•财信期货：市场情绪趋于平稳后黄金依以逢低做多为主 •新湖期货：关注伦敦金4000美元以及伦银48美元的关键技术关口 •东吴期货：投机性多头头寸可能已过度累积，进一步放大了此次贵金属回调幅度 •盛宝银行：金银正在经历早该出现的调整，但大幅抛售后仍被低估 •MKS PAMP：经历了周二的抛售后，贵金属可能需要币预期更长的时间才能重新站稳脚跟 盛宝银行大宗商品策略主管Ole Hansen表示，黄金和白银价格正在经历早就应该出现的调整，白银的大 幅下跌突显了这两种金属之间的流动性缺口，但两者在投资组合中的持有量仍然不足，反弹背后的结构 性驱动因素仍然完好无损。汉森补充称，在经历了年内迄今的大幅上涨之后，金银这两种金属都应该进 行调整，以防止形成泡沫，但从长期来看，对2026年黄金和白银走势仍持乐观态度。"推动今年贵金属 历史性上涨的事态发展并没有消失，并且可能会继续为不再超买但投资组合中仍不足的金属提供支 撑。"汉森表示。 MKS PAMP研究与金属策略主管Nicky Shiels在其最新报告中指出，黄金市场仅用30周时间就从每盎司 3000美元反弹至4000美元，远快于之前1000美元涨幅所用的周期。在她看来，尽 ...

换资前言： 市场瞬息万变，顺势而为，才是王道，趋势来了就是干，不要逆势操作，免得难受煎熬。交易切记不要 意气用事，市场专治各种不服，所以一定不要扛单，相信很多人都深有体会，越抗越慌，浮亏不断放 大，搞的吃不好睡不好，还白白错过很多机会，如果你也有这些烦恼，那不妨跟上金晟富的节奏来试 试，看看能否让你豁然开朗。如果你需要帮助，本人金晟富会一直在这儿，但如果你连手都不伸，我又 怎么能帮到你呢？ 近期有哪些消息面影响黄金原油走势？后市黄金多空该如何研判？ 周四（10月23日）亚市早盘，现货黄金窄幅震荡，目前交投于4085美元/盎司附近。周三（10月22日） 现货黄金盘中一度下跌近3%，触及近两周低点4004.46美元/盎司，延续了前一日5.3%的罕见单日跌 幅。然而，多重因素吸引逢低买盘帮助金价守住4000关口，并一度回升至4160附近，纽约时段再度下探 4000关口附近支撑，但再度在逢低买盘的支撑下反弹，尾盘金价回升至4098.29美元/盎司，跌幅收窄至 0.64%。这一走势反映了市场在关键经济数据发布前的谨慎情绪。今年以来，黄金表现依然抢眼，受地 缘政治紧张局势、经济不确定性、美国降息预期以及ETF强劲流入的推 ...

Core Points - The German Ministry of Finance announced that it will cover the salaries of German employees working for the U.S. military in Germany if a U.S. government shutdown prevents salary payments [1][3] - The German public service union expressed concerns that the current U.S. government may not fulfill its obligations to pay local employees at overseas bases during a shutdown, unlike previous instances [3] - An agreement has been reached between the German federal government and the state of Rhineland-Palatinate, where U.S. military bases are located, to provide salary advances in case of U.S. default [3] - The advanced salaries will be reimbursed once the U.S. government resumes operations, and this action is described as a gesture of solidarity with the U.S. military and its employees [3]

Group 1 - The U.S. federal government has entered its 22nd day of a shutdown, marking the second-longest shutdown in history [1] - The Senate has rejected a temporary budget proposal for the 12th time, with a vote of 54 in favor and 46 against, failing to reach the required 60 votes [1] - The core disagreement between the two parties revolves around healthcare budget provisions, with Democrats insisting on including healthcare-related clauses in the temporary budget [1] Group 2 - Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries requested a meeting with President Trump to discuss the budget, which Trump declined, stating he would only meet after the government reopens [1] - Senator Merkley delivered a speech lasting 22 hours and 37 minutes in the Senate, expressing dissatisfaction with the Trump administration and Republican leadership, setting a record for the fourth-longest speech in Senate history [2]

共和党虽以53-47席位占据参院多数，但任何拨款案需60票才能过关。此前众院已通过的临时拨款决 议，在参院已11次表决失败。 参院多数党领袖图恩在周二白宫会晤特朗普后表示："我们已经谈判了，我不知道还有什么好谈的。这 件事是为了让政府重新开放。我们已经给了他们多个下台阶，但民主党提出的是完全不可接受的条 件。" 本轮停摆则源于参议院民主党拒绝表决由共和党提出的短期拨款法案，理由是法案未包含增加医疗保健 支出等条款。民主党要求延长《平价医疗法案》下的强化税收补贴，否则数百万美国人的医保保费将在 2026年显著上升。 民主党则要求特朗普亲自介入对话，推动解决停摆。当被问及特朗普是否会与民主党沟通时，图恩回应 称："迟早会，但必须先重开政府。" 共和党则指责民主党"以政府为人质"，拒绝在医保问题上谈判。 智通财经APP获悉，美国政府周三进入停摆第22天，为史上第二长时间，且仍看不到结束迹象。值得注 意的是，美国历史上持续时间最长的两次政府停摆均发生在特朗普任内。 上周四，共和党提出的仅军费拨款案也在程序性投票中被否。 美国史上最长的政府停摆发生在2018年12月，持续近5周，当时源于特朗普要求为其移民政策拨款引发 ...

北京时间10月21日晚间 国际贵金属市场遭遇剧烈震荡 现货黄金价格单日暴跌5.3% 创下2020年8月以来最大跌幅 白银价格也同步下挫近7%。 今天 "金价银价急跌"话题冲上热搜 在社交媒体上，不少买入黄金的网友心态"崩"了。 这场突如其来的暴跌背后 隐藏着怎样的市场逻辑？ 未来走势如何？ 预计黄金跟白银，长线还是维持上涨态势，一方面是美元在市场上受到信任性的下滑，然后导致避险资金主要流向了黄金资产。另外一方面，是美联储降 息路径的确定性，使得流动性预期向好。白银，它的宏观面影响是跟黄金是类似的，但是白银本身也是一个工业金属，所以说它的基本面也会影响它的走 势，长期以来全球矿山资本支出的减少，使得白银产量在近几年并有并没有上升，而全球光伏产业的扩张，也使得白银的赤字也是愈发严重，进而推升了 白银价格。但是后续仍需要关注美国政府停摆终止的节点，也或许会造成白银跟黄金的一个小幅的回调，但长线仍然是看涨为主。 目前黄金价格的长期上涨趋势没有发生改变。这个阶段性的环境价格下跌主要是市场情绪方面影响，引发的技术性回调。市场风险点在于当下阶段黄金仍 处于绝对高位，投资者在做黄金投资时做好风险管理，避免因黄金的波动性风险造 ...

1. Report Industry Investment Rating - Not provided in the content 2. Core Viewpoints of the Report - The precious metals market has recently experienced a significant overall correction due to the concentrated release of long - position profit - taking sentiment at high levels and the weakening of market risk - aversion sentiment. The short - term trend of gold and silver is expected to be mainly wide - range fluctuations, with attention focused on the US CPI data released on Friday. The support for London gold is at the $4000 mark, but there is a need to guard against subsequent correction risks. The attention range for the Shanghai Gold 2512 contract is 900 - 1000 yuan/gram, and for the Shanghai Silver 2512 contract is 11000 - 11500 yuan/kilogram [2] 3. Summary by Relevant Catalogs 3.1 Futures Market - The closing price of the Shanghai Gold main contract is 952.56 yuan/gram, down 41.5 yuan; the closing price of the Shanghai Silver main contract is 11404 yuan/kilogram, down 401 yuan. - The main contract open interest of Shanghai Gold is 192,803 lots, down 12,307 lots; that of Shanghai Silver is 386,233 lots, down 38,321 lots. - The net position of the top 20 in the Shanghai Gold main contract is 110,696 lots, down 9432 lots; that of Shanghai Silver is 97,632 lots, up 6359 lots. - The warehouse receipt quantity of gold is 87,015 kilograms, up 450 kilograms; that of silver is 691,688 kilograms, down 57,674 kilograms [2] 3.2 Spot Market - The Shanghai Non - ferrous Metals Network gold spot price is 943.5 yuan/gram, down 49.4 yuan; the silver spot price is 11,303 yuan/kilogram, down 548 yuan. - The basis of the Shanghai Gold main contract is - 9.06 yuan/gram, down 7.9 yuan; that of the Shanghai Silver main contract is - 101 yuan/kilogram, down 147 yuan [2] 3.3 Supply and Demand Situation - The gold ETF holdings are 1058.66 tons, unchanged; the silver ETF holdings are 15,676.64 tons, down 93.13 tons. - The non - commercial net position of gold in CFTC is 266,749 contracts, up 339 contracts; that of silver is 52,276 contracts, up 738 contracts. - The total quarterly supply of gold is 1313.01 tons, up 54.84 tons; the total annual supply of silver is 987.8 million troy ounces, down 21.4 million troy ounces. - The total quarterly demand for gold is 1313.01 tons, up 54.83 tons; the global annual demand for silver is 1195 million ounces, down 47.4 million ounces [2] 3.4 Options Market - The 20 - day historical volatility of gold is 28.14%, up 0.32%; the 40 - day historical volatility is 21.33%, up 0.5%. - The implied volatility of at - the - money call options for gold is 34.39%, down 0.58%; that of at - the - money put options is 34.39%, down 0.59% [2] 3.5 Industry News - UK inflation "unexpectedly remained unchanged", leading the market to increase bets on interest - rate cuts. The September CPI year - on - year was 3.8%, the same as the previous month, lower than the expected 4.0%. - European leaders issued a joint statement supporting negotiations to promote a cease - fire in the Russia - Ukraine conflict, and agreed with Trump's proposal of an immediate cease - fire and using the current contact line as the starting point for negotiations. - Recently, a large amount of silver has flowed from the US and China into the London spot market, alleviating the liquidity crunch in the world's largest over - the - counter precious metals trading center. The one - month silver lending rate in London has dropped from a record high of 35% on October 10th to 19%, confirming that the tight silver spot situation has been alleviated [2]

在社交媒体上，不少买入黄金的网友心态"崩"了。 来源：北京商报 对于黄金未来走势，各机构态度不一。 花旗银行一改此前看涨表态，表示短期内看跌黄金，设定0—3个月目标价为4000美元/盎司。花旗银行 预计，美国政府"停摆"结束及中美协议公布可能推动黄金在未来2—3周内进入震荡整理阶段。 一夜之间，黄金从避险资产变成了风险资产。 当地时间21日，受地缘政治、投资者获利止盈等多重因素影响，黄金、白银遭遇市场广泛抛售。当天， 国际现货黄金价格一度下跌超6%，跌破每盎司4100美元，创下12年来最大单日跌幅；国际现货白银价 格一度下跌超8%，跌破每盎司48美元，创下2021年以来最大单日跌幅。 据大河报，一名福建网友发视频称："在暴跌之前，我订了1公斤的黄金板料和15公斤的白银板料，1个 小时至少亏损了5万元。" 受此影响，国内品牌连锁金店也调整了今日金饰金条的挂牌价格。其中亚一金店、老庙黄金金饰报价 1211元/克，较前一日下跌83元/克；老凤祥报1229元/克，较前一日下跌61元/克；周大福、六福、潮宏 基、周大生报1235元/克，较前一日下跌57元/克。 对于价格的波动，周大福方面表示，集团设有机制密切监测金价波 ...

编辑易向荃制作礼牧周 10月21日，美国华盛顿，特朗普在白宫为共和党参议员举行的午餐会上表示，在白宫修建宴会厅的噪 音"对我来说如同音乐"。 值班编辑王丹妮 20日特朗普宣布白宫豪华宴会厅已破土动工，东翼部分拆除工作已开始，包含第一夫人希拉里在内的民 主党人指责特朗普不尊重总统官邸。 经常有读者朋友错过推送 报道称新建宴会厅耗资约2.5亿美元，此次"破土动工"恰逢美国政府停摆，特朗普称该工程不花纳税人 的钱。 ...

10月21日，美国华盛顿，特朗普在白宫为共和党参议员举行的午餐会上表示，在白宫修建宴会厅的噪 音"对我来说如同音乐"。20日特朗普宣布白宫豪华宴会厅已破土动工，东翼部分拆除工作已开始，包含 第一夫人希拉里在内的民主党人指责特朗普不尊重总统官邸。报道称新建宴会厅耗资约2.5亿美元，此 次"破土动工"恰逢美国政府停摆，特朗普称该工程不花纳税人的钱。 ...