1月28日，在2026年开年后的宏观动荡中，FPG财盛国际观察到贵金属市场正迎来高光时刻。周三，现 货金价历史性地跨越了 5200 美元整数大关，在美联储利率决议公布前的敏感期，由于美元指数深跌至 近四年来的低位，市场避险情绪被彻底点燃。这一里程碑式的突破，在FPG财盛国际看来，不仅是短期 消息面的刺激，更是全球投资者对传统信用货币信心产生动摇的直接体现。 1月28日，在2026年开年后的宏观动荡中，FPG财盛国际观察到贵金属市场正迎来高光时刻。周三，现 货金价历史性地跨越了 5200 美元整数大关，在美联储利率决议公布前的敏感期，由于美元指数深跌至 近四年来的低位，市场避险情绪被彻底点燃。这一里程碑式的突破，在FPG财盛国际看来，不仅是短期 消息面的刺激，更是全球投资者对传统信用货币信心产生动摇的直接体现。 市场数据清晰地记录了这一波疯狂的涨势：现货黄金触及 5224.95 美元的新高，自年初以来的累计涨幅 已突破 20%。FPG财盛国际表示，金价与美元之间极强的负相关性是本轮行情的主驱动力。此前特朗普 总统对美元走势的置评，被市场解读为白宫内部对"弱势美元"政策已达成共识，这直接引发了美元 的"信心危机" ...

在贵金属市场一片沸腾之际，花旗将对白银的短期判断直接"拉满"。 据追风交易台，1月27日，花旗研究在最新发布的《MetalMatters》报告中，将未来0–3个月白银目标价 从100美元/盎司大幅上调至150美元/盎司。在此之前，这一100美元目标仅在两周前刚刚给出，而当前 银价已快速突破110美元关口。 花旗直言，在当前阶段，白银的表现已不再是"跟随黄金"，而更像是"打了兴奋剂的黄金 （goldonsteroids）"。 从"贵金属"到"资本配置资产"，白银正在复制黄金的定价逻辑 花旗认为，当前这轮白银行情的核心驱动力，并非传统意义上的工业需求或供给收缩，而是资本配置逻 辑的全面激活。 与黄金类似，白银正在被全球资金视为一种：对冲宏观不确定性的资产、对冲地缘政治风险的工具、 对"美联储独立性受损"风险的定价载体。 但与黄金不同的是，白银具备更高的弹性与更强的价格加速度。 过去两周，金价上涨约10%，而白银涨幅超过30%。花旗形象地将其描述为：白银不是黄金的"影子"， 而是黄金的"平方项"。 本轮白银牛市的"发动机"：中国主导、印度跟买 花旗明确指出，本轮自12月以来、白银价格"翻倍式上涨"的行情，呈现出高度 ...

过去一周，美元、贵金属市场的走势形成了鲜明对比； 现货黄金再度刷新历史新高，首次突破5100美元/盎司关口，日内涨幅逾2%； 美元与黄金的经典"跷跷板"效应，在这一轮行情中表现得淋漓尽致。 白银价格今天最高触及109美元/盎司； 不到一个月的时间里两者涨幅分别超18%、51%。 美元指数下跌近2%，成为6月以来最差的一周。 黄金则斩获了近六年最佳单周表现上涨8.4%。 贵金属市场的集体狂欢，背后是多重力量的共振。 而在2022年之前，这一数据水平约为17吨。 全球央行对黄金保持高位的持续购买，为金价提供了强有力的支撑。 各国在去美元化趋势下，重新定义资产安全边界，增持黄金成为各国优化储备结构、对冲系统性风险、提高本国货币"含金量"的重要手 段； 黄金不再仅仅是传统的避险资产，正重新成为穿越周期的"压舱石"，升级为全球投资组合中不可或缺的"战略配置工具"。 黄金价格的飙升，迅速传导至消费终端。 多家品牌金饰克价突破了1575元/克。 与以往婚庆、礼品需求主导不同，本轮金饰消费热潮中，投资属性显著增强。 金饰正在从传统的消费品属性向投资品属性加速转变。 其中，黄金价格的屡创新高，既是地缘政治动荡、货币政策转向、美 ...

1月26日，随着全球宏观局势进入剧烈波动期，金丰来观察到，贵金属市场正见证一场史无前例的价格 重估。周一早盘，现货黄金不仅延续了 2025 年以来的强劲势头，更一举突破 5000 美元/盎司的心理与 技术双重高地，一度攀升至 5092.71 美元。这种爆发式增长反映了在全球避险情绪持续升温的背景下， 投资者正加速从传统法定货币向硬资产回归，将黄金视为资产保值的终极避难所。 在这一波史诗级行情的背后，全球货币体系的结构性变化起到了关键支撑作用。数据显示，2025 年黄 金录得 64% 的年度涨幅，创下自 1979 年以来的最佳表现。进入 2026 年，金价年内涨幅已迅速超过 17%。与此同时，白银市场同样表现亮眼，在去年 147% 涨幅的基础上，于近期成功站上 100 美元大 关，并在周一创下 109.44 美元的历史新高。金丰来认为，这种多品种共振向上的态势，显示出实物资 产市场正处于长期的供需紧平衡状态。 针对近期波动的诱因，金丰来认为，部分发达经济体在贸易政策上的极端举措是直接催化剂。例如，近 期针对欧洲及北美邻国的关税威胁（包括对加拿大 100% 的潜在关税以及对法国酒类 200% 的关税意 向），导致 ...

伦敦现货白银走势图 伦敦现货黄金走势图 闪耀的贵金属 当地时间1月23日，COMEX黄金盘中触及4991.4美元/盎司，创下该合约历史新高；1月23日，伦敦现货 白银、纽约白银期货价格双双突破100美元/盎司大关，再创历史新高…… 这究竟是贵金属"牛市"的延续，还是投机热潮退去前最后的"狂欢"？ 在宏观地缘风险与贸易政策不确定性等因素推动下，全球贵金属市场维持强势格局。 ...

1月23日，全球贵金属市场迎来历史性时刻。伦敦现货白银价格盘中首次突破100美元/盎司整数关口， 创历史新高，伦敦现货黄金同步刷新历史高点，逼近5000美元/盎司关口。 黄金分析师蒋舒在1月24日受访时对《每日经济新闻》记者分析称，白银连创新高的核心原因是跟随贵 金属牛市趋势。自2019年起，贵金属市场整体进入牛市，而从历次牛市规律来看，非黄金贵金属——如 银、铂、钯，在牛市后半段往往会出现价格飙升，与黄金形成明显涨幅差距，这是白银上涨的长期趋势 性因素。 在其看来，白银近期超预期连创新高，直接源于"特朗普2.0政策"带来的多重不确定性，从美联储独立 性、格陵兰岛相关分歧到市场担忧欧洲抛售美元资产，各类风险事件叠加，持续诱发强烈避险情绪，推 动资金涌入白银等贵金属及资源类商品，长期趋势与中短期因素共同促成当前行情。 多位贵金属分析师在接受记者采访时表示，此次白银价格飙升，紧跟当前贵金属牛市节奏，而美联储降 息预期升温与格陵兰岛问题引来的避险情绪发酵，正是支撑这波行情的核心因素。 站上100美元/盎司关口，白银还会涨吗？在分析师看来，100美元/盎司是一个所谓的"心理价位"。摩根 大通研究报告更是认为，白银市场 ...

Group 1 - The international silver market is currently trading above $76.96, with a recent price of $77.22, reflecting a 0.34% increase, and has seen a high of $77.49 and a low of $75.45 during the session [1] - The U.S. non-farm payroll report for December 2025 is expected to show a net increase of 60,000 jobs, with average hourly earnings projected to rise by 0.3% month-over-month and 3.6% year-over-year, while the unemployment rate is anticipated to slightly decrease to 4.5% [2] - The labor market in the U.S. is expected to continue the trend of "low hiring, low layoffs" as the latest employment data is released, following delays caused by the government shutdown [2] Group 2 - Traders have high confidence that the Federal Reserve will pause its rate-cutting cycle this month, with significant changes in expectations only likely if the labor market shows notable deterioration [2] - The market's reaction to the upcoming employment data release may be limited, especially with the U.S. Supreme Court potentially making a ruling on President Trump's "emergency" tariffs shortly after the data is published [2] - The silver market experienced fluctuations, opening at $78.275, dropping to a low of $73.804, and closing at $76.98, forming a long lower shadow hammer candlestick pattern, indicating potential bullish sentiment [2]

Core Insights - The global precious metals market experienced a historic surge in 2025, with gold rising approximately 64% for the year, marking the strongest performance in recent years and the largest annual increase since 1979, setting a 46-year record [1][3] - Silver outperformed gold with an annual increase exceeding 147%, making it the strongest annual performer in history [1][3] - The precious metals rally in 2025, despite ending with a pullback, has established a broader upward potential for 2026, with predictions of gold reaching $5,000 no longer seen as a dream [1][3] Market Analysis - Current market conditions show that after multiple tests of the 4300 level, gold has rebounded, with a brief drop to around 4270 forming a pin bar pattern, indicating a potential bottom at 4300 [1][3] - As long as gold remains below 4400, it is in a bullish trend consolidation phase, with a focus on the 4300/4400 range [1][3] - A breakout above 4400 could lead to a strong upward trend, with potential targets at 4550 [1][3] - For January trading, the strategy is to look for long positions below 4400, with support at 4300 and aggressive buying possible at 4315, while resistance levels to watch are 4385 and 4400 [1][3]

Fundamental Analysis - On January 2, 2026, spot gold showed a slight increase, trading around $4044, up approximately 0.6%, while spot silver rose 1.6% to $72.64 per ounce [1] - The significant rise in gold prices in 2025 was attributed to multiple favorable factors, including the Federal Reserve's interest rate cuts, which lowered the opportunity cost of holding non-yielding assets like gold [1] - Geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, have further enhanced gold's appeal as a safe-haven asset, driving investors towards gold amid global uncertainties [1] Market Performance - In 2025, the global precious metals market experienced a historic surge, with gold prices increasing by approximately 64%, marking the largest annual gain since 1979 [3] - Silver outperformed gold with an annual increase of over 147%, while platinum and palladium also saw significant gains of over 126% and 75%, respectively, indicating a strong bull market across the sector [3] - Despite a notable decline in prices at the end of the year, the overall performance of precious metals in 2025 was remarkable, attracting global investor interest [3] Central Bank Activity - Central banks have been strong buyers of gold, diversifying reserves and hedging against inflation and geopolitical risks, with most central banks being net buyers [4] - This structural demand from central banks has contributed to the steady rise in gold prices, alongside significant inflows into gold ETFs, enhancing market liquidity [4] Outlook for 2026 - Analysts maintain an optimistic outlook for 2026, predicting that gold prices could reach $5000 per ounce and silver could hit $100 per ounce, despite potential short-term volatility [5] - The ongoing bull market for precious metals is expected to continue, supported by central bank purchases, miner stockpiling, and speculative interest, alongside persistent geopolitical risks and further easing from the Federal Reserve [5] - The closing price on January 2, 2026, is seen as a critical indicator for future price movements, with a close near the high suggesting continued upward momentum [5]

Core Viewpoint - The recent U.S. non-farm employment report for October and November met market expectations, causing significant fluctuations in the U.S. dollar index and silver market [1][2]. Group 1: U.S. Dollar Index Reaction - Following the release of the non-farm employment report, the U.S. dollar index initially dropped but rebounded within 20 minutes, reaching a peak of 98.17 points, indicating a market interpretation of "bad news is good news" [3][9]. - The dollar index continued to rise during the Asian to European trading session, hitting a high of 98.43 points, reinforcing the notion that negative news may have been fully priced in [3][9]. Group 2: Silver Market Dynamics - Silver reacted strongly to the non-farm employment report, reaching a record high of $66.50, driven by a surge in media and investor interest [3][9]. - The dual nature of silver as both a safe-haven asset and an industrial metal has contributed to its price increase, with approximately half of its annual production used in photovoltaic and electronic applications [4][10]. - The transition from traditional fuel vehicles to electric vehicles is expected to increase demand for silver in the photovoltaic sector, further supporting its price [4][10]. Group 3: Silver Price Trends - The long-term trend for silver is bullish, with few significant pullbacks observed. The latest price of $65.88 suggests that the next potential mid-term high could be around $70 [7][13]. - Historical price points indicate that $54.44 is a mid-term high and $45.52 is a mid-term low, with the market currently seeking new highs following the recent record [7][13].