今日周三(2月25日)亚盘时段，周二贵金属价格回落调整，受节中地缘避险与美国贸易不确定性担忧缓 和引发贵金属获利盘回吐影响。COMEX白银2603合约收报于87.07美元/盎司，涨幅0.57%。 【最新白银期货行情解析】 3月白银期货多头的下一短期上行目标为，推动合约收盘价突破90.00美元这一关键技术阻力位;空头的 下一短期下行目标则是将收盘价打压至2月低点71.815美元这一重要支撑位下方。白银期货第一阻力位 见于今日高点88.75美元，进一步阻力位为90.00美元;下方第一支撑位为本周低点84.56美元，进一步支 撑位为83.00美元。 昨天全球最大白银ETF--iShares Silver Trust(SLV)白银持仓增加277.54吨至16107.92吨。 前贵金属市场交易集中在美联储货币政策预期、地缘局势避险与贸易政策不确定三个维度上。短期需关 注15%临时关税若正式实施后，贸易伙伴反制措施，以及美国政府与法律就贸易关税博弈下的后续变 化。另外，3月19日美联储FOMC会议点阵图及经济预测则将是验证降息路径的关键，期间则需关注3月 初美非农就业报告、3月中旬美CPI数据。 打开APP，查看更多高清 ...

所以，整体来说，金价又再度回到，地缘局势避险推动，关税政策担忧，以及降息政策前景等利好环境 中，那么年内金价将继续维持牛市行情，等待不断刷新高点。 展望今日周二(2月24日)：国际黄金开盘仍偏强运行，虽然在地缘局势方面，特朗普释放美伊局势缓和 信号：更倾向协议而非战争。但美媒表示美军将领警告对伊朗动武风险极高，易陷长期冲突，这进一步 加剧了地缘局势的长期影响因素，也暗示地缘风险的缓解难以对金价产生趋势性压力。 另外，美媒还表示特朗普政府考虑对六大行业征收新的国家安全关税，特朗普也言论任何想"耍花招"的 国家将面临更高的关税。新一轮政策不确定性也将加剧市场避险情绪，推动资金涌入黄金； 货币政策方面，近期的公布的美国经济等数据也未实质性对降息预期产生明显影响，其美联储前理事沃 什即将于5月接替鲍威尔出任主席，而特朗普政府明显偏好低利率政策，这为中长期降息留下了想象空 间。 日内将可关注美国12月FHFA房价指数月率、美国12月S&P/CS20座大城市未季调房价指数年率、美国12 月批发销售月率、美国2月谘商会消费者信心指数、美国2月里奇蒙德联储制造业指数等数据； 另外，还有美联储理事沃勒发表讲话，根据之前讲话偏向 ...

Core Viewpoint - The market opened positively on February 23, with a significant upward movement following a strong close the previous week, indicating bullish sentiment and potential for further gains in gold and silver prices [2][3]. Market Performance - The market opened at approximately 5106, reaching a high of 5171 during the session, reflecting a strong bullish trend [2]. - The previous week's closing at 5103 set the stage for a likely high opening and upward momentum, with expectations of a continued bullish run [2]. Technical Analysis - The weekly chart showed a long lower shadow hammer candlestick pattern, suggesting ongoing bullish demand for the market [2]. - The daily chart indicated three consecutive upward movements, reinforcing the overall upward structure [2]. Geopolitical Factors - The market is influenced by geopolitical tensions and concerns over tariff policies, leading to increased investment in safe-haven assets like gold [2][3]. - Attention is focused on the U.S.-Iran situation and U.S. tariff news, which could further impact market dynamics [3]. Price Levels and Support - Gold prices have successfully broken above $5000 and established a key support level at $5100, which is critical for maintaining upward momentum [3]. - Any price retracement that does not breach the $5100 level is viewed as a buying opportunity, while a drop below this level would signal potential weakness [3]. Trading Strategy - The trading strategy suggests monitoring the $5100/5120 area for potential buying opportunities, with a target of reaching $5200 [3].

Group 1 - The A-share market saw all three major indices rise collectively, with the Shanghai Composite Index breaking through 3900 points, marking a new high in over a decade [1] - Gold-related ETFs experienced significant gains, with two ETFs rising over 10% and several others in the non-ferrous sector increasing by over 8% [1][2] - The total trading volume of ETFs reached 581.12 billion yuan on October 9, an increase of nearly 30 billion yuan compared to September 30, with four ETFs surpassing 20 billion yuan in trading volume [2][3] Group 2 - The international gold price reached new highs during the National Day holiday, with COMEX gold futures closing at 4007.9 USD per ounce on October 8 [1] - China's gold reserves increased to 74.06 million ounces (approximately 2303.523 tons) by the end of September, marking the 11th consecutive month of gold accumulation [1][3] - The performance of gold-related ETFs has been strong this year, with one ETF increasing by 103.43% year-to-date and its scale growing from 322 million yuan at the end of last year to 2.409 billion yuan [2] Group 3 - UBS Wealth Management's CIO office indicated that the potential for further easing by the Federal Reserve and high inflation could lead to a decline in U.S. real interest rates, providing structural support for gold [2] - Analysts believe that gold is evolving from a traditional safe-haven asset to a core component of global reserve structure rebalancing, with its pricing logic undergoing fundamental changes [4] - The outlook for gold remains optimistic among several investment banks, with expectations of continued market upward movement driven by factors such as Fed rate cuts and emerging sector growth [4]