政策层面，美联储即将结束本周的议息会议。市场普遍预期政策利率将维持不变，但投资者的关注焦点 已明显从"是否调整利率"转向政策沟通与前瞻指引本身。一方面，交易层面对2026年后货币政策再度转 向宽松的定价仍未完全消退；另一方面，美联储主席鲍威尔在央行独立性问题上的立场，以及对未来数 据路径的判断，将直接影响利率预期的再定价节奏。机构普遍认为，短期内降息条件尚不充分，但政策 不确定性本身已构成对黄金的重要支撑。在低利率环境延续的背景下，无收益资产的持有成本优势依然 存在，这也是金价能够在高位维持强势的重要原因之一。 UNFX 1 月 26 日讯 随着全球风险偏好再度趋紧，黄金市场的多头动能明显增强。周一亚洲交易时段， 现货黄金强势突破5000美元/盎司这一重要心理关口后延续上行，盘中一度触及5085美元，价格运行区 间被整体抬升，刷新历史高位区间。从阶段性节奏来看，金价延续了上周以来的强势结构。上周黄金累 计涨幅超过8%，年初至今的涨幅已接近20%。在数月时间内先后跨越4000美元与5000美元两大整数关 口，价格运行斜率显著上移，反映出市场对避险资产的配置需求仍在持续强化。 近期金价快速走高的核心驱动，仍指向地 ...

截至2026年1月26日 11:10，金ETF南方(159834)上涨2.46%，冲击六连阳，盘中换手6.51%，成交1.11亿 元。 MACD金叉信号形成，这些股涨势不错！ 中金公司认为，若全球主要央行，尤其是美联储，延续降息周期，将为金价提供流动性层面的支持。同 时，若地缘风险或金融市场波动加剧，黄金的避险需求可能再次被点燃。 中信证券指出，近期金价持续上涨，反映出其货币和信用的双重属性。过去常常关注黄金的货币属性， 但现在随着美国财政危机和美国债务问题频发，黄金的信用属性也在加强。因此，在双重属性的推动 下，总体看黄金的价值仍然没有改变，黄金在2026年仍具备配置价值。 金ETF(159834)密切跟踪上海黄金交易所黄金现货实盘合约价格，透明度高而且流动性好，支持T+0日 内交易。 金ETF(159834)，场外联接(A类：018391；C类：018392；I类：021004)。 1月26日早盘，国际金价迎来里程碑式突破。现货黄金一举站上5000美元/盎司关键整数大关，盘中最高 触及5093.190美元/盎司，日内涨幅逾2%；COMEX黄金主力合约同步攀升，突破5080美元/盎司。两大 基准金价联袂刷新 ...

1月26日，现货黄金价格盘中直线拉升，史上首次突破每盎司5000美元心理大关，创出历史新高。截至发稿，金价报每盎司5082.97美元，日内涨幅达 2.02%。 国际实时金价。 此次突破是长期趋势的加速显现。回顾2025年，贵金属已成为全球表现最亮眼的资产类别之一。金价全年呈"震荡上行"格局，除年中及四季度有两段横盘与 回调外，整体维持强势。进入2026年，上涨趋势得到进一步延续和强化。 近期，多家国际投行相继上调金价预期，为市场注入强烈信心。其中，高盛在最新研报中将2026年底的金价目标从每盎司4900美元大幅上调至5400美元。摩 根大通的预测更为乐观，预计2026年第四季度金价均值将达5055美元每盎司，并指出其长期价格有望上探6000美元关口。机构观点共同指向，在全球宏观经 济不确定性、央行持续购金以及货币政策预期转向的背景下，黄金正从传统的避险资产转变为重要的战略性配置资产。 国际金价的里程碑式突破，直接反映在国内黄金消费市场。1月26日，各大主流金饰品牌零售金价应声上调，单日涨幅显著。具体来看，周大福足金价格由 1542元/克上涨至1578元/克；老庙黄金价格从1548元/克涨至1575元/克；周生 ...

Core Viewpoint - The ongoing geopolitical tensions, particularly the Greenland sovereignty dispute, are causing European investors to withdraw from US dollar assets, leading to a surge in gold demand as a safe-haven alternative [2][3]. Group 1: Gold Market Performance - As of January 26, the international gold price reached 1135.38 yuan per gram, marking an increase of 20.94 yuan, or 1.88%, from the previous trading day [1]. - Gold has shown a strong upward trend, with a weekly increase of 8.4%, representing its best performance in nearly six years [2]. - The price of gold has approached 5000 USD per ounce, with predictions suggesting it could reach 5400 USD per ounce by the end of 2026 [3]. Group 2: Investor Behavior and Market Trends - European investors are increasingly concerned about the political risks associated with US assets, prompting a shift towards gold as a safer investment [2][3]. - Major European pension funds, such as Sweden's Alecta and Denmark's AkademikerPension, are selling US Treasury bonds, reflecting a broader trend of reducing exposure to American assets [3]. - The global gold ETF market has seen record inflows, with a net inflow of 890 billion USD in 2025, doubling year-on-year [3]. Group 3: Economic Implications - The decline of the US dollar, with a nearly 9.5% drop since the beginning of 2025, is contributing to the rising gold prices and investor interest [2]. - The geopolitical crisis has led to a trust crisis in US assets, reminiscent of historical events that triggered significant shifts in monetary policy and asset valuation [2][4]. - Analysts suggest that gold is transitioning from an investment option to a strategic necessity as confidence in the dollar wanes [4].

Core Viewpoint - The gold market is experiencing a significant surge, with the international spot gold price stabilizing above $5000 per ounce, leading to a strong rise in domestic gold ETF (518800) [1][2] Fund Performance - As of January 26, 2026, the gold ETF (518800) has seen a net inflow of 16.42 billion yuan over the past five days, indicating strong demand for gold assets [2] - The fund's total scale reached 372.25 billion yuan with 3.553 billion shares, maintaining its position as the largest gold ETF in the market [2] - Institutional investors hold 93.76% of the fund, reflecting a strong recognition of gold as a macro hedging tool [2] Market Drivers - The rise in gold prices is driven by three main factors: 1. Increased expectations for continued monetary easing by the Federal Reserve, lowering the cost of holding gold [3] 2. Accelerated de-dollarization, with central banks globally increasing their gold reserves [3] 3. Heightened geopolitical risks, enhancing gold's appeal as a traditional safe-haven asset [3] Product Advantages - The gold ETF (518800) closely tracks the Shanghai Gold Exchange Au99.99 spot contract, offering several advantages: - Historical tracking error of only 3.2%, accurately reflecting domestic gold price trends [4] - Low annual management fee of 0.50% and custody fee of 0.10%, significantly lower than physical gold [4] - Exemption from value-added tax, making it more efficient than bank gold bars and jewelry [4] - Excellent liquidity with T+0 trading support, suitable for large capital movements [4] - Over 99% of assets are allocated to physical gold, with no exposure to stocks or derivatives [4] Market Outlook - Despite gold prices being at historical highs, the supporting logic remains intact, with expectations for gold prices to oscillate between $4750 and $5200 per ounce in 2026 [4] - Investors are advised to consider gradual accumulation during pullbacks to mitigate volatility risks [4] - A recommended allocation of 5% to 10% of overall assets in gold ETFs is suggested as a stabilizing component [4] - For those seeking higher elasticity, gold stock ETFs (517400) may be an alternative, albeit with significantly higher volatility [4]

1月26日，现货黄金首次站上5000美元/盎司，再创历史新高，年内已涨超16%，上涨超过700美元；COMEX黄金同步走强，同创历史新高。截至发稿，现 货黄金还在继续上攻，已突破5080美元/盎司。 瑞银财富管理投资总监办公室发表最新观点，维持黄金目标价在5000美元/盎司，若地缘局势再度紧张，金价上行风险有望触及5400美元/盎司。此前避险 情绪曾推动金价在1月前三周累计上涨11%，充分体现了其在地缘风险升温背景下的避险属性。 高盛则将黄金今年底目标价从4900美元/盎司上调至5400美元/盎司，理由是私人部门投资者和央行对黄金的需求不断增长。高盛表示，预计各国央行今年 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。高盛分析师称，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。 国内品牌金饰克价近期同样行至历史高位。截至发稿，老庙黄金足金饰品报1575元/克，较1月24日的1548元/克涨27元；周生生足金饰品报1574元/克，较1 月24日的1551元/克涨23元。 在股市方面，1月26日，黄金概念活跃，截至发稿，有6只个股涨停。 | 黄金概念 0 | | | | ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 受益于金价上涨，多家黄金相关企业预计2025年业绩同比增长。 1月25日晚，湖南黄金发布业绩预告，预计2025年净利润为12.7亿元—16.08亿元，同比增长50%— 90%。 对于业绩增长，湖南黄金表示，报告期内，业绩上涨主要是公司金、锑、钨产品销售价格同比上涨。 无独有偶，招金黄金1月25日晚也发布2025年度业绩预告，预计净利润为1.22亿元—1.82亿元，上年同期 亏损12742.80万元。 招金黄金表示，业绩变动原因为主营业务扭亏，子公司斐济瓦图科拉金矿技改增产增效，叠加黄金价格 上涨，毛利润大幅提高。 此前，赤峰黄金曾于1月5日发布2025年年度业绩预增公告，预计2025年度净利润为30亿元到32亿元，与 上年同期（法定披露数据）相比增长约70%到81%。主要原因为公司2025年度主营黄金产量约为14.4 吨，主营黄金产品销售价格同比上升约49%，境内外矿山企业盈利能力增强。 紫金矿业2025年年度业绩也预喜。据紫金矿业公告，预计公司2025年净利润约510亿—520亿元，与上年 同期320.51亿元相比，将增加约189亿—199亿 ...

Group 1 - The core viewpoint of the news is the significant rise in the gold industry, with the China Securities Hong Kong-Shenzhen Gold Industry Stock Index increasing by 5.80% and individual stocks like Laopu Gold and Hunan Gold seeing gains of 12.44% and 10.01% respectively [1] - The gold futures price on the New York Commodity Exchange surpassed $5000 per ounce, marking a historic milestone [1] - Goldman Sachs predicts that central banks will purchase 60 tons of gold monthly this year, and with the Federal Reserve's interest rate cuts, the scale of gold purchases by ETFs is expected to increase, leading to a revised year-end gold price forecast of $5400 per ounce [1] Group 2 - As of December 31, 2025, the top ten weighted stocks in the China Securities Hong Kong-Shenzhen Gold Industry Stock Index account for 63.58% of the index, with major companies including Zijin Mining and Shandong Gold [2] - The individual performance of key stocks includes Zijin Mining at 4.77% increase and Shandong Gold at 5.76% increase, with their respective weights in the index being 11.20% and 9.05% [3]

每经AI快讯，1月26日，现货黄金涨幅扩大，最新上涨2%，报每盎司5080.60美元，创历史新高。 每经AI快讯，1月26日，现货黄金涨幅扩大，最新上涨2%，报每盎司5080.60美元，创历史新高。 ...

展望后市，黄金长期上涨趋势获机构普遍看好。高盛在最新报告中，将黄金今年底目标价从每盎司4900美元上调至5400美元，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。高盛分析师预计，各国央行今年每月将购买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。 （来源：财闻） 高盛在最新报告中，将黄金今年底目标价从每盎司4900美元上调至5400美元，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。 1月26日，截至发稿，现货黄金首次突破5000美元/盎司，日内涨超1%。现货白银盘初再创新高，现报105.05美元/盎司，涨幅超2%。 | | | 东吴证券表示，2026年，在市场波动可能延续、全球央行持续购金去美元化的背景下，黄金作为具备长期保值功能和低相关性的资产，在资产配置中，更值 得稳健型投资者关注。 ...