实时数据：5月26日亚盘早市，现货黄金延续上周五跌势，日内最低触及3331.38美元/盎司，较上周五收盘价3356.21美元/ 盎司下跌约0.23%。 | 昨收 | 3356.21 | 最高 | 3356.81 | | --- | --- | --- | --- | | 开盘 | 3356.18 | 最低 | 3331.38 | | 买入 | 3348.63 | 卖出 | 3348.83 | 一、特朗普政策反复无常，贸易风险持续扰动市场 交易策略：详情请见专栏《独家观点》 尽管短期波动加剧，但黄金长期牛市根基未改。美国联邦债务突破36万亿美元，穆迪下调美国主权信用评级，叠加关税可 能推升通胀至3.0-3.5%，黄金作为抗通胀和避险资产的需求持续增强。此外，央行购金和ETF资金流入提供长期支撑， 2025年金价仍有望冲击3400美元/盎司。投资者可利用回调机会逐步布局中长期多单，止损参考3300美元关键支撑。 风险提示：以上分析基于公开信息，不构成投资建议。市场有风险，交易需谨慎。 二、美联储会议纪要与PCE数据成关键节点 本周市场将聚焦两大核心事件： 美联储5月会议纪要（5月29日）：市场预期纪要将披露美联储 ...

金十数据5月22日讯，欧洲央行会议纪要显示，欧洲央行决策者上月表示，欧元区通胀几乎被遏制，即 便贸易途径可能进一步引发通胀，但贸易紧张局势可能在短期内打压物价。欧洲央行上月在一年内第七 次降息，并警告称，经济增长将受到美国关税的严重打击，这加大了未来几个月进一步放宽政策的押 注。欧洲央行在会议纪要中表示："委员们表示，对通胀将在中期内回归目标水平的信心增强，对通胀 冲击的斗争已接近尾声。因此，反通胀的力量很可能在短期内占据主导地位。"尽管自4月会议以来，贸 易紧张局势在很大程度上有所缓解，但普遍存在的不确定性继续打压市场情绪，使人们坚定地押注欧洲 央行将于6月再次降息。不过，一些政策制定者认为，从长远来看，贸易战将导致通胀。会议纪要补充 称："鉴于破坏全球价值链的破坏性影响，这些委员认为贸易冲击在短期内引发通胀的可能性更大。" 欧洲央行会议纪要：抗通胀的进程已接近尾声 ...

周三（5月21日）亚盘时段，现货黄金守住隔夜涨幅并刷新短期高点，盘中最高触及3315美元附近后维持强势，目前交投于3310美元附近。黄金价格周二上 涨逾 1%，收报3289.54美元/盎司，因美国关税政策的不确定性导致美元进一步走弱且美股下跌，而且俄罗斯和乌克兰的冲突并未缓和，仍吸引避险买盘支 撑金价。 基本面： 美元指数的持续疲软为黄金上涨提供了另一大助力。周二美元下跌0.35%，触及100关口，周三亚市早盘更是一度跌破99.96，创5月8日以来新低。美联储内 部对通胀的分歧加剧了市场的不确定性。亚特兰大联储主席博斯蒂克直言，关税政策的滞后效应可能推高物价，但通胀是"昙花一现"还是"长期顽疾"仍需观 察。圣路易斯联储主席穆萨莱姆则警告，若低估关税对通胀的影响，可能酿成更严重的危机。这种政策迷雾使得美联储降息预期升温，美元吸引力下降，而 黄金的"抗通胀"属性被进一步放大。 此外，本周以来，全球地缘政治局势骤然升温，成为推动黄金价格飙升的核心动力。中东局势的恶化尤其引人注目——以色列被曝正密谋袭击伊朗核设施， 这一消息瞬间点燃市场避险情绪。美国情报显示，以色列已调动航空弹药并完成空中演习，尽管最终行动尚未敲定， ...

Group 1 - The core viewpoint of the articles highlights the significant rise in gold prices driven by geopolitical tensions, particularly in the Middle East, and the weakening of the US dollar due to uncertainties surrounding US tax policies and credit ratings [1][3][5] - Gold prices surged past $3,300 per ounce for the first time since May 9, with a notable increase of nearly 2% during trading sessions, closing at $3,289.98 per ounce [1][3] - The geopolitical situation, especially the potential military actions by Israel against Iran, has heightened market risk aversion, leading to increased demand for gold as a safe-haven asset [3][5] Group 2 - The downgrade of the US credit rating by Moody's from "AAA" to "AA1" has contributed to the decline of the US dollar, which fell to its lowest level since May 8, further supporting gold prices [3][4] - The ongoing conflicts in Ukraine and the Middle East, along with the uncertainty surrounding US fiscal policies, have created a favorable environment for gold, enhancing its appeal as a hedge against inflation and economic instability [4][5] - Market participants are closely monitoring upcoming statements from Federal Reserve officials and developments in US tax reform discussions, as these could influence the direction of the dollar and, consequently, gold prices [7][9]

【基本面】 美联储内部对通胀的分歧加剧了市场的不确定性。亚特兰大联储主席博斯蒂克认为关税政策的滞后效应可能推高物价，圣路易斯联储主席穆萨莱姆则警告低 估关税影响可能酿成更严重的危机。这种政策迷雾使得美联储降息预期升温，美元吸引力下降，而黄金的"抗通胀"属性被进一步放大。 综合来看，黄金当前正处于地缘政治风险、美元走弱和技术面突破的三重利好之中。中东局势若进一步恶化，可能成为金价突破历史高点的导火索；美联储 政策转向的预期则可能在中长期继续为金价提供支撑。对于投资者而言，黄金不仅是避险工具，更是对抗通胀和政策不确定性的战略资产。在当前复杂多变 的"乱世"中，黄金的璀璨光芒或许才刚刚开始闪耀。投资者应密切关注市场动态，把握黄金投资的机会。 本交易日经济数据相对较少，投资者主要留意美国税改法案相关消息，关注地缘局势相关消息，留意美联储官员讲话和国际贸易局势变化。在全球经济和金 融市场充满不确定性的当下，黄金投资的重要性不言而喻，合理配置黄金资产有望在动荡中实现资产的保值增值。 【技术面】 【黄金】 行情回顾： 首先我们先对昨日周二黄金市场做整体的梳理，在昨日市场中黄金价格呈现出上涨的状态。从细节上看，早盘期间价格短 ...

Group 1 - The Reserve Bank of Australia (RBA) announced its second interest rate cut of the year, aligning with market expectations, and analysts predict two more cuts may follow [1][2] - The RBA's decision to cut rates is driven by concerns over weak economic growth and inflation data indicating a moderation in inflationary pressures, with the first quarter's trimmed mean inflation rate at 2.9%, entering the RBA's target range for the first time since 2021 [2][3] - Recent economic indicators show resilience in the Australian economy, with the unemployment rate stable at 4.1%, a quarterly wage price index increase of 0.9%, and a slight rise in consumer confidence to 92.1 points [2] Group 2 - The RBA expressed a cautious stance regarding future rate cuts, highlighting uncertainties related to global trade and geopolitical factors that could negatively impact economic growth, employment, and inflation [3][4] - The RBA has revised its inflation forecasts downward, with the overall inflation rate expected to be 2.1% compared to a previous estimate of 2.4%, indicating a shift in focus from anti-inflation measures to supporting economic growth [4][5] - Analysts anticipate multiple rate cuts in the future, with predictions of cuts in August and November, potentially lowering the benchmark rate to 3.35% by year-end [5][6]

Core Viewpoint - The international gold market is experiencing complex dynamics influenced by economic uncertainties, monetary policy shifts, geopolitical risks, and market sentiment, with current prices reflecting a rebalancing from previous highs [3][4]. Group 1: Current Market Conditions - Gold prices are fluctuating between $3200 and $3230 per ounce in the London spot market, while domestic futures are around 750 yuan per gram [3]. - Compared to the historical high of $2800 in January 2024, current prices show significant gains, but have retreated nearly 10% from the April peak of $3500 [3]. - The Federal Reserve's decision to maintain interest rates in the 4.25%-4.5% range reflects a cautious policy shift, with expectations for a potential rate cut in July [4]. Group 2: Geopolitical and Economic Influences - Ongoing geopolitical tensions, such as the escalating Israel-Palestine conflict and concerns over U.S. debt ratings, are driving demand for gold as a safe-haven asset [4]. - Central banks globally purchased a net total of 1045 tons of gold in 2024, with China increasing its reserves to 2292 tons over 16 consecutive months, providing long-term support for gold prices [4]. Group 3: Technical Analysis and Market Sentiment - Key technical support for gold is around $3200, with a potential breakout above $3230 signaling a new upward trend [5]. - The largest gold ETF, SPDR, increased its holdings by 2.3 tons to 921.03 tons, indicating institutional optimism for the medium to long term [5]. - COMEX gold inventories have been decreasing, reflecting resilient physical demand, with stocks dropping to 1210.58 tons as of May 15 [5]. Group 4: Future Price Drivers and Variables - The upcoming review of the Federal Reserve's monetary policy framework in August will be crucial for determining the medium to long-term trajectory of gold prices [6]. - Geopolitical risks, including the ongoing Middle East tensions and U.S.-China trade relations, are expected to heighten inflation concerns, further enhancing gold's appeal as an inflation hedge [6]. Group 5: Investment Strategies and Risk Management - Long-term investors are advised to allocate 10%-15% of their portfolios to gold, balancing it with stocks and bonds to mitigate volatility [8]. - Short-term traders should focus on key price levels, employing strategies such as buying low and selling high, while setting strict stop-loss orders [8]. - The dynamic balance of risks, including potential dollar rebounds and geopolitical easing, necessitates careful monitoring and strategic adjustments in investment approaches [9].

在全球加密货币市场中，meme币作为一种独特的现象，引发了广泛的关注与讨论。从狗狗币到Shiba Inu，这些以幽默和文化梗为背景的代币，不仅在技术层面展现了去中心化金融的创新性，还在市场层 面引发了投资者的极大兴趣。然而，随着市场的不断发展，meme币的未来走向成为了一个值得深入探 讨的问题。meme币咋样？它们既有巨大的潜力，也面临着诸多挑战。 图片来源:币界网 近期，全球多地地方政府对比特币储备的探索引发了加密货币市场的广泛关注。这一趋势不仅反映了比 特币作为一种新兴资产类别的影响力，也凸显了市场对加密货币数据监测和分析的迫切需求。在此背景 下，XBIT去中心化交易所平台监测数据显示，地方政府的比特币储备动向不仅影响着比特币的价格走 势，还对整个加密货币市场的信心产生了深远影响。通过XBIT的监测系统，投资者可以实时获取比特 币储备的变化情况，从而更好地做出投资决策。 与此同时，传统加密货币交易所的退场潮也在加速。许多传统交易所因技术瓶颈和监管压力而逐渐退出 市场，这为去中心化交易所带来了新的发展机遇。XBIT去中心化交易所平台清算引擎通过智能合约自 动处理交易清算，不仅提高了交易效率，还降低了交易成本 ...

Core Viewpoint - The article discusses the historical significance and investment potential of gold, emphasizing its unique properties that make it an ideal currency and investment asset. It highlights the factors driving gold prices and the various investment channels available for investors. Group 1: Drivers of Gold Price Increase - Over the long term, gold prices have risen from approximately $35 per ounce in the 1970s to $3,250 currently, an increase of nearly 100 times. Key events contributing to this rise include the decoupling of the dollar from gold in 1971, leading to a decade-long price increase, and the 2008 financial crisis, which prompted investors to buy gold as a hedge against currency devaluation and political instability [3]. - Central banks globally have increased their gold holdings to mitigate international risks, with the People's Bank of China adding 62.21 tons, 224.88 tons, 44.17 tons, and 12.75 tons of gold from 2022 to 2025 (as of March 2025) [3]. - National policies, such as the Financial Regulatory Administration's notice in February 2025 allowing insurance funds to invest in gold, have also supported the long-term development of the gold market [4]. Group 2: Investment Channels for Gold - Gold is a crucial component for long-term asset allocation, with various investment channels available. Traditional methods include purchasing physical gold, which offers psychological security but incurs high storage costs and transaction complexities [10]. - Alternatives like "paper gold" (RMB account gold) allow investors to hold electronic certificates without the risks associated with physical storage. Gold ETFs provide another non-physical investment option, tracking gold prices through holding spot or futures contracts [10]. - Other investment options include gold trading contracts (gold TD), futures, and options, which carry higher risks and are more suitable for short-term trading rather than long-term investment [11]. Group 3: Long-term Investment Perspective on Gold - Gold's low correlation with stocks and bonds, along with its strong long-term inflation-hedging capabilities, makes it a valuable tool for constructing diversified investment portfolios and reducing volatility [12]. - Historical trends show that gold can experience prolonged cycles of price increases and decreases, exemplified by its peak in 1980 and subsequent decline until 2001. This characteristic underscores gold's suitability for long-term asset allocation [12].

Core Viewpoint - The process of combating inflation is currently underway, but persistent indicators of inflation remain too high [1] Group 1: Inflation Indicators - Persistent indicators of inflation are still elevated, indicating ongoing inflationary pressures [1] - The labor market has shown signs of weakness, which may impact inflation dynamics [1] Group 2: Consumer Sensitivity - Households may be more sensitive to inflation, suggesting potential changes in consumer behavior and spending patterns [1]