1月29日早间，现货黄金快速突破5500美元，最高逼近5600美元，再度刷新纪录。过去4个交易日，现货 金价已连破每盎司5000美元、5100美元、5200美元、5300美元、5400美元、5500美元这6道整百关口。 国际金价的上涨传导至国内市场，29日早间，国内部分主流金饰品牌报价刷新至1700元／克，创下历史 新高，单日上涨百元左右。 "本轮涨势的主要驱动力来自避险买盘，背后则是美国政策环境的不确定性和不可预测性上升，包括地 缘政治问题的不确定性、围绕美联储独立性的潜在压力，以及对美国财政前景、债务负担和政治极化加 剧的担忧。"程小勇说，多重风险叠加下，贵金属作为避险资产的配置需求明显增强。 程小勇进一步表示，贵金属的持续上涨意味着市场不仅在定价地缘政治风险，更在交易"货币贬值"预 期，投资者纷纷寻求避险资产，传统避险资产美债则因美国信用的削弱和其破坏国际秩序的举动而遭到 抛售。 华安基金指数与量化投资部基金经理助理、首席黄金研究员周泓灏在接受新华财经采访时表示，多重不 确定性交织，共同推升了黄金行情。一方面，在1月美联储议息会议上，美联储主席鲍威尔再次强调维 护美联储独立性，而新一任美联储主席人选仍悬 ...

编辑丨张桔 1月28日，现货黄金价格首次站上5200美元/盎司关口，黄金亦斩获近6年最佳单周表现。从过去12个月 的价格表现看，国际金价飙升85%，而金价持续上涨的背后是地缘政治风险与通胀预期的支撑。 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！ 文丨谢长艳 随着国际金价持续攀升，黄金板块迎来业绩与估值的双重驱动，尤其是黄金矿业股。以赛道龙头紫金矿 业为例，公司预告2025年归母净利润510亿元至520亿元，同比增幅近60%。此外，黄金零售企业与矿业 企业出现分化，但也凸显出黄金零售结构性的机会。以中国黄金为代表的零售企业因终端消费疲软业绩 预减，凸显出行业结构性机会。 1月27日，黄金板块再度走强，港股紫金矿业股价创出历史新高45.18港元。根据其最新公告显示，公司 控股子公司紫金黄金国际计划以44加元/股的现金价格，收购Allied Gold Corporation（"联合黄金"）全部 已发行的普通股，收购对价共计约55亿加元（约合人民币280亿元）。 美债遭减持 各国央行增持黄金 2026年以来，地缘事件纷至沓来，美国总统特朗普对于全球秩序的挑战加剧政治经济前景不确定性，国 ...

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！ 来源：金十数据 造成这一现象的原因很直接：一方面是金价居高不下；另一方面，随着金价飙升，各国现有黄金储备的 市值自然膨胀，为了维持资产配置比例，官方进一步增持的意愿受到抑制。 ETF与实物金条遭抢筹 与官方的谨慎形成鲜明对比，民间投资需求呈现爆发式增长。受交易所交易基金（ETF）巨额资金流入 以及金条需求攀升的推动，去年全球黄金投资需求激增84%，达到2175吨。 "市场的最大亮点无疑是投资需求。而那个'暗点'——或者说让人始料未及之处——在于央行需求的降 温，"世界黄金协会市场策略师John Reade分析道，"但我们看到，投资端的狂热完全掩盖了央行买盘的 疲软。" Reade进一步预测，今年央行的购金量可能会比去年再减少200至250吨，尽管这一预测仍存在较大的不 确定性。 金价的表现令人咋舌。继去年飙升超60%后，今年金价已进一步上涨逾20%，本周更是逼近每盎司5600 美元关口。 支撑这一史诗级行情的宏观背景错综复杂：格陵兰岛和伊朗的地缘政治紧张局势，以及市场对各国政府 债务水平失控的担忧，共同成为了金价的助推剂。 资金流向印证 ...

据央视新闻，当地时间1月28日，美联储最新的联邦公开市场委员会（FOMC）货币政策会议纪要显 示，美联储决定将联邦基金利率目标区间继续维持在3.5%至3.75%之间。在此次利率政策出台前，市场 普遍预期美联储将在本周政策会议上维持利率不变，此前该机构已在2025下半年连续三次降息。 央广网北京1月29日消息（记者 宓迪）国际金价本周内连破多个重要关口，接连创下新高。Wind数据显 示，截至1月29日14时10分，现货黄金（伦敦金现）报5586.470美元/盎司，日内涨3.11%，最高触及 5598.750美元/盎司，创下新高；COMEX黄金期货价格报5583.3美元/盎司，当日涨4.55%，最高触及 5626.8美元/盎司，同样创下新高。今年以来，现货黄金、COMEX黄金期货涨幅分别达到29.37%、 28.88%。 国内黄金品牌金饰价格方面，截至记者发稿，周生生足金饰品价格为1708元/克；老庙足金饰品价格为 1706元/克；周大福足金（饰品、工艺品类）价格为1706元/克。 财信金控首席经济学家、财信研究院副院长伍超明对央广财经记者表示，今年以来金价呈现突破性上涨 态势，显示市场对贵金属的配置热情达到阶段 ...

Group 1 - The market is currently experiencing a "performance verification period," shifting from a liquidity-driven valuation expansion to a focus on companies with real profits and orders [3] - The external environment is changing, with the Federal Reserve's interest rate path stabilizing, making RMB assets an attractive option for global diversification [4] - Long-term industry trends, such as AI development, global technology cycles, and domestic supply-side optimization policies, are forming a solid foundation for the market's mid-term outlook [4] Group 2 - The recommended asset allocation focuses on technology and cyclical sectors, with technology being driven by the ongoing global AI trend and its transition from training to real-world applications [5] - In the cyclical sector, there is a suggestion to consider non-ferrous metals and securities, with expectations of price increases driven by the Federal Reserve's interest rate cuts and improving fundamentals [5][6] - Three reinforcing logics include the rigid supply of key resources, rising macro hedging demand for precious metals, and the strategic importance of resource security in national policy [6][7][8] Group 3 - For balanced asset allocation, broad-based indices like the CSI A500 and the Growth Enterprise Market Index are recommended, along with defensive assets suitable for long-term holdings [9]

FICC日报 | 2026-01-29 美联储如期按兵不动，关注伊朗局势 市场分析 通胀叙事大趋势不改。12月11日中央经济工作会议召开：会议强调，深入实施提振消费专项行动；强调深入整治"内 卷式"竞争制定和实施；会议确认，把促进经济稳定增长、物价合理回升作为货币政策的重要考量。后续继续提振 消费，以及推进"反内卷"的大方向并未发生变化，未来物价回升路径仍需关注供给侧的政策方向。1月15日，央行 宣布下调各类结构性货币政策工具利率0.25个百分点，各类再贷款一年期利率降至1.25%，其他期限档次利率同步 调整。并强调，今年降准降息还有一定空间，人民币汇率预计将继续双向浮动，保持弹性。1 月 20 日，财政部官 网集中发布 5 个重要政策文件，涵盖个人消费贷款、设备更新、中小微企业贷款、服务业经营主体贷款及民间投 资专项担保五大领域，以 "延长期限、扩大范围、提高标准" 为核心导向，通过财政贴息与担保支持，降低融资成 本、激发市场活力，助力扩大内需与经济高质量发展。此外，伊朗和委内瑞拉的地缘局势骤紧，在民粹主义和贸 易保护主义思潮下，全球争夺矿产和能源资源的局势明朗。同时，特朗普近期就格陵兰岛一系列事件使得美国 ...

摘要今日周四(1月29日)亚盘时段，国际黄金最新报价为1241.97元/克，较前一交易日上涨32.41元，涨幅 2.68%，日内呈现高位震荡走势。当日开盘价报1209.49元/克，盘中最高触及1248.89元/克，最低下探至 1209.25元/克。 今日周四(1月29日)亚盘时段，国际黄金最新报价为1241.97元/克，较前一交易日上涨32.41元，涨幅 2.68%，日内呈现高位震荡走势。当日开盘价报1209.49元/克，盘中最高触及1248.89元/克，最低下探至 1209.25元/克。 【要闻速递】 "美联储传声筒"指出，自去年夏天以来，美联储主席鲍威尔已第四次在新闻发布会上拒绝透露5月15日 主席任期结束后是否留任理事会，仅反复强调"不想谈论这个问题"。 对特朗普而言，鲍威尔明确离职是关键：若其5月15日离任，特朗普将获得第二个理事席位，可同时提 名新主席及填补空缺，锁定理想委员会构成;若留任，新主席需占据仅有的米兰席位(任期届满)，米兰将 出局，且无其他空缺(最高法院驳回罢免理事库克的请求)。 历史上，仅前主席埃克尔斯(1934-1948)卸任后留任理事(应杜鲁门要求)，格林斯潘也曾因热爱工作可能 留 ...

Report Industry Investment Rating - The overall rating for commodities and stock index futures is neutral [6] Core Viewpoints - The inflation narrative trend remains unchanged, and future price recovery paths depend on supply - side policy directions [2] - There is a certain divergence in domestic and overseas economic outlooks. Overseas economic prosperity has declined since October, while China's exports and new orders are still positive [4] - In the short - term, attention should be paid to the rotation possibility of low - valuation sectors in the commodity market [5] Summary by Related Catalogs Market Analysis - The Central Economic Work Conference emphasized boosting consumption and anti - "involution" competition, and the central bank cut the interest rates of various structural monetary policy tools by 0.25 percentage points on January 15th [2] - The Ministry of Finance released 5 important policy documents on January 20th to support multiple loan fields, aiming to expand domestic demand [2] - Geopolitical tensions between Iran and Venezuela have tightened, and Trump's actions have strained US - European relations, accelerating the global de - dollarization trend [2] - The Chicago Mercantile Exchange (CME) adjusted the margin parameters of some silver, platinum and palladium futures contracts on the 27th [2] - On January 28th, the Fed kept the federal funds rate target range at 3.50% - 3.75%, with two members opposing and preferring a 25 - point rate cut [3] - After the Fed's decision, the US dollar index rose and spot gold reached $5500 per ounce [3] - The US Treasury Secretary said that Trump's candidate for Fed Chairman may be announced in about a week [3] Domestic and Overseas Economic Conditions - Since October, overseas economic prosperity has declined, but China's exports and new orders are positive. In December, China's exports denominated in US dollars increased by 6.6% year - on - year, and imports increased by 5.7% [4] - China's GDP growth target of 5% in 2025 was achieved. In December, the year - on - year growth rate of social retail sales slowed to 0.9%, and the industrial added value of large - scale industries increased by 5.2%. The annual fixed - asset investment decreased by 3.8%, and real estate development investment decreased by 17.2% [4] - China's official manufacturing PMI in December was 50.1, returning to the expansion range, and the non - manufacturing PMI was 50.2, both better than expected. The US ISM manufacturing index in December dropped slightly to 47.9, and the European manufacturing PMI in January slightly exceeded expectations [4] - The Bank of Japan kept interest rates unchanged, with one member supporting a rate increase. The US Treasury Secretary affirmed the strong - dollar policy and denied intervention in the yen exchange rate [4] Commodity Market - In the non - ferrous sector, the long - term supply restriction has not been alleviated, but the short - term upward trend may slow down [5] - In the energy sector, the US will "distribute" Venezuelan oil, Trump hopes to lower oil prices to $50 per barrel, and the US Energy Secretary called for doubling global crude oil production [5] - In the chemical industry sector, the "anti - involution" and stock - commodity linkage space of methanol, PTA and other varieties are worthy of attention [5] - In the agricultural products sector, attention should be paid to weather forecasts and short - term pig diseases [5] - In the black metal sector, attention should be paid to domestic policy expectations and the possibility of low - valuation repair [5] - In the precious metals sector, the accelerating de - dollarization trend has opened up room for the rise of gold [5] Strategy - The strategy for commodities and stock index futures is overall neutral [6] Important News - The Shanghai Gold Exchange adjusted the margin level and price limit ratio of the silver deferred contract on January 30th [7] - Trump downplayed the risk of US dollar depreciation, and the euro - US dollar exchange rate broke through 1.20 [7] - On January 28th, Iran expressed its willingness to negotiate but would defend its interests if pressured. Trump sent a fleet to Iran and threatened more severe strikes [7] - Iran's Supreme Leader's defense advisor warned that any US military action would lead to an immediate, comprehensive and unprecedented response from Iran [7] - The Fed's FOMC interest rate decision was in line with expectations, and Fed Chairman Powell suggested that the next Fed Chairman should be separated from politics [7] - US Treasury Secretary Besent discussed multiple topics, including the Fed Chairman candidate, monetary policy, exchange rate and the S&P 500 index breakthrough [7]

2 2019 投资咨询业务资格:证监许可【2012】31号 ITG国贸期货 贵金属数据日报 | | | | | 国贸期货研究院 | | 投资咨询号:Z0013700 | | | 2026/1/29 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 贵金属与新能源研究中心 白素娜 | | 从业资格号:F3023916 | | | | | 内外盘金 | 日期 | 伦敦金现 | 伦敦银现 | COMEX黄金 | COMEX白银 | AU2602 | AG2602 | AU (T+D) | AG (T+D) | | 银15点价 | | (美元/盎司) | (美元/盎司) | (美元/盎司) | (美元/盎司) | (元/克) | (元/千克) | (元/克) | (元/千克) | | 格跟踪 | 2026/1/28 | 5264. 93 | 114. 87 | 5258.00 | 114. 88 | 1189.88 | 29031.00 | 1180. 50 | 29300.00 | | (本表数 | | | | | | ...

截至2026年1月29日 13:19，黄金ETF博时(159937)上涨5.63%，冲击5连涨。最新价报11.89元。拉长时间看，截至2026年1月28日，黄金ETF博时近1周累计上 涨8.62%。 流动性方面，黄金ETF博时盘中换手4.39%，成交25.17亿元。拉长时间看，截至1月28日，黄金ETF博时近1周日均成交21.80亿元。 消息面上，全球地缘政治局势的不确定性成为金价短期暴涨的直接推手。地区冲突、贸易摩擦多点爆发，加剧了市场恐慌情绪。投资者对风险资产偏好下 降，黄金作为传统避险资产，成为资金涌入的"避风港"，推动买盘大幅增加。世界黄金协会明确指出，黄金已成为当前市场首选的避险资产，避险溢价持续 支撑金价走高。 业内专家表示，"去美元化"浪潮下黄金多头格局已定。联准会近期卷入相关司法调查的消息，进一步加剧了金融市场的动荡。在美元预期维持弱势的背景 下，资金流向黄金的趋势短期内难以逆转。长期来看，全球央行对黄金储备的多元化配置，为金价提供了坚实的支撑底部。 国泰海通证券分析指出，在供需紧平衡格局下，宏观因素对贵金属价格走势更具决定性影响；2026年美联储降息预期延续、区域博弈加剧及美元信用弱化趋 势 ...