原因之一，是在上周一系列美国经济数据公布之后，市场开始加大对2026年美联储降息的押注，目前普遍 预期明年可能会降息两次。而一旦利率继续走低，债券以及货币市场基金中现金类资产的收益率就会被进 一步压缩，这也在相对意义上，抬高了黄金、白银等实物资产的吸引力。 当地时间24日，市场避险情绪升温、黄金ETF持仓量增加以及投资者对美联储降息前景的乐观预期等因 素，推动国际金价继续上涨。24日亚洲交易时段，伦敦现货黄金价格盘中突破每盎司4500美元，刷新历史 纪录。 与此同时，国际银价也维持涨势。纽约白银期货以及伦敦现货白银价格均升破每盎司72美元关口，同样创 下历史新高。 美联储降息预期升温 抬高贵金属资产吸引力 近期，国际金价、银价齐创新高，导致金价和银价双双走高的驱动因素是什么？ 在投资者避险情绪高涨的背景下，今年以金银为代表的贵金属成了表现最亮眼的资产之一。 明年二月到期的COMEX黄金期货今年迄今为止已经上涨超70%。而明年三月到期的COMEX白银期货，今 年以来已经上涨约137%，涨幅几乎是黄金的两倍。 ▊阅读更多（戳下方标题） 点击图片阅读 香港殉职消防员女友发文 其二，资深大宗商品分析师杰夫·柯里表示， ...

Core Viewpoint - The international gold and silver prices have reached historical highs due to escalating geopolitical tensions, tight market supply and demand, and increased safe-haven demand, with gold prices rising over 70% this year [1][6]. Group 1: Price Movements - On February 2026 COMEX gold futures, the price increased by $46.3, closing at $4,505.7 per ounce, while March 2026 silver futures rose by $2.572, reaching $71.137 per ounce, both marking historical highs [3]. - London spot gold prices also surpassed $4,500 per ounce, and platinum prices increased by over 6%, exceeding $2,300 per ounce, achieving historical highs [3]. Group 2: Geopolitical and Economic Factors - Tensions between the U.S. and Venezuela have contributed to geopolitical pressures, while a declining U.S. dollar index has supported the prices of dollar-denominated precious metal futures [4]. - The U.S. dollar index has dropped nearly 10% this year, potentially facing its worst performance since 2003 [5]. Group 3: Market Outlook - Analysts from JPMorgan expect the gold market to continue its upward trend into 2026 due to strong driving factors, with silver demand also anticipated to grow [5]. - The recent surge in gold and silver prices is attributed to heightened investor risk aversion, making precious metals one of the best-performing asset classes this year [6]. Group 4: Investment Trends - The COMEX gold futures for February have risen over 70% this year, while March silver futures have surged approximately 137%, nearly double the increase of gold [8]. - Expectations of potential interest rate cuts by the Federal Reserve in 2026 have increased the attractiveness of precious metal assets, as lower rates compress yields on cash-like assets [8]. Group 5: Central Bank Activities - Global central banks, particularly those in emerging markets, have been purchasing gold on a large scale, significantly impacting the traditional supply-demand balance of gold [11]. - This purchasing behavior is driven by a desire to optimize foreign exchange reserve structures and hedge against geopolitical risks, reflecting a long-term strategic shift [11].

当地时间24日，市场避险情绪升温、黄金ETF持仓量增加以及投资者对美联储降息前景的乐观预期等因 素，推动国际金价继续上涨。24日亚洲交易时段，伦敦现货黄金价格盘中突破每盎司4500美元，刷新历史 纪录。 与此同时，国际银价也维持涨势。纽约白银期货以及伦敦现货白银价格均升破每盎司72美元关口，同样创 下历史新高。 美联储降息预期升温 抬高贵金属资产吸引力 近期，国际金价、银价齐创新高，导致金价和银价双双走高的驱动因素是什么？ 在投资者避险情绪高涨的背景下，今年以金银为代表的贵金属成了表现最亮眼的资产之一。 明年二月到期的COMEX黄金期货今年迄今为止已经上涨超70%。而明年三月到期的COMEX白银期货，今 年以来已经上涨约137%，涨幅几乎是黄金的两倍。 原因之一，是在上周一系列美国经济数据公布之后，市场开始加大对2026年美联储降息的押注，目前普遍 预期明年可能会降息两次。而一旦利率继续走低，债券以及货币市场基金中现金类资产的收益率就会被进 一步压缩，这也在相对意义上，抬高了黄金、白银等实物资产的吸引力。 另一方面，当前全球仍旧处于变革时期，无论是全球货币政策周期的转向宽松（主要体现在美联储今年连 续三次降息 ...

来源 | 央视 财经 当地时间24日，市场避险情绪升温、黄金ETF持仓量增加以及投资者对美联储降息前景的乐观预期 等因素，推动国际金价继续上涨。24日亚洲交易时段， 伦敦现货黄金价格盘中突破每盎司4500美 元，刷新历史纪录。 2025.12. 24 本文字数：1143，阅读时长大约2分钟 与此同时，国际银价也维持涨势。 纽约白银期货以及伦敦现货白银价格均升破每盎司72美元关口， 同样创下历史新高。 美联储降息预期升温，抬高贵金属资产吸引力 近期，国际金价、银价齐创新高，导致金价和银价双双走高的驱动因素是什么？ 在投资者避险情绪高涨的背景下，今年以金银为代表的贵金属成了表现最亮眼的资产之一。 明年二月到期的COMEX黄金期货今年迄今为止已经上涨超70%。而明年三月到期的COMEX白银期 货，今年以来已经上涨约137%，涨幅几乎是黄金的两倍。 原因之一，是在上周一系列美国经济数据公布之后，市场开始加大对2026年美联储降息的押注，目 前普遍预期明年可能会降息两次。而一旦利率继续走低，债券以及货币市场基金中现金类资产的收益 率就会被进一步压缩，这也在相对意义上，抬高了黄金、白银等实物资产的吸引力。 其二，资深大宗 ...

Group 1 - The core viewpoint of the articles highlights the significant rise in international gold and silver prices, driven by increased market risk aversion, rising gold ETF holdings, and optimistic expectations regarding potential interest rate cuts by the Federal Reserve [1][2][4] - Gold prices reached a historic high, surpassing $4500 per ounce, while silver prices also hit a record, exceeding $72 per ounce [1][2] - The COMEX gold futures for February have increased over 70% this year, while March silver futures have surged approximately 137%, nearly double the increase of gold [4] Group 2 - The rise in gold and silver prices is attributed to heightened investor risk aversion, making precious metals one of the best-performing asset classes this year [2][4] - A significant factor driving this surge is the expectation of two potential interest rate cuts by the Federal Reserve in 2026, which would compress yields on cash-like assets, thereby enhancing the appeal of physical assets like gold and silver [4][6] - Central banks, particularly in emerging markets, are actively purchasing gold to diversify their foreign exchange reserves and reduce reliance on dollar-denominated assets, while also seeking to enhance asset safety amid rising global uncertainties [6][7]

王爷说财经讯：历史第一次！ 12月23日，全球金融市场迎来历史性一刻——现货黄金价格首次冲破4500美元/盎司关口，较年初涨幅已超70%！ 这不仅是黄金市场从未有过的极值，更让全球投资者集体沸腾。你没看错，这个被视为"财富避风港"的硬通货，又一次刷新了人类金融史的纪录。 但疑问也随之而来：为什么黄金会在这个时间点突然爆发？横盘震荡两个月后突然突破，背后是不是有大资金在推动？这波上涨到底是机会还是陷阱？普 通人该不该跟风入场？别急，咱们一步步把这件事捋清楚。 尤其是12月22日以来，金价像是踩了油门，从4400美元关口一路飙升，只用一天就突破了4500美元的关键点位，这样的涨势让不少老股民都直呼"看不 懂"。 世界黄金协会的数据显示，今年全球央行购金热情依旧高涨，有望连续第四年维持1000吨以上的净增持规模，而2024年全球央行净增持黄金就达到1045 吨，相当于当年全球黄金产量的五分之一还多。 01、开挂！现货黄金价格首次突破每盎司4500美元！ 先说说这波行情的基本背景。 其实今年黄金早就开启了"开挂模式"，全年已经创下超过50次历史新高，从年初不足2600美元/盎司的价格，一路磕磕绊绊涨到现在的4500美 ...

Core Insights - The international gold price has surged to a historic high of $4500 per ounce, driven by strong support factors [1][3] - Notably, some prominent investors have chosen to exit the market at this peak, indicating a divergence in market sentiment [1][3] Group 1: Market Drivers - Three key pillars supporting the gold price include global central bank purchases, geopolitical uncertainties, and the restructuring of the fiat currency system [3] - Mainstream institutions are predicting that gold prices will generally exceed $4000 [3] Group 2: Investment Strategies - For investors using gold as a long-term asset to hedge against risks, short-term fluctuations can be ignored, and holding positions is advisable [4] - For trend traders, the current price level has significantly priced in short-term benefits, suggesting a high risk in chasing higher prices, and patience is recommended for better entry points [4]

Core Viewpoint - The long-term trend for gold prices is upward, driven by multiple factors including Federal Reserve interest rate cuts, rising geopolitical tensions, ongoing de-dollarization, and continuous gold purchases by central banks [2][3]. Group 1: Factors Supporting Gold Price Increase - Continuous interest rate cuts by the Federal Reserve: On December 11, the Fed cut rates by 25 basis points to a range of 3.5%-3.75%, which reduces the opportunity cost of holding gold. Global gold investment demand reached 1,566 tons in the first three quarters of 2025, an 87% year-on-year increase, offsetting declines in jewelry manufacturing and central bank demand [2]. - Escalation of geopolitical conflicts: Recent tensions, such as Israel's potential strikes on Iranian facilities and ongoing U.S.-Venezuela relations, have increased global demand for safe-haven assets [2]. - Ongoing de-dollarization and weakening of U.S. dollar credit: The U.S. is trapped in a cycle of fiscal deficits and increasing national debt, projected to exceed $38.3 trillion by November 2025, with a debt-to-GDP ratio over 120%. This situation is expected to keep gold prices on an upward trajectory [2]. Group 2: Central Bank Gold Purchases - Since 2008, global gold reserves have steadily increased, with a total rise of 6,351 tons by the third quarter of 2025 compared to 2008. The proportion of gold in the foreign exchange reserves of many central banks has been on the rise since 2021 [3]. Group 3: Market Analysis and Investment Strategy - Historical data shows that gold prices have increased by approximately 1.5 times since 2019, but past decades have seen much larger increases. If a collapse of global currency credit occurs, future gold price increases could be significant. The importance of timing in gold investments is emphasized, with technical indicators like volatility and trading volume being more effective than fundamental analysis for short-term trends [4]. - Gold is considered a non-yielding asset, making it more suitable for long-term investment rather than frequent trading. Economic factors have less influence on gold pricing, which has decoupled since 2022. The management and custody fees for gold ETFs, such as Huaxia (518850) and gold stock ETF (159562), are among the lowest in their category, facilitating lower-cost participation in the gold market [4].

摘要今日周二(12月23日)亚盘时段，黄金市场短期回调，国内外同步温和调整，但整体强势未改。截至 今早9时10分，伦敦金现报4478.24美元/盎司，涨0.41%；Au(t+d)报972.3元/克，跌0.88%，沪金主连失守 短期支撑。圣诞假期临近交投清淡，获利了结致回调，但降息预期、地缘风险及央行购金等核心支撑仍 在，中长期上行逻辑稳固。 【要闻速递】 最新市场数据显示，黄金呈现"内外分化、实物与期货同步调整"特征。国际方面，伦敦金现小幅收涨但 盘中波动加剧，折射假期前市场谨慎情绪；国内回调更明显，人民币计价黄金品种普跌，各地金店实物 金价同步下行：北京周大福足金999报1360元/克(日跌8元)，上海老凤祥1358元/克(跌0.51%)，广州中国 黄金（600916）1248元/克(议价空间扩大)；银行投资金条跟调，建行928元/克、中行926元/克、工行929 元/克，较前日跌6-7元，回调温和无恐慌抛售，深圳水贝批发价1125元/克显实物需求支撑。 美联储政策仍是核心变量：12月FOMC降息25基点至3.50%-3.75%，但3张反对票(2019年来最多)显内部 分歧，短期1月维持利率概率升至79%抑 ...

Group 1 - The core viewpoint of the article highlights the significant rise in gold prices, with spot gold reaching a historical high of $4,497.75 per ounce on December 23, driven by international market dynamics and geopolitical uncertainties [1][4]. - Domestic gold jewelry prices have also seen notable increases, with brands like Chow Sang Sang and Lao Miao Gold exceeding 1,400 RMB per gram, reflecting daily increases of 36 RMB and 35 RMB respectively [1][2]. - The strong performance of gold prices in 2023 is attributed to multiple factors, including ongoing central bank gold purchases, geopolitical risks, and market adjustments to the Federal Reserve's interest rate policies [3]. Group 2 - Goldman Sachs projects that gold prices will rise to $4,900 per ounce by December 2026, supported by structural demand from central banks and cyclical support from Federal Reserve rate cuts [4]. - In the A-share market, eight precious metal stocks have seen their prices double this year, indicating a robust market response to the rising gold prices [5][6]. - Notably, several precious metal concept stocks maintain price-to-earnings ratios below 30, suggesting potential investment opportunities, with companies like Zijin Mining and Chifeng Jilong Gold among them [6][7].