【1月26日大摩报告：黄金价格超预期且未到顶，目标5700美元/盎司】1月26日，大摩发布报告称，黄 金价格已超过该行对下半年4750美元/盎司的预测，且认为金价还未到顶。其上涨主要受地缘政治风 险、央行积极信号及ETF买盘支撑。 大摩指出，波兰央行以绝对吨位数为黄金储备目标，降低价格敏 感度；美联储今年降息预期将支持贵金属ETF买盘，上海白银现货价飙升或使供应紧缩延续。 当下， 看涨黄金情境不断发酵，美元指数走弱、实物需求稳健、地缘政治风险高。大摩强调2026年下半年牛市 情境目标为5700美元/盎司。 本文由 AI 算法生成，仅作参考，不涉投资建议，使用风险自担 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com ...

Group 1 - The core viewpoint of the articles highlights a significant surge in resource and energy stocks in the A-share market, with companies like Zijin Mining and China National Offshore Oil Corporation (CNOOC) reaching historical highs in stock prices and market capitalization exceeding 1 trillion yuan [1] - The spot gold price has surpassed $5,000 per ounce for the first time, reaching $5,075.06 per ounce, driven by multiple factors including central bank gold purchases, expectations of U.S. Federal Reserve interest rate cuts, geopolitical risks, and trends towards de-dollarization [1][2] - Central banks globally, including those in China, India, Turkey, and Poland, are accelerating their gold reserves, with China's gold reserves reaching 74.15 million ounces as of December 2025, marking 14 consecutive months of increases [1][2] Group 2 - The World Gold Council reported that as of November 2025, the total official gold reserves of the U.S. exceeded 900 million troy ounces, valued at $3.93 trillion, surpassing U.S. Treasury bonds as the largest reserve asset for the first time in 30 years [2] - Goldman Sachs predicts that global central banks will net purchase approximately 60 tons of gold monthly in 2026, potentially leading to a record annual gold buying volume [2] - The rise in gold prices is attributed to three long-term structural factors: ongoing large-scale gold purchases by central banks, expectations of monetary easing in major economies, and increased demand for gold from the private sector for hedging and asset allocation [2] Group 3 - Zijin Mining has forecasted a net profit of 51 to 52 billion yuan for 2025, representing a year-on-year increase of approximately 59% to 62%, driven by increased production and rising sales prices of gold, copper, and silver [3] - The oil and gas sector also showed strong performance, with companies like Tongyuan Petroleum and CNOOC experiencing significant stock price increases due to tight energy supply caused by a winter storm in the U.S., which pushed natural gas futures above $6 per million British thermal units [3] - The rising stock prices of resource sector leaders reflect both the transmission effect of international market price changes and investor recognition of their long-term resource endowment, operational efficiency, and sustainable development capabilities [3]

截至发稿，现货黄金报每盎司5078.20美元，涨幅1.9%;白银报每盎司107.72美元，涨幅4.6%。铂金价创 历史新高，钯金价同样走高。美元现货指数继上周下跌1.6%后，周一再跌0.4%。 智通财经APP获悉，国际金价首次站上每盎司5000美元关口，涨势依然迅猛。这一轮凌厉的上涨，背后 源于美国总统特朗普的外交格局重塑，以及投资者大举撤离主权债券和各国货币的市场行为。 受美元走弱进一步提振黄金需求的影响，现货黄金涨幅一度扩大至2.1%，价格逼近每盎司5100美元。 过去六个交易日，美元指数累计跌幅近2%;市场猜测美国或协助日本提振日元汇率，这一消息叠加对美 联储独立性的担忧、以及特朗普政策的反复性，进一步加剧了美元的弱势。白银价格同样创下历史新 高，突破每盎司109美元，实现三连涨。 黄金的吸引力也体现在持仓数据中：美国官方数据显示，截至1月20日当周，对冲基金及其他大型投机 者的黄金净多仓规模升至16周以来的最高水平。 上周末，特朗普发出威胁，称若加拿大与中国达成贸易协议，美国将对加拿大所有对美出口商品加征 100%关税，加美双边紧张局势进一步升级。与此同时，美国国内的政治不确定性仍居高不下：参议院 民 ...

总体而言，Alexandra认为，金价目前的上涨并非短期投机，而是建立在合理的基本面之上。地缘政治 风险的抬头、美联储政策的不确定性、美元弱势预期，以及央行尤其是中国人民银行的持续买盘，共同 构成了金价强劲上行的核心动力。随着金价逼近5000美元关口，市场对黄金的关注度持续升温，投资者 需密切留意地缘事件发展及央行购金动态，以评估后续走势的持续性。 金价持续攀升，突破每盎司5000美元大关，并每日刷新纪录。威廉博莱(William Blair)新兴市场债券团 队资深信用分析师Alexandra Symeonidi发表有关黄金市场的评论。她指，这波金价上涨属合理，受地缘 政治风险加剧及投资组合多元化需求推动所致。 年初以来，地缘政治风险再度成为市场焦点，金价随委内瑞拉相关消息及格陵兰的新闻而大幅上扬。投 资者对宏观环境的不确定性持续主导，美联储政策路径不明朗，美国经济前景存疑，加上下一任美联储 领导人选问题，进一步加剧市场波动。近期有关美联储相关传票的消息，更为整体市场不确定性雪上加 霜。另一方面，市场参与者普遍认为美元可能维持弱势，这一趋势持续为金价提供支撑。 Alexandra强调，地缘政治风险回归及宏观不 ...

Group 1: Oil and Related Products - The US Treasury imposed new sanctions on Iran, increasing concerns about Middle East crude supply disruptions. The Tengiz oil field's extended shutdown and US cold wave also affected the market. Despite a recent price rebound, the high inventory pressure in Q1 2026 may limit the price increase [2]. - Low - sulfur fuel oil followed crude oil in a callback due to the end of cold - wave speculation and EIA's unexpected inventory build - up. High - sulfur fuel oil remained strong, supported by geopolitical tensions and the strengthening of Asian spot spreads [22]. - Kpler data shows sufficient Venezuelan crude arrivals in January, but a significant reduction in shipments since January may lead to supply shortages in February and subsequent months. Cost support and weak terminal demand suggest a short - term bullish but volatile outlook for asphalt [23]. Group 2: Precious Metals - Geopolitical risks have raised the price center of precious metals. However, after gold and silver broke through key price levels, there may be short - term fluctuations due to profit - taking and overbought technical indicators. It is advisable to wait for a stable period before re - entering the market [3]. Group 3: Base Metals - Copper prices were pushed up by the trading sentiment of precious metals and a weak US dollar. Supply - side factors such as strikes in Chilean small mines and roadblocks affecting large mines are being monitored [4]. - Aluminum prices rebounded on Friday. Geopolitical factors caused market sentiment to fluctuate. The price is expected to oscillate at a high level, and attention should be paid to the price direction of gold and silver after breaking through key levels [5]. - Zinc prices are expected to oscillate between 24,000 - 25,000 yuan/ton in the short term. There is an opportunity for short - selling at the 25,000 yuan/ton level due to the expected supply surplus [8]. - Lead prices are expected to oscillate between 17,000 - 17,800 yuan/ton. The production of recycled lead is restricted by high costs and low prices, and environmental protection policies may affect future production [9]. - Nickel prices rose significantly with active trading. However, there is a risk of negative feedback from downstream due to high prices. Short - term sentiment is positive, and a long - position strategy is recommended [10]. - Tin prices continued to rise, driven by investment funds and the expected long - term demand from AI - related investments [11]. Group 4: Industrial Metals and Alloys - Cast aluminum alloy prices follow the trend of Shanghai aluminum. The market is inactive, and the supply surplus is difficult to change. The price difference with Shanghai aluminum is weaker than in previous years [6]. - Alumina production capacity is still high, and the supply surplus persists. With falling ore prices, the cost has decreased, but the price is under pressure, and the upside of the futures price is limited [7]. - Industrial silicon's supply is expected to be affected if major enterprises cut production. Demand is weakening, and inventory is increasing. The price is expected to be strong in the short term, and attention should be paid to whether it can break through the 9,000 yuan/ton level [14]. Group 5: Steel and Iron - related Products - Steel prices rebounded slightly. Rebar demand decreased slightly, production increased, and inventory accumulated again. Hot - rolled coil demand and production both decreased slightly, and inventory continued to decline [15]. - Iron ore prices oscillated last week. Global shipments decreased seasonally but remained high year - on - year. Domestic port inventory increased significantly. Demand is weak, but there is still an expectation of winter stockpiling [16]. - Coke prices rebounded. The first price increase was postponed, production decreased slightly, and inventory increased slightly. The market is expected to oscillate in a range [17]. - Coking coal prices rebounded slightly. Production increased slightly, inventory increased, and winter stockpiling demand continued. The price is expected to oscillate in a range [18]. - Manganese ore prices increased slightly. There are structural problems in port inventory. Silicon - manganese production decreased slightly, and inventory decreased slightly. A short - selling strategy on price rebounds is recommended [19]. - Silicon - iron prices increased slightly. Affected by policies, the price is relatively strong. Supply decreased significantly, inventory decreased slightly. A short - selling strategy on price rebounds is recommended [20]. Group 6: Chemical Products - Polycrystalline silicon's overseas orders increased, but the spot trading is weak. The futures price may face pressure in the future, waiting for the official guidance from the exchange [13]. - Urea prices were stable over the weekend. Downstream demand increased, and production enterprises continued to reduce inventory. The price is expected to oscillate strongly in the medium - to - long term [24]. - Methanol prices fluctuated due to geopolitical factors. Overseas production is low, and domestic port inventory is high. However, the expected reduction in imports in Q1 provides support, and the short - term price is expected to be strong [25]. - Pure benzene's upward momentum weakened. Supply decreased, demand increased slightly, and inventory in East China ports decreased significantly. The short - term price is expected to oscillate strongly, and slow inventory reduction is expected in the long term [26]. - Styrene prices increased significantly, but downstream resistance to high prices may limit the upside. Supply - demand competition may intensify [27]. - Propylene supply has no obvious pressure, and downstream demand is weak. Polyethylene supply will increase, and demand is weakening. Polypropylene supply pressure is not large, but demand is weak [28]. - PVC prices are strong. Factory inventory decreased, but social inventory increased. There is a possibility of capacity reduction and increased exports this year. Caustic soda prices are oscillating, with high inventory and high production. The profit of chlor - alkali integration may continue to be compressed [29]. - PX and PTA prices increased. There is a risk of inventory accumulation around the Spring Festival. In Q2, there may be opportunities for long - positions in PX processing margins and positive spreads, subject to downstream demand [30]. - Ethylene glycol production decreased slightly, and polyester load is expected to decline. There is an expectation of inventory accumulation around the Spring Festival. In Q2, supply - demand conditions may improve, but the long - term price is under pressure [31]. - Short - fiber production is high, and inventory is low. Downstream orders are weak, but sales increased due to raw material price increases. Bottle - chip production decreased, and processing margins improved slightly. Long - term capacity pressure remains [32]. Group 7: Building Materials - Glass inventory increased slightly, and there is a risk of further accumulation during the downstream holiday season. Production is currently unprofitable, and the price may fluctuate with the macro - environment. Attention should be paid to future capacity changes [33]. - Soda ash inventory decreased slightly but remains under pressure. Some enterprises cut production. The short - term price is expected to follow the macro - trend, and a short - selling strategy on price rebounds is recommended in the long term [34]. Group 8: Agricultural Products - Soybean meal prices oscillated. South American soybean harvest is affected by weather, and Chinese soybean purchases are progressing. Attention should be paid to the Brazilian harvest and potential imports from Canada [35]. - Palm oil and soybean oil prices are strong. US biomass diesel policies are favorable, and the supply - demand situation in Indonesia and Malaysia needs to be monitored [36]. - Rapeseed and rapeseed oil prices are expected to oscillate at the bottom. Rapeseed supply in Canada is sufficient but exports are weak. The supply of rapeseed oil may be slightly tighter than that of rapeseed meal [37]. - Domestic soybean prices rebounded from a low level. Attention should be paid to policy and spot market guidance [38]. - Corn prices are relatively strong due to reduced available supply and pre - holiday restocking demand. Future price trends depend on the sales progress in Northeast China and auction results [39]. - Pig prices are expected to be strong before the Spring Festival but weak after the holiday. The industry still needs to reduce production capacity, but the current price recovery may slow down this process [40]. - Egg prices are strong due to pre - festival stocking and reduced supply. In the long - term, the fundamental situation is improving, and a long - position strategy on price dips is recommended [41]. - Cotton prices are oscillating. US cotton exports increased significantly. Domestic cotton inventory is high, but demand is stable. The impact of the reduction in Xinjiang's planting area is uncertain [42]. - Sugar prices are oscillating. Indian sugar production is progressing rapidly, while Thai production is slow. In China, the focus is on the expected difference in production. The short - term price faces pressure [43]. - Apple prices are oscillating. Cold - storage sales increased for the Spring Festival, but poor fruit quality and high prices may affect inventory reduction [44]. - Wood prices are at a low level. Supply is expected to decrease, demand has increased slightly, and low inventory provides some support. Temporarily hold off on trading [45]. - Pulp prices are oscillating. Downstream demand is weak, and inventory has been increasing for three consecutive weeks. Paper mills' purchases are mainly for immediate needs. Temporarily hold off on trading [46]. Group 9: Financial Products - A - share indexes rose, and futures contracts showed different trends. The market is concerned about the continuity of US dollar liquidity repair and the impact of the Greenland conflict on risk appetite. A - shares are expected to shift from rapid upward movement to a strong - oscillating trend [47]. - Bond prices were strong last week. In the short - term, the yield of medium - to - long - term bonds is likely to oscillate, and the short - term yield may continue to decline due to loose liquidity. There are opportunities for steepening the yield curve and flattening the ultra - steep spread [48]. Group 10: Shipping - The container shipping index (European line) oscillated last week. The "weak reality" logic suppressed the price, while CMA CGM's suspension of resuming flights provided short - term support. The market is expected to be weak - oscillating in the future, and the key factors for near - term and far - term contracts are different [21].

大摩发表报告指， 黄金价格已超越该行对下半年4750美元/盎司的预测，然而该行认为金价尚未见顶， 主要受地缘政治风险、央行释放的积极信号及ETF买盘支撑。大摩指出，波兰央行正转向以绝对吨位数 作为黄金储备目标，而非占总储备比例，显示其对价格敏感度降低；美联储今年的降息预期应能持续支 持贵金属ETF买盘；上海 白银现货价格飙升，表明供应紧缩局面可能延续。看涨黄金情境正在发酵， 美元指数走弱、实物需求稳健及地缘政治风险居高不下，该行强调对2026年下半年的牛市情境目标为 5700美元/盎司。 ...

投资咨询业务资格：证监许可【2012】31号 【纯苯&苯乙烯周报】 市场资金加速流入，纯苯苯乙烯大幅上涨 国贸期货 能源化工研究中心 2026-01-26 国贸期货研究院 能源化工研究中心：陈胜 从业资格证号：F3066728 投资咨询证号：Z0017251 苯乙烯：市场资金加速流入，纯苯苯乙烯大幅上涨 | 影响因素 | 驱动 | 主要逻辑 | | --- | --- | --- | | 供给 | 偏多 | 关于苯乙烯的经济性，苯乙烯与石脑油的价差为342美元，苯乙烯与苯的价差稳定在212美元，非一体化装置利润修复。 | | 需求 | 偏多 | 截至2026年1月19日，江苏纯苯港口样本商业库存总量：29.7万吨，较上期库存32.4万吨去库2.7万吨，环比下降8.33%；较去年同期库存14.3万吨累库15.4 万吨，同比上升107.69%。1月12日-1月18日，不完全统计到货0吨，提货约2.7万吨。 | | 库存 | 中性 | 截至2026年1月19日，江苏苯乙烯港口样本库存总量：9.35万吨，较上周期减0.71万吨，幅度-7.06%。商品量库存在5.89万吨，较上周期减0.1万吨，幅度 1.67%。 | ...

Report Industry Investment Ratings - Not provided in the given content Core Views - Policy cools market speculative sentiment, leading to stock index oscillations, but short - term adjustment space is limited, and long - term bulls can enter the market at appropriate times. Asset shortage and weak economy benefit bond futures, but the central bank warns of interest - rate risks. With the US suspending key mineral taxes, copper prices are oscillating strongly. Various factors influence different commodities, and specific trading strategies are recommended for each [1]. Summary by Industry and Variety Macro - finance - **Stock Index**: Policy cools speculative sentiment, causing oscillations. Short - term adjustment space is small, and long - term bulls can enter at opportune moments [1]. - **Treasury Bonds**: Asset shortage and weak economy are favorable, but the central bank warns of short - term interest - rate risks, and attention should be paid to the Bank of Japan's interest - rate decision [1]. Non - ferrous Metals - **Copper**: With the US suspending key mineral taxes, short - term concerns ease, and copper prices are oscillating strongly [1]. - **Alumina**: Industry drive is limited, but macro sentiment improves. Domestic supply is strong and demand is weak, and prices are expected to oscillate around the cost line [1]. - **Zinc**: The cost center is stable, and prices fluctuate in a range. Look for high - selling and low - buying opportunities [1]. - **Nickel**: Supply concerns persist due to various factors, and prices are strong in the short term. Long - term high inventory may have a suppressing effect. Short - term buying on dips is recommended [1]. - **Stainless Steel**: Supply concerns persist, raw material prices rise, and social inventory decreases slightly. Futures are at a high level, and there is a risk of a short squeeze. Short - term low - buying is recommended [1]. - **Tin**: Market sentiment improves. Although there is a negative news, supply increase in the first quarter is limited, and there is upward potential [1]. Precious Metals and New Energy - **Precious Metals**: Geopolitical risks and strong fundamentals support prices, but there is a risk of profit - taking during the Fed's meeting [1]. - **Platinum and Palladium**: Macro factors support prices in the short term, but fluctuations are large. In the long term, platinum has a supply - demand gap, and palladium tends to have a loose supply. Unilateral low - buying of platinum or a [long platinum, short palladium] arbitrage strategy is recommended [1]. - **Industrial Silicon and Polysilicon**: Northwest production increases, and Southwest production decreases. December production schedules for polysilicon and organic silicon decline [1]. - **Lithium Carbonate**: There are factors such as the off - season for new energy vehicles, strong energy - storage demand, and battery export rush [1]. Black Metals - **Rebar**: Expectations are strong, but spot is weak, and the rally momentum is insufficient. Unilateral long positions should be closed, and positive - spread positions can be considered [1]. - **Hot - Rolled Coil**: High production and inventory suppress price increases. Unilateral long positions should be closed, and positive - spread positions can be considered [1]. - **Iron Ore**: There is a sector rotation, but there is obvious upward pressure, and chasing long is not recommended [1]. - **Glass and Soda Ash**: There is a mix of weak reality and strong expectations. Supply may be affected by energy - consumption control and anti - involution. Short - term sentiment is warm, but medium - term supply is excessive [1]. - **Coking Coal and Coke**: The market is pessimistic about the coking coal 05 contract. After the first round of coke price increase fails, the price breaks through key supports, and the previous low - buying strategy may change [1]. Agricultural Products - **Palm Oil**: Main consumer countries start purchasing, and there may be production cuts and inventory reduction in the origin. It is expected to be strongly oscillating [1]. - **Soybean Oil**: Fundamentals are strong, and long - position allocation in oils is recommended. Consider the long Y - short O1 spread [1]. - **Rapeseed Oil**: There are negative factors, but it is difficult to fall smoothly due to the strength of soybean and palm oils. It is recommended to wait and see [1]. - **Cotton**: There is production expectation, and the purchase price supports the cost. Downstream demand has rigid replenishment needs. The market is in a state of "supported but lacking drive" [1]. - **Sugar**: There is a global surplus and increased domestic supply. There is a consensus on short - selling, and cost support is strong if prices fall [1]. - **Corn**: The selling progress in Northeast China is fast, and there is inventory - replenishment demand before the festival. The price is expected to oscillate [1]. - **Soybeans**: Brazil's harvest may bring selling pressure, and Argentina's dry weather may cause short - term speculation. The M05 is expected to be weakly oscillating [1]. - **Paper Pulp**: Affected by the macro decline, it falls but does not break the oscillation range. It is recommended to wait and see [1]. - **Logs**: Spot prices rebound, and the downward space for futures is limited. It is expected to oscillate between 760 - 790 yuan/m³ [1]. - **Hogs**: Spot prices stabilize, demand supports, and production capacity needs further release [1]. Energy and Chemicals - **Crude Oil**: OPEC+ suspends production increase, geopolitical tensions in the Middle East rise, and US cold weather boosts demand [1]. - **Asphalt**: Short - term supply - demand contradiction is not prominent, following crude oil. The "14th Five - Year Plan" construction demand may be false, and supply is sufficient, with high profits [1]. - **Natural Rubber**: There is strong raw - material cost support, and the synthetic - rubber price increase drives the sector [1]. - **BR Rubber**: There is strong support for butadiene, and the market's price - support atmosphere strengthens. It operates with high开工 and high inventory [1]. - **PTA and Short - Fibre**: The PX market drives the rise of chemicals, and there is a large inflow of funds. PTA production increases, and short - fibre prices follow costs [1]. - **Ethylene Glycol**: Overseas prices rebound, and Middle - East exports decrease. There is an increase in speculative demand [1]. - **Styrene**: The supply - demand fundamentals improve, and prices rebound. The price spread between styrene and benzene widens, and inventory decreases [1]. - **Urea**: Export sentiment eases, and there is limited upward space, but there is support from anti - involution and cost [1]. - **Methanol**: Import is expected to decrease due to the Iranian situation, but there is obvious downstream negative feedback. There are multiple factors in a multi - empty situation [1]. - **PVC**: Global production is expected to be low in 2026, but the fundamentals are poor. There may be a rush for exports, and capacity may be cleared [1]. - **Caustic Soda**: Macro sentiment fades, and the market focuses on fundamentals. Fundamentals are weak, and there is inventory - building pressure [1]. - **LPG**: February CP is expected to rise, and there is cost support. Inventory decreases, and the heating market is expected to start [1]. Others - **Container Shipping on European Routes**: It is expected to peak in mid - January. Airlines are cautious about resuming flights, and there is pre - festival inventory - replenishment demand [1].

这一主张在德国国内引发广泛共鸣，德国前央行研究部门负责人指出，地缘政治动荡时期将巨额黄金存放美国存在潜在风险，减少对美依赖需从战略物资储 备开始调整。 德国绿党发言人亦持类似立场，认为特朗普执政时期的美国已与往昔不同，储备黄金绝不能沦为政治博弈的筹码，为规避"黄金被扣押"风险，本土存储才是 最稳妥方案。 作为全球第二大黄金储备国，德国的黄金储备总量达3350吨，仅次于美国，且遥遥领先身后的法国、意大利、俄罗斯等储金大国。 3350吨储备黄金里，有1236吨存放在纽约联邦储备银行金库，占其总储备的37%；另有13%存放于伦敦，剩余约半数由法兰克福本国金库保管。 这1236吨黄金价值近2000亿欧元，若按国别排序可位列全球第七，正是如此庞大的体量，令德国部分官员对存放在海外的储备黄金安全性深感忧虑。 随着国际金价持续攀升，各国央行加速增持黄金储备的态势愈发显著。 然而，黄金购入后的存放问题却鲜为人知，不同于大众想象中"必须存于本国"的认知，大量黄金储备实际被托管在纽约、伦敦、巴黎等国际金融中心的银行 金库中。美国纽约联邦储备银行更是全球最大的黄金托管地，但这种格局正悄然生变。 德国的一位议员近期公开呼吁政府将存放 ...

1月26日，黄金价格再度刷新历史新高。 国际金价突破5000美元关口 美国东部时间1月25日傍晚，纽约商品交易所2月黄金期货价格在电子盘交易中突破每盎司5000美元的历 史性关口。 1月26日，现货黄金价格突破每盎司5000美元，再创历史新高。 01 截至今日（26日）上午8时许，现货黄金价格上涨1.08%，报5036.57美元，盘中一度创下每盎司5043.9 美元的历史新高。美国黄金期货价格也上涨逾1%，一度站上5080美元。 2026年以来，国际金价接连跨越4600至4900美元多个整数关口，呈现极强涨势。国内黄金消费市场上， 部分主流品牌足金饰品报价已突破每克1551元。 此外，周一其它贵金属价格也普遍上涨。白银价格涨超2%，创下每盎司106.56美元的历史新高。铂金 价格小幅上涨，达到每盎司2798.46美元的新高。 02 上涨加速 从4000到5000美元仅用3个月 之后，国际金价一路上行，至2025年10月，触及每盎司4000美元，用时7个月左右。 而国际金价自每盎司4000美元至今涨破每盎司5000美元，用时仅为3个多月。 03 金价为何暴涨？ 不同于一般投资品，黄金具备商品属性、金融属性、投资 ...