黄金白银日报：美元美债收益率止跌回升，金银反弹后继续盘整

东吴期货研究所 021-63123063 www.dwfutures.com 323 美元美债收益率止跌回升，金银反弹后继续盘整 类别品种开盘最高最低收盘单日涨跌%5日涨跌%伦敦金1899.251912.761890.781894.25-0.130.69伦敦银28.0028.2327.6127.64-0.160.27纽约金1900.001913.301890.701894.60-0.35-0.18纽约银27.7527.8227.7327.73-0.530.94上期金389.86394.88388.96390.32-0.49-0.13上期银5763.005913.005735.005757.00-1.52-1.25上金T+D388.85394.40388.58390.50-0.570.26上银T+D 5655.005792.005624.005643.00-1.47-1.12CRB商品202.44203.57201.48203.440.491.28LME 铜9950.0010015.009901.009979.000.620.99WTI66.0466.4365.2566.07-0.213.92布伦特68.5569.1768.0268.75-0.173.48美元89.7090.1289.5990.100.070.10欧美1.231.231.221.22-0.050.03澳美0.780.780.770.77-0.140.00人民币6.416.416.396.390.31-0.67美10年期TIPS(0.89)(0.85)(0.90)(0.85)0.51-2.23美10年期国债期货价格132.98133.06132.83132.88-0.020.33美5Y5Y通胀平衡预期2.252.272.232.240.00-0.75 黄金ETF VIX 17.0917.1616.6816.81-1.642.06白银ETF VIX35.9936.3334.5434.63-4.52-1.81黄金5月26日5月27日白银5月26日5月27日上金T+D-AU2106-0.930.46上银T+D-AG2106-119-9AU2112-AU21063.163.16AG2112-AG2106110110伦敦金/伦敦银68.4867.56上金/上银68.5868.57纽约金/纽约银67.5267.16期金/期银68.3968.39百万美元百万美元日期持有量（吨）持仓量增减持有价值持有量（吨）持仓量增减持有价值2021-5-261044.08-2.0463754.0717936.56016210.562021-5-251046.12063450.4617936.56015884.95公斤/公吨上期金上期银可用库容（白银可用库容变化纽约金纽约银2021-5-26352824090471860112207371075.3111003.592021-5-25352824211561846216113521075.3811003.92库存信息交易策略由于美债收益率反弹，打击了黄金这种非生息资产的需求，金价从四个多月高位回落，10年期美国国债的收益率上涨了两个基点,美元也走高，降低了包括黄金在内的大宗商品对非美元投资者的吸引力。国际金价回落至1900关口下方，白银28美元关口得而复失。国内，谨慎投资者多单部分减持持有，稳健投资者采取高抛低吸交易。宏观面周三现货黄金先涨后跌，日内曾两度站上1910美元关口、续刷1月8日以来新高，但日内美元走高限制了涨幅，美盘前金价上演冲高回落并转跌，盘中失守1900大关，最终收跌0.11%，报1896.44美元/盎司；现货白银也一度升破28关口，但最终回吐所有涨幅，收跌1.11%，报27.64美元/盎司。由于美债收益率反弹、投资者在月底前重新平衡投资组合，美元指数涨0.43%至90.06，创近一周以来最大涨幅。随着美元和美债收益率回升，现货黄金小幅下跌，收于1900美元关口下方，盘中稍早一度触及1月8日以来最高的1912.76美元。基金持仓SPDR黄金ETFiShares白银ETF截止上周五，SPDR黄金ETF持仓量较前日减持2.04吨至1044.08吨；Ishares白银ETF持仓量较前日持平至17936.56吨，显示机构投资者观望金银。贵金属市场信息表贵金属相关品种品种相关性价差比价 快手必读---黄金白银日报 东吴期货研究所 宏观与金融工程组 万 涛 021-63123175 从业证书：F0288751 投资咨询证书：Z0012259 期市有风险，投资需谨慎！ 研究所办公地址： 上海市-黄浦区西藏南路1208号6楼 苏州市-工业园区星阳街5 号东吴证券大楼8楼 2021年5月27日星期四 东吴期货研究所 www.dwfutures.com 第 2 页 1【市场信息参考】 每日交易行情表 2021-5-27合约收盘价 元涨跌 元涨跌幅 %持仓量 手持仓量变化 手成交额 万元成交量 手AU2106.SHF393.403.740.9622,919-6,0724,364,717111,268AU2107.SHF394.403.660.9489183,46588AU2108.SHF394.544.061.0458,0113,5121,963,09449,906AU2110.SHF395.424.161.0638,4001,189792,60620,111AU2112.SHF396.424.341.11129,77610,7743,874,08797,972AU2202.SHF398.465.741.4684339610AU2204.SHF397.684.101.04101251,67642AU2206.SHF398.705.161.31134513,54489全部合约249,5149,50011,003,586279,486合约收盘价 元涨跌 元涨跌幅 %持仓量 手持仓量变化 手成交额 万元成交量 手AG2106.SHF5,754.0069.001.21128,453-14,5504,653,764540,825AG2107.SHF5,775.0077.001.3522,829-9,536370,01742,946AG2108.SHF5,790.0073.001.2828,794-7,868795,51091,883AG2109.SHF5,816.0081.001.4128,309-2,299337,02738,806AG2110.SHF5,824.0074.001.2917,1795,161217,07024,895AG2111.SHF5,843.0076.001.329,2723,814101,22611,589AG2112.SHF5,861.0074.001.28348,37743,4374,895,758558,217AG2201.SHF5,891.0088.001.52198-1973984AG2202.SHF5,893.0071.001.22227330134AG2203.SHF5,916.0048.000.82156-224828AG2204.SHF5,954.00112.001.92110-416819AG2205.SHF5,918.0057.000.9749-116919全部合约583,95318,13611,371,9971,309,345 020,00040,00060,00080,000100,000120,000140,000AU2103.SHFAU2104.SHFAU2105.SHFAU2106.SHFAU2108.SHFAU2110.SHFAU2112.SHFAU2202.SHF上期金持仓量与成交量持仓量手成交量...0100,000200,000300,000400,000500,000600,000700,000800,000900,000上期银持仓量与成交量持仓量手成交量... -812 -13 -2,155 2,058 1,029 880 3 -20,000020,00040,00060,00080,000100,000120,000140,000AU2103.SHFAU2104.SHFAU2105.SHFAU2106.SHFAU2108.SHFAU2110.SHFAU2112.SHFAU2202.SHF上期金持仓量与持仓量变化持仓量变化...持仓量手-202 304 -635 -1,903 -134 59 109 -5 1 -429 -1 -9 -50,000050,000100,000150,000200,000250,000300,000350,000400,000450,000500,000上期银持仓量与持仓量变化持仓量变化...持仓量手 东吴期货研究所 www.dwfutures.com 第 3 页 金银基金持仓和CFTC非商业持仓量主要数据跟踪 -8-6-4-202468109901000101010201030104010501060黄金持仓量增减（吨）黄金ETF持有量-150-100-5005010015020016000165001700017500180001850019000持仓量增减（吨）白银i s hares持仓量 (3.50)(3.00)(2.50)(2.00)(1.50)(1.00)(0.50)0.00350355360365370375380385390395400上期金远近合约价差及走势2112-2106沪金2112沪金21060.0020.0040.0060.0080.00100.00120.00140.004000450050005500600065002020-09-092020-09-112020-09-132020-09-152020-09-172020-09-192020-09-212020-09-232020-09-252020-09-272020-09-292020-10-012020-10-032020-10-052020-10-072020-10-092020-10-112020-10-132020-10-152020-10-172020-10-192020-10-212020-10-232020-10-252020-10-27上期银远近合约价差及走势2106-2012沪银2012沪银2106 (12.00)(10.00)(8.00)(6.00)(4.00)(2.00)0.00350370390410430450470上金期现基差及走势现-近期沪金2012SGE黄金T+D(120.00)(100.00)(80.00)(60.00)(40.00)(20.00)0.0020.0040.00330038004300480053005800630068007300上银期现基差及走势现-近期沪银2012SGE白银T+D 0500100015002000250030003500400045002020-05-22202