日内无可重点关注的数据及事件，因前有圣诞节，后有周末，故此交易上，预计也将继续延续当下局 势，震荡调整的走势为主。 基本面上，根据张尧浠言论：2024年受到美联储降息影响金价上涨27%，2025年更是在降息的基础上， 添加了关税政策担忧，地缘局势担忧，各国央行的持续买入，以及各种政策的不确定等等而进一步走强 年涨超70%以上； 展望后市，未来一年左右，前两年的利好因素仍然存在，并有加大态势，其特朗普预换任更加鸽派的主 席，美国面临着政府支出高企、通胀压力点持续存在通胀以及实际收益率逐步走低的局面。叠加美元走 软，可以看到过去两年支撑黄金价格的基本面要素依然稳固并有望进一步增强。所以，未来一年左右仍 将有进一步的牛市行情。 除非美联储出人意料地转向鹰派美联储主席上任。但就算这样，回顾以往的加息周期，金价也只是产生 了较大的持续走低行情，且依然处于宽幅震荡区间内，所以也难以对金价造成趋势性的回落， 12月26日：上交易周四因圣诞节停盘，回顾前交易日周三（12月24日）：国际黄金震荡十字收线，有反 弹见顶看空的预期，其走势在突破4500美元关键关口，创下4525.42美元的历史新高后，在圣诞假期前 获利了结回吐涨幅 ...

Core Viewpoint - The international gold price is expected to experience high-level consolidation at the end of the year, with a target of reaching $5,000 in the coming year [1][4][6]. Market Analysis - On December 24, gold prices reached a historical high of $4,525.42 but faced profit-taking before the Christmas holiday, leading to expectations of a short-term correction [1]. - The opening of the market on December 25 saw gold prices strengthen due to the recovery of liquidity post-holiday and bullish sentiment driven by interest rate cut expectations [3]. - The dollar index showed signs of recovery but remained under pressure, suggesting limited impact on gold prices in the short term [3]. Future Projections - Predictions indicate that gold prices could rise by 27% in 2024 due to Federal Reserve interest rate cuts, with further increases expected in 2025 driven by tariff policy concerns, geopolitical tensions, and ongoing central bank purchases [4][6]. - The average forecast for gold prices in 2026 is between $4,500 and $4,700 per ounce, with a potential high of $5,000 if macroeconomic conditions remain stable [6]. - The fundamental factors supporting gold prices over the past two years are expected to persist and strengthen, contributing to a bullish market outlook for the next year [6]. Technical Analysis - Monthly charts indicate a strong rebound in gold prices, dispelling previous bearish patterns and suggesting the potential for a new bull market [8]. - Weekly charts show a strong opening and breakout to new highs, increasing bullish momentum and indicating a target of $4,600 [9]. - Daily charts maintain an upward trend despite some weakening in bullish momentum, with key support levels identified at $4,480 and $4,460 [11].

前言： 又是一年一度圣诞节~行情停盘，首先祝各位圣诞节快乐！想想马上就要元旦了，2025年就剩最后这么 几天了，仍然感谢大家又一年的陪伴~回首2025，似乎在川子上任之后，1月20日为分水岭，再也见不 到以往的行情了。首先跟大家说一下交易理念，就是不要追求暴利，一切以稳定最重要，如果你哪一 天，账户连续6个月，不亏损，也没有赚钱，那么你就成功一半了。另外说一件事：宁可不做单，也不 要挂单，也不要追单。这都是一些风险控制技巧，做交易，先学会风险风范，控制风险，我认为有：不 挂单、不追单、不重仓。 只要你做到以上3点，你绝对能够在这个市场生存下去，还有提醒大家，凡是把你当成上帝，不敢说、 不敢教的老师，你跟着他永远赚不到钱，因为他不会管你们，就如你在上学的时候，你学习不好，老师 对你不理不问，不教你正确的学习方法，不管教你们，学习能进步吗；其实就是一个交易纪律的事情， 制定了交易纪律，你遵守，你是安全的，你不遵守，肯定会被市场淘汰。 近期有哪些消息面影响黄金原油走势？后市黄金多空该如何研判？ 周四因圣诞假期，市场交投清单，现货黄金周三早盘突破每盎司4500美元关键关口，创下4525.70美元 的纪录新高，随后回吐 ...

Core Viewpoint - COMEX gold experienced fluctuations, closing at $4505.4 per ounce with a slight decline of 0.01%, while domestic SHFE gold also saw a drop of 0.23% to 1010.30 yuan per gram, indicating a volatile market influenced by various economic factors [1]. Group 1: Market Influences - The rise in gold prices was initially driven by expectations of further interest rate cuts by the Federal Reserve and a weakening dollar, with spot gold briefly surpassing the $4500 mark during overnight trading [1]. - The VIX index and bond market volatility decreased as North American trading commenced, suggesting a shift in market sentiment [1]. Group 2: Economic Indicators - The number of initial jobless claims in the U.S. fell to 214,000, lower than the expected and previous figures of 224,000, indicating a resilient labor market [1]. - U.S. Treasury Secretary Yellen advocated for a reassessment of the Fed's inflation target after inflation rates stabilize at 2%, suggesting a potential shift in monetary policy [1]. Group 3: Market Sentiment - The dollar index ended its two-day decline as profit-taking emerged, leading to a pullback in gold prices, which reflects a possible overbought condition in the precious metals market [1]. - The divergence between bullish and bearish sentiments in the market has widened, prompting a cautious approach for investors [1].

Market Overview - The global precious metals market experienced an unprecedented surge on December 24, 2025, with gold and silver prices reaching record highs, as spot gold surpassed 4500 and spot silver broke through the critical $70 per ounce mark [1][5] - The price increases were driven by multiple factors, including geopolitical tensions, expectations of Federal Reserve interest rate cuts, and a weakening dollar, alongside strong industrial demand and active central bank purchases [1][5] - Silver has seen a remarkable year-to-date increase of 150%, while gold has risen by 72%, and platinum and palladium have surged by 155% and 107%, respectively [1][5] Gold Technical Analysis - The recent rapid increase in gold prices is attributed to geopolitical issues and the Federal Reserve's interest rate environment [6] - Market activity leading up to Christmas showed strong investor interest in gold, with significant price fluctuations observed [6][7] - Suggested trading strategy includes waiting for price corrections to confirm lower points before entering long positions, with potential upward targets set at 4545 or 4600 [7] Silver Technical Analysis - Silver has recently surpassed the $70 mark, reaching a high of $72.6, maintaining a bullish trend [8] - The recommended approach is to continue to adopt a bullish stance without attempting to predict tops, and to consider buying on any price corrections [8] - Key support levels to watch are at 70.3 and 70, with suggestions to buy near these support points if a correction occurs [8]

基本面： 周三（12月24日）亚盘时段，现货黄金继续突破并再次刷新历史高位至4525美元附近后守住强势，目前暂交投于4508美元附近。在2025年的年末，全球贵金 属市场迎来了一波史无前例的强势上涨行情，黄金、白银价格持续刷新纪录，现货黄金升破4500关口，现货白银一举突破每盎司70美元的关键关口，现货铂 金也屡创历史新高，现货钯金刷新三年高点。这股涨势不仅受到了地缘政治紧张局势、美联储降息预期以及美元走软等多重因素的推动，还叠加了工业需求 强劲和央行买盘活跃的影响。 地缘局势方面，美国周二对联合国表示，将实施"最大限度"的制裁，以剥夺委内瑞拉总统马杜罗的资源，同时俄罗斯警告其他拉美国家可能成为下一个目 标。美国总统特朗普周一表示，可能保留或出售最近扣押的委内瑞拉石油，并扣留相关船只。他对马杜罗发出警告，称这是其"最后一次机会"，并强调目标 是迫使马杜罗下台。据华尔街日报报道，美国本周向加勒比海地区调遣大量特种作战飞机和运输机，包括至少10架CV-22鱼鹰倾转旋翼机和C-17运输机，这 为潜在军事行动提供了更多选项。 在乌克兰方面，俄罗斯导弹和无人机袭击造成至少三名乌克兰人死亡，包括一名儿童，并引发大范围断电 ...

（截至12月23日19:26分，伦铜的价格走势） （文华综合） 受美元走软及供应紧张相关担忧支撑，伦敦金属交易所（LME）期铜再创历史新高，三个月期铜合约升穿12,000美元/吨，稍早高见12,038.50美元/吨。 ...

来源：格隆汇APP 格隆汇12月23日｜黄金价格在周一创下新高后继续上涨，原因是避险需求和美元走软，且市场预期美联 储明年将进一步降息。Pepperstone研究策略师艾哈迈德•阿西里表示，低利率和疲软的美元环境自然会 提高贵金属的相对吸引力。金价向4500美元的水平迈进反映出市场已适应金价高涨，而不是因为投机客 炒作才暂时推高价格。 ...

Group 1 - Gold stocks experienced a pre-market surge, with Hycroft Mining (HYMC.US) rising over 21%, Coeur Mining (CDE.US) up over 5%, AngloGold Ashanti (AU.US) increasing over 4%, and Newmont Corporation (NEM.US) gaining over 3% [1] - Silver stocks also saw collective gains in pre-market trading, with First Majestic Silver (AG.US) rising nearly 4%, Endeavour Silver (EXK.US), and Dolly Varden Silver (DVS.US) both increasing over 4% [1] Group 2 - The price of spot gold rose nearly 2% to surpass $4420 per ounce, reaching new highs, with a year-to-date increase of over 68% [1] - Spot silver prices increased by 2.6% to exceed $69 per ounce, also hitting new highs, with a year-to-date rise of over 140% [1]

黄金白银股盘前上涨，哈莫尼黄金涨4.4%，科尔黛伦矿业、金田涨3.6%，泛美白银涨3.4%，纽曼矿 业、巴里克矿业、埃氏金业涨2.5%。消息面上，受市场对美联储进一步降息的预期、持续的避险需求 以及美元走软的提振，现货黄金突破4420美元/盎司，屡创新高，年内累计上涨超68%；现货白银价格 突破69美元/盎司，亦创新高，年内累计上涨超140%。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：山上 ...