Market Performance - The three major indices strengthened again, with the Shanghai Composite Index rising by 0.53%, the Shenzhen Component Index increasing by 0.88%, and the ChiNext Index up by 0.77%. The STAR Market 50 Index rose by 0.9%. Over 3,900 stocks in the two markets were in the green, with a total trading volume reaching approximately 1.88 trillion yuan [2] AI and Liquid Cooling Sector - AI power and liquid cooling concept stocks led the gains, with Zhongheng Electric (002364.SZ) and Maigemeite (002851.SZ) both rising by 10%, and Oulutong (300870.SZ) increasing by over 9%. Haibosi Chuang (688411.SH) saw significant gains. According to a report from Western Securities, NVIDIA's GTC conference in 2025 revealed that orders for Blackwell and Rubin are estimated at around 14 million GPUs for the next five quarters, with the liquid cooling market size for NVIDIA projected to be conservatively/optimistically around $6.9 billion/$9.7 billion by 2026. The domestic liquid cooling market is expected to see high growth opportunities due to the rapid increase in the adoption of AI super node integrated systems [3] Commercial Aerospace Sector - The commercial aerospace sector experienced a resurgence, with Chaojie Co., Ltd. (301005.SZ) rising by 20%, Shenjian Co., Ltd. (002361.SZ) achieving five consecutive trading limits, and Aerospace Power (600343.SH) increasing by 10%. Aerospace Development (000547.SZ) rose by over 9% [4] IPO and Reusable Rockets - The China Securities Regulatory Commission disclosed that Blue Arrow Aerospace's IPO counseling work has been officially completed, with China International Capital Corporation as the counseling institution. Open Source Securities stated that the large-scale application of commercial aerospace heavily relies on low-cost, high-frequency launch capabilities, with reusable rockets being key. China's recoverable rockets have entered the engineering verification stage, with multiple rocket types, including Blue Arrow's Zhuque-3 and Long March 12甲, undergoing intensive test flights. It is expected that the next three years will see a phase of simultaneous launching and iteration in commercialization [5] Photovoltaic Sector - The photovoltaic sector showed strong fluctuations, with perovskite battery stocks leading the gains. Dongfang Risen (300118.SZ) rose by over 10%, Junda Co., Ltd. (002865.SZ) hit the daily limit of 10%, and Saiwu Technology (603212.SH) and Maiwei Co., Ltd. (300751.SZ) also saw increases. Analysts noted that perovskite batteries possess core advantages such as ultra-lightweight, low cost, high radiation resistance, and flexibility, making them a revolutionary solution to address energy bottlenecks in space and support the scaling of the space economy [5] Semiconductor Sector - Semiconductor concept stocks were active, with Huahai Chengke (688535.SH) rising by 12.88%, Demingli (001309.SZ) increasing by over 9%, and both SMIC (688981.SH) and Chipone (688521.SH) also seeing gains. Reports indicated that SMIC has implemented price increases on some production capacities, with an increase of about 10%. Additionally, NVIDIA has informed Chinese customers that it plans to deliver its second-ranked AI chip, H200, to them in mid-February next year [6] Declining Sectors - The precious metals, liquor, and insurance sectors weakened, with Western Gold (601069.SH), Kweichow Moutai (600519.SH), and New China Life Insurance (601336.SH) all experiencing declines [7]

Market Overview - Major A-share indices collectively rose, with the Shanghai Composite Index up 0.53% to 3940 points, the Shenzhen Component Index up 0.88%, and the ChiNext Index up 0.77% [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.88 trillion yuan, a decrease of 19.6 billion yuan from the previous trading day [1] Sector Performance - The commercial aerospace sector saw a significant surge, with multiple stocks hitting the daily limit, including New Jingang, Chaojie Co., and Xinle Energy [4][6] - The CPO sector also performed well, with Ying Tang Zhi Kong hitting the daily limit [7] - The AI glasses sector was active, with stocks like Huanxu Electronics and Runbei Aerospace reaching the daily limit [9] - The nuclear pollution prevention sector rose, with Puni Testing hitting the daily limit [11] - The autonomous driving concept gained traction, with stocks like Zhejiang Shibao and Hezhong Shizhuang hitting the daily limit [13] Notable Stocks - New Jingang rose by 20.02% to 22.66 yuan, Chaojie Co. increased by 20% to 112.44 yuan, and Xinle Energy also rose by 20% to 30.24 yuan [5] - Ying Tang Zhi Kong increased by 20% to 14.82 yuan, while Huanxu Electronics rose by 10.01% to 30.55 yuan [10] - Puni Testing rose by 19.95% to 9.32 yuan, and other stocks in the nuclear pollution sector also saw gains [11] Policy and Regulatory Developments - The completion of Blue Arrow Aerospace's IPO guidance work was announced, with the China International Capital Corporation as the advisory institution [6] - The establishment of a dedicated Commercial Aerospace Department by the National Space Administration indicates a push for high-quality development in China's commercial aerospace industry [6] - The recent issuance of L3-level autonomous driving vehicle license plates in Beijing marks a significant step in the development of smart connected vehicles [14]

中信期货分析指出，现货黄金站上4500美元/盎司，历史首次；黄金上涨逻辑仍然流畅，且在贵金属中 安全边际较高。伴随市场对联储2026年降息预期升温、区域不确定性增加、及圣诞假期和新年假期临 近，为黄金价格提供支撑。美国"低通胀+弱现实+联储换届"的组合利于美联储宽松。此外，1月公布的 非农、通胀等经济数据质量亦有望回升，将对市场提供更多指引。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 12月24日，受委内瑞拉紧张局势升级以及市场预期美联储明年将进一步降息的影响，黄金现货价格首次 突破每盎司 4500 美元大关，再度创下历史新高，COMEX黄金期货价格一度触及4555美元，今年第五 十一个交易日创下新高。白银一度创下每盎司71.856美元的历史新高。 受此催化，黄金有色相关产品表现较强，截至14:53，黄金ETF华夏(518850)涨0.05%，有色金属ETF基 金(516650)探底回升涨0.55%，盘中持续溢价，或为资金抢筹。 ...

每日经济新闻消息，金银铜价，全部爆了！ 12月24日，现货黄金继续拉升，盘中最高触及4525.70美元/盎司，再创历史新高，截至发稿稍有回落，报 4498.36美元/盎司。数据显示，现货黄金价格年内上涨了约1880美元/盎司，涨幅超过70%。 国内金饰价格应声上涨，24日，周生生金饰克价为1411元，较前一日上涨8元，较22日上涨44元；老凤祥 为1406元，较前一日上涨7元，较22日上涨41元；周大福为1410元，较前一日上涨7元，较22日上涨42元。 同日，现货白银价格继续冲高，盘中一度达到72.68美元/盎司，创历史新高，截至发稿涨报72.06美元/盎 司。 此外，受全球多个矿山停产导致的供应短缺以及特朗普政府潜在关税政策影响，伦敦铜价周二盘中首次突 破每吨12000美元大关，创下历史新高。 机构：金价明年还会涨 但不会像今年幅度这么大 国联期货分析认为，2026年贵金属牛市将持续进阶，核心由"金融属性+工业需求"双引擎驱动且品种分化 显著：黄金依托全球宽财政周期下的债务与货币信用担忧、美联储"前稳后快"的降息周期、央行购金的长 期结构性支撑及仍存增量空间的投资需求，维持震荡上行态势，成为对冲全球财政与 ...

每经AI快讯，12月24日，市场震荡拉升，沪指高开高走，深成指、创业板指均涨近1%。沪深两市成交 额1.88万亿元，较上一个交易日缩量196亿元。盘面上，市场热点轮动较快，全市场超4100只个股上 涨。从板块来看，商业航天概念持续爆发，20余只成分股涨停，神剑股份（002361）5连板，国机精工 （002046）4天3板，上海港湾（605598）、九鼎新材（002201）、再升科技（603601）涨停。算力硬件 概念拉升，环旭电子（601231）6天3板，英唐智控（300131）20cm涨停。福建板块走强，安记食品 （603696）7天4板，合兴包装（002228）3连板。PCB概念快速拉升，生益科技（600183）涨停创历史 新高。下跌方面，贵金属、保险、乳业等板块跌幅居前。其中乳业概念集体调整，庄园牧场（002910） 跌停。截至收盘，沪指涨0.53%，深成指涨0.88%，创业板指涨0.77%。 ...

Group 1 - The spot gold price has historically surpassed the 1,000 yuan mark, with the latest price at 1,013.7 yuan per gram, reflecting a year-to-date increase of nearly 70% [1] - Domestic gold brands have raised their prices, with notable increases such as Chow Sang Sang's gold jewelry priced at 1,403 yuan per gram, up by 36 yuan from the previous day [1] - Silver prices have also risen significantly, reaching 15.75 yuan per gram, with a year-to-date increase of 139% [1] Group 2 - The recent surge in precious metal prices is primarily supported by expectations of interest rate cuts from the Federal Reserve, alongside heightened geopolitical tensions that have increased safe-haven buying [2] - Analysts from Everbright Futures indicate that there is considerable divergence among Federal Reserve officials regarding future interest rate cuts, which is influencing market sentiment towards precious metals [2]

近年来，为了化解美国政府债务，美国绕开了"禁止美联储直接在一级市场认购国债"的法律规定，通 过"财政部发债+美联储在二级市场购债+利率操控"方式，实现了实质性的债务货币化。简言之，美联 储通过"印钞"，在"美元—美债"的闭环中成功转嫁了通胀并稀释了债务。 作为世界货币，美元在全球央行外汇储备中占比一度超过70%。截至2025年第二季度末，这一数据仍然 高达56.32%。保持本国币值和外汇储备的安全性，是各国央行的重要职责。面对债务赤字货币化的操 作和即将走弱的美元，全球央行不得不被动掀起了一波购金潮。世界国际货币基金的公开数据显示，尽 管2025年黄金价格上涨幅度已经超过了60%，但各国需求保持强劲，黄金在全球央行储备资产中的占比 已经升至26%，这种对价格"不敏感"的需求成为了黄金市场价格上涨的重要推手。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 在经过10月底和11月初的短暂回调后，全球黄金价格再创新高。12月23日，COMEX黄金价格突破4500 美元/盎司，相较年初上涨约70%。 分析此次黄金价格的走势，可以从长短期两个角度入手。随着美国最新非农就业数据出炉，市场普遍预 ...

央广网北京12月24日消息（记者王吉星）据中央广播电视总台经济之声报道，今年以来，全球贵金属价 格集体飙涨，黄金、白银、铂金等品种均创下历史新高。贵金属价格为何"狂飙"？白银涨成"年度黑 马"的真相是什么？黄金牛市中为何也会亏钱？总台记者专访华夏基金高级策略分析师陈彦冰。 "上涨也能成为上涨的理由" 今年以来，贵金属已成为全球资本市场中最具爆发力的资产之一。黄金全年创下超50次的历史新高，年 内累计涨幅约65%；白银涨幅更是达120%左右，显著跑赢黄金；铂、钯亦加速补涨，今年以来涨幅分 别超过90%、60%。 "几类贵金属品种虽有区别，但同属贵金属家族，其上涨的底层逻辑相通。"陈彦冰认为，以黄金上涨为 例，可以从三个维度理解：一是海外央行降息周期的预期；二是"去美元化"浪潮下，各国央行的配置需 求，构成这轮金价上涨的核心长期逻辑；三是地缘政治的不确定和避险情绪。此外，"上涨也能成为上 涨的理由。"贵金属因为也具备金融属性，所以也具有和其他金融资产一样的自我强化逻辑。 2026年贵金属投资建议 一、保持在场，但要用配置思维来看待，降低预期； 二、分清黄金和其他贵金属的定位，用核心+卫星策略配置； 三、谨慎加杠杆 ...

Economic Growth - The U.S. economy is projected to grow at an annualized rate of 4.3% in Q3 2025, up from 3.8% in Q2 2025, driven by increased personal consumption expenditures, which account for about 70% of the economy [1] - Personal consumption expenditures grew by 3.5% in the quarter, while government consumption and investment increased by 2.2% [1] - Exports rose by 8.8%, but non-residential fixed investment only grew by 2.8%, significantly lower than the previous quarter's growth of 7.3% [1] Precious Metals Market - The international precious metals market showed strong performance, with spot gold and silver reaching historical highs [1] - COMEX gold futures closed at $4,515 per ounce, with a daily increase of 1.02% [1] - Spot silver surged over 2%, breaking the $70 per ounce mark for the first time, while platinum prices also hit a record, surpassing $2,300 per ounce [1] Oil Market - International oil prices have been rising for several consecutive trading days, influenced by the market's assessment of the impact of recent U.S. actions against Venezuelan oil tankers on supply [1] Stock Market Performance - On December 23, all three major U.S. stock indices recorded gains, with the Dow Jones Industrial Average up by 0.16%, the Nasdaq Composite up by 0.57%, and the S&P 500 up by 0.46%, all reaching historical closing highs [1] - Major technology stocks generally experienced an upward trend [1]

每经编辑｜段炼 金银铜价，全部爆了！ 12月24日，现货黄金继续拉升，盘中最高触及4525.70美元/盎司，再创历史新高，截至发稿稍有回落，报4498.36美元/盎司。数据显示，现货黄金价格年 内上涨了约1880美元/盎司，涨幅超过70%。 国内金饰价格应声上涨，24日， 周生生金饰克价为1411元，较前一日上涨8元，较22日上涨44元 ；老凤祥为1406元，较前一日上涨7元，较22日上涨41 元；周大福为1410元，较前一日上涨7元，较22日上涨42元。 同日，现货白银价格继续冲高，盘中一度达到72.68美元/盎司，创历史新高，截至发稿涨报72.06美元/盎司。 此外，受全球多个矿山停产导致的供应短缺以及特朗普政府潜在关税政策影响，伦敦铜价周二盘中首次突破每吨12000美元大关，创下历史新高。 但不会像今年幅度这么大 国联期货分析认为，2026年贵金属牛市将持续进阶，核心由"金融属性+工业需求"双引擎驱动且品种分化显著：黄金依托全球宽财政周期下的债务与货币 信用担忧、美联储"前稳后快"的降息周期、央行购金的长期结构性支撑及仍存增量空间的投资需求，维持震荡上行态势，成为对冲全球财政与货币体系不 确定性的"压舱 ...