各位朋友，我是帮主郑重，一个做了二十年财经记者、现在专注中长线投资的老兵。不知道大家最近加 油的时候，有没有感觉油箱又沉了一点？或者看新闻时，总觉得"大宗商品"这几个字蹦出来得特别频 繁？没错，市场最近确实挺热闹——原油、铜、黄金，这几个老伙计，正不约而同地往上走。 再看铜，还有铝、镍这些工业金属，涨势更猛，伦敦市场的好多品种已经连涨四周。铜价一度逼近每吨 一万三美元。核心逻辑有两个字："担忧"。担忧供应紧，更担忧美国可能加征关税，导致大家赶在政策 前拼命往美国运货，造成了短期的人为紧张和"稀缺溢价"。高盛的分析师很直接，说这个价格水平很难 持续。这给我们提了个醒：由单一政策预期和囤货行为驱动的上涨，一旦预期落地或改变，价格逻辑就 可能瞬间反转。工业金属是经济的晴雨表，它的长期趋势一定得看全球实实在在的需求，尤其是制造业 和能源转型的进度，而不是短期的贸易流动。 最后是黄金，也在悄咪咪地涨。它逻辑又不一样，更偏向于"防"和"等"。美国经济数据好坏参半，市场 普遍觉得美联储一月份不敢乱动，继续按兵不动。这种降息预期摇摆、宏观不确定性还在的时期，黄金 的避险和抗通胀属性，自然会吸引一些目光。它不像原油那样受制于复 ...

Core Viewpoint - The international gold market has experienced a downward trend, with spot gold prices dropping below $3180 per ounce, marking a new low since April 15 [1][3]. Price Movements - On May 14, spot gold prices fell to $3176.547, down $73.553 or 2.26% from the previous close of $3250.100 [2]. - The highest price recorded on May 14 was $3257.080, while the lowest was $3175.135 [2]. Domestic Gold Prices - As of May 14, several domestic gold retailers have adjusted their prices for gold jewelry, with prices falling below 1000 yuan per gram. For instance, Chow Sang Sang's gold jewelry was priced at 992 yuan per gram, up 1 yuan from the previous day, while Lao Feng Xiang's price dropped by 5 yuan to 990 yuan per gram [3]. - Compared to May 11, Chow Sang Sang's price has decreased by 29 yuan per gram, and Chow Tai Fook's price has dropped by 30 yuan per gram [3]. Market Outlook - According to Wang Youxin from the Bank of China Research Institute, short-term gold prices may continue to fluctuate due to high market risk appetite and ongoing adjustments in trade conditions. However, there may be resistance and support levels that could lead to price volatility [4]. - In the medium to long term, there is potential for gold prices to rebound as the safe-haven and anti-inflation attributes of gold become more prominent, especially as major central banks remain in a loose monetary policy cycle [4].