - COMEX silver registered warehouse receipts: The current value is 123897999 ounces, down 1.23% [1]. - SPDR gold ETF position: The current value is 1071 tons, up 0.59% [1]. - SLV silver ETF position: The current value is 16348 tons, up 0.24% [1].

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Report's Core View - For gold, as funds quickly exit the market before the Spring Festival and the price correction is in place, the market may focus on the impact of US economic data such as non - farm payrolls on the Fed's policy and geopolitical disturbances. Gold long positions above $4300 should be held, and attention should be paid to the recovery of the gold - silver ratio [1]. - For silver, long - position funds have significantly increased holdings through ETFs and physical delivery, driving the price to run strongly. The global inventory shortage may not be truly alleviated, but high prices may suppress industrial demand. After exchanges like CME raise margins, the irrational upward movement driven by short - term capital sentiment is expected to end, leading to volatility reduction. Attention should be paid to the potential回调 risk caused by the rebalancing of the global commodity index, and in high - volatility markets, a light - position, low - buying strategy above $70 is recommended [1]. - For platinum and palladium, due to strong macro and supply - demand fundamentals and relatively undervalued prices compared to gold, funds are driving value re - evaluation. They are expected to continue to rise in the medium - to - long - term. In the short - term, as market speculative sentiment weakens and volatility narrows, and with a strong external market, platinum and palladium can be bought lightly at around the 20 - day moving average. Palladium is relatively stronger, and shorting the platinum - palladium ratio can be attempted [1]. Group 3: Summary by Relevant Catalogs Domestic Futures Closing Prices - AU2602 contract closed at 997.94 yuan/g on January 8, down 0.96 yuan or 0.10% from January 7 [1]. - AG2604 contract closed at 18,450 yuan/kg on January 8, down 840 yuan or 4.35% from January 7 [1]. - PT2606 contract closed at 575.00 yuan/g on January 8, down 23.50 yuan or 3.93% from January 7 [1]. - PD2606 contract closed at 460.70 yuan/g on January 8, down 15.25 yuan or 3.20% from January 7 [1]. Foreign Futures Closing Prices - COMEX gold主力 contract closed at $4487.90 on January 8, up $20.80 or 0.47% from January 7 [1]. - COMEX silver主力 contract closed at $76.69 on January 8, down $1.29 or - 1.65% from January 7 [1]. - NYMEX platinum主力 contract closed at $2282.60 on January 8, down $7.80 or - 0.34% from January 7 [1]. - NYMEX palladium主力 contract closed at $1833.50 on January 8, up $16.50 or 0.91% from January 7 [1]. Spot Prices - London gold was at $4477.56 on January 8, up $21.49 or 0.48% from January 7 [1]. - London silver was at $76.97 on January 8, down $1.30 or - 1.66% from January 7 [1]. - Platinum spot was at $2267.45 on January 8, down $30.55 or - 1.33% from January 7 [1]. - Palladium spot was at $1780.26 on January 8, up $24.53 or 1.40% from January 7 [1]. - Shanghai Gold Exchange's gold T + D was at 995.86 yuan/g on January 8, down 3.34 yuan or - 0.33% from January 7 [1]. - Shanghai Gold Exchange's silver T + D was at 18,338 yuan/10g on January 8, down 1027 yuan or - 5.30% from January 7 [1]. - Shanghai Gold Exchange's gold 9995 was at 580 yuan/g on January 8, down 26 yuan or - 4.26% from January 7 [1]. Basis - The basis of gold TD - Shanghai gold主力 was - 2.08, down 2.38 from the previous value, with a 1 - year historical quantile of 69.00% [1]. - The basis of silver TD - Shanghai silver主力 was - 112, down 187 from the previous value, with a 1 - year historical quantile of 0.00% [1]. - The basis of London gold - COMEX gold was - 10.34, up 0.69 from the previous value, with a 1 - year historical quantile of 73.40% [1]. - The basis of London silver - COMEX silver was 0.28, down 0.01 from the previous value, with a 1 - year historical quantile of 90.70% [1]. Price Ratios - The COMEX gold/silver ratio was 58.52, up 1.23 or 2.16% from the previous value [1]. - The SHFE gold/silver ratio was 54.09, up 2.31 or 4.45% from the previous value [1]. - The NYMEX platinum/palladium ratio was 1.24, down 0.02 or - 1.24% from the previous value [1]. - The GZFE platinum/palladium ratio was 1.25, down 0.01 or - 0.75% from the previous value [1]. Interest Rates and Exchange Rates - The 10 - year US Treasury yield was 4.19%, up 0.04 percentage points or 1.0% from the previous value [1]. - The 2 - year US Treasury yield was 3.49%, up 0.02 percentage points or 0.6% from the previous value [1]. - The 10 - year TIPS Treasury yield was 1.92%, up 0.04 percentage points or 2.1% from the previous value [1]. - The US dollar index was 98.86, up 0.12 or 0.12% from the previous value [1]. - The on - shore RMB exchange rate was 6.9823, down 0.0112 or - 0.16% from the previous value [1]. Inventory and Positions - The SHFE gold inventory was 97,653, unchanged from the previous value [1]. - The SHFE silver inventory was 637,647 kg on January 8, up 84,218 kg or 15.22% from the previous value [1]. - The COMEX gold inventory was 36,387,376, down 16,076 or - 0.04% from the previous value [1]. - The COMEX silver inventory was 442,479,414, down 3,257,982 or - 0.73% from the previous value [1]. - The COMEX gold registered warehouse receipts were 19,345,676, up 16,280 or 0.08% from the previous value [1]. - The COMEX silver registered warehouse receipts were 127,180,871, down 5,093 or 0.00% from the previous value [1]. - The SPDR gold ETF position was 1,067, unchanged from the previous value [1]. - The SLV silver ETF position was 16,215, up 115.60 or 0.72% from the previous value [1].

Core Viewpoint - NYMEX palladium futures have seen a significant decline, with a drop of 3%, currently priced at $1829.5 per ounce [1] Group 1 - The main contract for palladium on NYMEX has experienced a notable decrease in value [1] - The current trading price of palladium is reported at $1829.5 per ounce [1]

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].