国际金银价格再创新高，机构称未来上涨逻辑依然稳固

Industry Overview - International gold prices reached a historic high on the 20th, with both New York Mercantile Exchange gold futures and London spot gold prices surpassing $4,700 per ounce [1] - International silver prices also hit a record high, with London spot silver and New York silver futures prices exceeding $95 per ounce [1] Market Analysis - Guotai Junan believes that the rising uncertainty in global geopolitical situations and continuous gold purchases by central banks support a long-term price floor for gold [1] - Although speculative trading has temporarily increased gold price volatility, policies from the Trump administration may further weaken the international credibility of the U.S., indicating that gold prices remain resilient [1] - Galaxy Securities notes that gold and silver prices have historically shown a high correlation, while industrial demand from sectors like photovoltaics and new energy provides solid medium to long-term support for silver prices [1] Company Insights - Zhongjin Gold's core products include gold, with a product range that encompasses gold concentrate, alloy gold, and standard gold [1] - Shengtun Mining focuses on the development and utilization of energy metal resources, concentrating on copper, nickel, and cobalt, while also having gold mining projects [1]