这金价，简直跟坐过山车似的，没点心理准备根本扛不住。2025年开年，黄金从高点一路下滑，吓得不 少人直冒冷汗。 回想2008年，那次次贷危机刚爆发时，大家以为黄金会飞天，结果却跌了三成。市场缺钱，谁还管金条 值不值钱？都得急着变现，现金才是王道。 到了2020年，疫情爆发，全球经济陷入恐慌，美联储开足马力印钞票。金价初期应声上涨，投资者纷纷 涌入避险资产。 可没过几个月，金价又急转直下，跌了近两成。美联储虽然继续放水，但印钞速度放缓，美元逐渐走 强，黄金的吸引力开始减弱。 这告诉我们，黄金涨跌背后，资金流动速度和市场预期才是关键。不能只盯着表面繁荣，得看钱从哪里 来，去哪儿。 2022年春，美国加息加表，财政收紧，美元强势回归。黄金价格从2070跌到1620，伤了不少"稳赚不 赔"的人心。 美元的强弱，成了黄金价格的"晴雨表"，看它一脸笑容，黄金就得忍着跌。美元有力，黄金自然失去光 彩，这关系，清清楚楚摆在眼前。 这几次大跌，像极了三驾马车在拉扯：美元的强弱，美国财政的健康，还有全球资金的紧张与宽松。缺 一不可，缺了谁都难以为继。 时至2013年，奥巴马政府开始收紧财政，美联储停了量化宽松。美元强了，黄金直接 ...

Group 1 - The core viewpoint of S&P Global Ratings is that the tariffs imposed by President Trump may help maintain U.S. fiscal health despite criticisms from mainstream economists [1] - S&P confirmed the U.S. long-term credit rating at AA+ and short-term rating at A-1+, with a stable outlook, partly due to expected tariff revenues offsetting the impact of recent tax and spending legislation [1][2] - The report indicates that significant tariff revenues are anticipated to counterbalance potential fiscal weaknesses arising from recent legislation, with July tariff revenues reaching a record high of $28 billion [2] Group 2 - There is ongoing debate among economists regarding the sustainability of tariff revenues, as Trump's policies aim to bring production back to the U.S., which could reduce future tariff income [2] - The Congressional Budget Office (CBO) estimates that recent budget legislation will increase the deficit by $3.4 trillion over the next decade, despite rising tariff revenues [2] - S&P's stable outlook suggests that while U.S. fiscal deficits may not significantly improve, they also will not worsen substantially in the coming years, with projected government net debt exceeding GDP by over 100% [3]