今日周一(1月26日)亚盘时段，伦敦银目前交投于107.81一线上方，今日开盘于104.32美元/盎司，截至发 稿，伦敦银暂报109.34美元/盎司，上涨6.24%，最高触及109.44美元/盎司，最低下探103.26美元/盎司， 目前来看，伦敦银盘内短线偏向看涨走势。 【最新伦敦银行情解析】 伦敦银市场上周高开在91.285的位置后行情先拉升给出95.908的位置后行情盘中强势回落，周线最低给 到了90.255的位置后行情在避险言论影响下强势拉升，周线最高触及到了103.018的位置后整理，周线最 终收线在了102.969的位置后，周线以一根基本饱和大阳线收线。 日内而言，伦敦银短期支撑103区域重点，之上强势，跌落走弱；关键重点99-100美元，之上保持多 头，一旦跌落大幅度回落风险加大。 米洛表示，美国近期在波斯湾及中东多地加强军事部署，以军正密切关注局势发展。他指出，如果美国 决定对伊朗发动打击，伊朗的部分回应行动可能波及以色列，以军已为此做好准备。 米洛同时表示，以色列正密切关注黎巴嫩真主党是否可能加入更大范围的冲突。他强调，以军已在防御 和必要时的进攻准备方面保持高度戒备。 此前，美国总统特朗普2 ...

Core Viewpoint - The prices of gold and silver are experiencing significant increases, with gold surpassing $5000 per ounce and silver exceeding $109 per ounce, driven by market volatility and geopolitical uncertainties [1] Group 1: Gold Market - On January 26, the London spot gold price broke the $5000 per ounce mark, reaching a historical high and approaching $5100 per ounce during trading [1] - The increase in gold prices is attributed to a potential focus on "rate cut trades," which may enhance market volatility [1] Group 2: Silver Market - The London spot silver also saw a strong performance, with a daily increase of over 5%, surpassing $109 per ounce [1] - The rise in silver prices is occurring concurrently with the surge in gold prices, indicating a broader trend in precious metals [1] Group 3: Market Sentiment - The ongoing uncertainties related to Greenland and Iran are contributing to heightened risk aversion, which may support the upward movement of precious metals in the short term [1]

Group 1 - The report is a precious metals data daily report, providing data and analysis on precious metals such as gold and silver [3][4] Group 2 - On January 23, 2026, the closing price of the main contract of Shanghai gold futures rose 2.55% to 1115.64 yuan/gram, and the main contract of Shanghai silver futures rose 8.5% to 24,965 yuan/kilogram [4] - Geopolitical risks such as the Greenland crisis, US sanctions on Iran, and the consideration of overthrowing the Venezuelan regime have led to a surge in risk aversion, boosting precious metal prices [5] - Large - scale capital outflows from currency and sovereign debt and into gold and silver have pushed up the prices of gold and silver [5] - Japan's actions in the bond market, the hawkish stance of the Bank of Japan governor, and the sharp rebound of the yen have increased the decline of the US dollar index, which is beneficial to precious metal prices [5] - London spot gold approached $5000 per ounce, and London spot silver broke through $100 per ounce for the first time in history, with an intraday increase of over 7% [5] Group 3 - In the short term, geopolitical risks, high market uncertainty, risk - aversion, and strong silver fundamentals will continue to support precious metal prices. However, the risk of short - term profit - taking should be watched out for due to the upcoming tripartite contact between Russia, Ukraine, and the US and the Fed's January interest - rate meeting [6] - In the long - term, the Fed is in an easing cycle, geopolitical uncertainty will continue, the trend of de - dollarization will accelerate, and the allocation demand of global central banks, institutions, and residents is expected to continue. So the price center of precious metals is likely to move up. Investors are advised to buy on dips or sell out - of - the - money put options [6] Group 4 Price Tracking - **15 - point prices on January 23, 2026**: London gold spot was $4954.27/ounce, London silver spot was $99.03/ounce, COMEX gold was $4955.00/ounce, COMEX silver was $99.04/ounce, AU2602 was 1111.88 yuan/gram, AG2602 was 24994 yuan/kilogram, AU (T + D) was 1110.30 yuan/gram, and AG (T + D) was 24970 yuan/kilogram. Compared with January 22, 2026, the price increases were 2.7%, 5.3%, 2.7%, 5.4%, 2.6%, 6.9%, 2.7%, and 6.9% respectively [4] - **Price differences on January 23, 2026**: The gold TD - SHFE active price difference was - 1.58 yuan/gram, the silver TD - SHFE active price difference was - 24 yuan/kilogram, the gold internal - external price difference (TD - London) was - 3.55 yuan/gram, the silver internal - external price difference (TD - London) was - 166 yuan/kilogram, the SHFE gold - silver ratio was 44.49, the COMEX gold - silver ratio was 50.03, AU2604 - 2602 was 3.76 yuan/gram, and AG2604 - 2602 was - 29 yuan/kilogram. The changes compared with January 22, 2026 were - 25.5%, 33.3%, - 28.3%, - 67.5%, - 4.1%, - 2.6%, - 6.5%, and - 6.5% respectively [4] Position Data - On January 23, 2026, the gold ETF - SPDR was 1086.53 tons, the silver ETF - SLV was 16089.98142 tons, COMEX gold non - commercial long positions were 295772 contracts, non - commercial short positions were 51002 contracts, non - commercial net long positions were 244770 contracts, COMEX silver non - commercial long positions were 42965 contracts, non - commercial short positions were 17751 contracts, and non - commercial net long positions were 25214 contracts. Compared with January 22, 2026, the changes were 0.64%, - 0.09%, - 0.14%, 13.48%, - 2.57%, - 9.24%, 16.19%, and - 21.35% respectively [4] Inventory Data - On January 23, 2026, the SHFE gold inventory was 102009 kilograms, the SHFE silver inventory was 581090 kilograms, the COMEX gold inventory was 36144280 troy ounces, and the COMEX silver inventory was 416424863 troy ounces. Compared with January 22, 2026, the changes were 0.00%, - 1.35%, 0.00%, and - 0.42% respectively [4] Interest Rate/Exchange Rate/Stock Market - On January 23, 2026, the US dollar/yuan central parity rate was 6.99, the US dollar index was 97.51, the 2 - year US Treasury yield was 3.60%, the 10 - year US Treasury yield was 4.24%, the VIX was 16.09, the S&P 500 was 6915.61, and NYMEX crude oil was $61.28/barrel. Compared with January 22, 2026, the changes were - 0.13%, - 0.79%, - 0.28%, - 0.47%, 2.88%, 0.03%, and 2.70% respectively [4]

北京时间1月26日早间，国际金价大幅上行，突破5000美元/盎司。 地缘紧张局势加剧，尤其是美欧关系剑拔弩张，使得市场避险情绪升温，推动黄金价格突破新高。地处北极西北航道要冲的格陵兰岛，控制着连接大西洋 与太平洋的北极航线咽喉，具有重要的航运价值和资源价值。美国政府近期持续发表觊觎格陵兰岛的言论。1月17日，美国总统特朗普在社交媒体上宣 布，将从2月1日起对来自丹麦、挪威、瑞典、法国、德国、英国、荷兰和芬兰的输美商品加征10%的关税，并将在6月提高至25%，激起欧盟反击，欧洲 议会21日决定暂缓批准欧美贸易协议。但随后美方又称，已经"制定关于格陵兰岛乃至整个北极地区未来协议的框架"，因此不会实施原定于2月1日生效的 关税措施。 随着美欧对立升级，投机资金浪潮般涌入贵金属市场。统计数据显示，全球最大黄金交易所交易基金（ETF）持仓量一度攀升至1085.67吨，同比增长 24.9%，刷新2年多来的纪录。可见，全球资金对黄金的配置热情仍在攀升。 如果说美欧冲突是这轮金价上涨的推手，那么美元信用弱化与各国央行购金需求高涨，则是支撑黄金冲高的根本力量。 丹麦自治领地格陵兰岛首府努克市中心。安德斯·孔斯豪格摄（新华社） ...

2026.01. 26 本文字数：2170，阅读时长大约4分钟 作者 | 第一财经 樊志菁 随着地缘政治紧张局势高烧不退、全球财政风险忧虑卷土重来，投资者当地时间26日开盘再次涌向 贵金属寻求避险。 截至第一财经发稿时，纽约商品交易所2月交割的COMEX黄金期货上涨超2%，突破5100美元关口， 2月白银期货日内飙升超6%，一度站上108美元/盎司，或创下史上最大月涨幅纪录。 黄金再迎里程碑 近期从格陵兰岛、委内瑞拉到中东的多个冲突热点都推高了地缘政治风险，进一步凸显黄金对冲不确 定性的属性，成为这一贵金属价格飙升的重要原因。上周末，美国总统特朗普威胁对加拿大加征 100%关税，再次引发外界对全球经济不确定性担忧。 汇丰银行在最新研报中表示："黄金和白银价格近期的进一步上涨，与地缘经济问题密切相关。" 与此同时，美元弱势也提振了大宗商品市场，投资者关注可能再次到来的政府停摆。26日盘初，美 元指数下跌0.4%，报97.11，创近四个月新低。23日日本政府表态将采取措施应对日元回落波动背后 的市场投机行为，并警告称已做好干预准备，此后投资者将持续密切关注日本股市与日元走势。巴克 莱银行认为："干预预期升温推动日 ...

Group 1: Market Performance - The domestic futures market showed a mixed performance from January 19 to January 23, with strong performance in precious metals and energy chemicals, while the black series experienced a general pullback [2] - In the energy chemical sector, fuel oil rose by 4.01% and crude oil increased by 0.79%. In contrast, the black series saw coking coal decline by 1.07% and iron ore drop by 2.21% [2] - Precious metals saw significant gains, with Shanghai gold up by 6.10% and Shanghai silver up by 8.39% [2] Group 2: Precious Metals Insights - On January 23, international silver prices surpassed $100 per ounce, marking a historical high with an annual increase of over 44%. The rise in gold and silver prices is attributed to geopolitical factors [3] - Silver's price increase is driven by both financial and industrial demand, with ongoing supply shortages exacerbated by tightening export controls and low inventory levels [3][4] - Analysts suggest that the recent price increases in gold and silver are primarily influenced by geopolitical tensions and market liquidity expectations rather than solely by safe-haven demand [4][5] Group 3: Platinum and Palladium Market Trends - On January 23, overseas platinum futures prices exceeded $2,600 per ounce, while palladium prices approached $2,000 per ounce, with platinum futures rising by 10.39% [6] - The platinum market has faced supply shortages for three consecutive years, with a projected supply gap of 69,200 ounces by 2025, leading to low inventory levels [6] - The demand for platinum is expected to be bolstered by the accelerating hydrogen energy industry, while palladium faces long-term pressure due to its reliance on internal combustion engine vehicles [7] Group 4: Regulatory Developments - The China Securities Regulatory Commission announced new guidelines for public fund performance benchmarks, effective March 1, 2026, aimed at enhancing the stability and seriousness of benchmark applications [8][9] - The guidelines emphasize the need for internal controls and management by fund managers, as well as external oversight by custodians and sales institutions [8][9] Group 5: Oil Market Dynamics - International oil prices rose over 3% due to escalating geopolitical tensions and increased U.S. sanctions, with Brent crude and NYMEX crude closing at $65.44 and $61.29 per barrel, respectively [11] - Analysts note that while the oil market currently faces an oversupply, geopolitical uncertainties provide a support base for prices, leading to potential short-term price spikes [11]

Group 1 - Gold prices have reached a historic high, with spot gold surpassing $5000 per ounce and silver hitting $107, indicating strong demand in the precious metals market [1][3] - Central banks globally are increasing their gold purchases, with a net buying of 45 tons reported in November, maintaining a high level compared to previous months [3] - The Chinese central bank has consistently increased its gold reserves for 14 consecutive months, reaching 7.415 million ounces, which boosts market confidence [3] Group 2 - The rise in precious metal prices is attributed to weakened dollar credit and heightened geopolitical tensions, leading to increased safe-haven demand [3] - Industrial metals such as copper, aluminum, lead, and zinc are also experiencing price increases, driven by low global inventories and anticipated recovery in the Chinese economy [3][4] - The performance of the non-ferrous mining ETF has been strong, with a one-year increase of 128.68%, indicating high price elasticity and responsiveness to rising metal prices [5]

黄金迎来5100美元里程碑。 随着地缘政治紧张局势高烧不退、全球财政风险忧虑卷土重来，投资者当地时间26日开盘再次涌向贵金 属寻求避险。 瑞士联合私人银行认为，机构与零售投资者的持续买盘推动了金银价格上涨。该行表示："预计黄金将 迎来又一个强势年份，这反映出各国央行和零售端的投资需求仍在持续，我们将黄金年末目标价定为每 盎司5200美元。" 高盛集团认为，黄金的需求基础已突破传统渠道。2025年初以来，西方黄金交易所交易基金（ETF）的 持仓量增加了约500吨；同时，高净值家族实物购金等对冲宏观政策风险的新型投资方式，正成为黄金 需求日益重要的来源。高盛近期将2026年12月黄金价格预期从先前的每盎司4900美元上调至5400美元， 理由是，市场对全球宏观与政策风险的对冲需求已具备"粘性"，这一趋势实质性抬高了今年黄金价格的 起点。 各国央行的黄金购买量依旧保持高位。高盛估算，当前全球央行月均购金量约为60吨，远高于2022年之 前月均17吨的水平，尤其是新兴市场央行仍在持续将外汇储备转向黄金资产。值得一提的是，高盛认 为，市场对财政可持续性等全球宏观政策风险的对冲需求将持续至2026年，这与2024年末美国 ...

国联民生证券认为，全球地缘紧张局势升温，贵金属避险情绪提升，价格继续上行。长期来看央行购金 +美元信用弱化主线持续，继续看好金价上行。白银兼具工业和金融属性，光伏用银需求持续，看好工 业需求提振带来白银补涨行情。 消息面上，据新华社报道，美国总统特朗普22日周四在总统专机"空军一号"上对媒体表示，美国正调集 重兵前往伊朗，许多舰艇正在向伊朗行进。此外，特朗普24日威胁将对加拿大商品征收100%的关税， 美国与加拿大的紧张关系也面临加剧。受避险情绪影响，现货黄金首次突破5000美元/盎司。上期所沪 银主力合约触及涨停，报28226元/千克，现涨幅为17.0%。 智通财经APP获悉，黄金股延续近期涨势，截至发稿，赤峰黄金(06693)涨7.19%，报42.66港元；中国白 银集团(00815)涨7.35%，报0.73港元；灵宝黄金(03330)涨6.09%，报25.78港元；紫金矿业(02899)涨 5.74%，报42.74港元；山东黄金(01787)涨5.2%，报48.54港元。 ...

有媒体统计，伦敦现货黄金自北京时间1月12日突破前高站上4600美元/盎司关口至1月21日，每盎司现货黄金价格 上涨超过300美元，盘中最高价六次刷新历史纪录；上海黄金交易所现货黄金（Au99.99）也在此期间实现单克上 涨超90元，七次刷新历史纪录。2026年初至今，国际、国内现货黄金价格涨幅分别超过11%和9%。其中，国内品 牌金饰价格在24日已经大多逼近1550元/克的水平。 对于国际金价不断上涨，分析人士表示，支撑黄金上涨的核心逻辑仍在，全球格局的不确定性或许导致黄金价格 依旧易涨难跌，但短期而言，金价波动率恐将放大，投资者需警惕技术性回调风险。 文/北京青年报记者 张鑫 1月26日，国际金价继续上涨。截至北京青年报发稿时，COMEX黄金涨1.33%，报5045.9美元/盎司；现货黄金涨 1.36%，报5050.93美元/盎司。美国东部时间1月25日傍晚，COMEX黄金期货价格在电子盘交易中突破每盎司5000 美元的历史性关口。 26日早盘交易中，金价大幅上涨，上周已累计上涨8.5%，短期原因是美元走软提振了对贵金属的需求。作为衡量 美元汇率的关键指标——彭博美元即期指数下跌1.6%，创下5月以来最大 ...