随着印度制造业活动持续增长，用于钢材防腐蚀镀层的锌材本土需求保持强劲。 占据国内锌市场近四分之三份额的印度斯坦锌业公司表示，本季度锌业务收入增长约2%，白银业务收 入增长10%。 公司总营收增长3.6%，达854.9亿卢比。 这家印度最大精炼锌生产商表示，截至9月30日的季度合并净利润从去年同期的232.7亿卢比增至264.9亿 卢比。 印度斯坦锌业是全球第三大白银生产商，也是印度最大的综合性白银企业。印度作为全球最大白银消费 国，其国内白银需求在9月季度激增——因白银价格创历史新高，消费者将白银视为黄金的替代投资 品，同时工业需求也持续增长。 分析师此前预计白银价格同比涨幅可能在32%至39%之间。 与此同时，分析师预估同期锌价涨幅接近2%。 10月17日（周五），印度斯坦锌业公司（Hindustan Zinc）公布，受白银价格创历史新高、锌价稳步攀 升以及需求强劲支撑，其第二季度利润增长近14%。 ...

Core Viewpoint - The prices of gold and silver have surged significantly since October, with gold reaching $4,300 per ounce and silver gaining over 87% year-to-date, leading to increased interest and investment in silver as an alternative to gold [1][4][6]. Price Trends - As of October 17, 2023, international gold prices opened at $4,392 per ounce, marking a year-to-date increase of over 60%, while silver prices reached $54.17 per ounce, with domestic investment silver prices exceeding 12 yuan per gram [4][6]. - The price ratio of gold to silver has shifted to approximately 80:1, indicating that silver may be undervalued compared to historical averages [11]. Market Dynamics - The surge in silver prices has led to a notable increase in consumer interest, with reports of significant sales volumes, such as over 100 kilograms of silver sold in a single day by some dealers [1][6][9]. - Many gold merchants are now promoting silver products, highlighting their cost-effectiveness, as evidenced by a doubling of silver board sales in the past month [7][9]. Investment Behavior - Investors are increasingly turning to silver due to its lower entry cost and higher potential returns compared to gold, with some reporting profits of over 20,000 yuan within a week of investing in silver [6][10]. - The market is seeing a mix of industrial demand and speculative investment, which may amplify price volatility, especially as silver prices continue to rise [11][13]. Future Outlook - Analysts suggest that while silver has strong upside potential due to industrial demand and economic recovery, its price volatility and associated risks are higher than those of gold [11][13]. - The silver market is expected to benefit from increased industrial demand, particularly in the context of green energy transitions, which could further support price increases [11].

Group 1 - The core viewpoint is that the gold market is experiencing a significant upward trend, with prices reaching as high as 4380, surpassing previous expectations of 4300 [4][5] - Following the breakout above 4000, the potential for gold prices to reach 4200 and 4500 is emphasized, with the current focus on whether the upward momentum can continue towards 4500 [4][5] - The silver market is also showing a bullish trend, with expectations for prices to reach 55, having already approached 54.5 [6] Group 2 - The article highlights the importance of maintaining a cautious trading strategy, suggesting to wait for pullbacks to key support levels before entering long positions [5][6] - In the domestic market, gold prices have surged to around 1000, with a recommendation to remain on the sidelines and avoid chasing prices due to potential selling pressure [5] - The outlook for crude oil is bearish, with prices retreating to around 57, and a suggestion to maintain a neutral position until clearer trends emerge [6][7]

近日，中国银行、工商银行等多家银行纷纷发布公告，调高积存金购买门槛，幅度从100元至150元不等。这背后 是金价自8月底以来的猛涨。世界黄金协会数据显示，前三季度，金价累计涨幅达47%。进入10月，现货金价更是 接连突破4000美元/盎司、4100美元/盎司和4200美元/盎司三个大关。 专家建议，普通投资者在投资黄金时可分批操作，同时可关注黄金ETF，此外应合理控制杠杆使用。对于将目光 瞄向白银的部分投资者，专家表示，可根据自己的实际需求，审慎决策，多元化配置资产。 多家银行上调积存金起购门槛 近日，中国银行发布公告称，于10月15日起调整积存金产品的购买条件：按金额购买积存金产品或创建积存定投 计划时，最小购买金额由850元调整为950元，追加购买金额维持200元整数倍不变。已在执行中的定投计划不受影 响。 工商银行也发布公告称，自10月13日起，该行如意金积存业务最低投资额（即积存起点金额）由850元上调至1000 元；按克数积存的积存起点仍为1克。 工商银行还发布关于防范贵金属价格波动风险的提示，建议投资者关注市场变化，提高风险防范意识，基于财务 状况和风险承受能力购买黄金，同时注意分散配置，避免单一 ...

今早一觉醒来，黄金又"涨疯了" 再创历史新高 现货黄金周四早盘升破4220美元/盎司，连续4个交易日创下新高，本周累涨200美元。 | COMEX重等 | | --- | | GC00Y延 | | 4241 2 今开 4225.1 最高 4248.0 最低 4214.5 | | 3484 0.94% 396 冠手 44496 持仓 37.38万 日增 | | 重多 结算 昨结 4201.6 | | 鱼客户 分时 王日 圓K 月к | | 均价:4233.9 最新:4241.2 39.6 0.94% | | 4248.01 1.10% 卖1 4241.2 | | 买1 4241.0 13 分时成交 | | 22:32 4241.5↑ 22:32 4241.5 | | 22:32 4241.61 | | 22:33 4241.7↑ 4201:6- | | 22:33 4241.7 | | 22:33 4241.81 | | 22:33 4241.91 | | 22:33 4241.74 | | 22:33 4241.54 | | 22:33 4241.44 | | 4241.4 4 400 == VV 4155. ...

周三(10月15日)亚洲时段，现货白银价格向上攀升，重回52美元上方，欧市盘中，白银价格持续登高， 走势大幅上涨，现报52.95美元/盎司，最高触及53.00美元/盎司，最低下探51.34美元/盎司。银价正逼近 53.20美元/盎司水平。今晚关注美联储理事米兰发表讲话。 【要闻聚焦】 美联储理事鲍曼周二表示，她仍预计美联储将在2025年最后两次货币政策会议上继续降息。"我仍认为 今年年底前还会有两次降息。"鲍曼称："只要劳动力市场和其他经济数据按我预期的方向发展，我们就 会继续沿着降低联邦基金利率的路径前进。" 在7月会议上曾投票反对维持利率不变、主张提前启动降息后，鲍曼在上月决议中支持降息。与她一同 在7月会议中持异议的还有沃勒，两人均由特朗普在其首个任期内提名进入美联储理事会。鲍曼和沃勒 此前均表示，特朗普政府重启的关税措施不会导致持续性通胀，而当前风险平衡更偏向于劳动力市场。 今天白银继续保持多头看涨趋势不变，上方则关注前高53.5是否破位，不破就短线看，破位就看55高 点。达到严重超卖水平后，在相对强弱指标上形成正背离的支撑下，随着积极信号的出现，在短期主要 看涨趋势占主导地位。 晚间交易提醒： 17 ...

Core Insights - Metals Focus predicts that silver demand in the Indian market will remain strong in the coming months, supported by positive market sentiment and rising GDP growth [1][2] Group 1: Silver Price Trends - Silver prices have significantly increased this year, with international prices rising approximately 65% and domestic prices in India increasing over 70% due to the depreciation of the Indian Rupee [1] - Current local silver prices are around 150,000 INR per kilogram, marking a critical psychological threshold [1] Group 2: Import Dynamics - Silver imports in India have surged since September, with October's local silver premium rising to 1-1.5 USD per ounce, indicating strong demand [2] - In the first eight months of 2025, India's total silver imports reached 3,288 tons, with September's imports estimated at around 800 tons, exceeding 4,000 tons year-to-date, nearly 10% higher than the average of the past five years [2] Group 3: Investment Demand - The primary driver of silver demand in India this year has been investment purchases, while jewelry and silverware sectors have shown weakness, although there has been some recent recovery [3] - Investor confidence remains high due to the sharp rise in silver prices, with many expecting prices to reach 200,000 INR per kilogram in the medium term [3] Group 4: Exchange-Traded Products (ETPs) - Strong inflows into silver exchange-traded products (ETPs) have significantly contributed to the surge in imports, with total holdings exceeding 2,000 tons and a year-to-date increase of over 60% [4] Group 5: Jewelry and Silverware Market - Despite high silver prices suppressing jewelry demand, there has been a recent uptick in sales driven by festive and wedding seasons, with silver jewelry becoming a more affordable alternative to gold [6] - The silverware segment is expected to be the most affected by high silver prices, with manufacturers introducing lighter products to meet consumer budget constraints [6] Group 6: Future Outlook - After the festive and wedding season, silver imports may slow down, but the ongoing rise in silver prices is expected to attract new investment purchases [7]

当黄金价格居高不下，越来越多的投资者开始寻求"平替"，将目光转向性价比更高的白银。 10月14日，记者前往深圳水贝市场，探访全国最大的黄金珠宝集散地。记者注意到，往日黄金档口门庭若市，如今银条柜台前同样人头攒动。 "现在黄金已经900多一克，太贵了，我们普通投资者根本买不起。"陈女士向记者说道，"相比之下，白银才十几块一克，价格亲民，而且最近涨得也不 错，我觉得是个不错的机会。" 不过也有专家提示，白银虽然目前涨势强劲，但相比黄金，白银的价格波动性更大，投机属性更强，投资门槛看似低，实则风险不容忽视。 白银近期涨势强劲，迅速激活了投资需求。10月14日，伦敦现货白银价格突破53美元/盎司，续创历史新高。今年以来，现货白银累计涨幅已超过70%， 远超黄金54%的涨幅。 水贝市场现白银投资热潮 在国际银价持续飙升的背景下，白银正悄然成为投资者眼中的"香饽饽"。黄金不再一枝独秀，白银也正以其亲民的价格和上涨的势头，吸引着越来越多投 资者的目光。 记者在现场走访时注意到，尽管是工作日的上午，水贝黄金珠宝市场依旧人头攒动，热闹非凡。各色珠宝商铺门前，顾客络绎不绝。 在一家专营贵金属的档口前，记者看到，一名中年女性顾客陈 ...

Core Viewpoint - The recent surge in gold and silver prices is driven by geopolitical tensions, macroeconomic uncertainties, and increased demand for safe-haven assets, with gold prices surpassing $4000 per ounce and silver prices reaching historical highs [1][3][4]. Group 1: Gold Market Analysis - On October 13, the domestic futures market saw the Shanghai gold main contract reach a new high of 928.88 yuan per gram, closing up 1.99% [1]. - Internationally, the London spot gold price also rose, breaking the $4070 per ounce mark [1]. - Since late September, international gold prices have increased significantly, with a weekly rise of 3.4% for gold and 4.47% for silver, leading to a gold-silver ratio drop to around 81 [3]. Group 2: Market Positioning and Holdings - As of September 23, the total gold holdings reported by the U.S. CFTC increased by 12,568 contracts to 528,789 contracts, with non-commercial net positions rising by 339 contracts to 266,749 contracts [3]. - Silver holdings also saw an increase, with total holdings up by 2,851 contracts to 165,805 contracts, and non-commercial net positions rising by 738 contracts to 52,276 contracts [3]. Group 3: Geopolitical and Economic Influences - The ongoing U.S. government shutdown is impacting economic stability and diminishing the long-term credit appeal of the U.S. dollar and assets, potentially leading global central banks and investors to increase gold holdings as a hedge against political risks [3]. - The first phase of the ceasefire agreement in Gaza, while initially bearish for gold prices, is overshadowed by ongoing geopolitical tensions from the Russia-Ukraine conflict and other regional issues [4]. Group 4: Silver Market Dynamics - The average weekly price for 1 silver ingots was 10,975 yuan per kilogram, up 670 yuan from the previous week [4]. - COMEX silver futures saw a non-commercial long position increase of 695 contracts to 72,318 contracts, while short positions decreased by 43 contracts to 20,042 contracts [4]. Group 5: Future Outlook - If the U.S. government shutdown persists, it may lead to a lack of clear economic data, increasing the likelihood of the Federal Reserve adopting a more accommodative monetary policy to counteract recession risks [4]. - Despite the recent price increases, potential corrections may occur if budget disagreements in the U.S. are resolved or if Federal Reserve officials issue hawkish statements [5]. - The long-term outlook for precious metals remains strong as they are viewed as valuable safe-haven assets amid ongoing economic uncertainties [6].

市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 风险提示及免责条款 现货白银日内涨幅达2%，报50.23美元/盎司。 ...