NCE平台:贵金属高波动运行

Core Viewpoint - Precious metals, particularly gold and silver, have shown strong performance at the beginning of the year, with silver standing out, reflecting their safe-haven attributes amid multiple uncertainties in the market [1][3]. Group 1: Market Dynamics - Geopolitical events have heightened short-term demand for safe-haven assets, leading to increased price volatility within the day [1][3]. - There is a rapid shift of funds between risk assets and defensive assets, indicating a complex market structure where both bullish and bearish forces are in contention [1][3]. - Global stock markets have performed strongly at the start of 2026, with major indices reaching historical highs, supported by sector rotation and a recovery in risk appetite [1][3]. Group 2: Precious Metals Performance - The rise in precious metals is not solely due to a broad-based flight to safety but appears to be a hedging choice in an environment of high valuations and uncertainty [1][3]. - The correlation between the strengthening stock market and the rise in gold and silver prices reflects the complexity of the current market structure [1][3]. Group 3: Interest Rate Influence - Stable U.S. Treasury yields are influencing precious metals, with the market still engaged in a battle of expectations regarding future policy directions [4]. - As long as actual interest rates lack a clear direction, gold and silver prices are likely to experience wide fluctuations rather than a one-sided trend [4]. Group 4: Technical Analysis - Both gold and silver are trading near critical price levels, with significant divergence between bulls and bears [2][4]. - The current technical structure suggests that investors should focus more on risk management rather than making directional bets, as precious metals are likely to trade within a range while awaiting new macroeconomic or funding signals [2][4].