截至1月13日，全球最大的黄金ETF——SPDR Gold Trust的黄金持仓量为1074.23吨，较上一交易日增加 3.43吨。 （文章来源：新华财经） ...

转自：新华财经 | Total Net Asset Value in the Trust Ounces | Tonnes | | --- | --- | | US$159,647,035,012.14 | 34,537,542.98oz 1,074.229 | | 13 Jan 2026 | 13 Jan 2026 13 Jan 2026 | ...

摘要全球最大黄金ETF--SPDRGoldTrust持仓报告显示，1月12日黄金etf持有量为1070.80吨，较上一交易 日增加6.24吨。周与（1月12日)截止收盘，现货黄金报4597.94美元/盎司，涨幅1.97%，日内最高上探至 4629.88美元/盎司，最低触4508.56美元/盎司。 全球最大黄金ETF--SPDR Gold Trust持仓报告显示，1月12日黄金etf持有量为1070.80吨，较上一交易日 增加6.24吨。周与（1月12日)截止收盘，现货黄金报4597.94美元/盎司，涨幅1.97%，日内最高上探至 4629.88美元/盎司，最低触4508.56美元/盎司。 【市场要闻速递】 特朗普政府对格陵兰岛的领土主张及武力威胁，直接引发北约内部主权危机与美国国内政治分裂。这一 事件通过"地缘政治风险溢价"和"系统性避险需求"双重路径提振金价：短期看，若危机停留于外交博弈 阶段，黄金将获温和支撑；若升级至立法对抗或军事威慑，金价将获显著上行驱动；一旦实际冲突爆 发，黄金将开启暴涨行情。 ...

Group 1 - Gold prices have reached new highs, driving Hong Kong gold stocks to continue rising, with companies like Zhaojin Mining, Zijin Mining, and China Gold International hitting historical peaks [1] - In the A-share market, gold concept stocks have strengthened, with Mingpai Jewelry hitting the daily limit, Hunan Silver reaching the daily limit, and several other companies seeing significant gains [2] - The gold stock ETFs have risen over 3%, with a cumulative increase of over 12% since 2026, reflecting strong investor interest in gold-related assets [3] Group 2 - Due to a significant increase in gold prices and substantial purchases by central banks, gold may have surpassed U.S. Treasury bonds as the largest reserve asset globally, with U.S. overseas gold reserves valued at approximately $3.82 trillion [4] - Citigroup has raised its short-term outlook for precious metals, increasing the gold price target from $4,200 to $5,000 per ounce and silver from $62 to $100 per ounce, citing geopolitical risks and uncertainties surrounding the Federal Reserve [4] - Analysts suggest that the long-term outlook for gold remains positive, supported by expectations of Federal Reserve rate cuts and strong physical demand, despite short-term risks due to high prices [5] Group 3 - The gold stock ETF (product code: 159562) tracks the CSI Hong Kong and Shanghai Gold Industry Stock Index, showing a recent five-day increase of 6.76% and a price-to-earnings ratio of 29.37 times [7] - The latest share count for the gold stock ETF is 1.34 billion, with a net redemption of 473.7 million yuan, indicating some investor caution [7]

截至1月12日，全球最大的黄金ETF——SPDR Gold Trust的黄金持仓量为1,070.80吨，较上一交易日增加 6.24吨。 资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 ...

Core Insights - Gold reached a record high of nearly $4,600 an ounce due to escalating political tensions in the U.S. and unrest in Iran, driving investors towards safe-haven assets [1] Group 1: Political and Geopolitical Factors - The Federal Reserve faced grand jury subpoenas from the U.S. Justice Department, raising concerns about the independence of U.S. monetary policy amid political disputes [2] - Protests in Iran have intensified geopolitical risks, contributing to increased demand for precious metals as uncertainty in global geopolitics and oil markets rises [3] - President Trump's comments regarding potential actions on Iran and NATO have further added to market unease [3] Group 2: Economic Indicators and Market Expectations - A softer-than-expected U.S. jobs report has led to expectations of at least two interest rate cuts by the Federal Reserve this year, supporting the gold market [4] - Central bank demand, particularly from BRICS nations and emerging economies, is driving a global trend of de-dollarization, resulting in record levels of sovereign gold purchases [5] Group 3: Investment Trends and Predictions - Gold is projected to potentially reach $10,000 an ounce by 2030, driven by factors such as Fed rate cuts, trade tensions, and declining confidence in the U.S. dollar [6] - Ray Dalio has recommended that investors allocate up to 15% of their portfolios to gold, highlighting its role as a hedge against monetary debasement and geopolitical uncertainty [7] Group 4: Performance of Gold and Other Safe-Haven Assets - Gold ETFs like SPDR Gold Trust (GLD) have shown significant gains, with a 68.7% increase over the past year and a 3.2% rise year-to-date [6] - Other safe-haven assets have underperformed, with the Invesco DB US Dollar Index Bullish Fund (UUP) declining about 8.4% over the past year, while gold remains a more attractive option [10] Group 5: Investment Opportunities in Gold ETFs - Investors looking to capitalize on the bullish trend in gold may consider gold ETFs such as SPDR Gold Trust (GLD), iShares Gold Trust (IAU), and SPDR Gold MiniShares Trust (IAUM) [11]

截至2026年1月9日，全球最大的黄金ETF——SPDR Gold Trust持仓量为1064.56吨，较前一个交易日减 少2.57吨。 资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 ...

Core Viewpoint - 2026 is expected to be another significant year for precious metals, particularly gold, which has seen a substantial increase in demand due to economic uncertainties and political turmoil [1][2][3]. Group 1: Market Performance - The SPDR Gold Trust (GLD) experienced a remarkable 64% increase in 2025, outperforming all major U.S. stock market indices [2]. - The U.S. government faced a $1.8 trillion budget deficit in fiscal 2025, raising national debt to a record $38.5 trillion, with another trillion-dollar deficit anticipated in fiscal 2026 [8]. Group 2: Demand Factors - Gold's appeal as a store of value is partly due to its scarcity, with only 216,265 tons mined throughout history, compared to 1.7 million tons of silver [4]. - The depreciation of paper currencies, particularly the U.S. dollar, has driven investors towards gold as a hedge against inflation and currency devaluation [5][8]. Group 3: Historical Context and Expectations - Historically, gold has averaged an annual gain of 8% over the last 30 years, suggesting that while conditions are favorable for price increases, expectations should be tempered following the extraordinary 64% gain in 2025 [9][10]. - The S&P 500 index has outperformed gold, averaging an 11% annual gain over the same period, indicating that gold may not always be the best investment compared to income-generating assets [10]. Group 4: Investment Strategies - Gold can be a valuable component of a diversified portfolio, especially in the current economic climate, with recommendations from notable investors like Ray Dalio suggesting a 15% allocation to gold [12]. - The SPDR Gold ETF offers a convenient way for investors to gain exposure to gold without the storage and insurance costs associated with physical gold [13][14].

贵金属2026年报 ——贵金属仍处上行通道， 拐点关注美联储政策变化与美国经济改善 汪楠 从业资格号：F3069002 投资咨询号：Z0017123 中航期货 2025-12-31 02 宏观面 目录 01 后市研判 03 基本面 后市PA研RT判01 Ø 2025年贵金属市场表现亮眼，黄金和白银均呈现加速上涨格局，不断突破历史新高。年内国际金价从2600美元/盎司上涨至最高4550美元/盎司 以上，涨幅70%以上；国际银价从29美元/盎司上涨至最高82美元/盎司上方，涨幅高达180%以上。2025年贵金属价格上涨的逻辑不断切换，从 上半年市场交易对等关税及美国经济衰退担忧带来的避险需求，到下半年交易降息预期带来的流动性宽松预期，叠加白银实物供需紧缺驱动 资金流入贵金属市场，价格加速上行，波动显著放大。在金价上涨的过程中，白银涨幅遥遥领先，实现了金银比的修复回归。 Ø 展望2026年，当前支撑贵金属价格上涨的逻辑并没有发生改变，贵金属仍处上行通道。美国财政货币双宽松的背景下，美元信用持续受损， 去美元化加速资产储备的多元化，全球央行延续购金将继续支撑金价，重点关注中国央行购金行为；而流动性宽松仍将是2026年 ...

资讯编辑：王芳琴 021-66896877 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 截至1月8日，全球最大黄金ETF——SPDR Gold Trust持仓较上个交易日维持不变，当前持仓量为 1067.13吨。 ...