经济观察网 据央视新闻客户端消息，德国经济和能源部长赖歇当地时间1月28日在柏林表示，美国提高 关税正在对全球贸易造成压力，这些关税阻碍了既有的供应链。 赖歇表示，2025年1月至11月，德国对美国的出口额同比下降了9.4%。 赖歇同时称，美国总统特朗普近期的关税威胁，例如美国最近对欧盟威胁加征的关税，也造成了不确定 性，当前全球地缘政治紧张局势持续升级，美国不断升级的贸易政策只是其中一个因素；乌克兰局势， 以及持续不断的冲突，则是另一个因素。由于国际形势变化，德国工业正面临着巨大的逆风。 ...

捷孚凯专家罗尔夫·比克尔表示，德国消费者信心在经历上月明显下滑后有所回升，但整体仍处于偏低 水平，此轮改善趋势能否持续仍待观察。持续的地缘政治紧张局势以及贸易冲突升级，可能再次对市场 情绪构成冲击，因此当前回暖基础尚不稳固。 新华社柏林1月28日电（记者车云龙）德国市场研究机构捷孚凯28日发布报告显示，德国消费者信心先 行指数在经历年初大幅走弱后出现回升迹象。2月该指数较1月修正后的数据上升2.8点，至负24.1点。 自1980年起，捷孚凯每月对大约2000名德国消费者进行信心指数问卷调查。该指数是预测德国经济走势 和居民消费趋向的先行指标。（完） 报告显示，反映德国消费者信心的经济前景、收入预期和购买倾向等三项关键指标环比均上升。与去年 同期相比，消费者对未来12个月德国经济前景明显更为乐观，认为经济正逐步走出低迷并重回温和增长 轨迹。收入预期指标上升主要得益于今年初法定最低工资标准上调，这有助于提振消费环境。 ...

美元走弱之外，地缘政治紧张局势升温进一步放大黄金的避险属性，推升市场需求。一月份以来，全球地缘格局不确定性显著上升，特朗普政府的一系列激 进外交和贸易表态持续搅动市场。他曾公开威胁接管格陵兰、计划对欧洲国家加征更多关税，甚至对美联储主席杰罗姆·鲍威尔提出刑事指控，还被曝出监 督对委内瑞拉总统的绑架行动，这些极端言行大幅加剧全球市场恐慌情绪。 周六，特朗普的最新表态再度引发市场震动：若加拿大与中国达成贸易协议，将对加拿大商品征收100%关税。这种单边贸易威胁破坏全球贸易秩序稳定， 也让投资者对全球经济复苏前景更添忧虑。黄金作为全球公认的传统避险资产，成为投资者规避风险、保全资产的首选，大量资金涌入直接推动金价进一步 走高，这也是其逼近历史新高的核心动力之一。 当前市场焦点全部集中在周三稍后美联储的利率决议上。从市场普遍预期来看，美国中央银行大概率维持联邦基金利率在3.50%至3.75%的现有区间。此次 暂停调整利率，是去年年底美联储连续三次下调基准利率后的谨慎选择，体现出美联储对当前美国经济形势的判断——需兼顾经济复苏节奏与通胀、市场波 动压力，因此选择暂稳利率，观察后续经济数据变化。 对黄金市场而言，利率决议 ...

1月26日，现货黄金价格强势突破5000美元/盎司关口，盘中最高触及5111美元/盎司，实现连续六个交易日上涨。现货白银同样涨势如虹，在突破100美元/盎 司关口后攀升至110美元/盎司附近。据多家机构分析，价格很可能继续上涨。 技术分析显示，黄金已连续六个月上涨，2026年迄今涨幅达18%，而2025年全年涨幅高达65%。本轮上涨动力源于多重因素共振：美联储降息预期、格陵兰 地缘政治紧张局势升级、特朗普关税威胁、美元走弱，以及各国央行大幅减持美债转向黄金储备。 "现货黄金强势突破5000美元/盎司关口，这是一种全新形态的避风港。"Cashify Gold（知名国际加密货币交易所）首席执行官雅各布·巴托谢克指出，这一纪 录是国际市场对达沃斯经济论坛上所传出信号的直接回应——投资者正在对特朗普相关风险进行定价，无论是其提出的可能动摇联合国根基的"和平委员 会"计划，还是收购格陵兰岛的提议。 | 机构 | 目标价格 | 大体时间 | 关键驱动因素 | | --- | --- | --- | --- | | 高盛 | 5400美元 | 2026年12月 | 央行买入,私人资产多元化 | | 美国银行 | 6000美 ...

波黑国家台1月26日报道。由于投资者因地缘政治紧张局势寻求更安全的资本避风港，黄金价格延续上 涨趋势，当日每盎司金价历史上首次突破5000美元大关。 上周，美国与欧盟因格陵兰问题导致紧张局势升级，引发了全球金融市场的动荡，推动黄金价格大幅上 涨。26日晨金价继续上涨0.9%，达到每盎司5029美元。 去年，得益于美国利率下调、汇率波动、各国央行需求以及黄金基金创纪录的资金流入，这一贵金属价 格累计上涨64%。独立分析师罗斯.诺曼表示，预计今年金价可能达到每盎司6400美元，年均价格或维 持在5375美元左右。(驻波黑使馆经商处) ...

新华社北京1月26日电 国际现货黄金价格26日突破每盎司5100美元，再创历史新高。多家外媒分析，地缘政治紧张局势和美元信用下滑等因素推升金价。 现货黄金价格当天盘中突破每盎司5100美元，日内涨2.24%。现货白银价格当天一度涨至每盎司109.43美元，也创历史新高。 美国消费者新闻与商业频道（CNBC）25日报道，近期格陵兰岛、委内瑞拉、中东地区等地的一系列事件凸显地缘政治风险升高，这增强了黄金作为对冲不 确定性工具的吸引力。英国汇丰银行上周发布的研究报告写道："近期金银价格进一步上涨，在与格陵兰岛相关的地缘经济问题推动下实现。" 这是2025年10月23日在科威特首都科威特城一家金店内拍摄的黄金饰品。新华社发（阿萨德摄） 英国《卫报》16日报道，随着美国总统特朗普频繁打破规则行事，官方机构和私人投资者正争相购买黄金。过去十年间，黄金在全球中央银行储备中的占比 已翻番，超过25%，创近30年来最高水平。 法国卡米尼亚克资产管理公司首席经济分析师拉斐尔·加拉尔多说："当我们看到美国的所作所为时，这简直是丛林法则。" 他说："私人和主权投资者都认为，以美元计价的战略储备不再安全，因为它们可能在一夜之间被没收。 ...

Market Overview - The A-share market opened higher but experienced fluctuations, with the Shanghai Composite Index closing at 4141.01 points, a slight increase of 0.12% [1] - The Shenzhen Component Index fell by 0.74%, and the ChiNext Index dropped by 0.86% [1] Individual Stock Performance - A total of 3756 stocks declined, while 1606 stocks rose, with 50 stocks hitting the daily limit up [2] - The total trading volume in the Shanghai and Shenzhen markets reached 2.24 trillion yuan, an increase of 347.8 billion yuan compared to the previous trading day [2] Sector Performance Precious Metals - The precious metals sector saw significant gains, with stocks such as Hunan Gold (002155) hitting the daily limit up, and others like Jin Hui Shares (603132) and Zhao Jin Gold (000506) also achieving 10% limit up [3][5] - The price of spot gold surpassed $5000 per ounce for the first time, increasing by over 1%, while spot silver rose by over 5% [5] Oil and Gas - The oil and gas sector experienced a rally, with major companies like China Petroleum and China Oil & Gas seeing increases of over 4% [6] - International oil prices surged, with WTI and ICE crude oil both rising by over 3% due to escalating geopolitical tensions [6] Financial Sector - The financial sector showed upward movement, with securities stocks rising, and insurance and banking stocks also performing well [8] - Notable gains were seen in stocks like Caitong Securities (601108) and Xingye Securities, both increasing by over 4% [9] Alcoholic Beverages - The liquor sector faced a downturn, with a decline of over 1%, particularly affected by a significant drop in Yanghe Shares (002304), which fell by over 8% [13] - Yanghe Shares projected a net profit decline of 62.18% to 68.30% for the fiscal year 2025, indicating potential financial distress [14]

Group 1 - The core viewpoint of the news highlights the significant rise in silver prices, with Silver Yunnan experiencing a 10.03% increase and achieving a five-day trading limit, reflecting strong market performance [1] - Silver Yunnan is identified as a major comprehensive multinational non-ferrous group in China, focusing on a full industry chain that includes mining, selection, smelting, trading, and new materials, producing over 1,000 tons of silver annually, which accounts for approximately 10% of the national capacity [1] - The current market conditions are influenced by the spot gold price surpassing $5,000 per ounce and spot silver reaching new highs, alongside a notable increase in silver production forecasts from Pan American Silver for Q4 2025 [1] Group 2 - There is a notable increase in the allocation of active equity funds towards the non-ferrous sector, with a significant rise in the proportion of non-ferrous metal positions [1] - Global central banks are entering a new phase of gold purchasing, with continued net buying of gold by various countries, which is expected to further boost demand for precious metals [1] - Geopolitical tensions, particularly between the US and Europe regarding Greenland, are escalating, contributing to a favorable environment for precious metals as the dollar weakens [1]

Core Viewpoint - The prices of precious metals have surpassed the significant threshold of $5,000 per ounce for the first time, indicating a notable shift in market dynamics [1] Group 1 - Precious metal prices have reached a new high, climbing above $5,000 per ounce [1]

Group 1: Gold Market - Spot gold prices have historically surpassed $5000 per ounce for the first time, just over 100 days after breaking the $4000 mark, driven by central bank purchases, geopolitical tensions, and economic uncertainty [3] Group 2: Middle East Tensions - The Israeli Defense Forces have entered a state of high alert, closely monitoring regional tensions and preparing for potential U.S. military actions against Iran that could have repercussions for Israel [5] - Iranian armed forces have declared a state of full readiness, emphasizing their capability to respond to any military aggression, particularly in the strategic Strait of Hormuz [6] - Turkey's Foreign Minister has warned external powers against attempting regime change in Iran, asserting that the current situation will not lead to such outcomes [7] Group 3: Chemical Industry - The chemical futures market has shown a collective strengthening, with significant price increases in aromatics such as pure benzene and styrene, which have become the core drivers of the sector's growth [9] - Pure benzene futures rose from 5573 yuan/ton to 6056 yuan/ton, an increase of 8.67%, while styrene futures increased from 7124 yuan/ton to 7708 yuan/ton, up 8.19% [9] - The recent price surge in ethylene glycol futures is attributed to market interest in undervalued chemical assets, despite ongoing supply pressures from new production capacities expected in 2026 [10][13] - The price increases in pure benzene and styrene are driven by market sentiment and supply disruptions, with styrene prices reaching a six-month high due to unexpected plant outages [11] - Upcoming restarts of styrene production facilities are expected to increase supply, potentially exerting downward pressure on prices [12]