20230322_国盛证券_贵金属行业：紧缩转宽松预期依旧重视黄金“二次买入”机会_20页.pdf
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3.6%01020304050602022/03 2022/06 2022/09 2022/12 2023/03 2023/06 2023/09 2023/12:12:12-2.00-1.50-1.00-0.500.000.501.001.502.002.5010001200140016001800200022002022/03 2022/04 2022/05 2022/06 2022/07 2022/08 2022/09 2022/10 2022/11 2022/12 2023/01 2023/02 iFinD():COMEX/iFinD:5%iFinD:7%iFinD:10%iFinD:20%iFinD:30%2023 03 22 P.8 12 2 31.1 Wind 2 2 2 2 56.5%2 24.5 38.3%13 2023 2 31.1 iFinD 51.731.101234567010203040506070809010021/06 21/09 21/12 22/03 22/06 22/09 22/12美 国新增 非农就 业人数（万人）失 业率（%，右轴）05010015020025030035040045050022/03 22/04 22/05 22/06 22/07 22/08 22/09 22/10 22/11 22/12 23/01 23/02 iFinD:iFinD:2023 03 22 P.9 14 Wind 2023 2-15 iFinD-100-500501001502002022/01 2022/03 2022/05 2022/07 2022/09 2022/11 2023/01:-2-10123420/01 20/04 20/07 20/10 21/01 21/04 21/07 21/10 22/01 22/04 22/07 22/10 23/01 iFinD:1982-1984:%iFinD:1982-1984:%iFinD:1982-1984:%2023 03 22 P.10 16 iFinD-3-2-10123456720/01 20/04 20/07 20/10 21/01 21/04 21/07 21/10 22/01 22/04 22/07 22/10 23/01 iFinD:%iFinD:%iFinD:%iFinD:%iFinD:%2023 03 22 P.11 3.1 2023 3 400 20 17 08 270002800029000300003100032000330003400035000360003700000/03 02/01 03/11 05/09 07/07 09/05 11/03 13/01 14/11 16/09 18/07 20/05 22/03 iFinD:2023 03 22 P.12 18 08 3.2 2020 2022 Q3 400 2000 8 19 2020 12 32 2019 11 2002 2019 1,348 750000800000850000900000950000100000010500002021-01 2021-03 2021-05 2021-07 2021-09 2021-11 2022-01 2022-03 2022-05 iFinD:iFinD:-20002004006008002010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Q1 Q2 Q3 Q4 2023 03 22 P.13 20 2022 11 32 ETF 2022 12 ETF 2022 12 ETF 9 2022 4 ETF ETF 21 2022 12 ETF-105-55-545951451952452022/01 2022/02 2022/03 2022/04 2022/05 2022/06 2022/07 2022/08 2022/09 2022/10 2022/11 2022/12 2023 03 22 P.14 4.1 1 Sepon Wassa 400 Sepon 2 3000/2021 12/2023 30/3 4 2022 1 Sepon Wassa 10 2022-2024 72.3%37.1%22.7%2 2022-2024 8.2 1 2022-2024 34.07%43.06%47.56%2 2022-2024 48.78%2023 03 22 P.15 22 2021A 2022E 2023E 2024E 2025E 29.7 56.9 81.0 101.3 102.5 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0.2 0.9 2.2 2.2 0.4%1.6%3.9%3.9%0.4%0.2%0.3%0.3%3.71%3.32%3.52%3.42%0.45%0.60%0.52%0.56%0.0%0.0%0.0%0.0%6.64%6.20%6.42%6.31%Wind 2023 03 22 P.18 2023 03 22 P.19“”,“”“”6 A 300 500 15%5%15%-5%+5%5%10%-10%+10%10%26 3 100032 010-57671718 868 One56 1 10 200120 021-38124100 1115 330038 0791-86281485 100 24 518033 前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告
