最近，美国总统特朗普在"北约禁买俄能源"这事儿上栽了个大跟头。 当地时间10月2日，土耳其能源部长巴伊拉克塔尔明明白白表了态：安卡拉肯定会接着从俄罗斯进口天然气，还说这是"企业根据设备技术适配性做的商业决 定"。 这位总说自己是"谈判高手"的领导人，本来觉得能逼着盟友们切断从俄罗斯买能源的路子，断了俄罗斯的收入，结果到了土耳其这儿，直接碰了一鼻子灰。 这一巴掌打得够响，不光把美国盟友圈子里的裂缝露了出来，连特朗普想靠断能源搞制裁、推进乌克兰和平进程的小算盘，也彻底碎了。 先说特朗普怎么给北约盟友施压的。这次他让北约国家别买俄能源，用的还是老一套"给好处加吓唬"的法子。 9月25号的时候，他跟土耳其总统埃尔多安见了面，见面时特意提了一嘴"就算咱俩都没当选总统，也一直保持联系"，想靠这份私人交情拉近距离，还暗示 说可以恢复F-35战机的交易，算是给土耳其的"甜头"。 这种把国家之间的事儿跟个人关系绑在一起的说法，正是特朗普搞外交的典型风格。 可埃尔多安根本不吃这一套——会谈的时候，他自始至终没松口说要停了买俄天然气的事，反而会后没几天就签了《战略民用核能合作备忘录》，明摆着要 用长期的技术合作，扛住美国的压力。 ...

十届四中全会将于10月20日 238 | 财政部、商务部将开展消费新 业态新模式新场景试点工作 Finance al 每周金融评论 .. Financial Weekly 每周金融评论 | 目录 CONTENTS 热点 美国政府"停摆"，美联储进一步降息预期升温 01 2025年9月29日，特朗普政府与国会就拨款法案协商未果，美联储警告停摆将冲击经济；9月30日参议院两党领袖公开辩论未达 共识，最终于10月1日0时1分触发近七年首次停摆。停摆期间美国国家公园、签证办理等非必要服务中断，核心部门如军队、执 法机构维持运转。10月3日，美参议院否决两党临时拨款法案，政府停摆持续。 《清华金融评论》观察 在美国政府"停摆"的背景下，特朗普政府正酝酿推进第二轮大规模联邦雇员裁减计划，这可能会使得美国就业市场面临进一步恶 化风险。在缺乏基准经济数据的情况下，美联储或将面临更大的降息压力。目前来看，市场几乎完全定价（概率超过95%）美联 储将在10月的议息会议上降息，同时12月份降息的概率也定价在86%左右。（观察员/王茅） 热点聚焦 FOCUS 十四年代五日本日本 《中也》 甘女因壮 。 UA PBCSF 2025年第 ...

Core Viewpoint - International gold prices surged, breaking the $3900 per ounce mark and reaching a new historical high, with significant increases observed in domestic gold jewelry prices during the holiday period [1][10]. Group 1: Gold Market Performance - On October 6, spot gold maintained a strong performance, surpassing $3900 per ounce, marking a new historical high, and achieving this milestone less than ten days after breaking the $3800 threshold [1][10]. - COMEX gold prices reached a peak of $3945.2, with a recent average price of $3925.0, reflecting a daily increase of 0.75% [2]. Group 2: Domestic Gold Jewelry Prices - During the holiday period, domestic gold jewelry prices continued to rise, with several brands, including Chow Sang Sang and Chow Tai Fook, reporting prices exceeding 1100 yuan per gram [4][5]. - Specific prices for gold bars and jewelry from various brands were noted, with prices for gold bars ranging from 979 yuan to 1119 yuan [5]. Group 3: Consumer Behavior and Market Trends - The Shenzhen Shui Bei gold jewelry market experienced a surge in consumer traffic, particularly for wedding-related products, with reports indicating that foot traffic doubled during the holiday [6][8]. - Traditional wedding gold items, such as dragon and phoenix bangles and wedding rings, remained popular, while 5D craft gold gained traction among younger consumers due to its lightweight and fashionable design [10]. Group 4: Factors Influencing Gold Prices - The recent rise in gold prices is attributed to increased concerns over U.S. government shutdowns, which have heightened fears regarding fiscal stability and pressured the dollar [10]. - Key drivers for gold prices include central bank purchases, real interest rates, inflation hedging demand, and the need to hedge against economic and political uncertainties [10]. - Forecasts suggest that gold may continue to rise, with predictions of prices reaching $4000 per ounce by mid-2026 and $4300 per ounce by the end of 2026, as indicated by Goldman Sachs [10].

先看那边火得冒烟的美债。避险是硬逻辑。特朗普关税大棒把全球供应链搅得天翻地覆，股市跟着忽上 忽下，机构干脆把钱从高风险资产里撤出来，躲进被视作"保险柜"的美国国债。 更诱人的是利率。美联储在9月把基准利率再压25个基点，落到4.00%-4.25%。利率往下，债券价格就 往上，提前埋伏的玩家眼看账面浮盈，乐得合不拢嘴，这也是他们提前抢筹的底气。 此外，美元依旧是全球清算"通用钥匙"。美国资本市场盘子大、交易顺、规则透明，就算华盛顿偶尔闹 情绪，资金还是爱去。另外，持仓榜单上的老熟人也在加码：日本握着1.151万亿美元继续坐头把交 椅，7月还多添了38亿美元；英国账户里接近9000亿美元，单月增幅大约5%，其中不少是全球基金经伦 敦转的票据。 你抛美债，我抛中债！外资陆续减持中国债，更多资金流向美国？ 说来有意思，2025年上半年债券圈像打了鸡血：一边是美债价格越走越高，外资持仓在7月份冲到9.159 万亿美元创纪录；另一边，外资三个月甩出3700亿元人民币的中债。冷热交替，让"资金是不是全往美 国跑"成了茶余话题。 与此同时，中国自己也在调仓。7月份官方减持257亿美元美债，仓位降至7307亿美元，创下2009 ...

龙凤镯、喜字链、对戒等传统婚庆金饰依旧是销售主流，而随着金价持续攀升，5D工艺黄金凭借其轻量化、立体感的特色和时尚设计，正成为婚庆市场 的新宠，尤其受到年轻消费者的青睐。 据智通财经报道， 此次金价上涨的主要原因是，美国政府关门加剧了人们对财政的担忧，并给美元带来了压力。 天风证券认为黄金价格驱动因素主要有四项：央行等官方机构购买、实际利率、对冲通胀的需求、对冲经济和政治不确定性的需求。近几年，由于全球地 缘冲突和政治政策风险上升，黄金作为"对冲不确定性"的工具，以及央行"去美元化"和黄金购买，成为推动价格走势的重要因素。 "展望今明两年，我们认为黄金或仍有上涨空间，尤其是利率和避险对金价的推动力。"天风证券在一份黄金专题报告中指出。高盛此前表示，对2026年中 旬4000美元/盎司及2026年12月4300美元/盎司的金价预测的上行风险已进一步加剧。 假期期间，国内部分黄金珠宝品牌的金饰价格延续上涨态势， 多家品牌金店的足金首饰价格均突破了1100元/克。 作为国内黄金珠宝产业的重要集散地， 深圳水贝黄金珠宝市场在假期迎来一轮婚庆消费热潮。 10月6日，国际金价在亚洲交易时段延续涨势，纽商所国际黄金期货价格 ...

普京最近在关于"去美元化"的问题上突然改变了立场，这让很多人感到意外。在"瓦尔代"国际辩论俱乐部会议上，普京公开表示，俄罗斯并没有主动推动去 美元化，而是因为美国禁止使用美元，所以才选择用本币结算。这番话让不少人疑惑：普京不就是曾在金砖峰会上主张用新货币替代美元的吗？这次的转变 到底是临时退缩，还是另有深意？ 事实上，普京的这一转变很可能是因为特朗普的强硬立场。特朗普一向对去美元化十分敏感，曾明确表示，任何试图替代美元的行为都触碰到美国的底线。 如果有国家敢挑战美元的地位，他就会加征100%的关税，直接把这些国家排除在美国市场之外。今年7月，巴西总统卢拉在金砖峰会上提出减少美元依赖的 建议，特朗普立刻回应，对巴西加征了50%的关税，并强调削弱美元的地位相当于美国在全球的失败。他表明，作为总统，他绝不会允许这一趋势发展下 去。 与此同时，美国已经对俄罗斯实施了严厉的金融制裁，冻结了其海外资产，排除在SWIFT系统之外，并限制了美元交易。在这样的制裁压力下，俄罗斯很难 进行国际贸易，尤其是在购买医疗设备和航空零件时，许多供应商只认美元，手里没有美元，交易就无法顺利进行。 虽然俄罗斯与中国之间的本币结算率很高，人民 ...

【导读】港股三大指数低开，科指跌超1%，黄金股普涨！ 中国基金报记者 张舟 10月6日，港股三大指数开盘走弱，恒生指数开跌0.5%，恒生科技指数开跌1.1%。 截至发稿，恒生指数跌0.24%，恒生科技指数跌1%。 | 恒生指数 | 恒生国企 | 恒生科技 | | --- | --- | --- | | 27077.10 | 9615.32 | 6556.51 | | -63.82 -0.24% | -43.02 -0.45% | -66.34 -1.00% | | 恒指期货 | 港股通50 | 恒生生物科技 | | 27117 | 4053.17 | 17844.56 | | -64 -0.24% | -7.52 -0.19% | -160.94 -0.89% | | < W | 恒生科技(HSTECH) | | | | | | --- | --- | --- | --- | --- | --- | | | 10-06 09:37:40 | | | | | | 6567.31 | 成交额 | 昨收 | 6622.85 | | 47.1亿 | | -55.54 | -0.84% | 今开 | 6548.80 | ...

中国基金报记者 张舟 10月6日，港股三大指数开盘走弱，恒生指数开跌0.5%，恒生科技指数开跌1.1%。 截至发稿，恒生指数跌0.24%，恒生科技指数跌1%。 港股汽车股开盘走弱，小鹏汽车一度跌4%，理想汽车跌近3%，蔚来汽车跌超1%。 | 序号 名称 | | 现价 | 涨跌幅 ▲ | 年初至今 | | --- | --- | --- | --- | --- | | 1 | 理想汽车-W | 96.750 | -2.86% | 2.98% | | 2 | 庆铃汽车股份 | 0.830 | -2.35% | 59.62% | | 3 | 小鹏汽车-W | 90.200 | -2.33% | 93.35% | | ব | 吉利汽车 | 18.960 | -2.12% | 30.39% | | 5 | 零跑汽车 | 66.800 | -1.55% | 105.22% | | 6 | 广汽集团 | 3.330 | -1.19% | -1.57% | | 7 | 蔚来-SW | 59.300 | -1.00% | 70.40% | | 8 | 长城汽车 | 16.830 | -1.00% | 28.01% | | ರಿ ...

【导读】港股三大指数低开，科指跌超1%，黄金股普涨！ 10月6日，港股三大指数开盘走弱，恒生指数开跌0.5%，恒生科技指数开跌1.1%。 截至发稿，恒生指数跌0.24%，恒生科技指数跌1%。 | 恒生指数 | 恒生国企 | 恒生科技 | | --- | --- | --- | | 27077.10 | 9615.32 | 6556.51 | | -63.82 -0.24% | -43.02 -0.45% | -66.34 -1.00% | | 恒指期货 | 港股通50 | 恒生生物科技 | | 27117 | 4053.17 | 17844.56 | | -64 -0.24% | -7.52 -0.19% | -160.94 -0.89% | 板块上来看，有色金属板块领涨，钴金属、涉矿、贵金属等概念个股涨幅居前；电气设备、日常消费零售、半导体等板块震荡调整。 今日现货黄金开盘快速走高，向上触及3920美元/盎司，日内涨0.87%，续创历史新高。 华侨银行环球经济与市场研究主管Heng Koon How表示，随着全球零售投资需求持续升温，黄金的涨势毫无放缓迹象。由去美元化担忧推动的强劲避险资 金流入，正支撑着黄 ...

Group 1 - The Federal Reserve unexpectedly cut interest rates by 25 basis points in September, leading to a 0.5% drop in the US dollar index, while foreign investors reduced their holdings of US Treasuries from 35% to 23%, with China selling off $25.7 billion [1] - 95% of global central banks are increasing their gold reserves, with spot gold prices rising to $3,840 per ounce, a 41% increase over the year, indicating a shift towards de-dollarization [1] - The share of the US dollar in global foreign exchange reserves has fallen to 38%, while the share of BRICS countries' local currency settlements has increased to 4.6%, highlighting a significant trend in currency diversification [1] Group 2 - Silver is being recognized as an undervalued asset, with Russia investing $535 million in silver and Saudi Arabia entering the silver trust market, while the US Mint has faced a six-year shortage of silver coins, with a gap of 117.6 million ounces this year [3] - Silver's dual attributes as a safe-haven asset and its industrial demand, particularly in solar panels and electric vehicles, are driving its price up to $44.98, surpassing gold's price increase by 8% [3] - Investors are advised to focus on physical silver bars rather than commemorative coins due to lower premiums, making it more accessible for ordinary investors [3] Group 3 - The internationalization of the Renminbi (RMB) is gaining momentum, with Shanghai piloting digital RMB for cross-border payments and supporting 400 export-oriented enterprises in sectors like renewable energy and high-end manufacturing [5] - Two types of companies are expected to benefit: cross-border financial service providers involved in digital currency projects and high-end manufacturing firms that can save on exchange rate costs by using RMB for transactions [5] - An investor reported a 22% gain from a cross-border payment-themed ETF, reflecting the positive outlook on RMB internationalization [5] Group 4 - Commodity funds are expected to rise as the US dollar depreciates, with ordinary investors advised to buy corresponding funds instead of directly trading futures [7] - For example, copper funds are anticipated to perform well due to high demand from the electric vehicle and power grid sectors, while oil funds can hedge against dollar depreciation [7] - A diversified investment strategy is recommended, allocating portions to gold, silver, and RMB internationalization funds to mitigate risks [7] Group 5 - Long-term holding of silver and commodities is advised, as the process of de-dollarization is gradual, and short-term volatility should not deter investors from the long-term trend [8] - The trend of de-dollarization is difficult to reverse once established, and assets like gold, silver, and RMB-related stocks can provide dual protection against dollar depreciation and benefit from industry growth [8] - The current market presents an opportunity for investors to diversify beyond gold, as many are still focused solely on it, potentially missing out on other valuable assets [8]