2026年2月5日至6日，国际贵金属市场再度上演惊魂一幕。 现货白银价格在亚洲交易时段一度暴跌18%，跌破73 美元/盎司，最低触及72.453美元。 这已经是白银在短短五个交易日内第二次出现历史级暴跌，较1月29日创下的 历史高点回落超过40%。 中国投机资金与高杠杆交易成波动放大器 Metals Daily首席执行官Ross Norman直指："尤其是来自中国的投机活动正在破坏金银的价格发现机制。 "近一个 月来，从个人投资者到将触角伸向大宗商品的大型股票基金，中国投机买盘推动包括铜、白银在内的多种金属价 格不断刷新纪录。 中国市场唯一专注白银的基金因出现巨额溢价，甚至促使发行方几乎每天发布风险提示并暂停 申购。 交易所紧急出手，保证金上调引爆杠杆踩踏 在暴跌过程中，芝加哥商品交易所（CME）将其COMEX 5000白银期货的初始保证金比例从15%上调至18%，新 标准于2月6日收盘后生效。 上海期货交易所也自2月4日起将白银期货已上市合约的涨跌停板幅度调整为19%，一 般持仓交易保证金比例调整为21%。 保证金上调增加了高杠杆交易者的资金压力，价格下跌触发止损盘后，形 成"抛售—下跌—再抛售"的连锁反应 ...

Group 1 - Recent fluctuations in gold prices have led to significant market volatility, with rapid increases and decreases observed [1][2] - The situation has escalated into a series of financial crises, with multiple platforms facing liquidity issues [2][3] - A specific platform, YunDianTang, has been reported to have abnormal payment issues, following the collapse of another platform [3][4] Group 2 - Users of YunDianTang have experienced difficulties in retrieving their funds, with reports of accounts being locked and customer service providing inadequate responses [9][10] - The platform's business model involves enticing users with higher-than-market buyback prices, which serves as a lure for investors [11][12] - As panic set in when the platform became inaccessible, users began to realize the severity of the situation, leading to a rush to withdraw funds [13][14] Group 3 - The payout ratio for YunDianTang has been declining rapidly, with only 60% of funds being returned on January 29, dropping to 40% shortly thereafter [16] - The platform offered three payout options, which effectively pressured users into accepting losses rather than risking total loss [18] - Many users were unaware that they were engaging in high-leverage trading, which significantly increased their risk exposure [19][20] Group 4 - The article highlights that many individuals affected by these platforms are not greedy speculators but rather people in desperate financial situations [21][22] - The combination of low platform credibility, high promises of returns, and the allure of quick profits has led to increased risks for ordinary investors [23][24] - The conclusion emphasizes that ordinary individuals should avoid speculative trading in gold due to the inherent risks involved [25][26][27][28]

Group 1: Gold Market Dynamics - On February 4, gold prices surged, with New York gold futures reaching a peak of $5082.2 per ounce, marking a single-day increase of $53.4 [3][4] - The Shanghai gold spot market also reacted, with prices hitting a high of 1096.85 yuan per gram, reflecting a rebound of over $600 from a low of $4400 per ounce just two days prior [3][4] - The increase in gold prices is attributed to heightened "risk aversion" among investors, driven by geopolitical tensions and concerns over U.S. debt, leading to significant inflows into the gold market [5][6] Group 2: Cryptocurrency Market Challenges - On the same day, Bitcoin experienced a significant drop, falling 5.4% to a low of $72047, marking its lowest point since November 2024, with a year-to-date decline exceeding 16% [4][6] - Ethereum also faced a decline of over 5.8%, closing at $20.48, down nearly 60% from its peak last year [4][6] - The cryptocurrency market saw a total liquidation of approximately 18.6 million people, with a total liquidation amount of $8.87 billion (around 64 billion yuan), indicating severe market distress [4][6] Group 3: Investor Sentiment and Behavior - The contrasting performance of gold and cryptocurrencies is largely due to differing investor sentiments, with gold being viewed as a "safe haven" asset, while cryptocurrencies are seen as speculative investments [5][8] - Retail investors in the gold market reported significant profits, with one individual stating they earned over 4000 yuan in just two days from a gold purchase, highlighting the appeal of gold as a stable investment [6][8] - Conversely, many retail investors in the cryptocurrency market faced substantial losses, with reports of individuals losing significant amounts in a short period, reflecting the high volatility and risks associated with crypto trading [7][8]

特朗普宣布提名新任美联储主席的几小时后，全球贵金属市场经历了前所未有的震荡，黄金价格如瀑布般倾泻而下。 凌晨的贵金属市场一片恐慌，现货黄金价格一度下跌超过12%，盘中跌破每盎司4700美元，遭遇40年来的最大单日跌幅。更令人震惊的是，现货白银价格一 度暴跌36%，创出历史最大日内跌幅。 全球市场在短短48小时内蒸发了超过15万亿美元，显示极端避险情绪与高波动性。 这场历史性的暴跌直接导火索是美联储新主席的提名。美国总统特朗普提名前美联储理事凯文·沃什为下任美联储主席，这一消息迅速引发市场地震。 01 暴跌现场 贵金属市场迎来了被称为"黑色星期五"的交易日。北京时间1月31日凌晨，现货黄金价格上演惊魂一幕，盘中一度下跌超过12%，创下1983年以来的最大单 日跌幅。 黄金盘中最低触及4682美元/盎司，最终收跌9.25%。 白银市场则更加惨烈，现货白银日内最大跌幅达到惊人的35.89%，收盘重挫26.42%至85.259美元/盎司。这一单日跌幅创下白银市场历史纪录，远超黄金的 波动幅度。 这场历史性暴跌的直接导火索来自美国政治层面。1月30日，美国总统特朗普宣布提名前美联储理事凯文·沃什为下任美联储主席。 现年 ...

以下文章来源于盐财经 ，作者莫奈 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 杰我睿爆雷，百亿资金难兑付。 文 ｜ 莫奈 编辑 ｜ 江江 来源｜ 盐财经（ID：nfc-yancaijing） 封面来源 ｜ IC Photo 人人都知道，黄金涨疯了。 不少人正在网络上分享着赚得盆满钵满的喜悦之情。照理说，作为全国最大的黄金珠宝集散市场，水贝也理应迎来一片火热的交易气氛。 但2026年1月下旬，在黄金牛市背景下，一个名叫"杰我睿"平台的"爆雷"，让无数投资者心急如焚。 2026年1月下旬，不少用户发现，用于黄金回收、交易的深圳市杰我睿珠宝有限公司（以下简称"杰我睿"）的线上平台，突然无法提现。这些来自全国 各地的投资者纷纷来到其水贝的门店前，然而，店里已经人去楼空。 还有人评论说，"买了好几年的首饰和金条，都到手了没问题才信任的"。 杰我睿出事的消息，让不少人吓了一跳。但从事后来看，这是一场有铺垫有预谋的"金融骗局"。 这里面包括投资者叶心。2024年，叶心从网上了解到这个平台。她告诉盐财经，最初，她谨慎观望了几个月，后来加入进去，"我没有参加空约交易，只 是想买黄金，爆雷前，我买的黄金没有踩雷 ...

1月29日晚上10点钟，虽然已经下起了小雨，深圳水贝国际珠宝交易中心，杰我睿珠宝公司所在的特发 保税大厦楼下，仍有二三十名因大量资金或黄金无法提取的用户，彻夜守候不愿离开。 杰我睿"爆雷"引发广泛关注 据多名用户反映，杰我睿公司经营异常出现在1月18日，大量在杰我睿公司的贵金属交易平台充值购买 贵金属或寄存有黄金、白银的用户发现兑付异常，杰我睿的线上交易平台当时显示有数千人在排队等待 提现。21日，平台开始批量驳回用户提取现金和黄金、白银存货的申请，迅速在网上引发广泛关注，不 少用户在线上无法提现后纷纷赶到深圳水贝杰我睿公司所在地，但已经找不到、也联系不上公司的法人 和管理人员了。 据媒体报道，杰我睿线上交易平台的用户在15万左右，遍布全国多地，账户里本金和寄存贵金属没来得 及提现，价值高达数百万或几十万的用户不在少数。据一些用户自行统计的数据，未兑付资金可能已超 过百亿元。 预定价交易 杰我睿打开的"潘多拉魔盒" 位于深圳罗湖区的水贝黄金珠宝产业集聚区，周边500米范围内，是目前国内最大、产业链最完善的黄 金珠宝交易与集散中心。 成立于2014年的深圳市杰我睿珠宝有限公司，原为深圳水贝黄金原料交易商，近年来 ...

当日，针对杰我睿兑付困难一事，深圳市罗湖区工作专班发布公告称："近日，工作掌握辖区企业杰我睿经营异常，引发关注。罗湖区第一 时间组建工作专班介入，督促企业履行主体责任。目前，杰我睿负责人及相关核心管理人员均在岗，积极开展与投资人沟通、资产梳理和 兑付等工作。针对投资人反映的诉求，工作专班正在核查中。" 近日，深圳水贝市场一家名为深圳市杰我睿珠宝有限公司（下称"杰我睿"）的贵金属平台出现提现困难。多位杰我睿投资人向记者称，涉 及金额规模不小，牵连人数过万。 1月28日下午，上证报记者来到深圳水贝市场时，杰我睿所在的特发保税大厦楼下聚集了不少来自全国各地的投资人。保安人员在该处围起 护栏，只允许出，不允许入。 杰我睿门店。上证报记者 杨子晏 摄 报道详情： 记者调查发现,杰我睿在深圳水贝设有实体门 店,主营贵金属及珠宝的买卖回收。具体有两 种业务模式: 第一,回收业务。杰我睿正是由此"发家",即 投资人将金料寄给平台,并按回收价获得款 项。杰我睿的回收业务还附带"寄存业务"及"旧 物换新"。"寄存业务"即投资人可以选择在平台 上寄存金料,平台按当天金价的80%预付部分 款项给投资人。等投资人发出"卖出"指令,平 ...

Core Viewpoint - Shenzhen-based jewelry company Jie Wo Rui is facing a cash withdrawal crisis, affecting thousands of investors and involving significant amounts of money [1][14]. Company Overview - Jie Wo Rui was established on June 6, 2014, with a registered capital of 11 million RMB, operating in the wholesale and manufacturing sectors related to precious metals and jewelry [4]. - The company primarily engages in the sale of gold products, diamonds, jewelry, jade, and silver products, along with domestic trade and precious metal refining [4]. Business Model - Jie Wo Rui operates two main business models: 1. **Recycling Business**: Investors send gold materials to the platform and receive payment based on the recycling price, with options for storage and trade-in services [4][5]. 2. **Pricing Business**: Investors can lock in the ownership of gold/silver by paying a small deposit, with the requirement to pay the remaining balance upon withdrawal [5][12]. Crisis Details - The crisis appears to stem from the company's silver pricing business, which involved high leverage and speculative trading practices, leading to a liquidity crisis [11][12]. - Investors reported difficulties in withdrawing funds, with the platform limiting daily withdrawals to 500 RMB, which were often not processed [13][14]. Regulatory and Legal Concerns - The business model of Jie Wo Rui may violate regulations related to illegal futures trading and gambling, as it has transformed traditional physical gold trading into a high-leverage speculative tool [18]. - The platform's operations have raised concerns about its compliance with financial regulations, particularly regarding its high leverage and lack of transparency [12][18]. Impact on Industry - The crisis has implications for the broader gold trading market, potentially affecting numerous jewelers and consumers who rely on Jie Wo Rui for transactions [16][17]. - The event highlights the risks associated with unregulated financial practices in the gold trading sector, particularly in the context of rising speculative investments [14][18].

新京报消息，深圳水贝正在经历一场风波。在黄金价格猛涨的当下，深圳水贝杰我睿珠宝有限公司（以下 简称"杰我睿珠宝"）因无法提现而备受关注。多位消费者告诉贝壳财经记者，尽管当前杰我睿珠宝承诺每 天可提现500元，但数次尝试均不成功。 根据天眼查，杰我睿珠宝成立于2014年，员工仅有15人，经营范围包括销售黄金制品、白银制品以及珠宝 首饰回收修理服务等。 多位消费者告诉贝壳财经记者，最初关注这家公司主要是看中其线上回收价格较高，也有不定期"换款免 工费"的活动，才开始在该平台上买卖黄金。也正因此，杰我睿珠宝近年来吸引了大量的客户，一些社交 平台成了他们的"主营阵地"，逐渐发展成为线上回收黄金行业的头部平台。 1月28日，贝壳财经记者试图联系杰我睿珠宝实控人张志腾，但该公司在天眼查上留存的电话显示为空 号。消费者同步联系其微信名称显示的号码，则一直处于"无法接通"的状态。 "小程序显示提现有几万人在排队。"消费者欧女士告诉贝壳财经记者，杰我睿珠宝看似"积极"的处理，但 真正能够成功提现的人很少，"500人的群里不到10个人收到黄金或者款项，至少我还没有收到一笔提 现"。 另据家住湖南的消费者刘女士向记者展示的申请提现 ...

Core Insights - The cryptocurrency market experienced significant volatility, with Ethereum's price dropping below the critical support level of $3,500, leading to a massive liquidation wave totaling over $570 million in losses [1][2][3] - High leverage trading strategies have been severely impacted, highlighting the risks associated with such practices in the current market environment [4][12] Group 1: Market Dynamics - Over the past 24 hours, 198,110 traders faced liquidation, indicating the widespread impact of the liquidation storm [3][6] - Ethereum's price decline of 18% in the fourth quarter contrasts with Bitcoin's 9.41% drop, suggesting a decrease in capital inflow into Ethereum [6][8] Group 2: Trader Behavior - Notable traders faced significant losses, with one trader, "麻吉大哥," experiencing multiple liquidations and holding a position valued at $7.6 million [2] - A stark contrast in outcomes was observed between two Ethereum traders, with one suffering losses exceeding $15 million due to high leverage, while the other profited over $8.5 million using moderate leverage [2][12] Group 3: Technical Analysis - Technical indicators show that Ethereum's price has turned the critical moving average (EMA) into a resistance level, confirming a downward trend [6] - The liquidation map indicates that the $3,200 to $3,500 range is a critical area, where further price declines could trigger additional liquidations [6][12] Group 4: Macro Environment - The volatility in the cryptocurrency market is closely linked to the current macroeconomic environment, including political uncertainties and Federal Reserve policies [8][9] - Analysts suggest that aggressive Treasury issuance may deplete traditional investors' demand, indirectly affecting the cryptocurrency market [9]