每经编辑｜毕陆名 2月2日，现货黄金巨震，日内一度跌超6%。截至发稿，跌幅收窄，现报4732.43美元/盎司。 据查询，周生生足金饰品报1484元/克，较前一日1618元/克跌134元。 | く 厨 | | 贵金属 | | മ | 17 Q | | --- | --- | --- | --- | --- | --- | | | | 3311.54 -10.35% | | | | | 成份股 | 资金 | 关联基金 | 股呢 必读 | | 资讯 | | 全部市场(11) × | | 自选 | 龙头 (7) 最新 (11) × | | 几天几 | | ◎ 品 日 | | 最新 | 涨幅↓ | | 涨跌 | | 湖南黄金 | | 34.31 | -7.27% | | -2.69 | | 002155 融 | | | | --- | --- | --- | | 6天5板 人气龙头二 股吧人气 成交活跃 | | | | 湖南白银 | 17.14 -9.98% | -1.90 | | 002716 融 | | | | 股吧人气 | | | | 山金国际 | 31.36 -9.99% | -3.48 | | 000975 ...

Group 1 - The A-share market saw a significant decline in gold-related stocks, with over 20 stocks hitting the 10% limit down, including notable companies like Xiaocheng Technology, Tongling Nonferrous Metals, and China Gold [1] - Gold prices continued to retreat, with spot gold dropping to $4,586.16 per ounce, a decrease of 18% from last week's historical high of $5,595.44 [1] - Spot silver also experienced a substantial decline, falling to $76.967 per ounce, which is a 36.7% drop from last week's peak of $121.6485 [1] Group 2 - Xiaocheng Technology reported a decline of 17.08%, with a total market value of 15.3 billion [2] - Tongling Nonferrous Metals saw a decrease of 10.04%, with a market capitalization of 99.8 billion [2] - Other companies like Baijin Nonferrous Metals and Hengbang Shares also faced declines of 10.02% and 10.02%, respectively, with market values of 91.1 billion and 26.6 billion [2]

截至2026年1月30日收盘，山金国际(000975)报收于34.84元，下跌10.0%，跌停，换手率1.95%，成交量49.31万手，成交额17.37亿元。 当日关注点 交易信息汇总 1月30日山金国际（000975）收盘报34.84元，跌停，当日成交4931.18万元。该股近5个交易日中有2日跌幅超5%。前10个交易日资金流向显示，主 力资金累计净流入2678.97万元，股价累计上涨21.69%；融资余额累计增加1.01亿元，融券余量累计增加14.38万股。过去90天内，共有5家机构对 该股给出评级，其中买入评级4家，增持评级1家，机构目标均价为26.75元。 1月30日资金流向数据显示，主力资金净流入6966.69万元，游资资金净流出7862.52万元，散户资金净流入895.83万元。 董秘最新回复 投资者： 请问贵公司为何没有发布业绩预报？ 董秘： 尊敬的投资者您好！公司严格按照监管部门相关规定履行信息披露义务。感谢您的关注！ 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 来自交易信息汇总：1月30日山金国际收盘报34.84 ...

Investment Rating - The investment rating for the precious metals industry is "Positive" (maintained) [5] Core Viewpoints - The report indicates that despite recent fluctuations in gold and silver prices, the long-term logic for precious metals remains intact. The recent price movements are attributed to various factors including the Federal Reserve's decision to maintain interest rates and political developments in the U.S. [4][6] - The report emphasizes that the "Trump 2.0" and "rate cut trade" themes will continue to provide strong momentum for gold prices in the medium term. It suggests that investors should look for phase-specific allocation opportunities [6] - Long-term expectations are that the combination of "rate cut trade" and "Trump 2.0" will catalyze further price increases for gold, supported by central bank purchases and geopolitical factors [6] Price Trends - Over the past two weeks, as of January 30, 2026, London spot gold increased by 8.04% to $4,981.85 per ounce, while the Shanghai gold price rose by 12.51% to ¥1,161.42 per gram. The holding volume for Shanghai gold decreased by 5.88% to 326,700 contracts [11] - London spot silver rose by 13.65% to $103.19 per ounce, and the Shanghai silver price increased by 24.28% to ¥27,941 per kilogram, with Shanghai silver holding volume down by 8.54% to 657,700 contracts [11] - The report notes that palladium prices increased by 3.70% to $1,820 per ounce, while platinum prices slightly decreased by 0.04% to $2,300 per ounce [11] Economic Data and Federal Reserve Tracking - The report highlights the importance of upcoming U.S. economic data releases, including the ADP employment numbers and unemployment rates, which are expected to influence market sentiment and precious metal prices [6] - The Federal Reserve's current stance is viewed as appropriate, with a focus on balancing inflation and employment risks, which may extend the timeline for potential rate cuts [6] Holding and Trading Volume - The report provides insights into the trading volumes, noting a decrease in holding volumes for both gold and silver in the Shanghai market, indicating a potential shift in market sentiment [11] Price Differentials and Futures Basis - The report states that the gold price differential between domestic and international markets has increased, with the current differential at ¥62.04 per gram, up from two weeks prior [61] - The international gold basis (spot-futures) has risen to $74.35 per ounce, indicating a tightening market [63]

Investment Rating - The report provides a "Buy" rating for several companies in the non-ferrous metals sector, including Shandong Gold, Zijin Mining, and China Hongqiao [9]. Core Views - The macroeconomic sentiment has cooled, leading to a general decline in metal prices, particularly in precious metals where silver and gold experienced significant drops [1]. - The report highlights the ongoing supply constraints in the copper market, with major mining companies reducing their production forecasts due to capacity limitations [2]. - The aluminum market is expected to experience short-term fluctuations due to geopolitical tensions and macroeconomic policies, with demand anticipated to recover as the peak season approaches [3]. - Nickel prices have shown volatility, influenced by macroeconomic sentiment and supply-side cost pressures, with expectations of limited downside due to rising production costs [4]. - Tin prices are supported by macroeconomic factors and supply chain bottlenecks, although demand remains weak ahead of the Chinese New Year [5]. - Lithium prices have retreated from highs due to regulatory impacts and market liquidity tightening, but there is expected support from supply-side maintenance and pre-holiday stocking [6]. Summary by Sections Precious Metals - Significant declines in silver and gold prices were noted, with silver dropping 36% and gold falling over 12% in a single day [1]. - Companies to watch include Xinyi Silver, Shengda Resources, and Zijin Mining [1]. Industrial Metals - Copper inventories increased globally, with a notable rise in U.S. stocks, while Chinese inventories decreased [2]. - The report suggests monitoring companies like Zijin Mining and Luoyang Molybdenum [2]. - Aluminum production is stable, but demand is fluctuating due to seasonal factors and geopolitical issues [3]. - Nickel prices fell by 5.4% due to macroeconomic sentiment, with supply-side cost pressures expected to limit further declines [4]. Energy Metals - Lithium prices have decreased, with battery-grade lithium carbonate dropping 5.6% to 160,000 CNY/ton [5]. - The report indicates that companies like Ganfeng Lithium and Tianqi Lithium should be monitored [5]. Cobalt - Cobalt prices have stabilized, with a slight increase in electrolytic cobalt prices [8]. - Companies to focus on include Huayou Cobalt and Liyuan Resources [8]. Company Announcements - Zijin Mining announced a significant acquisition of a gold mining company, which could enhance its resource base [36]. - Huayou Cobalt signed a cooperation agreement for an integrated battery supply chain project in Indonesia [36]. - Tianqi Lithium reported progress on its lithium production expansion project [36].

Core Viewpoint - The market for gold and silver has experienced significant declines, with spot gold dropping over 4% and spot silver falling more than 5%, indicating a bearish trend in precious metals [1][4]. Group 1: Market Performance - Spot gold is reported at $5,139.38 per ounce after a daily decline of over 4% [4]. - Spot silver is currently priced at $108.90 per ounce, reflecting a drop of more than 5% [4]. - The A-share market opened lower, with all three major indices declining by over 1%, led by the gold and base metals sectors [4]. Group 2: Stock Performance - Several gold and silver-related stocks have hit the daily limit down, including companies like 盛达资源 (Shengda Resources) and 中金黄金 (Zhongjin Gold), which both saw a 10% drop [4][5]. - Specific stock performances include: - 晓程科技 (Xiaocheng Technology) down 19.92% with a trading volume of 2.289 billion [5]. - 贵研铂业 (Guiyan Platinum) down 10.01% with a trading volume of 1.031 billion [5]. - 山东黄金 (Shandong Gold) down 10% with a trading volume of 3.775 billion [6]. Group 3: Risk Announcements - Multiple companies, including 白银有色 (Baiyin Yese) and 招金黄金 (Zhaojin Gold), issued risk warnings due to the volatility in precious metals prices [6][9]. - The domestic prices of gold jewelry have also seen a decline, with major brands like 周生生 (Chow Sang Sang) and 周大福 (Chow Tai Fook) adjusting their prices [6].

Core Viewpoint - The market experienced a sudden reversal in sentiment on January 30, leading to a panic sell-off in the non-ferrous metals sector, halting the previous bullish trend [1] Group 1: Market Performance - The non-ferrous metals ETF (招商159690) faced significant selling pressure, hitting a 10% limit down, with trading volume sharply increasing [2] - Major stocks in the sector, including 兴业银锡 and 云铝股份, also reached their daily limit down of 10% [2] Group 2: Causes of the Decline - The immediate trigger for the decline was a sharp drop in international precious metals prices, with gold and silver experiencing maximum daily declines of over 5% and 8%, respectively [3] - The underlying cause was attributed to a significant profit-taking demand that had built up in the market, as previous gains had been substantial and some stock prices were seen as overextended relative to short-term fundamentals [3] Group 3: Future Outlook - Most analysts believe that the decline is more of a technical adjustment driven by emotions and capital rather than a fundamental reversal of the industry's long-term logic [3] - Key factors supporting a medium to long-term bull market in non-ferrous metals, such as rigid supply, structural demand from new energy and AI, and the evolution of the global monetary credit system, remain intact [3] - After the short-term panic and valuation pressure are alleviated, the sector is expected to return to a focus on macro policies and industry fundamentals, with structural opportunities based on real supply and demand still worth monitoring [3]

Market Overview - The A-share market opened lower and continued to decline, with the gold sector experiencing significant losses, leading to multiple stocks hitting the daily limit down [1] - The Hong Kong stock market also showed weakness, with the non-ferrous metals sector declining across the board [1] Gold Sector Performance - The gold sector collectively retreated, closely linked to the short-term volatility of international gold prices [2] - On January 29, gold prices initially surged past $5,500 per ounce, setting a historical high, but later experienced a sharp drop, retracting over $100 from the peak [2][5] - By 9:50 AM Beijing time, spot gold had fallen to around $5,340 per ounce, reflecting a significant decline from the previous day's high [2] Historical Context and Factors Influencing Gold Prices - Recent strong performance in the gold market is attributed to multiple shocks to the U.S. dollar credit system since the outbreak of the Russia-Ukraine conflict in 2022 [5] - Gold prices have reached historical highs three times due to these shocks, with significant increases noted in 2022 and 2023 [5] - As of 2025, global gold demand reached 5,002 tons, amounting to $555 billion, indicating a growing recognition of gold's safe-haven attributes [5] Market Reactions and Future Outlook - The recent market volatility is closely tied to the upcoming announcement of the next Federal Reserve Chair by President Trump, which has led to profit-taking among investors [6] - There is a divergence in market opinions regarding the future of gold prices, with short-term adjustments expected as the market awaits clarity on the new Fed Chair's policies [6] - Long-term support for gold assets remains strong due to potential risks in the dollar credit system, geopolitical uncertainties, and sustained global demand for safe-haven assets [6]

Group 1 - The precious metals sector opened lower, with companies like Zhongjin Gold, Silver Nonferrous, and others hitting the daily limit down [1] - The precious metals index dropped by 8.22%, with 13 companies declining and only one company rising [2] - In the past week, the precious metals sector saw a significant increase of 25.40%, with a monthly increase of 86.46%, a quarterly increase of 110.70%, and an annual increase of 255.02% [2] Group 2 - Xiaocheng Technology experienced a sharp decline of over 19%, with a latest price of 68.78 and a market capitalization of 16.071 billion [2] - Sichuan Gold's stock price fell by 10% to 66.18, with a market capitalization of 19.09 billion [2] - Shandong Gold's stock decreased by 8.68% to 55.35, with a market capitalization of 200.059 billion [2]

1月29日凌晨，美联储召开2026年首次议息会议，宣布将基准利率维持在3.5%至3.75%的区间，符合市 场预期。此前，美联储已分别在去年9月、10月和12月连续三次降息25个基点。 决议公布后，国际金价强势上攻，一度逼近5600美元。截至发稿，现货黄金徘徊在5500美元的高位，日 内涨幅约2.3%，2026年开年以来已累计涨超28%，涨逾1200美元。白银价格同样大涨，现货白银突破 119美元/盎司，刷新历史纪录。 这一情绪也传导至A股市场。29日早盘，贵金属概念集体爆发，招金黄金9天6板，中国黄金5连板，湖 南黄金4连板，四川黄金、晓程科技、山金国际、兴业银锡等纷纷高开。 事实上，机构对黄金的看多预期早已提前释放。此前，已有多家机构相继上调黄金目标价。其中，摩根 士丹利将2026年下半年的黄金目标价提高至5700美元，当前金价距这一目标仅一步之遥。美银和法国兴 业均看高至6000美元，德意志银行则预测年内金价有望触及6000-6900美元。 中信证券在研报中指出，本轮金价走势多被地缘因素和市场情绪主导。此外，各国央行购金潮也是本轮 黄金大牛市的直接驱动力。如中国人民银行已连续14个月增持黄金，2025年全 ...