【环球网财经综合报道】北京时间2月3日凌晨，国际贵金属期货收盘涨跌不一，COMEX黄金期货跌1.35%报4680.90美元/盎司， COMEX白银期货涨0.93%报79.27美元/盎司。 此前一日，受到金价、银价及其他金属价格大幅波动影响，周一A股深度调整，黄金、有色、化工、石油天然气等资源股大面积 跌停；香港恒生指数收跌2.23%报26775.57点，黄金股同样成为"重灾区"。 特别是国投白银LOF复牌后"一字跌停"，国投瑞银盘后发布公告称，由于国际白银价格极端波动，为避免基金净值虚高，决定参 考国际白银价格调整基金估值。2月2日，调整后的净值为2.2494元，单日跌幅高达31.5%，创公募基金单日下跌历史纪录。据此 计算，目前二级市场价格溢价率达109.92%。 《环球邮报》发文称，1月30日现货黄金价格暴跌近10%，创1983年以来最大单日跌幅，跌破此前刚刚突破的每盎司5000美元的 历史里程碑，今年大部分收益化为乌有；白银在同一天下跌了27%，创下了历史纪录的单日跌幅。但分析师普遍认为这只是暂时 的，独立的金属交易员Tai Wong认为，黄金价格可能会经历一段时间的盘整，在接下来的几周或几个月内再创新 ...

【行情资讯】 沪金涨 3.61 %，报 1045.00 元/克，沪银跌 17.04 %，报 20600.00 元/千克；COMEX 金 4701.10 美元/盎司，COMEX 银报 79.62 美元/盎司；美国 10 年期国债收益率报 4.26%，美元指数报 97.12； 周一黄金白银遭到剧烈抛售，均砸至跌停板，沪银沪金夜盘均收跌，市场宏观预期快速反转， 前期累积多头集中踩踏离场，价差走阔。同时，上期所与上金所于当日同步上调白银交易保证 金比例、扩大涨跌停板幅度的监管措施使得杠杆资金被迫被动减仓离场，进一加剧盘面与价差 的极端波动。 2026 年 1 月美国 ISM 制造业 PMI 录得 52.6，大幅超出预期（48.5）及前值（47.9），为 2022 年 8 月以来最高，且自 2025 年 2 月后首次突破荣枯线，标志着制造业结束连续 10 个月收缩、 回归扩张。标普全球数据同步显示当月工厂产出创 2022 年 5 月以来最大涨幅，印证行业阶段 性回暖。 分项来看，需求端反弹。新订单指数从 47.7 跳升至 57.1（2022 年 2 月以来最高），带动生产 指数从 50.7 升至 55.9，产出表现强劲 ...

美国总统特朗普提名凯文·沃什领导美联储，摩根士丹利策略师指出，这一变动并不意味着新兴市场行 情走向终结。 市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 摩根士丹利策略师James Lord、Simon Waever等人在报告中写道，"新兴市场牛市可能依然完好"，投资 者仍应逢低买入新兴市场本地资产，背后的支撑因素在于其基本面依然稳健，货币政策继续发挥压舱石 作用。他们认为，上周后期的价格波动"可能是由于投资者措手不及，在外汇市场仓位错误而被放大"， 并强调"逢低买入是明智之举，配置新兴市场本地资产的理由比美联储人事变动的影响更为充分"。 来源：市场资讯 摩根士丹利预计美联储将于6月恢复降息。哥伦比亚上周五加息，被其视作新兴市场央行采取支持本币 行动的最新例证。 ...

Investment Rating - The report maintains a "Recommended" investment rating for the gold, copper, aluminum, tin, and antimony industries [11]. Core Insights - The domestic copper inventory is beginning to decrease, which may lead to stronger prices [6]. - The gold market is expected to stabilize and rise further due to the anticipated interest rate cuts by the Federal Reserve [5]. - The aluminum supply remains rigid, supporting the investment outlook for the aluminum sector [11]. - Tin prices are expected to be supported by tight supply conditions [11]. - Antimony prices are rebounding after a six-month decline, indicating potential investment opportunities [11]. Summary by Sections Industry Performance - The non-ferrous metals sector (Shenwan) has shown significant performance with a 1-month increase of 22.6%, a 3-month increase of 35.7%, and a 12-month increase of 128.5% [3]. Precious Metals - Gold prices reached $4981.85 per ounce, with a week-on-week increase of $35.60, or 0.72%. Silver prices were $103.19 per ounce, up $4.19, or 4.23% [4]. Copper and Aluminum - Copper prices closed at $13,440 per ton on the LME, up $460 per ton, or 3.54%. SHFE copper closed at ¥103,170 per ton, up ¥2,120, or 2.10% [6]. - Domestic aluminum prices were ¥24,640 per ton, with a week-on-week increase of ¥510 [7]. Tin and Antimony - Domestic refined tin prices were ¥423,630 per ton, down ¥110, or 0.03%. The supply and demand for tin are weak, leading to a price fluctuation around high levels [9]. - Antimony prices remain supported due to tight supply conditions, with current prices at ¥160,000 per ton [10]. Recommended Stocks - For the gold sector, recommended stocks include Zhongjin Gold, Shandong Gold, and China National Gold International. In the copper sector, recommended stocks include Zijin Mining and Western Mining. For aluminum, recommended stocks are Shenhuo Co., Yunnan Aluminum, and Tianshan Aluminum [12].

Core Viewpoint - The Federal Reserve's Bostic suggests that one or two interest rate cuts may be sufficient to reach a neutral level, contrasting with previous expectations of no rate cuts until 2026 [1] Group 1 - Bostic's statement indicates a potential shift in monetary policy outlook, suggesting a more accommodative stance than previously anticipated [1] - The previous forecast of no rate cuts until 2026 highlights a significant change in the Federal Reserve's approach to interest rates [1]

Market Overview - On February 2, US stock indices closed higher, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56% [1] - Major technology stocks showed mixed results, with Apple rising over 4% and Nvidia falling nearly 3% [2] Technology Sector - The Philadelphia Semiconductor Index increased by 1.7%, with Micron Technology up over 5% and Intel up nearly 5% [2] - SanDisk's stock surged over 15% due to better-than-expected earnings, while Western Digital and Seagate also saw gains [3] - NAND flash memory prices are expected to rise by over 30% according to reports from SK Hynix and SanDisk [3] Energy Sector - The energy sector experienced declines, with ExxonMobil down over 2% and Chevron down more than 1% [3] - WTI crude oil futures fell by 4.71%, closing at $62.14 per barrel, while Brent crude oil futures dropped by 4.36% to $66.30 per barrel [4] Cryptocurrency Market - Bitcoin prices rose above $78,000 after previously dipping to around $74,560, with significant market volatility leading to over 170,000 liquidations [4] - Bitcoin ETF saw a net outflow of $1.61 billion in January 2026, indicating liquidity issues in the market [4] International Relations and Trade - A trade agreement between the US and India was announced, reducing tariffs on Indian goods from 25% to 18%, effective immediately [5] - India is expected to increase its procurement of US products, including energy and agricultural goods, valued at over $500 billion [5] - The Indian stock index Nifty 50 saw a rise in futures, and the Indian Rupee strengthened against the US dollar following the trade announcement [6]

Market Overview - Global stock markets experienced a "collective retreat" with the S&P 500 futures indicating a fourth consecutive day of decline for U.S. stocks [2][27] - As of the latest update, Dow futures fell by 0.09%, S&P 500 futures dropped by 0.38%, and Nasdaq futures decreased by 0.66% [3][28] - Asian markets faced heavier declines, with the South Korean Kospi index plummeting by 5.3%, triggering a temporary trading halt [3][28] Commodity Market Volatility - Extreme volatility in the commodity market remains a focal point, with gold prices initially dropping by 10% before narrowing losses, and silver prices falling by 16% before recovering most of the decline [5][30] - The Chicago Mercantile Exchange raised margin requirements for precious metals futures, increasing holding costs for traders, which typically pressures prices and trading activity [5][30][31][32] Federal Reserve Leadership Impact - The nomination of Kevin Walsh as the next Federal Reserve Chair is shifting market expectations towards "less/fewer rate cuts," impacting precious metals prices [12][37] - Analysts suggest that Walsh's past criticisms of the Fed and focus on price stability may lead to a reassessment of the dollar's depreciation narrative, contributing to the recent drop in gold, silver, and copper prices [12][37] Upcoming Economic Data and Earnings Reports - Investors are focusing on the upcoming U.S. non-farm payroll report, expected to show an increase of 68,000 jobs, the largest gain in four months, scheduled for release on Friday [12][41] - A busy earnings week is anticipated, with major companies like Google and Amazon set to report their quarterly results [41][42] Individual Stock Movements - Energy stocks are experiencing pre-market declines, with Occidental Petroleum down 3.1% and ConocoPhillips down 2.6% [43] - Rare earth stocks surged in pre-market trading following President Trump's announcement of a $12 billion mineral reserve initiative [43] - Disney shares rose by 4% in pre-market trading after reporting quarterly revenue that exceeded expectations [44]

Group 1 - Gold prices have fallen below $4500 per ounce, with a daily decline of 7.5% [2] - Silver prices have experienced a daily drop of over 14%, erasing gains made in the past month [2] - The main contract for aluminum futures has hit the daily limit down, reporting a price of 23035 yuan per ton, with a decline of 9.01% [4] Group 2 - The main contracts for platinum and palladium have also reached the daily limit down [5] - Copper futures have seen significant declines, with the main contract hitting the daily limit down at 98580 yuan per ton, a drop of 9.01% [7] - International copper futures have also reached the daily limit down at 87250 yuan per ton, with a decline of 9% [7] Group 3 - This week, global markets are facing several major events, including the release of U.S. non-farm payroll data and interest rate decisions from the European and British central banks [9] - The probability of a 25 basis point rate cut by the Federal Reserve by March is 15.3%, while the probability of maintaining the current rate is 84.7% [9] - Major companies, including Google, Amazon, Eli Lilly, and Novo Nordisk, are set to release earnings reports this week, which will impact market perceptions of various sectors [9]

Group 1: Precious Metals Market - The global precious metals market experienced unprecedented volatility at the beginning of 2026, with gold prices plummeting nearly 10% from a historical high of nearly $5600, while silver prices fell nearly 30%, marking the largest single-day drop on record [1] - As of February 2, the spot gold price fell below $4500 for the first time since January 9, dropping 7.9% during the day and currently hovering around $4635 [1] - Domestic gold jewelry prices also saw significant declines, with brands like Chow Sang Sang and Luk Fook reporting drops of 224 yuan per gram compared to January 29, when international gold prices peaked [1] Group 2: U.S. Employment Data - The U.S. Labor Department is set to release January's non-farm employment data, which is crucial for assessing the timing of the Federal Reserve's next interest rate cut [5] - Market expectations indicate a consensus of 70,000 new non-farm jobs added in January, up from 50,000 in December, with the unemployment rate and average hourly earnings expected to remain unchanged at 4.4% and 0.3%, respectively [5] Group 3: Central Bank Meetings - The European Central Bank (ECB) and the Bank of England (BoE) are scheduled to hold interest rate decision meetings, with expectations that both will maintain current rates [7] - The ECB is anticipated to comment on inflation and growth risks, while the BoE's new quarterly forecasts will be critical for evaluating potential rate cuts in the spring [7] Group 4: U.S. Stock Market Outlook - Recent U.S. economic data suggests a positive fundamental outlook, with the S&P 500 likely to continue a steady upward trend despite the Fed's pause on rate cuts [9] - The upcoming midterm elections may prompt President Trump to take actions that support stock market performance, as a rising stock market correlates with increased support [9] Group 5: Geopolitical Developments - Israeli military discussions with U.S. officials regarding potential military actions against Iran highlight ongoing geopolitical tensions [10] - President Trump expressed a desire to reach an agreement with Iran, while also emphasizing military readiness in the region [11][13] - A joint statement from eight foreign ministers condemned Israel's recent actions in Gaza, calling for restraint and adherence to ceasefire agreements [14]

Group 1 - The US dollar strengthened again on Monday, with significant gains against commodity-sensitive currencies, while gold and silver prices continued to plummet [1][6] - The dollar's rebound began after a significant drop in late January, with market discussions focusing on the potential long-term depreciation of the dollar [1][8] - The nomination of Kevin Warsh as Fed Chair led to the largest single-day increase in the dollar since May, as investors perceived Warsh's stance as more hawkish compared to other candidates [2][8] Group 2 - Market participants are warning that the dollar may weaken further, citing unpredictable policy-making under the Trump administration and high US deficits as ongoing pressures [5][11] - Analysts from Morgan Stanley expect the Fed to lower interest rates twice in the second half of 2026, driven by falling inflation [9] - Goldman Sachs and other firms predict that while the dollar may face downward pressure, the decline is unlikely to be smooth, with current forex and precious metal volatility exceeding that of the stock market [11][12]