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

????:????98?:????????????

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