21世纪经济报道记者 唐婧 全球资产价格上涨支撑外储 11月7日，国家外汇管理局统计数据显示，截至2025年10月末，我国外汇储备规模为33433亿美元，较9月末上升47亿美元，升幅 为0.14%。这是我国外汇储备连续三月站上3.3万亿美元大关，创2015年12月以来最高。黄金储备方面，央行连续第12个月增持 黄金。同日，央行公布数据显示，10月末黄金储备报7409万盎司（约2304.457吨），环比增加3万盎司（约0.93吨）。 国家外汇局表示，2025年10月，受主要经济体货币政策及预期、宏观经济数据等因素影响，美元指数上涨，全球金融资产价格 总体上涨。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经济基础稳、优势多、韧性强、潜能大， 长期向好的支撑条件和基本趋势没有变，有利于外汇储备规模保持基本稳定。 东方金诚首席宏观分析师王青告诉记者，汇率和资产价格变化带来的估值效应形成对冲，是10月外汇储备小幅回升的主因。一 方面，10月美元指数上涨1.9%。这会导致我国外汇储备中非美元资产贬值，导致外汇储备规模下降。另一方面，10月以日经225 指数为代表的全球主要股指普遍出现较大幅度上涨，其中 ...

东方金诚首席宏观分析师王青告诉记者，汇率和资产价格变化带来的估值效应形成对冲，是10月外汇储备小幅回升的主因。一 方面，10月美元指数上涨1.9%。这会导致我国外汇储备中非美元资产贬值，导致外汇储备规模下降。另一方面，10月以日经225 指数为代表的全球主要股指普遍出现较大幅度上涨，其中日经225指数大幅上涨16.6%，美债收益率走低，美债价格上扬，共同 带动我国外储投资的金融资产估值增加。 全球资产价格上涨支撑外储 综合受访人士观点来看，汇率折算和资产价格变化是10月外汇储备继续回升的原因，且资产价格变化的影响更为显著。一般而 言，只要当月美元指数出现明显上升，多个国家的外汇储备通常都会因非美资产折算成美元后的金额减少，出现环比下降的状 况，但今年10月却打破了这一传统规律，原因是资产价格变化形成了对冲。 "在资产价格方面，全球股债双强对外储形成了强劲支撑。"温彬表示，10月份，美联储降息推动以美元标价的已对冲全球债券 指数上涨0.8%，美国标普500指数上涨2.3%。日本财政政策蓄势待发，刺激日经指数上涨16.6%，创历史新高。欧元区经济缓慢 修复，欧洲斯托克指数上涨2.6%。 中银证券全球首席经济学家管 ...

北京商报讯(记者刘四红)最新一期外储数据公布。11月7日，据人民银行官网公布的官方储备资产，截至2025年10月末，我国外汇储备规模为 33433亿美元，较9月末上升47亿美元，升幅为0.14%。另外，10月末黄金储备报7409万盎司(约2304.457吨)，环比增加3万盎司(约0.93吨)，为连续 第12个月增持黄金。 东方金诚首席宏观分析师王青同样称，10月末外储规模变化不大，主要是当月美元指数上行与全球金融资产价格上涨形成对冲效应，带动外储规 模微幅上升。10月末我国外储规模已连续三个月升至3.3万亿美元之上，创2015年11月以来最高，较上年末也大幅增加1409.9亿美元。背后主要是 受年初以来美元大幅贬值、美债收益率显著下行，以及全球主要股指上涨带动。 "考虑到当前外储规模已处于3.3万亿美元以上的偏高水平，且当月人民银行增持黄金规模有限，不排除10月人民银行实施一定规模的外汇净卖出 的可能，这能够将外储规模控制在适度水平区间。"王青说道。按不同标准测算，当前我国略高于3万亿美元的外储规模都处于适度充裕状态。综 合考虑各方面因素，未来外储规模有望保持基本稳定。在外部环境波动加大的背景下，适度充裕的外 ...

Core Insights - As of October 2025, China's foreign exchange reserves reached $3.34 trillion, an increase of $4.7 billion from September, reflecting a growth rate of 0.14% [1] - The rise in foreign exchange reserves is attributed to the Federal Reserve's interest rate cut, improved China-U.S. trade relations, and overall global asset price increases [1][2] - The U.S. dollar index rose by 2.1% to 99.8 in October, despite the Fed's rate cut, due to stronger-than-expected U.S. economic growth and depreciation of non-U.S. currencies [1] Foreign Exchange Reserves - The increase in foreign exchange reserves is influenced by a combination of asset price changes and exchange rate fluctuations, with a notable rise of $4.7 billion in October [1] - The Federal Reserve's decision to lower the federal funds rate by 25 basis points to a target range of 3.75% to 4.00% has contributed to this increase [1][2] Asset Prices - In October, the Fed's rate cut led to a 0.8% increase in the dollar-denominated global bond index and a 2.3% rise in the S&P 500 index [2] - The Nikkei index surged by 16.6%, reaching a historical high, driven by new fiscal policies under the leadership of a new prime minister [2] - The European Stoxx index rose by 2.6% as the Eurozone economy showed signs of gradual recovery [2] Gold Reserves - As of the end of October, China's gold reserves increased by 30,000 ounces (approximately 0.93 tons) to 74.09 million ounces, marking the 12th consecutive month of gold accumulation [2] - The global demand for gold among central banks remains high, with gold surpassing the euro as the second-largest reserve asset [2][3] - Increasing gold reserves helps optimize China's foreign exchange reserve structure and mitigate risks associated with high dollar asset exposure [3]

Core Insights - As of October 2025, China's foreign exchange reserves reached $3.34 trillion, an increase of $4.7 billion from September, reflecting a growth rate of 0.14% [1] - The rise in foreign exchange reserves is attributed to the Federal Reserve's interest rate cut and improved China-U.S. trade relations, which have led to an overall increase in global asset prices [1] - The U.S. dollar index rose by 2.1% to 99.8 in October, despite the Fed's rate cut, due to stronger-than-expected U.S. economic growth and a decline in non-U.S. currencies [1] Asset Prices - In October, the Fed's rate cut led to a 0.8% increase in the dollar-denominated global bond index and a 2.3% rise in the S&P 500 index [2] - The Nikkei index surged by 16.6%, reaching a historical high, driven by new fiscal policies [2] - The European Stoxx index increased by 2.6% as the Eurozone economy showed signs of gradual recovery [2] Economic Policies - The recent "14th Five-Year Plan" emphasizes "expanding high-level opening-up," indicating a commitment to reform and development through openness [2] - The plan aims to diversify markets, optimize trade, and cultivate new growth points, ensuring that exports stabilize cross-border capital flows [2] - The strategy includes facilitating foreign investment and guiding the cross-border layout of industrial and supply chains, which supports the balance of international payments [2] Gold Reserves - By the end of October, China's gold reserves increased by 30,000 ounces (approximately 0.93 tons) to 74.09 million ounces, marking the 12th consecutive month of gold accumulation [2] - Global demand for gold from central banks remains high, with gold surpassing the euro as the second-largest reserve asset [2] - Increasing gold reserves helps optimize China's foreign exchange reserve structure and mitigate risks associated with a high proportion of dollar assets [3]

| 项目 Item | 2025.01 | | 2025.02 | | 2025.03 | | 2025.04 | | 2025.05 | | 2025.06 | | 2025.07 | | 2025.08 | | 2025.09 | | 2025.10 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 亿美元 | (ZSDR | 亿基元 | (ZSDR | 亿美元 | (ZSDR | 亿美元 | IZSDR | 亿美元 | 12SDR | 亿美元 | 亿SDR | 亿美元 | (ZSDR | 亿基元 | (ZSDR | 亿基元 | (ZSDR | 亿美元 | IZSDR | | | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 1 ...

Core Viewpoint - China's foreign exchange reserves have increased, with the central bank continuously adding to its gold reserves for the 12th consecutive month [2][4]. Summary by Sections Foreign Exchange Reserves - As of the end of October 2025, China's foreign exchange reserves stood at 33,433.43 billion USD, an increase of approximately 4.7 billion USD from the end of September, marking a rise of 0.14% [2][5]. - The increase in reserves is attributed to factors such as exchange rate adjustments and changes in asset prices [2][6]. Gold Reserves - The central bank's gold reserves reached 7,409 million ounces (approximately 2304.457 tons) by the end of October, with a month-on-month increase of 30,000 ounces (approximately 0.93 tons) [2][4]. - The continuous increase in gold reserves reflects a broader trend among global central banks, particularly in emerging markets, where gold purchases are expected to continue for the next 3 to 5 years [6]. Market Trends - In October, global gold ETFs saw a net inflow of 8.2 billion USD, leading to a 6% increase in total assets under management, reaching a record high of 503 billion USD [6]. - The average daily trading volume of gold reached a historical high of 5,610 billion USD in October, reflecting a 45% increase month-on-month [6]. Gold Price Movements - As of November 7, 2025, spot gold prices reached a peak of 4,010 USD per ounce, with a current price of 4,007.34 USD per ounce, showing a daily increase of 0.76% [8][10]. - Predictions for gold prices have been adjusted, with a baseline forecast now set between 3,700 and 4,100 USD per ounce, and a bullish scenario projected between 4,100 and 4,500 USD [12].

期货日报网讯（记者 杨美）11月7日，国家外汇管理局发布统计数据显示，截至2025年10月末，我国外 汇储备规模为33433亿美元，较9月末上升47亿美元，升幅为0.14%。由此，截至今年10月，我国外储规 模已连续三个月保持在3.3万亿美元上方。 国家外汇管理局表示，2025年10月，受主要经济体货币政策及预期、宏观经济数据等因素影响，美元指 数上涨，全球金融资产价格总体上涨。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上 升。我国经济基础稳、优势多、韧性强、潜能大，长期向好的支撑条件和基本趋势没有变，有利于外汇 储备规模保持基本稳定。 ...

2025年10月，受主要经济体货币政策及预期、宏观经济数据等因素影响，美元指数上涨，全球金融资产 价格总体上涨。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经济基础稳、 优势多、韧性强、潜能大，长期向好的支撑条件和基本趋势没有变，有利于外汇储备规模保持基本稳 定。 中新网11月7日电 据国家外汇管理局微信公众号消息，国家外汇管理局统计数据显示，截至2025年10月 末，我国外汇储备规模为33433亿美元，较9月末上升47亿美元，升幅为0.14%。 ...

用 券中社 12 11月7日，中国央行发布数据，10月末外汇储备3.343万亿美元，9月末为3.339万亿美元。中国10月末 黄金储备报7409万盎司（约2304.457吨），环比增加3万盎司（约0.93吨），为连续第12个月增持黄 金。 券商中国 × 券 中 社 来源：央行 扫码关注券商中国公众号 扫码下载 券 中 社 A P P quanshangcn 舞#t 券中社APP qzs.stcn.com 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 看券商中国 知天下财经 责编： 王璐璐 校 对：姚远 百万用户都在看 突然，直线涨停！三大利好，重磅驱动！ 这个板块，大面积涨停！重磅消息传来！ 盘中，集体爆发！两大利好，彻底引爆！ 官宣！春节连休9天，史上最长！2026年放假安排公布！ 深夜，暴涨！美联储， ...