Core Viewpoint - The recent surge in gold and silver prices is driven by geopolitical factors, expectations of interest rate cuts by the Federal Reserve, and increased industrial demand, leading to a positive outlook for precious metals in the medium to long term [2][3][8]. Price Movements - As of January 12, gold reached a record high of $4610.68 per ounce, with a daily increase of over 2%, while silver rose more than 7% to surpass $85 per ounce, also setting a new historical record [2][3]. - International gold and silver futures hit historical highs of $4612.7 per ounce and $84.69 per ounce, respectively, with daily increases of 2% and 5% [3]. ETF Performance - Gold ETFs collectively rose, with the Guotou Silver LOF increasing by 7.11% [3]. - In the first seven trading days of 2026, gold ETFs saw net subscriptions exceeding 400 million shares, with the Huazhang Gold ETF approaching a scale of 100 billion yuan [3]. Institutional Insights - UBS Wealth Management raised its price forecast for gold, increasing target prices for March, June, and September 2026 from $4500 to $5000 per ounce, with a slight decline expected to $4800 by the end of 2026 [4]. - Analysts from various institutions express optimism about the long-term performance of gold and silver, citing a shift in investment logic towards strategic hedging against long-term structural risks [8][9]. Banking Sector Response - In response to high gold prices, banks are tightening risk management for gold-related businesses, raising the entry threshold for gold accumulation business to a balanced investment level [5][6]. - Several banks have launched structured deposits linked to gold, offering varying expected annual returns based on gold price fluctuations [6][7]. Industrial Demand - Increased demand for gold from central banks and industrial sectors such as photovoltaics, electric vehicles, and AI infrastructure is contributing to rising gold and silver prices [3][9].
金银价格强势拉涨 相关ETF规模大增 银行“上新”挂钩黄金结构性存款
Shang Hai Zheng Quan Bao·2026-01-12 18:58