Group 1 - The current geopolitical restructuring signals the end of the post-World War II economic model focused on free trade and efficiency, with a shift towards "national activism" as indicated by the surge in commodity prices [1][2] - Traditional valuation models are struggling to explain current market volatility, as the driving forces are shifting from "capital efficiency" to "geopolitical power" [1][2] - The U.S. federal deficit is projected to reach $1.8 trillion in fiscal year 2025, with interest payments exceeding $1 trillion for the first time, prompting a redefinition of "safe assets" globally [3] Group 2 - Despite a 67% increase in gold prices over the past year, mining companies are facing rising production costs and regulatory pressures, with major miners expected to incur production costs of $1,600 per ounce by 2026 [4] - The trend of nationalization of mining rights is becoming more prevalent globally, indicating a shift in the mining investment landscape [4] - A projected copper supply deficit of over 300,000 tons in 2026 is expected to increase the strategic value of industrial metals [4]
NCE外汇:金价跨越关口 重塑资产定价
Xin Lang Cai Jing·2026-01-07 10:28