接下来领峰贵金属将从3个维度详细解析非农数据驱动贵金属波动的逻辑。 一、美元指数的反向联动 相关性：黄金与美元指数负相关（近5年相关系数-0.72）。 传导路径：非农超预期→美元需求增加→黄金承压（以美元计价）。 三、薪资增速的隐性影响 时薪环比增速：反映通胀压力，间接影响货币政策。 决策链：非农超预期 + 时薪增速 >0.4% → 强化加息预期 → 黄金利空。 以下为近几年非农数据公布后贵金属的典型反应（数据来源：领峰行情数据中心）： 二、避险情绪与风险资产的跷跷板效应，黄金有以下双重属性： 1、避险属性：经济衰退担忧升温时，资金涌入黄金。 2、抗通胀属性：实际利率为负时，黄金作为保值工具受追捧。 数据矛盾时的市场选择：当非农与失业率背离，市场优先反应失业率隐含的衰退风险。典型案例：2020年4月非农骤减2050 万（史上最差），但黄金仅微涨0.3%。因市场已提前定价，且美联储紧急降息至零利率，避险需求饱和。 | 日期 | 非农数据 | 失业率(%) | 市场预期 | 黄金波动 | 白银波动 | | --- | --- | --- | --- | --- | --- | | 2023. 4. 7 | +25 ...

上海黄金交易所黄金T+D 5月5日（周一）早盘盘初下跌0.67%报779.5元/克； 上海黄金交易所白银T+D 5月5日（周一）早盘盘初下跌0.48%报8163.0元/千克。 ...

四月，超级行情密集爆发，黄金耀眼表现惊艳全球！时至五月，全新挑战一触即发，炒金人不仅要趁势 抢占行情风口期，更要把每一笔资金都用在刀刃上。为此，皇御贵金属重磅升级本月点差分层福利，注 资门槛惊喜直降，每手$22、$26不同层级回赠让每一位投资者入市交易更畅快。 （图源/皇御贵金属官网） 如何参与点差优惠活动？ 活动期间，皇御贵金属客户登录用户中心，注资达标即可自助申领福利。账户余额＜$3000，每手回赠 $16；$3000≤账户余额＜$10000，每手回赠$22；账户余额≥$10000，每手回赠26，各层级点差优惠注资 门槛直降，让您成本投入大省一笔！赠金领取简单，交易0.01手起平仓即返，总额上不封顶！ 美联储官员释放信号，降息时间表确定了？ 在美国总统挥动"关税大棒"在全球金融市场搅弄风云的背景下，市场对于美联储降息时间表予以高度关 注。随着美联储5月议息会议临近，多位官员表示，现在判断利率走势为时过早，货币政策可能不会立 即发生变化。 05月01日 美国4月ISM制造业PMI 05月02日 美国4月非农就业报告 4月23日，美联储理事沃勒警告称，美国总统引发的贸易战可能很快会导致失业率上升。他表示，若关 ...

上海黄金交易所黄金T+D 4月30日（周三）晚盘盘初下跌0.67%报779.5元/克； 上海黄金交易所白银T+D 4月30日（周三）晚盘盘初下跌0.48%报8163.0元/千克。 ...

Group 1 - The gold market showed fluctuations with Au99.95 opening at 781.00 and closing at 779.25, reflecting a decrease of 2.32 yuan or 0.30% [2] - Au100g experienced a decline, opening at 790.03 and closing at 781.29, down by 8.74 yuan or 1.11% [2] - Au(T+D) opened at 781.69 and closed at 779.50, with a decrease of 5.22 yuan or 0.67% [3] Group 2 - The trading volume for Au99.95 was 18, while Au100g had a significantly higher volume of 8343.96 [2] - The total transaction amount for Au99.95 was 14,031,600 yuan, while Au100g reached 6,516,398,728.8 yuan [2] - Au(T+D) had a trading volume of 31,770 with a transaction amount of 24,825,394,560 yuan [3] Group 3 - The market for platinum (Pt99.95) opened at 240.03 and closed at 237.00, reflecting a decrease of 3.03 yuan or 2.02% [3] - The silver market (Ag(T+D)) opened at 8210.00 and closed at 8163.00, down by 66.1 yuan or 0.48% [3] - The overall market showed a mixed performance with varying degrees of price changes across different precious metals [4]

上海黄金交易所黄金T+D 4月30日（周三）收盘下跌0.67%报779.5元/克； 上海黄金交易所白银T+D 4月30日（周三）收盘下跌0.48%报8163.0元/千克。 ...

上海黄金交易所黄金T+D 4月30日（周三）早盘盘初下跌0.31%报782.26元/克； 上海黄金交易所白银T+D 4月30日（周三）早盘盘初下跌0.13%报8191.0元/千克。 ...

上海黄金交易所黄金T+D 4月29日（周二）晚盘收盘上涨0.14%报785.85元/克； 上海黄金交易所白银T+D 4月29日（周二）晚盘收盘上涨0.04%报8205.0元/千克。 ...

Group 1: Market Trends - Recent fluctuations in gold prices have led to a shift in investment focus towards silver and platinum, with silver futures reaching a 12-year high of $35.5 per ounce and platinum futures surpassing $1,000 per ounce, reflecting a year-to-date increase of approximately 10% [1][2] - As of April 29, 2023, spot gold prices fell to around $3,324 per ounce after peaking at $3,500, indicating a significant market correction [1][2] - The Shanghai Futures Exchange reported a slight increase in gold futures, with the main contract closing at 786.98 yuan per gram, while silver futures saw a minor rise of 0.12% [1] Group 2: Consumer Behavior - There is a noticeable shift in consumer interest from gold jewelry to platinum and silver, as consumers find these alternatives more affordable and stylish for everyday wear [1] - Despite a decline in overall gold consumption, demand for investment gold bars remains strong, with a year-on-year increase of 29.81% in gold bar and coin consumption [5] Group 3: Supply and Demand Dynamics - The rise in silver prices is attributed to increasing industrial demand, particularly in photovoltaic and electronic sectors, while platinum prices are recovering due to supply shortages [2][3] - Silver futures inventory has decreased for three consecutive weeks, indicating tightening supply conditions [2] Group 4: Investment Strategies - Analysts suggest that investors should consider adjusting their precious metal portfolios based on the gold-silver ratio to balance risk and return objectives [3] - The ongoing accumulation of gold by central banks is seen as a key factor supporting gold prices, although individual investors are advised to be cautious about the opportunity costs associated with gold investments [5]

上海黄金交易所黄金T+D 4月29日（周二）晚盘盘初下跌0.38%报781.7元/克； 上海黄金交易所白银T+D 4月29日（周二）晚盘盘初上涨0.11%报8211.0元/千克。 ...