???????!?“?????”?

????:????80????:?????????????

?/?????

???????????

8???????????????1??????,??????????(COMEX)????????????????2500???/???????,??????2502.8????????/???????,????

???????????????????

?,??????????????????????,????????????????

??????????????,??

??????????????????7??31???,??????????????????????????????5.25%???????????????5.5%??????2023????????9????????

??????,?????,??????????“????”??“???????”??,???????,?“??????”,??????????????????????????“??”,????????????9??

???????,????????

??????(CME)“??”,??????????????????9?????25??????????90.5%,?50??????9.5%?

?????????????????

7??????????31?????,?????????(?)??????????????????????????

????,??,???

???????

????«??????»?,???????????????(?????)???????????4%,??????????1258???,??????;???????????,?????????????????????53%,?329????

??????????,???????,????????,?????,????????????12???????????????????????????????

????

???,??????????????“???????????????”?

??,?????

????,2024???????2009???????????????????,????86???,?????35%,?53%;???18%,??????????270????????????

??????????,????????????????????0.2%,?????????6??????????????3.7%?

???,??

?,?????????????????ETF??140??????,???????????????????,??????????????????;??????????????,??????????????????ETF???????????????,???50%?????????????77%?

?????????,??,?????,???????????,???

??????,?,???,?????????????2350-2485???/???????????

??,??????????????????,??????????????????,??????,?????,?2025?????????????????????2700-3000?/?????

?????????????????????????????? ???????:????