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

2???????????

3????????

4??????400

5????????????

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

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

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