4.印尼能源和矿产资源部部长表示，印尼可能在2026年批准约6亿吨的煤炭产量配额，并将根据行业需求调整其镍配额。印尼 镍冶炼厂协会估计，2026年国内冶炼厂的镍矿需求将从2025年的约3亿吨升至约3.4亿至3.5亿吨。 5.芝商所（CME）当地时间8日发出通知，上调贵金属品种履约保证金，这是其近一个月以来第三次发出此类通知。通知称，其 将于当地时间1月9日盘后，上调黄金、白银、铂金和钯金期货的跨期价差及相关价差合约履约保证金。 重点关注 尿素、碳酸锂、多晶硅、原油、塑料 夜盘表现 板块表现 -8.00 -7.00 -6.00 -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 板块涨跌幅（%） -10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% -5.00% -4.00% -3.00% -2.00% -1.00% 0.00% 1.00% 2.00% 商品期货主力合约夜盘涨跌幅 涨跌幅 增仓比率（右轴） 非金属建材, 2.17% 贵金属, 30.68% 油脂油料, 8.01% 有色, 28.17% 软商 ...

随着过去一年金价大幅上涨以及各国央行大举买入，黄金或已超越美国国债，成为全球最大的储备资 产。 根据世界黄金协会（WGC）本月公布的数据，美国海外全球官方黄金储备总量超过9亿金衡盎司。这些 来自国际货币基金组织（IMF）的数据主要反映了截至11月底的情况，少部分国家的数据统计截至10月 厎。 按11月30日的金价计算，这相当于3.82万亿美元的黄金。相比之下，截至10月份，美国以外的政府持有 的长期和短期美债价值接近3.88万亿美元。 他表示："三个月前我刚首次谈论这个话题时，两者差距还很明显。而如今，基于估算和当 前价格，差距已不复存在。" 黄金能够摘得 "储备资产桂冠" 并不令人意外——毕竟去年一年金价涨幅高达66%。 黄金储备地位的跃升意味着各国对美国金融体系的敞口正在减少——这可能是由于美元贬值所致，也可 能是为了规避资产被特朗普政府冻结或制裁的风险。 2026年第一周，金价延续了去年的强劲涨势，这再次凸显了其避险属性。受上周六美国抓捕委内瑞拉总 统引发的市场不确定性影响，纽约商品交易所黄金主力期货合约周一上涨2.8%，周二再度上涨1%。不 过，随着投资者获利了结，周三金价出现回调。 黄金的长期走势取 ...

NDR首席宏观策略师Joe Kalish在周一的一份研报中指出，随着人们对法定货币的信任度降低，黄金和其它金属的吸引力大幅提升。根据 Kalish的说法，非美国家持有的黄金储备价值正朝着超过其美债储备价值的方向迈近。 他表示："三个月前我刚首次谈论这个话题时，两者差距还很明显。而如今，基于估算和当前价格，差距已不复存在。" 黄金能够摘得 "储备资产桂冠" 并不令人意外——毕竟去年一年金价涨幅高达66%。 黄金储备地位的跃升意味着各国对美国金融体系的敞口正在减少——这可能是由于美元贬值所致，也可能是为了规避资产被特朗普政府冻结 或制裁的风险。 随着过去一年金价大幅上涨以及各国央行大举买入，黄金或已超越美国国债，成为全球最大的储备资产。 根据世界黄金协会（WGC）本月公布的数据，美国海外全球官方黄金储备总量超过9亿金衡盎司。这些来自国际货币基金组织（IMF）的数 据主要反映了截至11月底的情况，少部分国家的数据统计截至10月厎。 按11月30日的金价计算，这相当于3.82万亿美元的黄金。相比之下，截至10月份，美国以外的政府持有的长期和短期美债价值接近3.88万 亿美元。 在国际金融领域，官方储备指一国官方货币当 ...

1月8日，随着过去一年金价大幅上涨以及各国央行大举买入，黄金或已超越美国国债，成为全球最大的 储备资产。 根据世界黄金协会（WGC）本月公布的数据，美国海外全球官方黄金储备总量超过9亿金衡盎司。这些 来自国际货币基金组织（IMF）的数据主要反映了截至11月底的情况，少部分国家的数据统计截至10月 厎。 他表示："三个月前我刚首次谈论这个话题时，两者差距还很明显。而如今，基于估算和当前价格，差 距已不复存在。" 黄金能够摘得 "储备资产桂冠" 并不令人意外——毕竟去年一年金价涨幅高达66%。 黄金储备地位的跃升意味着各国对美国金融体系的敞口正在减少——这可能是由于美元贬值所致，也可 能是为了规避资产被特朗普政府冻结或制裁的风险。 2026年第一周，金价延续了去年的强劲涨势，这再次凸显了其避险属性。受上周六美国抓捕委内瑞拉总 统引发的市场不确定性影响，纽约商品交易所黄金主力期货合约周一上涨2.8%，周二再度上涨1%。不 过，随着投资者获利了结，周三金价出现回调。 黄金的长期走势取决于多重因素，包括美国的货币与财政政策。低利率与高通胀环境都会提升黄金的吸 引力，美元的表现以及各国央行购金潮能否延续，同样是市场关注的 ...

转自：智通财经 【黄金有望超越美债 成为美国海外政府持有的最大储备资产】智通财经1月7日电，据报道，受过去一 年金价暴涨和各国央行积极购入的推动，黄金有望超越美国国债，成为美国海外政府持有的最大储备资 产。根据世界黄金协会本月公布的数据，美国海外全球官方黄金储备总量超过9亿金衡盎司（大部分国 家的数据统计截至11月厎，少部分国家的数据统计截至10月厎）。按11月30日的金价计算，这相当于 3.82万亿美元的黄金。相比之下，截至10月份，美国海外政府持有的长期和短期美债价值接近3.88万亿 美元。假设到年底央行持有的黄金储备规模不变，以年底价格计算，美国海外全球官方黄金储备价值为 3.93万亿美元，已经超越了海外官方持有的美债规模。 转自：智通财经 【黄金有望超越美债 成为美国海外政府持有的最大储备资产】智通财经1月7日电，据报道，受过去一 年金价暴涨和各国央行积极购入的推动，黄金有望超越美国国债，成为美国海外政府持有的最大储备资 产。根据世界黄金协会本月公布的数据，美国海外全球官方黄金储备总量超过9亿金衡盎司（大部分国 家的数据统计截至11月厎，少部分国家的数据统计截至10月厎）。按11月30日的金价计算，这 ...

钛媒体App 1月7日消息，据报道，受过去一年金价暴涨和各国央行积极购入的推动，黄金有望超越美国 国债，成为美国海外政府持有的最大储备资产。根据世界黄金协会本月公布的数据，美国海外全球官方 黄金储备总量超过9亿金衡盎司（大部分国家的数据统计截至11月厎，少部分国家的数据统计截至10月 厎）。按11月30日的金价计算，这相当于3.82万亿美元的黄金。相比之下，截至10月份，美国海外政府 持有的长期和短期美债价值接近3.88万亿美元。假设到年底央行持有的黄金储备规模不变，以年底价格 计算，美国海外全球官方黄金储备价值为3.93万亿美元，已经超越了海外官方持有的美债规模。（广角 观察） ...

Core Insights - Central banks continue to buy gold despite record high prices, indicating a strategic shift in their perception of gold as a key reserve asset [1][3] - The global central bank gold purchases reflect concerns over geopolitical uncertainties and the reliability of fiat currencies like the US dollar [1][3] - The US remains the country with the largest gold reserves, with approximately 8,133 tons stored in various locations [2] Group 1: Central Bank Behavior - Central banks added 19 tons of gold reserves in August, following a decrease in July, showing ongoing interest in gold despite high prices [1] - The World Gold Council noted that the record gold prices may limit the pace of central bank purchases, but this does not indicate a waning interest in gold overall [1] - Countries like Kazakhstan, Bulgaria, and El Salvador have recently joined the ranks of gold buyers, with Poland being the largest buyer this year [3] Group 2: Strategic Reasons for Gold Accumulation - Central banks are increasing gold reserves to diversify assets and mitigate risks associated with the US dollar, particularly due to concerns over the US fiscal situation [3] - Nations such as Russia are converting part of their reserves into "sanction-resistant assets," while others are exploring alternatives to reduce reliance on the dollar [3] - The trend of increasing gold reserves is expected to continue, positioning central banks as significant players in the gold market for the foreseeable future [3]

Core Viewpoint - The cryptocurrency market experienced a significant crash on October 11, with Bitcoin dropping over 13% within 24 hours, reaching a low of approximately $105,900, despite Deutsche Bank's optimistic report predicting Bitcoin could become a key reserve asset by 2030 alongside gold [1][12]. Market Reaction - Bitcoin's price fell sharply from a high of $126,250 earlier in the week, marking a 20% retracement and the largest sell-off since April [1][3]. - Ethereum and other major cryptocurrencies faced even steeper declines, with Ethereum dropping over 20% to around $3,380, and smaller altcoins experiencing drastic price drops, some nearing zero [3][4]. - The crash led to over 1.66 million investors being liquidated, with a total liquidation amount reaching approximately $19.36 billion, marking the largest single-day deleveraging in cryptocurrency history [4]. Causes of the Crash - Analysts had warned of increasing leverage and crowded bullish positions, indicating growing short-term vulnerability in the market [4]. - Speculative capital, driven by high leverage through contract trading and liquidity mining, flooded into the market, making it susceptible to rapid sell-offs when negative news emerged [3][4]. - The crash was exacerbated by algorithmic trading and trading bots, which intensified the market chaos [4]. Impact on Stablecoins - The crash also affected decentralized finance (DeFi), particularly the synthetic stablecoin USDe, which saw its price drop to as low as $0.62, a 38% de-pegging from the dollar [5]. - The de-pegging was attributed to panic selling, insufficient liquidity, and the collapse of leveraged positions that relied on USDe for borrowing [5][6]. Historical Context - The recent crash has drawn comparisons to previous significant downturns in the cryptocurrency market, highlighting a consistent pattern of high leverage leading to rapid liquidations and market panic [7][10]. - Historical events such as the "312" crash in March 2020 and the "222" crash in February 2021 illustrate similar market reactions to external shocks, emphasizing the fragility of the cryptocurrency market [9][10]. Future Outlook - Despite the recent downturn, there are indications of a potential recovery, with Bitcoin's price rebounding to around $112,000, and increased bullish bets in the options market [11]. - However, the recent events have raised questions about Bitcoin's status as a safe-haven asset, as its price movements have shown a strong correlation with risk assets like U.S. tech stocks [11][15]. - Experts suggest that Bitcoin's volatility and structural weaknesses hinder its potential to become a reserve asset, with concerns about liquidity and security risks remaining prevalent [12][14].

Group 1 - Gold has performed exceptionally well this year, rising 44% to a record $3,784 per ounce, while other precious metals like silver, platinum, and palladium have also seen significant increases of 53%, 60%, and 33% respectively [1] - Bitcoin, often referred to as "digital gold," has only increased by over 20% this year, reaching $113,000, indicating a lag behind precious metals [1][3] - Central banks have been diversifying their strategies by increasing gold reserves, with a total global gold reserve of approximately 36,000 tons, as reported by the European Central Bank [1][2] Group 2 - Over the past three years, global central banks have added more than 1,000 tons of gold annually, more than double the average of the previous decade [2] - Bitcoin has not yet entered central bank balance sheets, limiting its role as a reserve asset, and ongoing sell-offs from early wallets have suppressed its price increase [3] - Deutsche Bank predicts that by 2030, both gold and Bitcoin may appear on central bank balance sheets simultaneously [4]

Group 1 - The core viewpoint of the article is that Canaan Inc. has designated Bitcoin as its primary long-term reserve asset [1] Group 2 - Canaan Inc. is focusing on Bitcoin as a strategic asset, indicating a shift in its investment strategy [1] - This decision reflects a broader trend in the industry where companies are increasingly adopting cryptocurrencies as part of their asset management [1]