FXGT:避险情绪驱动金银齐创新高

Group 1 - The core viewpoint of the article highlights that geopolitical tensions and a weakening dollar are driving unprecedented inflows of safe-haven funds into the precious metals market, with gold and silver reaching historical highs [1][3] - The current price surge is primarily rooted in a significant increase in global uncertainty, with U.S. pressure on Venezuelan oil exports causing supply chain concerns and military actions in Nigeria amplifying market risk aversion [1][3] - Gold is reaffirmed as the "ultimate safe-haven asset," while silver's industrial demand in photovoltaic and electronic sectors provides additional upward momentum for its price [1][3] Group 2 - The macroeconomic environment shows a recent decline in the U.S. dollar index, reaching lows against major currencies, which enhances the attractiveness of dollar-denominated precious metals for global investors [1][3] - Expectations for the Federal Reserve to initiate a loosening cycle in 2026 have significantly increased, driven by slowing inflation and stable economic growth [1][3] - The decrease in U.S. Treasury yields lowers the opportunity cost of holding non-yielding assets, further supporting the appeal of precious metals [1][3] Group 3 - Looking ahead, despite potential liquidity contraction during the holiday season that may amplify price volatility, the long-term fundamentals for gold and silver remain strong [2][4] - The upward trend driven by safe-haven demand and policy shift expectations is anticipated to maintain its momentum into the new year [2][4]