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

2?????90?????2023

3?????????????

4???????200??

5????????

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

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

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