金银强势拉升！黄金稳、白银暴涨，节前走势一锤定音

Market Overview - On February 10, 2026, the global precious metals market experienced a significant surge, with London gold prices surpassing $5050, closing at $5053.12 per ounce, a daily increase of 0.35%. Silver prices rose even more dramatically, reaching $83.575 per ounce, a jump of 4.71% [1][3] - The Shanghai Gold Exchange reported a gold T D price of 1125.86 yuan per gram, up 0.79%, while the main silver contract surged to 20934 yuan per kilogram, marking a 5.24% increase [1][3] Consumer Behavior - In Beijing, major jewelry stores adjusted their gold prices, with 24K gold jewelry reaching 1560 yuan per gram, marking the third price increase within the month [3] - Consumers are showing increased interest in silver investments, with reports of tight inventory for silver bars and coins, leading to potential delivery delays [3][8] - There is a noticeable shift in consumer purchasing behavior, with many non-essential buyers opting to wait, while demand from wedding and gift purchases remains strong [14] Price Volatility - The price fluctuations are attributed to multiple factors, including speculative trading in the Chinese market and a reduction in hedge fund long positions in gold, which fell by 23% to 93,438 contracts, the lowest in 15 weeks [6] - The macroeconomic environment is changing, with expectations of a slowdown in U.S. job growth and a high unemployment rate, reinforcing market predictions for interest rate cuts by the Federal Reserve [6] - Geopolitical tensions, particularly in the Middle East, continue to sustain high levels of risk aversion among investors [6] Silver Market Dynamics - The silver market is experiencing unique dynamics due to its smaller market size compared to gold, leading to amplified volatility with equivalent capital inflows [8] - The World Silver Association reported a consistent supply deficit of over 4000 tons annually in the last five years, with demand from the photovoltaic industry growing at an annual rate of 15% [8] - The industrial demand for silver is being reshaped, particularly with AI servers consuming 2 to 3 times more silver than traditional servers, while companies are actively seeking alternative materials due to rising silver prices [10] Investment Trends - The futures market reflects a division among participants, with some predicting a price support range for silver between $75 and $80, while others forecast a target price of $170 per ounce for the year [10] - There is a notable increase in physical gold purchases, with banks reporting long queues for gold buying, while simultaneously tightening investment thresholds for gold accumulation products [12] - The trading habits are evolving, with a significant increase in the use of safety deposit boxes as clients seek to secure their gold investments amid rising prices [12]