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

2?????????

3???sn??

4??????????

5???94?95???

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

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

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