Geopolitical Analysis - U.S. President Trump stated that the ongoing Greenland agreement will grant the U.S. "all desired military access" [2] - Trump threatened "strong retaliation" if European countries sell U.S. assets due to tariff threats related to Greenland [2] Economic Data - U.S. GDP for Q3 2025 was revised to an annualized growth of 4.4%, up from the initial estimate of 4.3%, marking the fastest growth in nearly two years [2] - The core PCE price index, a key inflation measure favored by the Federal Reserve, rose 2.8% year-over-year and 0.2% month-over-month, both in line with expectations [2] - Initial jobless claims in the U.S. were reported at 200,000, below the expected 210,000 [2] Futures Market Overview - On January 22, 2026, the main gold contract opened at 1,097.00 CNY/gram and closed at 1,087.58 CNY/gram, a decrease of 0.43% from the previous trading day [16] - The main silver contract opened at 23,037.00 CNY/kilogram and closed at 23,339.00 CNY/kilogram, an increase of 0.90% from the previous trading day [16] Bond Market Monitoring - On January 22, 2026, the U.S. 10-year Treasury yield remained unchanged at 4.241%, with the yield spread between 10-year and 2-year notes at 0.646% [17] Gold and Silver Holdings - As of January 22, 2026, gold ETF holdings were 1,077.66 tons, unchanged from the previous day, while silver ETF holdings decreased by 56 tons to 16,166 tons [19] Trading Strategies - Gold is viewed cautiously bullish, with expectations for prices to remain in a range of 1,090 CNY/gram to 1,170 CNY/gram [22] - Silver is also seen as cautiously bullish, with anticipated price fluctuations between 23,800 CNY/kilogram and 25,000 CNY/kilogram [23]
华泰期货：地缘冲突阴云不散 贵金属再次走强
Xin Lang Cai Jing·2026-01-23 02:12