来源：环球网 【环球网财经综合报道】在今年金价上涨背景下，黄金主题投资吸引了外资的关注。据彭博社援引的数 据，明晟公司（MSCI Inc.）编制的全球黄金股指数今年上涨了约135%，与贵金属价格的涨势同步。该 指数有望创下相对于明晟公司编制的主要全球半导体企业指数的最大年度超额收益纪录，后者今年涨幅 为40%。 | Bloomberg | | | --- | --- | | · Live TV Markets > Economics Industries Tech Politics Businessweek Opinion More > | | | Gold: How to Invest Why Now Illegal Mining Gold-Rush Fever | | | Markets | Gold Stocks Trounce Al-Led Chip | | Rally With 135% Gain in 2025 | | 悉尼Van Eck Associates Corp. 跨资产投资策略师安娜·吴（Anna Wu）表示，"黄金和黄金矿业股是我最 看好的中期主题投资之一。黄金具有避险吸引力，而黄金矿 ...

Core Viewpoint - The Chinese government has escalated its actions against BHP by requesting domestic steel mills to halt any new contracts for iron ore priced in US dollars, indicating a shift towards local currency transactions and a broader strategy to reduce reliance on the US dollar in commodity trade [1][3]. Group 1: Trade Dynamics - The ban on new dollar-denominated contracts follows China's earlier suspension of purchases of BHP's iron ore, marking a significant escalation in trade tensions between China and Australia [1][3]. - Australia’s Prime Minister Albanese expressed disappointment over China's decision, emphasizing the importance of iron ore trade for both economies and acknowledging the frequent price negotiation disputes [3][15]. Group 2: Historical Context - China's involvement in international iron ore negotiations began in 2004, but it has historically been in a position of accepting rules set by international miners [3][5]. - The price of iron ore saw significant increases from 2005 to 2008, with a cumulative rise of 165% over four years, highlighting the challenges faced by Chinese steel companies in negotiating prices [5]. Group 3: Shift to Local Currency - The establishment of China Mineral Resources Group in 2022 aimed to consolidate purchasing power among domestic steel mills to challenge the pricing dominance of international miners [6]. - BHP's acceptance of RMB for iron ore transactions in 2022 marked a pivotal moment in the shift towards local currency settlements, with previous attempts to use RMB dating back to 2019 [6][11]. Group 4: Global De-dollarization Trends - The global trend of de-dollarization has gained momentum, with countries like Brazil and Argentina moving towards local currency trade agreements with China [8]. - The share of the US dollar in global foreign exchange reserves has decreased to 58.4%, the lowest since 1995, reflecting a growing distrust in the dollar [8][13]. Group 5: Supply Chain Diversification - China's strategy to diversify iron ore supply includes the development of the Ximangdu iron ore project, expected to add 120 million tons of annual supply capacity [10]. - The domestic recycling of scrap steel is being accelerated, with each ton of scrap steel replacing 1.6 tons of iron ore, contributing to reduced carbon emissions [10]. Group 6: Market Implications - In 2023, China's iron ore imports are projected to reach 370 million tons, accounting for over 75% of global seaborne trade, making China a critical market for Australian iron ore exports [11]. - If China were to cease orders from BHP, the company could face a significant revenue shortfall, given that 80% of its iron ore exports are directed to China [11][15]. Group 7: Financial Market Reactions - The rising costs of domestic iron ore procurement for large steel enterprises have increased by 64% year-on-year, indicating the direct impact of international price fluctuations on the domestic industry [17]. - The shift in procurement strategies aims to leverage economies of scale to mitigate price volatility in the iron ore market [17].

Group 1 - The core point of the article highlights that gold prices have surged to unprecedented levels, breaking the historical inflation-adjusted record, indicating a loss of confidence in the future [2][5] - In September, gold prices exceeded $3,674, and in October, they reached $3,896, marking a significant increase compared to the historical peak of $850 in 1980, adjusted for inflation [2] - The current situation mirrors the 1970s when economic instability led to a massive increase in gold prices, driven by factors such as rising U.S. debt and inflation [2][3] Group 2 - Several factors are contributing to the rising demand for gold, including central banks, particularly in China and Russia, increasing their gold reserves amid a trend of "de-dollarization" [3] - The attractiveness of the U.S. dollar and U.S. Treasury bonds is declining, prompting investors to shift their funds into gold [3] - Geopolitical risks, such as conflicts in Ukraine and the Middle East, are driving investors to seek gold as a safe haven [3] - The likelihood of the Federal Reserve lowering interest rates could further devalue the dollar, making gold more appealing [3] Group 3 - Despite the surge in gold prices, current data does not indicate an imminent hyperinflation, but there is a risk of a loss of confidence in government and central bank control over monetary policy [4] - The fear of inflation is more about psychological factors than actual price increases, as a loss of trust could lead to a rush towards gold [4] - The founder of Bridgewater Associates, Ray Dalio, has expressed concerns about currency devaluation and debt imbalances, suggesting that historical crises could repeat themselves [4] Group 4 - The rise in gold prices is seen as a warning signal rather than a celebration, indicating the erosion of dollar dominance and the increasing burden of fiscal deficits [5] - The current gold price levels reflect a collective anxiety about the future order and the stability of the monetary and debt systems [5]

美国政府停摆这出戏又上演了，而且这次还搭上了对华政策的急转弯，这背后的算计可比表面看起来有意思多了。就在中国人欢度国庆之际，美国联邦政府 却因为两党恶斗再度"停摆"，而特朗普团队在这种尴尬时刻突然对中国释放善意，这波操作背后的战略焦虑实在耐人寻味。 这次停摆直接原因是参议院未能通过临时拨款法案，但根子是美国政治生态的病态化。民主、共和两党在医保福利、移民政策等问题上互不相让，都把预算 谈判当成了选举工具——拨款问题不再关乎民众福祉，而是两党争取自身权益、增强权力、增加选举胜算的手段。结果就是80万联邦雇员被迫无薪休假，国 家公园关门，各项经济数据发布受影响。 全球治理角色提升：随着美国在联合国等国际组织中的影响力因停摆而受限，上海正在成为填补治理真空的备选枢纽。 这次美国政府停摆不仅是一场国内政治危机，更暴露了美国全球战略的内在矛盾： 外交缺位的风险：如果美国国务院和财政部等涉外部门实施"大规模永久性裁员"，可能导致美国外交决策出现断链，甚至引发热点地区的误判-3。 全球治理的重构：美国在联合国等国际组织中的话语权因停摆而受限，这将加速全球治理体系的多极化进程。 这已经不是新鲜事了，自1970年代以来美国联邦 ...

Group 1 - The core argument of the article highlights the geopolitical implications of Putin's use of a Chinese proverb to critique U.S. energy sanctions, revealing the contradictions in U.S. policy and its impact on global energy dynamics [1][3] - The article discusses the "double standards" in U.S. energy sanctions, noting that in 2023, the U.S. imported approximately $260 million worth of nuclear fuel from Russia, which supports over 20% of its nuclear power generation, while demanding allies to cut ties with Russian energy [3][5] - The article emphasizes the growing discontent among European nations regarding U.S. energy policies, as exemplified by German politician Matthias Hoppe's criticism of the U.S. purchasing Russian uranium while European companies face energy shortages [5] Group 2 - The article outlines how U.S. sanctions are accelerating the restructuring of global energy trade routes, with Russian energy exports to India increasing by 21 times and natural gas supplies to China rising by 60% in 2023, thereby reshaping the global energy power structure [5][7] - It notes that the U.S. has benefited from its own sanctions, with a 150% increase in LNG exports to Europe in 2023, at prices three times higher than Russian pipeline gas, highlighting the financial gains for U.S. energy companies amid the sanctions [5][7] - The article points out the dilemma faced by developing countries like India and Pakistan, which prioritize energy security over geopolitical considerations, leading to the emergence of alternative energy cooperation frameworks among BRICS nations and accelerating the de-dollarization process [7][9]

Group 1 - The core viewpoint is that despite the hype around AI and significant gains in chip stocks, gold mining stocks may present a more attractive investment opportunity this year [2] - The MSCI global gold stock index has surged approximately 135% this year, aligning with the rise in gold prices, while the semiconductor index has only increased by 40% [2] - The disparity in performance highlights a key market trend where central banks' continued accumulation of gold has attracted investor interest, even amidst the "fear of missing out" (FOMO) on AI-related assets [2] Group 2 - Gold has risen over 47% this year, reaching historical highs and is on track for its best annual performance since 1979, supported by central bank purchases, Federal Reserve rate cuts, and increased gold ETF holdings [2] - Among the top stocks in the MSCI gold mining index, Newmont Corporation (NEM) and Agnico Eagle Mines Limited (AEM) have both seen stock price increases exceeding 100% since 2025, while Zijin Mining (02899) has outperformed Alibaba (09988) with a rise of over 130% [3] - The expected price-to-earnings ratio for the MSCI gold mining index is 13, lower than its five-year average, contrasting with the semiconductor index's high expected P/E ratio of 29 [3]

你平时在海淘时，是否习惯性地选择美元付款？或者在给国外亲朋转账时，总是默认为先换成美元？过去几十年，美元一直是国际交易的"默认货币"，很多 人觉得跨境支付就应该用美元，似乎没有别的选择。 然而，最近的新闻里，出现了一些不同寻常的动向。印度表示外贸可以用卢比结算，澳大利亚开始收取人民币支付铁矿石款项，甚至连俄罗斯，也开始用人 民币收天然气款项。这些现象让人不禁思考：美元作为"世界通用货币"的地位，真的会动摇吗？这场"货币转换"的热潮，是短期的跟风，还是全球货币格局 正在发生改变？ 一、为何连美国的盟友也开始放弃美元？ 比如俄罗斯，作为能源大国，原本用美元做外贸结算，但随着美国将其踢出SWIFT结算系统、冻结外汇储备，俄罗斯不再能依赖美元进行正常交易。于是， 俄罗斯自己建立了一个结算系统，甚至宣布开始用人民币收取天然气款项。这样一来，印度、土耳其等天然气进口国可以直接用人民币支付，避免了换汇的 麻烦，也减少了汇率波动带来的风险。 更让人意外的是，长期以来和美国关系密切的澳大利亚也开始"务实"地改变做法。今年，澳大利亚首次在铁矿石交易中使用人民币结算。铁矿石是澳大利亚 经济的重要支柱，之前的交易几乎全部使用美元，而 ...

在黄金牛市下，黄金个股备受市场追捧！ 自9月30日上市以来，紫金黄金国际（02259.HK）在短短3个交易日中，股价最高较发行价已翻倍，总市值更是已超过3600亿港元。 而在股价接连大涨的同时，昨日（10月2日）盘后，紫金黄金国际再获"重大利好"，公司股票将于10月15日收市后被纳入恒生综合指数及其相关分类指数，并于10月 16日起生效。 值得注意的是，在这一轮黄金大牛市下，不仅是紫金黄金国际大涨，其母公司紫金矿业同样是大涨特涨，今年以来涨幅已接近100%。 上市2天即"入指" 据了解，紫金黄金国际是由总市值超7800亿元的巨头紫金矿业拆分而来，是紫金矿业的所有黄金矿山（除中国之外）整合而成的全球领先黄金开采公司，公司继承 了紫金矿业在低品位难采选资源勘查、开发及运营的管理竞争优势，成为一家全球领先的市场化黄金开采公司，主要从事黄金的勘查、开采、选矿、冶炼、精炼及 销售。 在本次分拆上市过程中，紫金黄金国际可谓是备受瞩目。根据相关统计显示，紫金黄金国际此次IPO开创多项纪录：系迄今为止全球黄金开采行业规模最大IPO、中 国矿业企业规模最大境外IPO及全球今年规模第二大IPO。 同时，紫金黄金国际的上市速度不可 ...

COMEX黄金同步拉升，日内涨超1%，截至发稿报3920.2美元/盎司。 | ( IW | | | COMEX黄金 | | | | | --- | --- | --- | --- | --- | --- | --- | | | | | GC.CMX | | | | | 3920.2 | | 昨结 | 3873.2 | 开盘 | | 3887.7 | | +47.0 | +1.21% | 总手 | 8.33万 | 现手 | | 5 | | 最高价 | 3922.7 | 持 仓 | 40.15万 | 2 | | 3.85万 | | 最低价 | 3880.3 | 增 仓 | -4566 | 内 다 | | 4.48万 | | सेन्य | 五日 | 日K | 周Ｋ 月K | | 彫多 | | | 叠加 | | | | | 물口 | | | 3922.7 | | | | -1.28% | 卖1 3920.3 | 4 | | | | | | | 买1 3920.1 | 3 | | | | | | | 04:23 3920.2 | 3 | | | | | | | 04:23 3920.1 | 1 | | 3873.2 ...

9月初，一则看似普通的通知，在大宗商品圈子里引起了不小的震动：中国矿产资源集团明确告诉国内买家，暂时别再接收必和必拓那批以美元计价的铁矿 石。 这不是小动作。必和必拓是澳大利亚最大的矿企之一，中国则是全球最大的铁矿石进口国，一年进口量占了全球海运量的七成以上。 买方突然暂停采购，不是说不要铁矿石了，而是对交易方式提出了明确的态度。换句话说，不是货不好，而是结算方式不合适。 这事发生得不突然。从今年8月下旬开始，中国方面就在与几家主要矿商就价格问题僵持不下，特别是关于中品位铁矿石的折扣定价。 必和必拓并没有表现出太多让步的意思，谈判迟迟没有进展。而就在这时候，关于采购暂停的消息流出，时间点非常微妙。 澳大利亚政府很快有所回应，总理阿尔巴尼斯在9月中旬接受采访时说对这个决定"感到遗憾"，希望尽快恢复正常贸易。但中国并没有立刻做出调整。 这一举动不是情绪化的反应，而更像是计划之中的一环。对于很多关注国际贸易的人来说，这像是一场早就布好局的游戏，关键只在什么时候出牌。 过去很多年，铁矿石市场基本由三家巨头控制：必和必拓、力拓和淡水河谷。这三家掌握着最重要的资源和运输通道，从开采到定价都说了算。 买家再大，也只能按照他 ...