? ???????

?????????????????,???“??????”?????????????????????????!

2??????????????????????11????????,???????????,???????????????????2942.18???????????????????/????????????,???3000??/?,??????????,??2900?/??

?????????2?????????????11???,?????????999??????????886??/???????,??????????????891/?????????

?,???????????(?“??????????????”)????????????,??????????????

??

2024?,??26.6%,???????2025?,??????????????????????1??????????????,???????

????,2?????????????????11?????,??????2940????,????2942.71??/??????????????????????,???2900??????????/???????????COMEX????????2968.5?????????????/????????,?????????

???????????2???????11????????,?999???????886????????/????,?????891/?????????

?????????????????????12??3000??/????,???,??????????????????????????????,?????????????????????????

????????????,??????????,?,??????,??;?????????????????????????,??????????,????????????

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

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

???????????????????,2??????????????????11?????,????????????,???????????,???????????????

????????????????????,?,???????????????2025???????2?12?(???????????????)??,Au(T+D)?mAu(T+D)?Au(T+N1)?Au(T+N2)?NYAuTN06?NYAuTN12??????10%????11%,?9%????10%;CAu99.99???????????????????????????????????????????????65000???????????????70000???

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

2??10????????????,????????????????????,????,??????????????????????,??????????????????????,???????????,???????????,????????,???

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

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

????????????????????????????,??????????????????????App??????,?5g?10g?20g?50g?100g?200g????????

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

???????,?«???»?????,?????,????2025????????2????????10?????????????,??:????????????????,??????????????650?????????700???,???200??,????????????;??????????,?????????1??????????,????1??????????

???????«?????????????»,????2025????????????2?12???????,??????????0.01%??0.1%??????????0.1%?????0.2%?????????????????????????????????????????0.3%?

???“?????????????”

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

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

??????,??????????????????????????,?????????3000????,??????????????2900??????,??????????,?????????????????????????????????????????,?2850??????????????????????????????????,?????????????2800???,????????,??????????2025??????????????????????3000??????/??????????,?????,??

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

????????????,2025???????????,???????????????????,?????2025???????????????????????????????2025??,?????????????????????????????,????,?????

??,??,??????????????????????3000????????/??,??????,?????????????????????????????,???????,????,???????,??COMEX???????,??,??????? ?????:?????

??

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