【 摘要 】浙商证券廖静池称，展望后市，科技成长板块在经历三周的强势期之后，"跟随"权重 指数节奏进入高位震荡整理。招商银行陈峤认为，短期黄金回调动能仍在累积，中长期看，黄金 基本面逻辑稳固，牛市趋势未改。 一、焦点锐评 1．黄金、白银史诗级暴跌 1月30日，在亚市早盘传出特朗普将提名凯文·沃什任美联储主席的消息后贵金属即转跌，现货白 银价格一度暴跌36%，创出历史最大日内跌幅；现货黄金价格一度下跌超过12%，盘中跌穿每盎 司4700美元，遭遇40年来单日最大跌幅。沃什在美联储任职期间一贯对通胀保持警惕，经常支持 更高利率。但去年他转而呼应特朗普观点。 【解读】招商银行陈峤分析称，短期看，在本月极端单边行情落地后，市场回调动能仍在累积， 后续调整走势或进一步延续，建议交易型投资者保持警惕，防范市场波动风险。中长期看，黄金 基本面逻辑稳固，牛市趋势未改。当下市场更多聚焦于美元信用重塑与全球秩序重构，与1970- 1974年布雷顿森林体系瓦解时的黄金牛市更为类似。 二、权益市场 1.富国基金：从"结构牛"走向"全面牛" A股 | 万得全A | 6783.79 -1.59% | | 5. 78% | 5. 83% ...

Group 1 - The core viewpoint highlights the mixed performance of the Sci-Tech Innovation Board 100 Index, with Jinpan Technology leading the gains at 6.12% and Yuanjie Technology experiencing the largest decline [1] - The active performance of electric grid equipment stocks is noted, with Jinpan Technology reaching a historical high [1] - A significant statement from Microsoft and OpenAI CEOs indicates that the current challenge in the AI industry is not an excess of computing power but rather a lack of sufficient electricity to support all GPU operations [1] Group 2 - Huayuan Securities suggests that AI could significantly boost electricity demand in the U.S., with OpenAI planning to deploy over 250GW of computing centers by 2033, potentially leading to a dramatic increase in electricity demand [2] - GridStrategies predicts that the peak electricity load in the U.S. will reach 947GW by 2029, an increase of 128GW compared to 2024, with AIDC being a major driving factor [2] - The largest U.S. ISO, PJM, has raised its load forecast, predicting a peak load of 184GW by 2030, a 19.3% increase from 2025 [2] - Recommendations include focusing on solid-state transformers (SST) as a key development direction for power supply architecture in computing centers, as well as opportunities in electric grid equipment exports, energy storage, and SOFC [2] - The Sci-Tech 100 ETF closely tracks the Sci-Tech 100 Index, which is the first and only mid-cap style index on the Sci-Tech Innovation Board, focusing on high-growth sectors such as semiconductors, pharmaceuticals, and new energy [2]