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

??

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

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

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

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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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