Core Insights - The Shanghai Gold Exchange reported a significant increase in transaction volume and value for various contracts in January 2026, with a total transaction amount of 67,383.87 billion yuan, marking a year-on-year increase of 106.9% [1] - The trading volume of gold reached 5,970,146.98 kilograms, up 18.6% year-on-year, with a transaction value of 63,884.47 billion yuan, reflecting a 100.8% increase [1] - The international gold price experienced volatility, closing at 4,894.23 USD/ounce, an increase of 587.53 USD from the previous month [2] Trading Performance - The Shanghai Gold Exchange's Au99.99 contract opened at 990.00 yuan/gram and closed at 1,151.30 yuan/gram, showing a monthly increase of 189.05 yuan/gram, or 19.4% [3] - The platinum contract (Pt99.95) saw a closing price of 638.39 yuan/gram, up 126.89 yuan/gram, or 24.8% from the previous month [3] - The silver contract (Ag) closed at 27,530 yuan/kilogram, reflecting a monthly increase of 9,748 yuan/kilogram, or 54.8% [3] Delivery and Physical Outflows - The total gold delivery volume was 887,436.38 kilograms, with a physical outflow of 125,781.4 kilograms [4] - The silver delivery volume reached 673,470 kilograms, with a physical outflow of 321,660 kilograms [4]

本月国际金价振荡盘升，现货黄金（XAU）收于4,239.43美元/盎司，较上月上涨236.51美元，低点和高点分别为3,928.98美元和 4,245.23美元。国际现货白银（XAG）收于56.50美元/盎司，较上月上涨7.81美元，低点和高点分别为46.68美元和56.53美元。现 货铂金（XPT）收于1,670.77美元/盎司，较上月上涨96.54美元，低点和高点分别为1,494.74美元和1,679.80美元。 作者：上海黄金交易所 国内市场，上金所黄金Au99.99合约月初开盘价924.00元/克，最高价968.00元/克，最低价903.00元/克，月末收于948.15元/克，较 上月上涨26.65元/克，月度涨幅2.89%，本月加权均价为932.22元，较上月低11.61元。本月黄金竞价主力合约Au（T+D）共成交 1,103,132千克，占黄金交易量的23.8%，月末持仓229,098手，较上月减少18,602手。Au（T+D）的实物交收量为200,854千克， 其中，中立仓交收量为32,308千克；本月20个交易日的延期费支付情况为：12个交易日多付空，8个交易日空付多。Pt99.95合约 月初 ...

Group 1: Market Performance - In July 2025, the total transaction amount of various contracts at the Shanghai Gold Exchange reached 42,157.38 billion yuan, a year-on-year increase of 24.9%, with inquiry trading accounting for 75.6% of the total [1] - The trading amounts for member proprietary and agency businesses were 39,642.78 billion yuan and 2,514.60 billion yuan, respectively [1] - The gold trading volume was 5,306,946.02 kilograms, a year-on-year decrease of 2.0%, with a transaction amount of 40,984.05 billion yuan, down 2.7% year-on-year [1] Group 2: Precious Metals Prices - International gold prices remained high, with spot gold (XAU) closing at $3,296.33 per ounce, an increase of $12.76 from the previous month [2] - Spot silver (XAG) closed at $36.31 per ounce, up $0.28 from the previous month [2] - Spot platinum (XPT) closed at $1,299.63 per ounce, down $67.16 from the previous month [2] Group 3: Domestic Market Trends - The Shanghai Gold Exchange's Au99.99 contract opened at 761.5 yuan per gram and closed at 767.36 yuan per gram, a monthly increase of 2.93 yuan per gram [3] - The trading volume of the main Au (T+D) contract was 814,794 kilograms, accounting for 15.4% of the total gold trading volume [3] - The silver Ag (T+D) contract closed at 8,960 yuan per kilogram, an increase of 263 yuan per kilogram from the previous month [3] Group 4: Delivery and Outflow - The total gold delivery volume was 681,449.02 kilograms, with a physical outflow of 93,496.8 kilograms [4] - The total silver delivery volume was 1,562,670 kilograms, with a physical outflow of 107,565 kilograms [4]

作者：上海黄金交易所 国内市场，上金所黄金Au99.99合约月初开盘价730.80元/克，最高价834.60元/克，最低价703.31元/克，月末收于780.19元/克，较 上月末上涨51.59元/克，月度涨幅7.64%，本月加权均价为769.51元，较上月高2.36元。本月黄金竞价主力合约Au（T+D）共成交 1,401,200千克，占黄金交易量的20.6%，月末持仓208,794手，较上月增加23,120手。Au（T+D）的实物交收量为335,064千克， 其中，中立仓交收量为53,916千克；本月21个交易日的延期费支付情况为：13个交易日多付空，8个交易日空付多。Pt99.95合约 月初开盘价240.38元/克，最高价242.51元/克，最低价221.25元/克，月末收盘价237.00元/克，较上月末下跌0.66元/克，月度跌幅 0.28%，本月加权均价为233.37元，较上月低2.75元。白银Ag（T+D）合约月初开盘价8,470元/千克，最高价8,470元/千克，最低 价7,346元/千克，月末收盘价8,163元/千克，较上月末下跌293元/千克，月度跌幅3.46%，本月加权均价为8,059元，较 ...

Core Insights - The Shanghai Gold Exchange reported a total transaction amount of 42,895.44 billion yuan in March 2025, marking an 18.9% year-on-year increase, with inquiry trading accounting for 76.6% of the total [1] - The international gold price continued to rise, with spot gold closing at $3,118.55 per ounce, an increase of $260.72 from the previous month [2] - Domestic gold contract prices also saw significant increases, with the Au99.99 contract closing at 730.8 yuan per gram, up 60.02 yuan from the previous month, reflecting a monthly increase of 8.95% [3] Transaction Data - The total trading volume for gold was 6,055,194.98 kilograms, a decrease of 13.0% year-on-year, while the transaction amount reached 41,828.28 billion yuan, up 19.3% year-on-year [1] - Platinum trading volume increased significantly to 11,552 kilograms, a 227.4% year-on-year rise, with a transaction amount of 2.71 billion yuan, up 258.5% year-on-year [1] - Silver trading volume decreased by 20.7% year-on-year to 12,685,690 kilograms, but the transaction amount increased by 4.0% to 1,040.06 billion yuan [1] Price Movements - The average price of gold in the domestic market was 697.15 yuan per gram, up 17.09 yuan from the previous month [3] - The platinum contract (Pt99.95) closed at 237.66 yuan per gram, an increase of 6.78 yuan, with a monthly increase of 2.94% [3] - The silver contract (Ag (T+D)) closed at 8,485 yuan per kilogram, up 614 yuan, reflecting a monthly increase of 7.8% [3] Delivery and Outflow - The total gold delivery volume was 673,981.96 kilograms, with a physical outflow of 120,156.9 kilograms [4] - The total silver delivery volume was 3,203,160 kilograms, with a physical outflow of 114,810 kilograms [4]