金价突破4700美元创新高 四家机构热议后市走向

Core Viewpoint - The international gold market has seen a significant rise in prices, reaching historical highs, driven by increased market risk aversion and weakening dollar confidence [1][2][3]. Group 1: Price Movements - As of January 20, 2026, London spot gold prices surpassed $4,700 per ounce, peaking at $4,731.54 per ounce, while COMEX gold futures reached $4,738.0 per ounce, with cumulative increases of 9.38% and 9.31% respectively since 2026 [1][7]. - The recent surge in gold prices is attributed to a combination of geopolitical tensions and market dynamics, leading to a strong influx of investment into gold [3][9]. Group 2: Market Drivers - Analysts indicate that the primary drivers for the high gold prices include heightened market risk aversion due to geopolitical tensions, particularly involving Venezuela and Iran, and concerns over the independence of the Federal Reserve following legal pressures on its chairman [2][8]. - The U.S. economic data has shown resilience, with no immediate signs of recession, which has contributed to a cautious outlook on interest rate cuts by the Federal Reserve, further supporting gold prices [2][10]. Group 3: Future Outlook - Analysts suggest that the gold market may experience increased volatility in the short term, with recommendations for investors to wait for price corrections before entering long positions [2][9]. - There is a consensus among analysts that the geopolitical landscape will continue to provide substantial support for gold prices, with some predicting potential highs of $5,200 per ounce in the short term, although caution is advised regarding overvaluation risks [5][11].