深圳商报·读创客户端首席记者 谢惠茜 在10月以来接连刷新4000、4100、4200、4300美元/盎司的历史记录之后，国际金价终于迎来高位"跳 水"。北京时间10月17日晚间，COMEX黄金盘中突然跳水，一度跌破4200美元/盎司。10月20日，国际 金价所反弹，但截至记者发稿时，COMEX黄金报4269.8美元/盎司。 10月17日当晚，COMEX白银期货盘中跌超5%，现货白银一度跌超6%，创六个月最大跌幅。在金价与 白银价格双双"跳水"后，10月20日，A股的黄金板块及个股"应声大跌"。Wind统计数据显示，贵金属板 块当天整体跌幅7.09%。截至收盘，湖南白银跌停，西部黄金跌幅9.8%；晓程科技跌幅8.86%；招金黄 金跌幅7.03%；赤峰黄金跌幅6.84%；恒邦股份、山东黄金、湖南黄金、四川黄金等个股跌幅均超过 6%。 "国际金价高位跳水是多种因素交织作用下的正常市场调整。此前金价连续上涨已累积相当涨幅，技术 面存在回调压力；同时市场对地缘冲突的避险情绪有所缓和，削弱了黄金的短期吸引力。这种回调可视 为市场对过度乐观情绪的修正，表明在利率政策未根本转向前，金价上行并非一蹴而就，高位震荡与阶 段性回 ...

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com | 上证指数 深证成指 | | 北证50 | | --- | --- | --- | | 3863.89 12813.21 | | 1429.28 | | +24.14 +0.63% +124.27 +0.98% -3.59 -0.25% | | | | 科创50 创业板指 | | 万得全A | | 1367.90 2993.45 | | 6156.44 | | +4.73 +0.35% +58.09 +1.98% +48.03 +0.79% | | | | 沪深300 中证500 | | 中证A500 | | 4538.22 7069.64 5427.08 | | | | +23.99 +0.53% +53.58 +0.76% +34.11 +0.63% | | | | 中证1000 中证2000 | | 中证红利 | | 7239.18 3005.75 ...

10月20日 ，三大指数集体走高，科技板块强势回归，上金所SGE黄金9999早晨大幅回调，黄金相关产 品纷纷重挫，截至13:40，黄金股ETF(159562)下跌3.92%，持仓股跌多涨少，白银有色、湖南白银双双 跌停，西部黄金跌超9%，晓程科技、菜百股份等股纷纷走低，黄金ETF华夏(518850)跌2.55%，有色金 属ETF基金(516650)跌1.69%。 统计显示，黄金股ETF（159562）近8天获得连续资金净流入，合计"吸金"6.71亿元。截至10月17日，黄 金股ETF最新份额13.98亿份，最新规模31.58亿元，均创成立以来新高。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 国联期货分析认为，当前政策不确定性、欧美主要经济体财政可持续性、宽松货币政策预期、区域冲 突、美联储独立性担忧等因素仍将继续支撑黄金维持强势格局。短期内，美国政府停摆、中美的贸易摩 擦升温助推黄金价格上行，宏观上的扰动会一直持续到月底。美联储10月降息概率较大对黄金形成支 撑。 随着贵金属价格上行，矿企盈利预期将大幅修正，三季度A股中的黄金股业绩预计大幅增长。高盛、华 泰证券等机构认为，中长期 ...

Market Overview - On October 20, the A-share market showed a strong rebound, with the ChiNext Index rising over 3% at one point. The Shanghai Composite Index closed at 3866.09 points, up 0.69%, while the Shenzhen Component Index rose 1.38% and the ChiNext Index increased by 2.49% [1][2]. Trading Volume and Stock Performance - The total trading volume exceeded 1.1 trillion yuan, slightly down from the previous trading day. A total of 4237 stocks rose, with 75 hitting the daily limit, while 1056 stocks declined [2]. Sector Performance - Most sectors were in the green, with the top-performing sectors including optical modules (CPO), lithium battery electrolyte, optical communication, and optical chip concepts, which saw gains of 5.70%, 4.71%, 4.05%, and 3.99% respectively. Conversely, the precious metals sector led the decline, with rare earths and banking sectors also experiencing pullbacks [2][3]. CPO Sector Highlights - The optical module (CPO) sector experienced a strong rebound, with related indices rising over 7%. Notable stocks included: - Zhongji Xuchuang, up 8.31%, with a market cap of 449.6 billion yuan [5]. - New Yisheng, up 4.86%, with a market cap of 329.7 billion yuan [6]. - Tianfu Communication, up 8.94%, with a market cap of 124.2 billion yuan [7]. - Source Jie Technology surged 14.84%, with a market cap of 35.7 billion yuan [10]. Semiconductor Sector Developments - The semiconductor chip sector also showed strength, with companies like Silan Microelectronics hitting the daily limit, reporting a market cap of 54.8 billion yuan. The company announced plans to invest 20 billion yuan in a new 12-inch high-end analog chip manufacturing line [11][13]. Financial Sector Performance - The financial sector exhibited mixed results, with Agricultural Bank of China reaching a new high, up over 1% and achieving a market cap of 2.61 trillion yuan. Insurance stocks saw a comprehensive rise, with China Life Insurance increasing nearly 4% [15][21]. Precious Metals Sector Decline - The precious metals sector faced significant declines, with stocks like Hunan Silver hitting the daily limit down, and West Gold dropping over 8%. The international gold price remained volatile, reported at 4265.61 USD per ounce, up 0.35% [24][25][27].

| 板块名称 | 涨幅量 | 长汉 | 张停数 | | --- | --- | --- | --- | | 贵金属 | -6.09% | -0.01% | 0 | | 黄金概念 | -1.72% | +0.11% | D | | 金属铅 | -1.64% | +0.01% | 0 | | 金属锌 | -1.60% | +0.00% | 0 | | 厨卫电器 | -1.16% | -0.04% | 11 | | 金属铜 | -0.49% | -0.02% | 11 | | 银行 | -0.40% | -0.08% | 0 | | 第马概念 | -0.28% | +0.03% | 0 | | 兵装重组概念 | -0.24% | -0.02% | 0 | | 养鸡 | -0.21% | +0.05% | 0 | | 草甘麟 | -0.15% | -0.00% | 0 | | 转基因 | -0.14% | +0.07% | 0 | 2025.10.20 本文字数：1383，阅读时长大约2分钟 11:31 A股午盘丨科技股全线反弹 沪指涨0.69%，深成指涨1.38%，创业板指涨2.49%。 盘面上，科技股全线反弹，C ...

10月20日，黄金概念股多数下跌，西部黄金跌近9%， 招金黄金跌超8%，萃华珠宝、曼卡龙、莱绅 通灵等跌幅居前 。 | < コ | | 黄金珠宝指数(884107) | | | | --- | --- | --- | --- | --- | | | | 2476.27 -114.22 -4.41% | | | | 资料 | 成分 | 资讯 | 相关基金 | 月度收益 | | 名称 | | 现价 | 涨跌幅 ◆ | 1 | | 西部黄金 | | 30.31 | -8.87% | -1.24% | | 601069.SH | | | | | | 招金黄金 | | 13.46 | -8.12% | -1.32% | | 000506.SZ | | | | | | 叁华珠宝 | | 13.24 | -7.99% | 0.00% | | 002731.SZ | | | | | | 曼卡龙 | | 19.35 | -7.81% | -0.31% | | 300945.SZ | | | | | | 菜绅通灵 | | 9.85 | -7.34% | -0.51% | | 603900.SH | | | | | | 恒邦股份 ...

(责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 格隆汇10月20日｜A股开盘，三大指数集体高开，沪指高开0.67%，深证成指高开1.49%，创业板指高开 2.45%。盘面上，保险股高开，中国人寿(601628)涨近6%，中国太保(601601)、新华保险(601336)涨超 2%，上市险企前三季度业绩持续向好；半导体股集体上涨，中科蓝汛涨近12%，士兰微(600460)涨停， 士兰微拟200亿元投建12英寸高端模拟集成电路芯片制造生产线项目；CPO等算力硬件股高开，中际旭 创(300308)涨超9%，新易盛(300502)、天孚通信涨超5%；风电设备概念反弹，飞沃科技、广大特材涨超 5%；现货黄金跌破4220美元/盎司，黄金股大幅回调，湖南白银跌停，莱绅通灵(603900)、西部黄金 (601069)、白银有色(601212)跌超8%。(格隆汇) ...

Investment Rating - The report maintains a "Buy" rating for the industry, highlighting several key companies as investment opportunities [4]. Core Views - The report emphasizes that tariff uncertainties continue to disrupt the market, leading to increased demand for safe-haven assets like gold and silver, which have reached new highs [1][2]. - Industrial metal prices are expected to remain strong due to supply disruptions and optimistic macroeconomic forecasts, despite short-term volatility caused by tariffs [2][3]. - Energy metals, particularly lithium and cobalt, are projected to perform well due to strong demand from the electric vehicle and energy storage sectors [3]. - Precious metals are benefiting from strong central bank purchases and high expectations for interest rate cuts, which are expected to support gold prices in the medium to long term [3]. Summary by Sections Industrial Metals - Tariff-induced short-term volatility is affecting copper prices, but supply disruptions are expected to support prices [2]. - Aluminum demand remains resilient, with a decrease in social inventory indicating a potential price stabilization [2][19]. - The report highlights key companies in the industrial metals sector, including Luoyang Molybdenum, Zijin Mining, and China Aluminum [2]. Energy Metals - Cobalt prices are rising due to new export quota regulations from the Democratic Republic of Congo, while lithium demand remains strong due to the growth of the electric vehicle market [3]. - Key companies recommended in this sector include Huayou Cobalt and Tianqi Lithium [3]. Precious Metals - Gold prices are expected to continue rising due to strong demand from central banks and geopolitical uncertainties [3]. - Recommended companies in the precious metals sector include Western Gold, Shandong Gold, and Zijin Gold [3].

视频编辑丨许婷婷 10月17日，黄金价格再创新高，上海黄金交易所AU99.99早盘价报990.35元/克，午盘价已升至998.8元/克，日内多次突破千元关口。 深圳水贝迎来千元金价，当日下午，水贝足金报1004元/克，回收价报980元/克 。 记者丨张晓慧 编辑丨孙超逸 受黄金价格影响，17日多个黄金股大涨，萃华珠宝开盘一度涨停，截至收盘涨4.2%，周大福涨5.02%，老铺黄金涨幅达3.11%；西部黄金、山 东黄金、四川黄金等上游黄金企业同样表现不同程度涨幅。 黄金各类投资火热，萃华珠宝集团总经理、黄金理财投资分析师柳玉荣在接受21世纪经济报道采访时表示，当前黄金价格突破新高，受到地缘 政治、央行增持等多个因素影响，应警惕黄金价格回落；同时，黄金本身作为"零息资产"，投资者更应谨慎配置，按需购金。 17日晚间，国际金价出现跳水， 现货黄金 最新报价 4251.448美元/盎司，当天盘中一度跌穿4200美元。 近日，上海黄金交易所发布公告，称近期影响市场不稳定的因素较多，国际贵金属价格波动剧烈，提示会员单位合理控制仓位，理性投资。 SFC 出品丨21财经客户端 21世纪经济报道 编辑丨金珊 实习生丁紫祎 多地预 ...

Core Viewpoint - The recent surge in gold prices, driven by various economic factors, has led to increased interest in gold as a defensive asset amidst global uncertainties and geopolitical risks [1][2][4]. Group 1: Gold Price Movements - As of October 17, the London spot gold price experienced fluctuations, reaching a new high of $4,380 per ounce before a rapid decline, with the total market capitalization of gold surpassing $30 trillion [1]. - Since October, the London spot gold price has risen nearly 13% after breaking the $4,000 per ounce mark, primarily due to expectations of liquidity easing and concerns over U.S. debt and currency depreciation [2]. Group 2: Market Reactions and Risk Management - Various exchanges have issued risk warnings due to the volatility in gold and silver prices, advising investors to manage their positions carefully [2]. - The Shanghai Futures Exchange announced adjustments to margin requirements and price limits for gold and silver futures to mitigate risks associated with high volatility [3]. Group 3: Institutional Outlook on Gold - Morgan Stanley predicts that gold prices could reach $4,500 per ounce by the second half of 2026, while Goldman Sachs has raised its forecast for December 2026 from $4,300 to $4,900 per ounce [3][4]. - Goldman Sachs anticipates that central bank gold purchases and inflows into gold ETFs will continue to support rising gold prices, contributing approximately 19% and 5% to price increases, respectively [4].