美国国债收益率下跌，延续了自美国总统特朗普排除为收购格陵兰采取军事行动、并收回就此问题对欧 洲国家加征关税的威胁以来的趋势。本周早些时候曾冲击全球债券市场的日本国债急剧抛售行情也已平 息。SEB分析师预计，美国国债收益率现在将"回吐近期大部分涨幅"。这些分析师称，不过，美欧之间 紧张关系再现的风险依然存在，同时还存在对美联储独立性的担忧。Tradeweb数据显示，10年期美国国 债收益率下跌1.2个基点，至4.239%，从周二触及的五个月高点4.313%回落。 来源：滚动播报 ...

来源：中国证券报 近日，首饰黄金每克报价突破1500元引发热议。1月22日，中国证券报记者走访北京地区多家品牌金店 看到，多数黄金珠宝品牌饰品金金价已在1500元/克左右。 记者走访了解到，随着金价迭创新高，首饰店30克以上的大件产品销售出现一定程度的滞销。但随着春 节临近，各大品牌金店推出的微克重黄金产品受到青睐。0.01克的手机挂饰、0.1克的箱包挂件、1克的 马年金钞等，成为各大金店销售的"顶流"。 微克重产品成销售"顶流" 从热销的黄金手机挂饰、箱包挂件外形看，多数产品使用了皮革、塑料等作为饰品辅料，产品本身软萌 可爱，"吉祥物"形象突出；黄金部分则通常被压成薄片，镶嵌在最显眼的位置。 "黄金手机挂件从上新以来就卖得很好，目前有118元和168元两种款式。118元产品寓意'招财进宝'， 168元产品寓意'马上发财'。其中，118元用金为0.01克。工艺精美、价格不贵且寓意好，这类手机挂件 销量非常可观。"北京一家国有金店销售人员告诉记者。 金店销售的微克重黄金手机挂件，本报记者董添/摄 除手机挂件外，部分金店还推出了箱包挂件。 "这个挂件可以挂在包上，卡通形象做成黄色，本身就寓意'招财'，价格不到40 ...

近日，首饰黄金每克报价突破1500元引发热议。1月22日，中国证券报记者走访北京地区多家品牌金店看到，多数黄金珠宝品牌饰品金金价已在1500元/克 左右。 微克重产品成销售"顶流" 从热销的黄金手机挂饰、箱包挂件外形看，多数产品使用了皮革、塑料等作为饰品辅料，产品本身软萌可爱，"吉祥物"形象突出；黄金部分则通常被压成 薄片，镶嵌在最显眼的位置。 "黄金手机挂件从上新以来就卖得很好，目前有118元和168元两种款式。118元产品寓意'招财进宝'，168元产品寓意'马上发财'。其中，118元用金为0.01 克。工艺精美、价格不贵且寓意好，这类手机挂件销量非常可观。"北京一家国有金店销售人员告诉记者。 金店销售的微克重黄金手机挂件 本报记者 董添/摄 除手机挂件外，部分金店还推出了箱包挂件。 "这个挂件可以挂在包上，卡通形象做成黄色，本身就寓意'招财'，价格不到400元，含有0.1克黄金，最近销量很好。目前手机挂件已经脱销了，也可以用 3D硬金工艺编一个。"走访过程中，有金店销售人员告诉记者。 金店销售的微克重黄金箱包挂件 本报记者 董添/摄 值得一提的是，随着春节临近，生肖金钞也成为近期热销产品。 "金钞是标准规 ...

近日，首饰黄金每克报价突破1500元引发热议。1月22日，中国证券报记者走访北京地区多家品牌金店 看到，多数黄金珠宝品牌饰品金金价已在1500元/克左右。 记者走访了解到，随着金价迭创新高，首饰店30克以上的大件产品销售出现一定程度的滞销。但随着春 节临近，各大品牌金店推出的微克重黄金产品受到青睐。0.01克的手机挂饰、0.1克的箱包挂件、1克的 马年金钞等，成为各大金店销售的"顶流"。 微克重产品成销售"顶流" 从热销的黄金手机挂饰、箱包挂件外形看，多数产品使用了皮革、塑料等作为饰品辅料，产品本身软萌 可爱，"吉祥物"形象突出；黄金部分则通常被压成薄片，镶嵌在最显眼的位置。 "这个挂件可以挂在包上，卡通形象做成黄色，本身就寓意'招财'，价格不到400元，含有0.1克黄金，最 近销量很好。目前手机挂件已经脱销了，也可以用3D硬金工艺编一个。"走访过程中，有金店销售人员 告诉记者。 金店销售的微克重黄金箱包挂件 本报记者 董添/摄 值得一提的是，随着春节临近，生肖金钞也成为近期热销产品。 "黄金手机挂件从上新以来就卖得很好，目前有118元和168元两种款式。118元产品寓意'招财进宝'， 168元产品寓意'马上 ...

记者走访了解到，随着金价迭创新高，首饰店30克以上的大件产品销售出现一定程度的滞销。但随着春节临近，各 大品牌金店推出的微克重黄金产品受到青睐。0.01克的手机挂饰、0.1克的箱包挂件、1克的马年金钞等，成为各大金 店销售的"顶流"。 近日，首饰黄金每克报价突破1500元引发热议。1月22日，中国证券报记者走访北京地区多家品牌金店看到，多数黄 金珠宝品牌饰品金金价已在1500元/克左右。 从热销的黄金手机挂饰、箱包挂件外形看，多数产品使用了皮革、塑料等作为饰品辅料，产品本身软萌可爱，"吉祥 物"形象突出；黄金部分则通常被压成薄片，镶嵌在最显眼的位置。 "黄金手机挂件从上新以来就卖得很好，目前有118元和168元两种款式。118元产品寓意'招财进宝'，168元产品寓 意'马上发财'。其中，118元用金为0.01克。工艺精美、价格不贵且寓意好，这类手机挂件销量非常可观。"北京一家 国有金店销售人员告诉记者。 除手机挂件外，部分金店还推出了箱包挂件。 "这个挂件可以挂在包上，卡通形象做成黄色，本身就寓意'招财'，价格不到400元，含有0.1克黄金，最近销量很 好。目前手机挂件已经脱销了，也可以用3D硬金工艺编一个。 ...

1月20日，上海期货交易所调整铜等期货相关合约交易保证金比例和涨跌停板幅度，上海国际能源交易中心调整国 际铜期货相关合约交易保证金比例和涨跌停板幅度。 值得一提的是，现货黄金和现货白银今日再创新高。Wind数据显示，现货黄金一度突破4730美元/盎司，现货白银 突破95美元/盎司。截至北京时间19:09，现货黄金报4724.542美元/盎司，现货白银报95.249美元/盎司。 调整铜等期货相关合约交易 保证金比例和涨跌停板幅度 具体来看，自2026年1月22日（星期四）收盘结算时起，铜期货已上市合约的涨跌停板幅度调整为8%，套保持仓 交易保证金比例调整为9%，一般持仓交易保证金比例调整为10%。 近期，黄金、白银涨势持续。Wind数据显示，北京时间1月20日，现货黄金和现货白银继续刷新纪录，现货黄金 一度突破4730美元/盎司，现货白银突破95美元/盎司。截至19:09，现货黄金报4724.542美元/盎司，现货白银报 95.249美元/盎司。 图片来源：Wind 国泰海通表示，全球地缘政治局势的不确定性上升以及各国央行持续购金，有利于支撑长期金价中枢。虽然投机 性交易资金的流入阶段性抬升了黄金波动中枢，但黄 ...

Core Viewpoint - The market experienced a decline with all three major indices falling, while precious metals, particularly gold and silver, saw significant price increases driven by geopolitical risks and monetary easing expectations [1] Market Performance - As of the midday close on January 15, the three major indices collectively dropped, with the ChiNext Index falling over 1% and the Shanghai Composite Index dipping below 4100 points [1] - Precious metals, including gold and silver, performed well, with Sichuan Gold hitting the daily limit and Hunan Silver and Xiaocheng Technology rising over 5% [1] Precious Metals Analysis - The recent rise in gold prices is attributed to a combination of short-term geopolitical risks, concerns over the independence of the Federal Reserve, and long-term structural factors [1] - Silver prices have surged approximately 15% this week, while gold prices have only increased about 2%, leading to a significant decline in the gold-silver ratio, which is currently around 50, the lowest in 14 years [1] - This low gold-silver ratio is expected to attract arbitrage funds into gold [1] - The sentiment in the precious metals market, especially for silver, is currently high, and the 4600 USD level is noted as a key point for market dynamics [1]

Group 1 - The core viewpoint of the article highlights a collective decline in major stock indices, with the ChiNext index dropping over 1% and the Shanghai Composite Index falling below 4100 points during the trading session [2] - Precious metals, particularly gold and silver, have seen a significant increase in prices due to factors such as geopolitical risks and expectations of monetary easing [2] - The recent surge in silver prices, which rose approximately 15% this week, has contributed to the upward movement of gold prices, which increased by about 2% [2] Group 2 - The gold-silver ratio has notably decreased to around 50, marking a 14-year low, which is expected to attract arbitrage funds into gold [2] - Market sentiment for precious metals, especially silver, is currently high, indicating a potential for further price movements [2] - The focus is on the 4600 USD level for silver, where a battle between bulls and bears is anticipated [2]

Group 1: Investment Ratings - No report industry investment rating is provided in the content Group 2: Core Views - Gold is expected to show a long - term strong upward trend, with short - term shocks, medium - term strength, and intraday shocks tending to be strong. The reasons are the cooling macro - atmosphere, increased short - term hedging demand, and the resonance of short - term geopolitical risks, concerns about the Fed's independence, and long - term structural factors. The sharp rise in silver also drives gold up, and the decline in the gold - silver ratio will prompt arbitrage funds to flow into gold [1][3] - Copper is expected to have a long - term strong trend, with short - term shocks, medium - term strength, and intraday shocks tending to be weak. The cooling macro - atmosphere, increased willingness of short - term bulls to close positions, weakened short - term capital promotion willingness, and the resistance of the short - term spot market to high copper prices are the main reasons [1][4] Group 3: Summary by Variety Gold - Short - term: Shock [1] - Medium - term: Strong [1] - Intraday: Shock tending to be strong [1] - Reference view: Long - term strong upward [1] - Core logic: The rise in gold prices is due to the resonance of short - term geopolitical risks, concerns about the Fed's independence, and long - term structural factors. The sharp rise in silver drives gold, and the decline in the gold - silver ratio to around 50 (a 14 - year low) will attract arbitrage funds. Pay attention to the long - short game at the $4600 mark [3] Copper - Short - term: Shock [1] - Medium - term: Strong [1] - Intraday: Shock tending to be weak [1] - Reference view: Long - term strong [1] - Core logic: Copper prices showed a small upward and then downward trend last night, oscillating below 104,000. The increase of copper prices has slowed down this week, and short - term capital promotion willingness is insufficient. The obvious weakening of the 01 contract discount reflects the resistance of the short - term spot market to high copper prices. Pay attention to the technical pressure at the previous high [4]

Core Viewpoint - Silver prices are experiencing a significant surge, with the potential to reach $100 per ounce, driven by various factors including inflation, a weakening dollar, and increased demand from central banks and investors seeking safe-haven assets [1][4]. Group 1: Market Dynamics - Silver futures prices have risen sharply, breaking through multiple key levels, with a cumulative increase of over 200% since the beginning of the current bull market in 2025 [1]. - The market capitalization of silver has surpassed $5 trillion, making it the second most valuable asset globally, only behind gold [4]. - The demand for silver is structurally increasing due to its industrial applications, particularly in electric vehicles and solar panels, which are expected to drive further price appreciation [5]. Group 2: Economic Influences - Historical context suggests that reaching $100 per ounce is feasible, especially when considering inflation-adjusted values from past peaks [6]. - The supply-demand balance is critical, with rising physical demand from central banks and declining available supply potentially accelerating price increases [6]. - Geopolitical uncertainties and concerns regarding the Federal Reserve's independence may create conditions conducive to higher silver prices [4]. Group 3: Market Signals - The gold-silver ratio has dropped below 50 for the first time since March 2012, indicating that silver's price increase is outpacing that of gold [8]. - A low gold-silver ratio may suggest that silver is overvalued, as historical averages indicate fluctuations based on macroeconomic cycles [8]. - Market participants are advised to consider their exposure to monetary assets rather than fixating solely on the allocation between gold and silver [9].