国泰海通研报指出，本轮黄金价格的大幅下跌主要是前期超涨、资金杠杆较高、交易拥挤情况下的正常 调整，并不改变黄金长期上涨的牛市格局。中长期来看仍可关注黄金的布局机会。 ...

2026年1月31日凌晨，现货黄金价格一根大阴线直接砸到4682美元/盎司，创下近40年来最大单日跌幅。全球市场跟着一起"跪"：COMEX黄金期货跌了 8.88%，国内黄金T+D跌了9.47%。 可更魔幻的是——有人半夜睡不着在割肉，有人一大早排队抄底，尤其是金店里，阿姨叔叔们排成长龙，55岁以上顾客占比居然高达62%。 同一场暴跌，不同的人，完全不一样的选择。 如果不是亲眼看到，你可能很难相信——黄金这种在很多人心里"比房子还稳"的东西，居然能在一天之内跌掉12.92%。 一、谁在这个节点买黄金？谁在这个节点卖？ 先看一个简单的画面对比： 线下金店： 北京菜百这类老牌金店里，清一色的"银发族"在挑金条、问克价、算总价，动作不急不躁，很多人还带着小本子记账。 线上平台和交易软件： 年轻投资者在手机前刷着K线，看到一根接一根的跳水，心态直接崩了： "完了完了，再不跑就要被埋了！" 于是各种止损、平仓、割肉，接连上演。 同样是黄金，一个在买，一个在卖。 "放着心里踏实"。 在他们眼里，短期跌一点不算什么，只要长期不归零，就是好东西。 这次暴跌，在他们的认知里反而是——"打折了，能多买点"。 2. 他们不玩杠杆，只 ...

Gold (GC=F) futures opened at $4,844.70 per troy ounce on Thursday, down 2.1% from Wednesday’s closing price of $4,950.80. The opening price was 13.3% lower than the high of $5,586.20 achieved on Jan. 29. A stronger U.S. dollar kept the gold price down today. The US Dollar Index (DX-Y-NYB) is up 0.2% in the last day and 0.9% in the last five days. In the absence of fresh headlines related to interest rates, tariff threats, and changing U.S. foreign relations, investors may also be more focused on the de ...

"回购金条的这边排队，回购金饰的排旁边。别挤，一个一个来。"2日，北京市西城区北京菜市口百货股份有限公司（下称菜百）回购柜台的工作人员对 着前来变现黄金的顾客一遍一遍重复着说。 近日，现货黄金价格持续走弱。2日，现货黄金价格盘中一度下探至4402.06美元/盎司，跌幅达10.07%。 同日，中新经纬以投资者身份走访菜百时发现，在金价下跌的情况下，不少投资者选择卖出金条或黄金首饰，上午10点30分左右，菜百回购柜台排队近 200人。 有人变现200多万元 走进菜百3楼，一下电梯就看到工作人员举着"回购业务验证队尾"牌子站在队尾，还有多位工作人员在维持现场秩序。 菜百黄金回购业务排队现场 中新经纬 李自曼摄 "上周刚入手了一条10克左右的黄金项链，一克1650元，没过两天就降了，跌得也太快了。赶紧先出手卖掉，等过两天便宜了再买。"在菜百回购柜台排队 的吴女士对中新经纬说。 另一位要变现黄金首饰的投资者刘女士表示，她昨天（2月1日）下午来菜百时，菜百已停止回收。所以今天上午又过来了，没想到今天又跌了。 "这么跌下去，还是早点落袋为安吧。"刘女士说，她的两个金手镯约60克，当初的入手价约300元/克，若按回购价106 ...

Core Viewpoint - The recent significant fluctuations in gold and silver prices have led to a cooling of investor enthusiasm for physical gold, with some investors opting to wait and observe the market [2][3]. Group 1: Price Movements - As of February 2, spot gold has dropped by 6.80% to $4,562 per ounce, while spot silver has decreased by 11.46% to $75.49 per ounce [2]. - In January, gold prices surged, with COMEX gold futures reaching over $5,600 per ounce, marking a monthly increase of over 29%, while COMEX silver futures peaked at $120 per ounce, with a monthly rise of 72% [3]. - On January 30, both gold and silver prices experienced a sharp decline, with COMEX gold futures falling by 8.35% to $4,907.50 per ounce and COMEX silver futures dropping by 25.50% to $85.25 per ounce [3]. Group 2: Investor Behavior - Following the price drop, some investors have chosen to wait rather than invest in physical gold, as evidenced by the availability of gold bars in banks that were previously sold out [2][3]. - Various banks have reported a shift in inventory status, with some gold products now showing sufficient stock, contrasting with the previous high demand [5][6]. Group 3: Market Sentiment - Investor sentiment has become polarized, with some believing that gold prices will continue to decline, while others are taking the opportunity to buy at lower prices [7]. - The World Gold Council reported that global gold demand is expected to exceed 5,000 tons by 2025, driven primarily by strong physical gold investment demand [7]. Group 4: Institutional Insights - Analysts suggest that the recent volatility in gold prices is influenced by market sentiment and speculative factors, making it difficult to predict price movements accurately [9]. - Despite short-term risks, many institutions maintain a positive long-term outlook for gold, with expectations of a return to upward trends later in the year [8].

21世纪经济报道记者冯紫彤 北京报道 菜百总店共四层，步入其中，能清晰感受到楼层之间微妙的"温差"。一楼首饰金、三楼回收区人声鼎沸；二楼珍珠钻石区则店 员比顾客多，冷清得像另一个世界。而在四楼，投资金条柜台被围得里三层外三层，与之咫尺之遥的玛瑙、蜜蜡等彩宝柜台则 几乎无人驻足。 2月1日上午11点，菜百首饰（下称"菜百"）总店三楼"旧金回收"柜台前，队伍已蜿蜒排至电梯口，粗略有三五百人。空气里是嗡 嗡的交谈声，混合着一种克制的焦灼。 有身穿制服的工作人员举着"回收业务验证队尾"的醒目牌子，身旁不断有人凑上来问："还得排多久？""起码三个半小时。"回答 简洁，没有余地。"那啥时候人能少点？"有人不甘心。"不好说，"工作人员表示。" 在这里，黄金的金融属性，压倒了一切装饰价值。 为卖金排队三小时 家住石景山的李阿姨是这里的"常客"。她几乎每天驱车二十公里来菜百，称这里是"学习的地方"。"你得感受这个氛围，听大家 怎么说，看价格怎么走。" 当日，她计划卖掉去年购入的一根50克金条，"那会儿八百多一克买的，先卖了，落袋为安。"记者问："不再等等？万一还涨 呢？"李阿姨摆摆手，"我还有前段时间一千左右买的，那些留着，等 ...

作者 | 第一财经 安卓 2月2日，黄金、白银价格继续剧烈波动。截至记者发稿，现货黄金跌6.80%，报4562美元/盎司；现货白银跌11.46%，早间曾一度转涨，但随后又大 幅下挫，报75.49美元/盎司。 第一财经发现，随着黄金、白银价格持续大幅下挫，人们投资实物黄金的热情有所松动，部分投资者选择观望，此前日日被抢断货的银行金条也出现了 库存，部分银行的实物金条甚至显示为"库存充足"状态。 2026.02. 02 本文字数：2352，阅读时长大约4分钟 投资情绪降温 今年1月，贵金属经历了历史罕见的上涨行情。去年12月底至1月28日，市场对美联储的独立性担忧、地缘风险中枢上行及弱美元预期等，直接催化 COMEX黄金期货于1月29日突破5600美元/盎司，月内最高涨幅超过29%，COMEX白银期货突破120美元/盎司，月内最高涨幅甚至达到72%，不断 刷新历史。 1月30日，黄金、白银价格同步上演"高台跳水"，其中，COMEX黄金期货跌8.35%报4907.50美元/盎司，COMEX白银期货跌25.50%报85.25美元/ 盎司。 业内普遍认为，本次黄金"巨震"，直接原因或是美国总统特朗普提名凯文·沃什为新任 ...

Core Viewpoint - The recent sharp decline in gold prices is attributed to multiple negative factors rather than a fundamental collapse of gold's value, indicating a temporary market reaction [3]. Group 1: Market Dynamics - The primary trigger for the gold price drop is the anticipated leadership change at the Federal Reserve, with the nomination of hawkish figure John Taylor, who is expected to tighten monetary policy, leading to a stronger dollar [3]. - The price of international spot gold closed at $4,880.034 per ounce, with a single-day drop exceeding 9%, and it briefly fell below the $4,700 mark [2]. - The previous rapid increase in gold prices led to profit-taking among investors, resulting in a "stampede" sell-off, particularly among leveraged speculators who triggered automatic sell orders during the volatility [3]. Group 2: Investment Strategy - Investors are advised to avoid a mindset of "getting rich overnight" and not to engage in panic selling or impulsive buying during this period of adjustment [4]. - The current market fluctuation is seen as a necessary pause for gold, allowing for the elimination of weak hands and leaving behind those who believe in gold's long-term value [4]. - It is recommended to remain calm and observe the market without making hasty decisions, as the long-term bullish logic for gold remains intact despite short-term volatility [4].

2.2黄金行情走势分析： 前言： 2025年的黄金市场，既有数字增长的收获，更领悟了"顺势而为、坚守本心"的智慧。市场不缺机会，缺 的是看透本质的认知与抗波动的定力，这份收获是对理性判断与长期主义的最好印证。2026，新一年， 带着沉淀继续稳步前行即可。 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？ 周一（2月2日）亚市时段，现货黄金在获利了结盘压力下大幅下挫，延续前两个交易日跌势，现交投于 每盎司4555美元附近，日内跌幅约6%，截至13:54，此前一度跌至三周低点4497.39美元/盎司，上周五 金价跌幅近10%。此前，凯文·沃什被提名为下一任美联储主席的消息缓解了市场对美联储独立性的担 忧，美国政治稳定性显现迹象，促使金价在上周创下历史高点后延续跌势。另一方面，包括美伊紧张局 势缓解在内的地缘风险支撑部分退场，可能削减黄金等传统避险资产吸引力。交易员将密切关注美伊谈 判进展，以及沃什政策方向的进一步明朗化。不过，主要央行的购金需求料将在一定程度上限制金价下 行空间。美国供应管理协会（ISM）制造业采购经理人指数（PMI）数据将于周一晚些时候公布，预计 1月数据将从12月的47.9改善至48 ...

Core Insights - The recent volatility in gold prices has led to a surge in consumer interest in buying and selling gold, particularly at the Cai Bai store in Beijing, which serves as a barometer for gold consumption in the city [1][14] - On February 2, the international spot gold price dropped below $4,450 per ounce, marking a new low since January 8, with a decline of over $430 from the day's peak [2][16] - The demand for gold repurchase is high, with many customers exchanging old jewelry for new items or selling gold to pay off mortgages [2][20] Consumer Behavior - The Cai Bai store has seen a significant increase in foot traffic, with crowded scenes at gold jewelry counters and repurchase windows [1][14] - A customer reported exchanging a gold necklace for a new one at a price lower than the market rate, indicating a trend of consumers capitalizing on current gold prices [2][20] - Many individuals are looking to liquidate their gold holdings, with one customer planning to use the proceeds to help pay off her child's mortgage [20] Investment Trends - The investment in gold bars is particularly popular among younger consumers, with one individual planning to purchase 450 grams of gold this year, significantly more than previous years [12][25] - A new policy requires full payment for investment products within one hour of issuing a sales receipt, reflecting the increased demand and the need to maintain transaction order [12][25] - Banks are experiencing a shortage of physical gold bars, with many products sold out since January 30, indicating a supply chain strain in the gold market [13][26]