4月22日，站稳3400美元/盎司的国际金价再度冲高，盘中触及3509.9美元/盎司。而在此后，国际金价就快速回落，目前已接连失守3400美元和3500美元两个 整数关口。 东方金诚研究发展部副总监瞿瑞对央广财经记者表示，国际金价突然回调，一方面源于金价上行至历史高位区间，市场恐高情绪可能引发部分资金获利了 结，进而导致金价调整；另一方面则因中美贸易谈判出现边际缓和迹象，加之美国国内政策博弈也有所缓和，带动美元指数修复，对金价形成一定压制。 展望后市，瞿瑞认为，黄金依然处于震荡上行的趋势之中，主要受到市场避险需求支撑、美国"通胀上行"风险加剧、全球央行配置黄金意愿仍较强、美元信 用风险延续、投机和配置资金或将继续交替流入黄金市场等影响，但短期内需要警惕金价高位波动风险。 央广网北京4月23日消息（记者 冯方）近期价格大涨的黄金赚足了市场眼光。而在昨日（4月22日）突破历史新高的国际金价，忽然从3500美元/盎司关口转 向回调。Wind数据显示，截至北京时间4月23日15时，COMEX黄金价格当日已跌超2%，近两个交易日内连续下破3500美元、3400美元两个整数关口，现报 3322.6美元/盎司。 COMEX ...

Core Viewpoint - The market is currently focused on Trump's upcoming announcement of "reciprocal tariffs" and the non-farm employment data for March. There are indications that tariff details may still be adjusted at the last moment, but the market has begun to digest this information. The Hong Kong stock market appears to be desensitized to tariff news [1][2]. Group 1: Market Reactions - Unlike the previous trade war in 2018, where the Hong Kong stock market reacted negatively to tariff news, this time, after the announcement of Trump's new tariff policy, the US stock market declined while the Hang Seng Index performed well. This suggests a decoupling between the Hong Kong and US markets, indicating that the Hong Kong market has shown signs of desensitization [1][3][5]. - The upcoming implementation of "reciprocal tariffs" may serve as a new observation point for the market. Previously, the US market was highly concerned about tariffs, leading to negative performance. The question now is whether the market, having digested the tariff policy for some time, will see new variables emerge to gradually dominate market sentiment [5][6]. Group 2: Economic Indicators - The US dollar index has recently shown signs of bottoming out, while US Treasury yields have continued to decline, reaching near-year lows. This divergence suggests that the market still believes the tariff policy may lead to a "strong dollar," but rising risk aversion in the stock market has made bonds a safe haven [2][5]. - If the dollar strengthens, the actual effects of the tariffs may be partially offset, as imported goods are ultimately priced in dollars. Additionally, rising economic uncertainty may lead to more funds choosing US Treasuries as a safe harbor, potentially providing both capital gains and currency gains [5][6].