2026年即将到来，国际黄金市场延续强势格局，现货黄金价格持续高位震荡，刷新历史纪录。在美联储 降息预期升温、地缘政治风险叠加及全球央行增持黄金的背景下，黄金成为年末投资者关注的焦点。然 而，在黄金投资热度攀升之际，专家提醒投资者需警惕市场波动风险，树立理性投资观念。 黄金市场年末表现强劲，多重因素驱动上涨 2025年，国际金价在多重利好因素推动下表现亮眼。美联储进入降息周期，实际利率下行提升黄金吸引 力；同时，全球地缘政治紧张局势加剧，黄金作为传统避险资产的需求显著增加。此外，各国央行持续 增持黄金储备，进一步支撑金价上行。 年末市场流动性收紧，部分投资者选择黄金作为资产配置的"压舱石"，以对冲潜在经济风险。然而，黄 金价格波动性也随之加大，投资者需密切关注市场动态，避免盲目追高。 黄金投资风险不容忽视，专家建议审慎决策 黄金市场机遇与风险并存。投资者在追逐收益的同时，需保持理性，树立长期投资理念，避免因短期波 动而盲目操作。黄金作为资产配置的"稳定器"，其价值在于穿越周期，而非博取短期暴利。 分批建仓：避免一次性投入，可逢低逐步买入，平滑价格波动风险。 关注政策动向：紧密跟踪美联储议息会议及全球经济数据， ...

Group 1: Report Core View - Last week, the gold price continued to rise, with New York gold breaking through $4,500 and Shanghai gold breaking through the 1,000-yuan mark. After the meetings of the US and Japanese central banks ended, market liquidity recovered, and the US dollar index remained weak, which was positive for the gold price. In the long run, although the gold price has broken through the late-October high, its overall performance is far inferior to other precious metals and copper, mainly due to the high short-term market risk appetite and the decline in the safe-haven demand for gold. Before the New Year's Day holiday, continuous attention should be paid to the long-short game at the $4,500 mark of New York gold, and beware of the risk of a high-level pullback before the holiday [5][21] Group 2: Market Review 2.1 Weekly Trend - The report presents a chart of the linkage between the US dollar index and COMEX gold futures closing prices [9] 2.2 Indicator Price Changes | Indicator | December 26 | December 19 | Weekly Change | | --- | --- | --- | --- | | COMEX Gold | $4,562.00 | $4,368.70 | 4.42% | | COMEX Silver | $79.68 | $67.40 | 18.22% | | SHFE Gold Main Contract | 1,016.30 yuan | 979.90 yuan | 3.71% | | SHFE Silver Main Contract | 18,319.00 yuan | 15,376.00 yuan | 19.14% | | US Dollar Index | 98.03 | 98.72 | -0.69% | | USD/CNH | 7.00 | 7.03 | -0.41% | | 10-Year US Treasury Real Yield | 1.91 | 1.92 | -0.01 | | S&P 500 | 6,929.94 | 6,834.50 | 1.40% | | US Crude Oil Continuous | $56.93 | $56.65 | 0.49% | | COMEX Gold-Silver Ratio | 57.26 | 64.82 | -11.67% | | SHFE Gold-Silver Ratio | 55.48 | 63.73 | -12.95% | | SPDR Gold ETF | 1,071.13 tons | 1,052.54 tons | 18.59 tons | | iShare Gold ETF | 492.64 tons | 491.82 tons | 0.82 tons | [10] Group 3: Liquidity Recovery after Japanese Yen Interest Rate Hike - After the Japanese yen interest rate hike, the market showed a "boot landing" situation, with a significant recovery in short-term liquidity. The US dollar index continued to weaken, falling to the 98 mark, which was positive for the gold price [12] Group 4: Tracking of Other Indicators - Last week, the combined holdings of SPDR and iShares gold ETFs were 1,563.77 tons, an increase of 19.41 tons from the previous week. After the Japanese yen interest rate hike, precious metals generally rose, with silver's increase significantly larger than that of gold, and the gold-silver ratio continued to weaken, dropping below 60 last week [16][18]

Group 1: Global Economic Context - In the post-pandemic era, global economies have largely implemented monetary and fiscal easing to counteract recession, leading to rising government deficits and debt levels [1][24] - The main paths to resolve high government debt amid growth pressures are identified as: growth through technological advancement, inflation to erode debt, and fiscal tightening [25][28] - The current global economic environment is characterized by a trend of re-inflation and economic recovery, supported by continued monetary easing and fiscal expansion [3][24] Group 2: AI as a Growth Engine - AI is viewed as the sole engine for growth-driven debt reduction, with the industry still in an upward trend despite concerns over a potential bubble [2][45] - The market sentiment around AI remains optimistic but not euphoric, with high GPU utilization indicating no excessive idle capacity [52][66] - Major tech companies are experiencing significant profit growth, with Nvidia's profit growth projected at 581.3% for 2023, indicating strong performance in the AI sector [91] Group 3: Inflation and Gold - Gold is expected to benefit from the ongoing debt crisis, with three main reasons supporting a bullish outlook: macroeconomic narratives favoring gold as a safe haven, declining real interest rates, and continued demand from ETFs and central banks [2][25] - The inflationary environment is anticipated to support commodity prices, including gold, as governments face challenges in managing high debt levels [24][25] Group 4: Asset Allocation for 2026 - The asset allocation strategy for 2026 suggests a focus on assets that cannot be changed by the world (like precious metals) and those that can change the world (like the AI industry) [11][12] - The equity markets are expected to be supported by loose fiscal and monetary policies, with a slow bull market anticipated for A/H shares and a neutral to bullish outlook for US stocks [3][12] - Commodity markets are projected to see upward momentum, particularly in gold, silver, and copper, driven by global energy transitions and AI-related infrastructure demands [3][12]

12月29日，港股三大指数集体下跌，恒生指数跌0.71%，国企指数跌0.26%，恒生科技指数跌0.3%盘初曾大涨至2.2%。 | ત્ત્વ | 名称 | | 最新价 | 涨跌额 | 涨跌幅 √ | | --- | --- | --- | --- | --- | --- | | 800100 | 国企指数 | (0) | 8891.71 | -23.41 | -0.26% | | 800700 | 恒生科技指数 | | 5483.01 | -16.29 | -0.30% | | 800000 | 恒生指数 | | 25635.23 | -183.70 | -0.71% | 盘面上，权重科技股多数走低，阿里巴巴、小米、快手、腾讯控股跌超1%，京东、百度微跌；博彩股跌幅居前，大摩称明年牌照费升至每月收益3.5%，美 高梅中国大跌超17%表现最差；金银价格大肆回落，黄金及贵金属板块下挫，紫金黄金国际、山东黄金等多股跌超5%；农业股、苹果概念、电力股、家电 股、餐饮股、影视股、内房股等多数表现低迷。 另一方面，纸业股拉升，玖龙纸业涨超4%；财政部明年继续安排资金支持消费品以旧换新，汽车股表现活跃，蔚来、小鹏、比亚迪涨 ...

为什么所有黄金玩家，不管新手老手，都把新浪财经焊死在手机里？因为这款APP，直接把炒黄金 的'爽感'拉到天花板，把赚钱的'胜率'怼到极致，用过的人都说：炒黄金不用新浪财经，等于白炒！ ✅ 行情快到离谱，黄金涨跌快人十步，吃肉永远抢先机！ 新浪财经的黄金行情，是业内顶流的极速数据！全球伦敦金、美黄金、沪金、纸黄金、黄金ETF全品类 全覆盖，0延迟秒更金价，比别家平台快出一大截，别人还在刷刷新价，你已经精准入场！美元指数、 美债、原油、地缘快讯全绑定金价走势，黄金涨跌的核心逻辑，一眼看穿，精准踩中每一波涨跌，绝不 踏空、绝不追高！ ✅ 资讯猛到封神，黄金涨跌的内幕消息，全在这拿捏！ 炒黄金，赚的就是信息差！新浪财经7×24小时轰炸式推送黄金专属快讯，美联储加息降息、非农数 据、地缘冲突、央行购金，任何能撬动金价的重磅消息，永远全网第一时间推送，别人后知后觉，你早 已提前布局！更有独家黄金权威研报、机构绝密策略，多空趋势一眼看清，哪怕你是黄金小白，跟着资 讯走，也能轻松拿捏大行情，闭眼赚波段！ 为什么所有黄金玩家，不管新手老手，都把新浪财经焊死在手机里？因为这款APP，直接把炒黄金 的'爽感'拉到天花板，把赚钱的' ...

新浪合作大平台期货开户 安全快捷有保障 新浪合作大平台期货开户 安全快捷有保障 新浪声明：此消息系转载自新浪合作媒体，新浪网登载此文出于传递更多信息之目的，并不意味着赞同 其观点或证实其描述。文章内容仅供参考，不构成投资建议。投资者据此操作，风险自担。 12月29日，黄金，近期我们的观点，逢低做多，破高回踩继续多，只多不空，顺势布局千万不要有逆势 博回调的想法，跟市场对着干，结果越套越深只会很惨，并且很难再去顺势。 上周五强调黄金在4490上方就需择低做多看涨，盘面价格快速回撤止跌之后就是介入多的机会，无论行 情是多头继续上涨还是洗盘，等待回调还是需要多，有合适的止损位就能果断出手！ 上周五强调黄金在4490上方就需择低做多看涨，盘面价格快速回撤止跌之后就是介入多的机会，无论行 情是多头继续上涨还是洗盘，等待回调还是需要多，有合适的止损位就能果断出手！ 今日早盘开盘黄金价格加速冲击至4550停滞，4550是上周五高点位置，今日再度冲高未破高承压回落， 盘面价格大幅下跌至4472位置回升，目前黄金价格在4500上下徘徊，按照顺势思路我们还是维持低多， 如同黄金之前一直强调的，黄金快速回落止跌之后是做多机会，目前 ...

12月29日，上周黄金市场走出了一波先抑后扬的强势震荡拉升行情，整体呈现出明确的多头进攻态势， 周线级别的大阳线收尾为本周行情奠定了看多基调。从具体走势来看，周初黄金开盘于4339.8点位，开 盘后行情短暂回落，周线最低下探至4337.2点位，随后多头开始发力，推动行情进入强势震荡上行通 道。在多方资金的持续推动下，上周黄金行情一路攀升，周线最高触及4551.3点位，创下阶段性高点 后，行情进入短暂整理阶段。最终周线收于4531.8点位，以一根下影线稍长于上影线的大阳线收尾，这 样的K线形态不仅彰显了多头的强劲动能，更传递出市场做多情绪的升温。从技术形态来看，上周黄金 在触及4337.2低位后快速反弹，形成的下影线表明下方支撑力度强劲，4330-4340区间已成为短期重要 支撑带。而周线大阳线的实体部分覆盖了前期多根震荡K线，形成了有效的突破形态，打破了此前的震 荡整理格局，为后续行情的进一步上行打开了空间。此外，从量能配合来看，上周行情拉升过程中量能 逐步放大，说明多头资金进场意愿强烈，并非短期资金炒作的虚假上涨，而是具备扎实支撑的趋势性上 涨，这也进一步确认了本周市场的继续看多需求。 新浪合作大平台期货开 ...

来源：赛博AI实验室 2025年12月29日，国际金价跌破4500美元/盎司，而国内金饰价格却飙至1413元/克的历史高点，市场呈 现"零售火热、回收遇冷"的鲜明反差。 一、核心价格动态 国际金价剧烈震荡 12月29日，现货黄金跌破4500美元/盎司，日内跌0.7%，白银同步跳水抹去6%涨幅转跌2%。此次波动 源于短期技术性超买（黄金RSI达95.94）引发的获利了结，但全年涨幅仍超70%，创1990年以来最大年 度涨幅。驱动因素包括美联储降息预期、地缘冲突（如中东局势）及美元走软推高避险需求。 国内金饰价格创新高 周大福、老凤祥等品牌足金饰品挂牌价达1413元/克，单日最高涨36元，年内累计涨幅近70%。但回收 价虽突破1000元/克，交易却异常冷清：消费者普遍"捂金惜售"，期待更高价位；同时金饰高溢价（工 费占售价11%-40%）导致回收折损大，变现意愿低。 二、市场两极分化现象 消费降温 vs 投资火热 零售端：高价抑制婚庆刚需，60克"三金"成本从4万涨至超8万，部分消费者转向轻克重"一口价"饰品或 租赁服务。 投资端：银行金条、黄金ETF受追捧。如郑州一顾客7年前4万购入的180克黄金，回收获利18 ...

他提及自己过往调解八场战争，乌俄冲突是最棘手的一场，但坚信双方均有达成和平协议的意愿，且此 次会面将取得积极成果。 【最新伦敦金行情解析】 黄金小时图走势呈现剧烈波动，价格先是从4550美元/盎司快速下探，跌幅超78美金，随后自4470附近 反弹至4517，反弹幅度达55美金，当前围绕4500一线震荡整理。 从趋势结构来看，短线上升趋势依旧完好，震荡走势可能酝酿进一步回撤，为多头提供更低的买入机 会，投资者无需因短期回撤改变看涨突破4550美元/盎司思路。 摘要今日周一(12月29日)亚盘时段，伦敦金目前交投于4471.99美元附近，截至发稿，伦敦金最新报 4515.93美元/盎司，跌幅0.36%，最高上探至4548.92美元/盎司，最低触及4471.99美元/盎司。目前来 看，伦敦金短线偏向看涨走势。 今日周一(12月29日)亚盘时段，伦敦金目前交投于4471.99美元附近，截至发稿，伦敦金最新报4515.93 美元/盎司，跌幅0.36%，最高上探至4548.92美元/盎司，最低触及4471.99美元/盎司。目前来看，伦敦金 短线偏向震荡走势。 【要闻速递】 美国总统特朗普与乌克兰总统泽连斯基在美国佛罗里达 ...

Group 1 - In 2026, the U.S. is expected to continue its interest rate cuts, while A-shares may maintain a "slow bull" market driven by sectors like AI, semiconductors, humanoid robots, and low-altitude economy [1][6] - The A-share market is becoming more institutionalized and focused on leading companies in the technology and AI sectors, while other sectors like consumption and real estate are experiencing a lack of funding and continued price stagnation [6][8] - The investment landscape in 2026 will be shaped by two main factors: monetary easing and the practical application of AI, with concerns about AI's production efficiency not covering computing costs [8] Group 2 - The Hong Kong stock market in 2026 is expected to remain stable, influenced by domestic macroeconomic fundamentals and overseas dollar liquidity [9] - The 2026 economic policy framework emphasizes practical effects and long-term health, focusing on expanding domestic demand, technological innovation, risk mitigation, and social welfare [15] - The real estate market is shifting from "incremental thinking" to "stock thinking," with opportunities arising from deep optimization and value reassessment of existing cities [16] Group 3 - The gold market is expected to remain bullish, with prices projected to reach between $4,800 and $5,000 per ounce, driven by a declining interest rate environment and ongoing central bank purchases [22][23] - The price of lithium carbonate has surged, and the low-altitude economy is facing challenges related to battery costs, which may catalyze advancements in battery technology [21] - Silver prices have increased significantly, driven by a combination of inventory crises, industrial demand, and capital accumulation, with a focus on maintaining a calm approach to investment during periods of market volatility [26][28]