衡量美元对六种主要货币的美元指数9日当天下跌0.84%，在汇市尾市收于96.814。 近期贵金属市场的大幅波动以及交易所持续收紧风控要求，使得市场投机情绪有所降温。美国商品期货 交易委员会（CFTC）日前的报告称，由于黄金期货价格近期遭遇十多年来最大跌幅，基金经理已将多 头头寸削减至2025年10月以来最低水平。截至2月3日当周，对冲基金和其他大型投机者的净多头头寸减 少了23%，至93,438份合约。 分析认为，目前地缘政治局势虽未出现超级热点，但诸多全球性问题暗流涌动，这支持了对贵金属的避 险需求。同时，美元指数大幅走低以及原油价格上涨也利好贵金属价格。 新华财经纽约2月9日电（记者徐静） 周一（2月9日）贵金属市场继续震荡回升，其中金价重回5000美 元/盎司关口上方。 截至当天收盘时，纽约商品交易所黄金期货市场交投最活跃的2026年4月黄金期价上涨95.6美元，收于 每盎司5084.2美元，涨幅为1.92%。 （文章来源：新华财经） 当天3月交割的白银期货价格上涨552.5美分，收于每盎司83.050美元，涨幅为7.13%。 ...

【环球网财经综合报道】北京时间1月24日凌晨，白银价格继续高歌猛进，COMEX白银、现货白银先 后历史性突破100美元/盎司大关，并站上103美元关口，年内累计涨幅已超40%，同期表现远超黄金。 与此同时，黄金价格继续向5000美元发起冲击，COMEX黄金期货一度涨至4991美元/盎司。 分析人士称，全球白银供需缺口扩大，美国关税政策引发地缘政治紧张，国际投资机构资产配置调整与 美联储主席人选不确定性，共同推升贵金属避险需求。 中信建投期货发文称，当明代商贾把碎银推过柜台，当人们举起白银做的酒杯，当期货交易员敲 击"AG"合约，人类对白银的痴迷从未褪色。地壳含量仅亿分之七的稀有金属，贵金属＋工业金属双重 身份的稀缺，让白银自古就闪耀着光芒。 文章还介绍，银是所有金属中导电性和导热性最好的金属；银对光的反射性也很好，反射率可达到 91%。银的化学性质不活泼，在常温下不与氧发生反应，银属于较稳定的元素。长久暴露在空气中，则 和空气中的硫化氢化合，表面变成黑色，形成黑色的硫化银。 ...

投资咨询业务资格：证监许可【2012】669号 中信期货研究|贵⾦属策略⽇报 2026-1-20 美欧关税担忧升温，⾦银价格再创新⾼ 央视新闻报导，特朗普威胁对⼋个反对其收购格陵兰岛计划的欧洲国家征 收关税；市场对欧洲发起关税反制的预期升温，推升贵⾦属避险需求⾛ 强，⽇内⾦银价格双双创历史新⾼。美欧关税忧虑持续发酵与地缘⻛险交 织下，短期⻩⾦或震荡偏强运⾏。⽩银受美欧关税担忧、及关键矿产关税 暂缓等多重影响，短期或⾼位震荡、警惕波动率⾼位回落⻛险。 黄金观点： 逻辑：受美欧关税升级担忧提振避险需求，万得数据显示，日内纽约 金价一度触及4698美元/盎司的新高。万得和CME数据显示，近期美国 公布的就业、零售及通胀等数据表现韧性，年内美联储降息预期推迟 至6月；而美欧关税冲突持续发酵，预计金价短线震荡偏强。短期需 关注1月20日美国最高法院对特朗普关税案裁决、1月22日将公布的 11月核心PCE数据和GDP数据、及1月下旬联储新主席提名等。 展望：黄金中长期上涨驱动不改。 白银观点： 逻辑：银价强势上涨，万得数据显示，日内纽约银价涨幅近6%，SHFE 银价涨幅近5%，受特朗普威胁对欧洲八国加征关税、及欧洲反制情 ...

Group 1 - The core viewpoint of the article highlights that international gold and silver prices have reached historical highs due to the U.S. government's imposition of tariffs on certain European countries [1] - On February 1, the U.S. will impose a 10% tariff on goods from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, with the rate increasing to 25% on June 1, contingent on negotiations regarding the U.S. purchase of Greenland [1] - The market is experiencing heightened demand for precious metals as a safe haven due to concerns over transatlantic trade relations [1] Group 2 - Gold futures prices reached $4,698 per ounce and silver futures prices surpassed $94 per ounce on January 18 [1] - As of January 19, London spot gold prices exceeded $4,690 per ounce, and spot silver prices also broke the $94 per ounce mark [1] - Silver prices have increased by 31% since the beginning of 2026, marking the strongest start to a year since 1983 [1] Group 3 - Market analysts predict that gold prices will continue to rise, driven by factors such as investigations into Federal Reserve Chairman Jerome Powell, ongoing trade tensions, and continued gold purchases by multiple central banks [1]

2026年前两周，黄金和白银均创最大新年涨幅。2026年开年以来，白银价格已上涨31%，创下自1983年 以来最强劲新年开局。 市场多数观点认为，黄金价格将持续上涨。期货经纪商富拓外汇分析师表示，美联储主席鲍威尔被调 查、美国持续挑起与贸易伙伴摩擦以及多国央行持续购金等因素，推动金价短期内持续突破历史高位。 （文章来源：新华社） 受美国政府对部分欧洲国家加征关税等影响，国际黄金和白银价格均创历史新高。纽约商品交易所黄金 期货价格18日一度升至每盎司4698美元，白银期货价格突破每盎司94美元。伦敦现货黄金价格当地时间 19日一度涨破每盎司4690美元，现货白银价格突破每盎司94美元。 美国总统特朗普17日在社交媒体上宣布，将从2月1日起对来自丹麦、挪威、瑞典、法国、德国、英国、 荷兰和芬兰的输美商品加征10%关税，并宣称加征关税的税率将从6月1日起提高至25%，直到相关方就 美国"全面、彻底购买格陵兰岛"达成协议。此举引发市场对跨大西洋贸易关系的担忧，推动买入贵金属 的避险需求升温。 ...

Group 1 - Gold prices surged to record highs, with New York futures exceeding $4,670 per ounce, marking a daily increase of 1.62%. Spot gold briefly surpassed $4,690 per ounce, with a daily rise of 2.06%, and was reported at $4,685.351 per ounce, up 1.96% at the time of publication [1] Group 2 - President Donald Trump announced a 10% tariff on goods from eight European countries opposing his Greenland acquisition plan, effective February 1, with an increase to 25% starting in June. This has raised concerns about potential retaliatory measures from Europe, fueling demand for precious metals as a safe haven [3] Group 3 - Chao Hong Ji has adjusted prices for several gold jewelry items, with increases ranging from hundreds to tens of thousands of yuan. A specific pendant saw a price rise of 19,000 yuan, with overall price adjustments between 10% to 20% [4][5] - The price adjustments follow a previous increase in October, and are attributed to rising raw material and related costs, as noted by Zhou Sheng Sheng, which also announced price hikes for its gold jewelry products earlier this month [6]

格隆汇1月16日｜周五，由于美元走强，黄金和白银价格双双下跌，此前美国公布的初请失业金人数弱 于预期。此外，美国总统特朗普对伊朗态度转向温和，也削弱了贵金属的避险需求。分析师表示，此轮 回落与美元指数上涨至99.49水平相关，该水平为自去年12月初以来的最高水平。市场观察人士表示， 尽管黄金和白银近期有所回落，但来自伊朗国内动荡以及与委内瑞拉、格陵兰岛相关的地缘政治风险仍 在支撑贵金属的避险需求，这些不确定性因素令投资者继续关注贵金属作为风险对冲资产。分析师预 计，本周黄金和白银价格将继续保持波动性，主要受美元指数波动影响，同时市场还在等待美国最高法 院有关关税案的重大裁决，这可能进一步影响贵金属价格走势。 ...

Group 1 - The precious metals market continues its strong upward trend after Christmas, with silver reaching an all-time high and gold approaching its historical peak [1][4] - Silver prices surged by 2.2% to $73.44 per ounce, marking the fifth consecutive day of increases, while gold is nearing its historical high of $4525 [1][4] - Geopolitical tensions in Venezuela have heightened demand for precious metals as a safe haven, compounded by the U.S. blockade on oil transport vessels [1][4] Group 2 - Economist Jim Rickards predicts that gold could reach $10,000 and silver could hit $200 by 2026, driven by ongoing demand from central banks and stagnant supply [7][8] - Institutional investor demand, including sovereign wealth funds and endowment funds, is expected to further drive up prices, influenced by geopolitical factors such as the attempt to seize Russian assets [7][8] - The recent surge in silver prices is attributed to a supply-demand imbalance in the physical delivery market, with a significant disparity between paper silver and physical silver [7][8]

Core Viewpoint - The recent fluctuations in gold prices are driven by expectations of interest rate cuts by the Federal Reserve, alongside weak economic data and a declining US dollar, which enhances the appeal of gold as a safe-haven asset [3][4][5]. Market Overview - The gold price is currently trading at $4210.64 per ounce, with a decline of 0.47% from a high of $4235.28 and a low of $4200.09 [1][2]. - The US dollar index is fluctuating around 99.453, reaching a two-week low, which has contributed to the rise in gold prices [1][4]. Economic Indicators - The ISM Manufacturing PMI for November dropped to 48.2, indicating a contraction in manufacturing activity for the second consecutive month, reinforcing expectations for a dovish stance from the Federal Reserve [3][4]. - The market anticipates an 87% probability of a rate cut in the upcoming December meeting, driven by weak economic data and dovish signals from the Fed [3][4]. Political Dynamics - President Trump has indicated potential successors for Fed Chair Powell, with economic advisor Hassett's nomination probability rising from under 40% to 64%, suggesting a shift towards a more accommodative monetary policy [3][4]. Investment Sentiment - Gold is viewed as a traditional store of value amid economic uncertainty, while silver is gaining attention due to its dual role as a financial asset and its industrial applications [4][5]. - The weak dollar provides a direct advantage for gold and silver priced in dollars, stimulating global demand [4][5]. Technical Analysis - The daily chart shows a small doji candlestick at high levels, indicating potential consolidation, with key support levels at the 5-day and 10-day moving averages around $4200 and $4150 respectively [6][7]. - A break below the 5-day moving average could trigger a significant pullback, while a sustained upward trend is expected if gold prices can surpass the $4230 resistance level [6][7]. Long-term Outlook - Major investment banks are optimistic about gold's long-term prospects, with predictions of significant price increases over the next few years. Bank of America sets a target of $5000 per ounce by 2026, while Goldman Sachs and Deutsche Bank forecast prices of $4900 and $4950 respectively [8].

Core Viewpoint - The precious metals market experienced a significant downturn after a period of record highs, with gold and silver prices plummeting to their largest daily declines in years, raising concerns among investors about future price movements [1][4][7]. Price Movements - Gold reached a historical intraday high before falling approximately 6.3% to around $4,082, marking its largest daily drop since April 2013, with a closing price of $4,130.41 per ounce [1]. - Silver also saw a dramatic decline, dropping nearly 8.7% to below $47.90, the largest intraday drop since February 2021, with a closing price of $48.7050 per ounce [4]. Market Influences - Multiple factors contributed to the pressure on precious metal prices, including expectations of easing trade tensions, a strengthening dollar, and overbought technical indicators, which diminished the safe-haven demand for these metals [7][10]. - The ongoing U.S. government shutdown has led to a lack of critical positioning data, increasing uncertainty in the market and potentially allowing speculative long positions to accumulate excessively [10][12]. Technical Analysis - The relative strength index for gold indicated that prices had entered an overbought territory, prompting concerns about potential corrections and profit-taking among traders [8][11]. - Analysts noted that the absence of significant media catalysts on the day of the price drop suggested that the market was due for a correction due to extreme overbought conditions [11][12]. Investor Sentiment - Despite the sharp declines, some analysts believe that the fundamental factors supporting precious metals have not changed, and potential buying interest may limit the extent of any corrections [7][13]. - The recent lack of significant physical demand from India and the absence of key buyers in the Shanghai Gold Exchange were highlighted as notable factors contributing to the market's weakness [12][16]. Future Outlook - Analysts from various firms expressed differing views on the future of gold and silver prices, with some maintaining a bullish outlook while acknowledging the potential for a consolidation phase [10][13]. - The global largest gold ETF, GLD, saw unprecedented trading volumes, indicating heightened interest and activity in the market despite the recent downturn [14].