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

2??????????

3??????????

4?????

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????,??,??

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

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