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

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

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

??

??:???????????,??????????,??????????????