????:1???????:??????

2??????????

3??????????

4?????????

5???????

?????????????????????????,?????COMEX??????2800???/?????????????????,???????2830.39????????????????????????/???2872??/?????2?????????????4??,?????????????,????2820????????????/?????

??,????????,?????840??????????/?????????????,????????????????,??,??

???????????????????????,????????????????????????????????,????????,??????????????????????????3000????????/?????????????????,????????,??????ETF???????

??

2?4?????????,????,?2820??????????/??,??,???????????????????,???0.08%????????2816.63??/?????????,??????2????????????,????????????????????????????,????2830.39???????/??????????????????,?2814.38?/??????????

??,COMEX??????????????,???????????2872??????????/????,????????????2843.25??????????/???

??,??????????2????1???????????,?????,?????????????????????25%??,?4????????????????????????,?2???3??????????,??????,??3?????4???????????????

???????????????(?)????????????,???????????????????????????25%????????,?????????,?;??,??????????,?????????????

??,???2024??,???????????????????,??COMEX??36%?37%?

?????????1????????????28??????,??COMEX???2.74%?3.7%????,????????,?????????,??,????????????

??

????????????????,?,??,????????????????????????????????????????????????????????????840???/???2???????????4??????????????????????,????????????????????????,??????????????????????855?????????????/??????????????853?????????????????/????

???????????,??,?????????????????,??????,?????????“?”????????????,??????7??????????????,?????600??????,????,???,????????????

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

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

????,???????????????????,?????????????????,3??????31??,????????,?????????10??,??????100??

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

??????

2024?????????,???????????????,???????,????????????????,????????COMEX????????????27%?

2025??????,???????????,??????????,???,??;????,?????????????,??????????;?????????????????????????????,??????????????,?????????????

“?????????2025??,??????????????????,????3000?,???????????????????????????????”???,???,????????,???,???????????????????ETF???,??,?????????????

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

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