中经记者 罗辑 北京报道 1月26日，现货黄金价格冲高，首次突破5100美元/盎司的关键心理整数关口。 据高盛最新预测，到2026年年底，黄金目标价将升至5400美元，此前预期为每盎司4900美元。上调理由 是私人部门投资者和中央银行对黄金的需求不断增长。 （编辑：曹驰 审核：夏欣 校对：颜京宁） 高盛预计，各国央行2026年每月将购买60吨黄金，同时随着美联储降息，黄金ETF的持有量也将增加。 各国央行已开始通过传统的ETF，与私人部门投资者争夺有限的黄金。 ...

记者丨叶麦穗 编辑丨包芳鸣 2026年金银价格表现持续突破市场预期。 1月26日北京时间14点50分左右，现货黄金价格首次站上5100美元/盎司关口，最高触及5111.17美元/盎司，年内涨幅超18%。白银涨势更为强劲，1月26日白 银价格最高触及109美元/盎司，在短短17个交易日内涨幅超51%，成为当下表现亮眼的投资品种。金银价格的快速攀升，直接引爆市场投资与收藏需求，多 家银行部分银制品出现临时缺货情况，贵金属专用保险箱更是一席难求。 农业银行手机银行App同样显示多款银制品售罄。其中，"2克传世之宝鸿福有余银鱼""15克传世之宝生肖马银吊牌"及"500克传世之宝马生肖银条（第二 轮）"均已售罄，并开放缺货登记服务。 | 5082.262 "F& | | | 4988.170 总量 | | | | --- | --- | --- | --- | --- | --- | | +94.092 | +1.89% 开盘 | | 4988.170 现手 | | | | 最高价 | 5111.170 持 | | O 4 | | | | 最低价 | 4988.170 增 | ਦੇ | 0 内 | kl | | | 分 ...

Group 1 - The Hong Kong Financial Secretary, Paul Chan, announced at the Asian Financial Forum that investments in precious metals in Hong Kong will be included in tax-exempt investment categories for relevant funds or single family offices, with legislation expected to be submitted to the Legislative Council in the first half of this year [1][4] - A memorandum of cooperation was signed between the Hong Kong Financial Secretary's office and the Shanghai Gold Exchange during the forum, focusing on the development of the gold market [2][5] Group 2 - The memorandum includes two main arrangements: the establishment of a high-level governance structure for the Hong Kong Gold Central Clearing System, with the Financial Secretary as the chairman and a representative from the Shanghai Gold Exchange as the vice-chairman [3][6] - The second arrangement aims to explore new pathways for physical infrastructure collaboration and market connectivity, leveraging the Shanghai Gold Exchange's physical warehousing management system to provide storage services for local and international markets [3][6] - Hong Kong currently has some gold clearing and trading infrastructure, including the planned trial operation of the Hong Kong Gold Central Clearing System by 2026 to address bilateral clearing issues for over-the-counter spot transactions, and the offshore warehouse of the Shanghai Gold Exchange that was launched in June last year [3][6] - The government has reiterated its goal to increase the capacity of the gold storage facility at Hong Kong Airport from 200 tons to over 2000 tons within three years, positioning Hong Kong as a regional gold reserve hub [3][6]

Core Viewpoint - The article highlights the significant rise in gold prices, with spot gold surpassing $5000 per ounce, marking a 15% increase since the beginning of the year, which has led to increased consumer interest and activity in the gold market [3][5]. Group 1: Gold Price Trends - As of January 26, spot gold prices have reached a historic high of over $5000 per ounce, reflecting a strong upward trend in international gold prices [3]. - Domestic gold prices have also surged, with major retailers like Chow Tai Fook and Lao Piao Gold adjusting their prices to 1578 RMB per gram, an increase of 25 RMB from the previous day [3][5]. Group 2: Consumer Behavior - The rising gold prices have sparked a consumer buying frenzy, with reports of long queues at gold stores in major shopping centers, indicating heightened interest in gold purchases [5]. - Promotional events, such as the SKP anniversary celebration offering significant discounts, have further driven consumer traffic to gold retailers [5]. Group 3: Market Impact - The surge in gold prices has positively impacted gold-related stocks, with companies like China Gold and Lao Piao Gold experiencing notable stock price increases [5]. - Companies in the gold sector, such as Chao Hong Ji, are considering price adjustments in response to the rising gold prices, although specific plans have yet to be announced [5][6]. Group 4: Future Outlook - Analysts suggest that the upcoming consumption peaks during the Spring Festival and Valentine's Day may continue to support gold demand in the short term [8]. - However, there are concerns regarding potential risks, including central bank gold purchases, Federal Reserve policy changes, and macroeconomic uncertainties that could affect future gold prices [7].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2、样本覆盖时间：2025年1月1日-2025年12月24日 3、数据来源：每日互动大数据 4、偏好值TGI：指洞察人群某特征占比与全量人群该特征占比的比值，以比较人群间的特征差异。TGI 值大于1，说明洞察人群对该特征偏好明显，数值越大，偏好越明显。 洞察观点如下： 每日互动大数据洞察发现，在攒金青年中，女性用户更多；同时对比全量青年群体，女性TGI达到 1.55，远高于男性用户偏好指数。可见女性对积攒黄金等贵金属的爱好程度更高。 岁末年初，金价行情也走出几波心跳。世界黄金协会在相关市场洞察中曾提到，18至34岁的年轻人贡献 了超过三分之一的黄金首饰销售额。从"攒金豆"到囤金条，"攒金"逐渐成为一部分年轻群体的新消费方 式——既可以满足消费欲望，又一定程度上对资产进行了风险配置。我们不免好奇：这群热衷于"攒 金"的青年到底是怎样的一群人？ 据此，每日互动大数据对目前市场上主流的"攒金类"APP进行洞察，通过其APP活跃度和新增安装数的 变化来直观展示2025的"攒金赛场"；同时也对相关APP的青年活跃用户群体进行了深入洞察，来多维度 ...

| < W | 伦敦金现 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | SPTAUUSDOZ.IDC | | | | | | | | 5028.250 | | 昨结 | 4988.170 | | 开盘 | 4988.170 | | | +40.080 | +0.80% | 总量(kg) | 0.00 | | 现于 | | 0 | | 最高价 | 5031.984 | 持 仓 | | O | 外 盘 | | O | | 最低价 | 4988.170 | 壇 仓 | | O 内 | 香 | | 0 | | 分时 | 五日 HK | | 周K | 月K | | 明文 | [0] | | 音加 | | | | 均价: -- | | 盘口 | | | 5061984 -- | | | | -0.88% · 卖1 | | 5029.100 | 0 | | | | | | | 21 | 5028.250 | 0 | | | | | | | | 07:43 5027.260 | 0 | | | | | | | | 07:43 5027. ...

1月26日盘间，全球金市再度上演"狂飙"剧情，伦敦现货金价一度涨至5093.19美元/盎司，Comex期货金 价也在盘间触及5091.5美元/盎司，连续6个交易日创下历史新高！ 在黄金一路走强的背景下，金ETF（518680）今日大幅跳开，截至当前的最新涨幅为2.30%。2026年以 来，金价已接连跨越4500美元至5000美元的多个整数关口，涨势较强、持续性较优。 业内机构指出，近期金价呈现加速上涨态势，其直接催化因素在于地缘冲突风险持续发酵，而更深层次 的支撑则源于美国财政基本面的趋弱。目前，机构普遍对贵金属后市持乐观态度，强调"私人部门对冲 宏观不确定性的黄金配置正在兑现"。不过也需警惕后续潜在回调风险，以中长期的配置视角去看待黄 金的投资价值。 投资者可考虑关注富国基金旗下的金ETF（518680），其跟踪标的是上海金集中定价合约（SHAU）， 即国内黄金现货；场外投资者也可以通过金ETF联接基金（A类009504/C类009505）来布局。金ETF （518680）年内已上涨超16%，持续吸引资金流入。截至2026年1月23日，金ETF（518680）的最新规 模为73.72亿元，在同标的ETF中位 ...

总体而言，Alexandra认为，金价目前的上涨并非短期投机，而是建立在合理的基本面之上。地缘政治 风险的抬头、美联储政策的不确定性、美元弱势预期，以及央行尤其是中国人民银行的持续买盘，共同 构成了金价强劲上行的核心动力。随着金价逼近5000美元关口，市场对黄金的关注度持续升温，投资者 需密切留意地缘事件发展及央行购金动态，以评估后续走势的持续性。 金价持续攀升，突破每盎司5000美元大关，并每日刷新纪录。威廉博莱(William Blair)新兴市场债券团 队资深信用分析师Alexandra Symeonidi发表有关黄金市场的评论。她指，这波金价上涨属合理，受地缘 政治风险加剧及投资组合多元化需求推动所致。 年初以来，地缘政治风险再度成为市场焦点，金价随委内瑞拉相关消息及格陵兰的新闻而大幅上扬。投 资者对宏观环境的不确定性持续主导，美联储政策路径不明朗，美国经济前景存疑，加上下一任美联储 领导人选问题，进一步加剧市场波动。近期有关美联储相关传票的消息，更为整体市场不确定性雪上加 霜。另一方面，市场参与者普遍认为美元可能维持弱势，这一趋势持续为金价提供支撑。 Alexandra强调，地缘政治风险回归及宏观不 ...

Core Viewpoint - The article highlights the rising prices of precious metals, particularly gold, driven by increasing risk aversion and weakening dollar credit, with a long-term bullish outlook on gold prices due to ongoing U.S. debt issues and growing demand for gold investments [1] Group 1: Precious Metals Market - Risk aversion has intensified, leading to a surge in precious metal prices, particularly gold [1] - The trend of weakening dollar credit is accelerating in the short term, supporting the rise in gold prices [1] - Central bank gold purchases and increasing investment demand are expected to sustain upward pressure on precious metal prices [1] Group 2: Long-term Outlook - The macroeconomic uncertainties abroad continue to amplify gold's safe-haven attributes in the medium term [1] - The weakening dollar credit narrative has become clearer since Trump's administration, enhancing gold's monetary properties [1] - A long-term bullish outlook on gold prices is maintained, with expectations for a continued upward movement in the price center [1] Group 3: Investment Strategies - Investors are encouraged to consider participating in gold investments during subsequent price corrections and to accumulate positions gradually [1] - Direct investment in physical gold and tax-exempt gold ETFs (518800) are recommended, along with gold stock ETFs (517400) that cover the entire gold industry chain [1]

1月26日，黄金价格再度刷新历史新高。 国际金价突破5000美元关口 美国东部时间1月25日傍晚，纽约商品交易所2月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。 1月26日，现货黄金价格突破每盎司5000美元，再创历史新高。 01 截至今日（26日）上午8时许，现货黄金价格上涨1.08%，报5036.57美元，盘中一度创下每盎司5043.9 美元的历史新高。美国黄金期货价格也上涨逾1%，一度站上5080美元。 2026年以来，国际金价接连跨越4600至4900美元多个整数关口，呈现极强涨势。国内黄金消费市场上， 部分主流品牌足金饰品报价已突破每克1551元。 此外，周一其它贵金属价格也普遍上涨。白银价格涨超2%，创下每盎司106.56美元的历史新高。铂金 价格小幅上涨，达到每盎司2798.46美元的新高。 02 上涨加速 从4000到5000美元仅用3个月 之后，国际金价一路上行，至2025年10月，触及每盎司4000美元，用时7个月左右。 而国际金价自每盎司4000美元至今涨破每盎司5000美元，用时仅为3个多月。 03 金价为何暴涨？ 不同于一般投资品，黄金具备商品属性、金融属性、投资 ...