2025年黄金市场堪称史诗级狂欢，全年涨幅超70%，创1979年以来最佳年度表现！现货黄金从年初2600 多美元一路飙升，圣诞前突破4500大关后，却在年末上演"高台跳水"——周一(12月29日)美盘暴跌近 200美元，一度下探4300附近。当前(12月31日)，金价在亚欧盘窄幅整理，反弹至4360-4370美元附近震 荡。Rania Gule指出，金、银价格的显著攀升，是经济、投资与地缘因素共同作用的结果，其中关键驱 动力在于市场预期美联储将在2026年再次降息。世界黄金协会数据也显示，今年各国央行合计增持数百 吨黄金，为金价提供有力支撑。 摘要今日周三(12月31日)亚市盘中，黄金小幅走高，在年末回落后趋于稳定，但今年仍有望录得自1979 年以来的最佳年度表现，黄金今年累计上涨超过65%。分析师预计，在各国央行持续高位买入、对主权 债务的担忧以及美联储进入降息周期的背景下，金价仍有进一步上行空间。 今日周三(12月31日)亚市盘中，黄金小幅走高，在年末回落后趋于稳定，但今年仍有望录得自1979年以 来的最佳年度表现，黄金今年累计上涨超过65%。分析师预计，在各国央行持续高位买入、对主权债务 的担忧以及美联 ...

延续近一个月以来的强势表现，12月23日，金、银、铂、钯等贵金属品种再度全线大涨，国际金 价、银价更是再度创下历史新高。 截至《金融时报》记者发稿，现货黄金、白银距离4500美元/盎司、70美元/盎司仅一步之遥。按现 货价格计算，黄金、白银、铂金、钯金价格年内涨幅已分别超过71%、142%、142%、102%。 券商普遍认为，当前，贵金属市场的强势表现由宏观与基本面因素共同支撑，如全球货币体系演 变、宏观环境宽松、避险需求高涨以及关键工业领域增长等。 现货黄金价格逼近4500美元/盎司 具体来看，12月22日，国际现货黄金、COMEX黄金价格分别首次突破4400美元/盎司、4440美元/ 盎司关口，12月23日延续上涨，继续刷新历史高位。截至《金融时报》记者发稿，现货、期货黄金盘中 最高分别触及4497.754美元/盎司、4530.8美元/盎司。 与此同时，白银价格在上周站上67美元/盎司后，继续保持破纪录态势，现货、期货白银双双突破 69美元/盎司。截至发稿，国际现货白银、COMEX白银最高分别报69.997美元/盎司、70.155美元/盎司。 铂金、钯金价格也延续猛烈涨势，现货铂金触及2190.70美元/ ...

贵金属价格走强，有几方面原因。 一方面，货币政策预期强化。美国11月失业率攀升至4.6%，高于市场预期，引发投资者对美联储2026年降息路径的重新定 价。实际利率下行预期持续支撑金价。 另一方面，美元指数走弱，削弱美元计价资产的持有成本，提升黄金对海外买家的吸引力。 此外，避险与配置需求升温。 12月22日早盘，贵金属品种集体大涨。 截至发稿，伦敦金现走势强劲，日内涨幅超过1%，报4386.48 美元/盎司， 再创历史新高。现货白银涨破68美元/盎司关 口，刷新历史高点，日内涨2.75%，年内累涨约1.38倍。广期所铂期货全部合约触及涨停。 | 国际贵金属 | | | | | | --- | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | 伦敦金现 | 4386.489 | 48.129 | 1.11% | 67.16% | | 伦敦银现 | 68.892 | 1.843 | 2.75% | 138.49% | | COMEX電金 | 4418.6 | 31.3 | 0.71% | 67.42% | | COMEX白银 | 69.160 | 1. ...

Group 1: International Precious Metals Market - The international gold market experienced significant volatility, with gold prices closing at $3397.13 per ounce, a slight increase of $1.50 (0.04%) from the previous day, driven by expectations of potential interest rate cuts by the Federal Reserve and global economic uncertainties [1] - International silver prices also saw a modest rise to $38.30 per ounce, up $0.06 (0.16%), reflecting an overall increase in market risk appetite [1] - In contrast, the international platinum and palladium markets showed a notable downward trend, with platinum prices falling by $13.52 (1.00%) to $1340.68 per ounce, and palladium prices plummeting by $34.30 (2.93%) to $1136.80 per ounce, indicating skepticism about the investment value of these metals [2] Group 2: Domestic Gold Market - The domestic gold market in China mirrored the international price increase, with domestic gold prices at 783.5 yuan per gram, while brand premiums and market segmentation led to significant price variations among different brands [3] - Major jewelry brands such as Chow Tai Fook and Luk Fook priced their gold at 1020 yuan per gram, significantly higher than the basic gold price, highlighting the impact of brand influence and product value [3] - Price discrepancies were also observed in gold bars sold by banks and jewelry stores, with prices ranging from 798.94 yuan per gram for ICBC's gold bars to 899 yuan per gram for Chow Tai Fook's investment gold bars [3] Group 3: Underlying Factors for Gold Price Surge - The recent rise in gold prices is attributed to multiple macroeconomic factors and geopolitical risks, including expectations of interest rate cuts by the Federal Reserve in response to slowing economic growth and inflationary pressures [5][6] - Heightened geopolitical risks and increased global economic uncertainty have led investors to view gold as a safe-haven asset, thereby boosting demand [6] - Central banks worldwide have shifted from being net sellers to net buyers of gold since 2009, altering the supply-demand dynamics in the international gold market and supporting price increases [6] Group 4: Conclusion - The price fluctuations in the gold market on August 10, 2025, reflect a complex interplay of macroeconomic conditions and market sentiment, driven by heightened risk aversion, potential monetary policy adjustments by the Federal Reserve, and geopolitical uncertainties [8] - The variations in prices among different market participants, brands, and product types serve as a reminder for investors to conduct careful analysis and make rational investment decisions [8]

Group 1 - The core viewpoint of the articles indicates that the international gold price is under pressure due to reduced market risk aversion following a ceasefire agreement between Israel and Iran, with gold prices falling approximately 1.5% this week [1] - The easing of geopolitical risks has boosted market risk appetite, which continued into the trading session on Friday, supported by positive news regarding U.S.-China trade framework discussions [1] - Despite the recent decline, gold prices have increased over 25% this year, remaining close to historical highs, with geopolitical and trade uncertainties providing significant support [1] Group 2 - Global central banks are continuously increasing their gold reserves, and expectations of the Federal Reserve potentially restarting loose monetary policy are important factors supporting gold prices [2] - As a non-yielding asset, gold holds greater allocation value in a low-interest-rate environment, with current spot gold prices around $3,330 per ounce, down approximately 0.5% on the day [2] - Palladium has shown strong performance this week with a cumulative increase of about 10%, while platinum prices have continued to rise after reaching a multi-year high [2]