国信 期货首席分析师顾冯达表示， 贵金属当前多头力量依然占据市场的主导地位。在美联储持续降 息、美元走弱以及 白银产业需求具备较大政策弹性的背景下，白银中长期"走牛"的逻辑并未改变。然 而，必须清醒地认识到，白银价格短期内快速拉升，已经积累了大量获利盘，市场情绪趋于亢奋，任 何"风吹草动"，如美国经济数据超预期、交易所出台风控措施等，都可能引发市场剧烈波动。因此，对 交易者而言，当前白银市场风险较大，建议密切关注实物交割进展、库存回流及宏观资金动向，防范看 多情绪退潮后的回调风险。 ...

Group 1 - The core viewpoint indicates that the bearish forces in the gold market are currently stronger than the bullish forces, with the price of spot gold experiencing resistance near the $3,300 mark and retreating to around $3,280 [1] - The strongest resistance level is identified at $3,329.24, suggesting that before reaching this level, the price will encounter significant resistance [1] - The strongest support level is noted at $3,249.1, which aligns with the low point established earlier today, indicating a critical area to monitor for potential price action [1]