来源：中原网 12月22日，贵金属集体大涨，多个品种创新高。 | 国际贵金属 | | | | | | --- | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | 伦敦金现 | 4383.035 | 44.675 | 1.03% | 67.03% | | 伦敦银现 | 68.471 | 1.422 | 2.12% | 137.03% | | COMEX黄金 | 4414.5d | 27.2 | 0.62% | 67.26% | | COMEX日银 | 68.700d | 1.211 | 1.79% | 134.55% | | 伦敦金(人民币/克) | 992.2018 | 10.1132 | 1.03% | 61.11% | | 伦敦银(人民币/千克) | 15500.0020 | 321.9027 | 2.12% | 128.64% | | 现货铂金(美元/盎司) | 2027.90 | 59.20 | 3.01% | 124.33% | | 现货把金(美元/盎司) | 1747.91 | 35.91 | 2.10% | 92.40% | | N ...

现货铂金持续走高，现涨超3%，报2002.3美元/盎司，为自2008年以来首次升破2000美元/盎司，今年累 涨超120%。 专家普遍认为，全球央行持续购金已成为打破传统供需平衡的关键变量，而美联储货币政策转向宽松预 计将进一步利好黄金。长期来看，美元购买力变化、央行储备行为及地缘政治风险仍是影响金价的核心 因素。 据世界黄金协会12日报告显示，11月全球实物黄金ETF流入达52亿美元，已连续六个月实现流入。截至 11月底，资产管理总规模增至5300亿美元，环比增长5.4%；总持仓上升1%至3932吨，均创新高，今年 全球黄金ETF流入总量有望创下历史最佳年度表现。 12月22日，贵金属集体大涨，多个品种创新高。 | | 不需給馬 | | | | | --- | --- | --- | --- | --- | | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | 伦敦金现 | 4383.035 | 44.675 | 1.03% | 67.03% | | 伦敦银现 | 68.471 | 1.422 | 2.12% | 137.03% | | COMEX黄金 | 4414.5d | 27.2 | 0.6 ...

中信建投研报称，美国11月CPI超预期降温，令市场对美联储2026年降息幅度有所上修，黄金、白银、 铂钯等贵金属价格走强，锡、铜、铝等工业金属亦表现强势。一面是充裕的流动性，一面是供给的强约 束，推动商品价格不断挑战阶段性高点。另外，基础原材料对经济发展的重要性越来越被相关国家重 视，甚至启用关税的手段获得这类产品，加剧了市场的区域性缺口，进一步推动价格的上行。 12月22日，港股黄金白银股集体拉升走强，其中，中国白银集团涨近6%领衔，中国黄金国际、珠峰黄 金涨超4%，赤峰黄金、招金矿业、紫金矿业涨近3%，山东黄金、紫金黄金国际涨2%。 消息上，亚洲早盘，现货白银涨破68美元/盎司关口，刷新历史高点，日内涨超1.4%，年内累涨约1.36 倍；现货黄金日内涨超1%，突破4380美元/盎司，再创历史新高。 港股频道更多独家策划、专家专栏，免费查阅>>责任编辑：栎树 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 00815 | 中国白银集团 | 0.730 | 5.80% | | 01815 | 珠峰黄金 | 2.380 | 4.39% | | 0209 ...

Gold steadied near a record high, as traders weighed the outlook for US monetary policy following economic data that supported the case for interest-rate cuts. Spot gold rose 0.6% on Friday before paring the advance to trade near $4,340 an ounce, which saw it notch a second straight week of gains. The core US consumer price index rose at the slowest pace since early 2021, according to data released Thursday, bolstering the case for lower borrowing costs – a tailwind for non-yielding precious metals. Mos ...

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Core Viewpoint - Gold prices are expected to close the week positively, supported by persistent demand and geopolitical tensions [1] Group 1: Market Dynamics - Central banks continue to purchase gold, contributing to price stability [1] - Resilient inflows into ETFs are also supporting gold prices [1] - Geopolitical tensions are identified as a significant factor maintaining support for gold prices [1] Group 2: Economic Indicators - Recent U.S. inflation data was below expectations, leading to a rally in Wall Street [1] - Economists advise caution in interpreting the inflation report due to data collection issues during the government shutdown [1]

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the commodities market, particularly in the context of the US-China geopolitical landscape and the energy supply dynamics for 2025-2032 [2][3][6]. Core Insights and Arguments Geopolitical and Economic Factors - The US-China AI and geopolitical power race is a significant driver for commodity investments, particularly gold, as emerging market (EM) central banks diversify into gold to hedge against geopolitical risks [2][6]. - A long-term bullish outlook for gold is maintained, with expectations for the price to rise by 14% to $4,900 per ounce by December 2026, driven by increased central bank demand and potential diversification into private investments [2][13][15]. - Commodities are viewed as portfolio insurance due to rising supply concentration and geopolitical tensions, which increase the risk of supply disruptions [20][21]. Specific Commodity Insights - **Gold**: Continued strong demand from central banks is expected, averaging 70 tonnes per month in 2026, significantly higher than pre-2022 levels [15][16]. - **Copper vs. Aluminum**: A recommendation to go long on copper and short on aluminum is based on copper's supply constraints and increasing demand from electrification, while aluminum supply is expected to rise due to China's overseas investments [10][33][41]. - **Oil Market**: A forecast of a 2.0 million barrels per day (mb/d) surplus in the oil market for 2026, with Brent and WTI prices expected to average $56 and $52 respectively [60][61]. The oil supply wave is anticipated to be short-lived, leading to lower prices [59][60]. - **Natural Gas**: A global gas glut is expected, with LNG supply projected to increase by over 50% by 2030, leading to a potential 35% reduction in European natural gas prices by mid-2027 [67][71]. Market Dynamics - The US power market is tightening due to a surge in data center demand, which is expected to outpace power generation capacity, leading to higher prices and potential outages [47][52][53]. - The report highlights the geographic concentration of commodity supply and the strategic role of commodities in the context of geopolitical tensions, particularly regarding rare earths and critical minerals [20][21][27]. Additional Important Insights - The report emphasizes the importance of understanding the cyclical and structural trends in the commodities market, with significant return differentiation expected across various commodities in 2026 [3][81]. - The potential for supply disruptions in critical minerals and the implications of China's export restrictions on rare earths are noted as significant risks [21][26]. - The report also discusses the long-term outlook for oil and gas prices, suggesting that while short-term pressures may exist, a recovery is expected in the latter part of 2026 and into 2027 [66][78]. This summary encapsulates the key points from the conference call, providing insights into the commodities market's dynamics and the implications of geopolitical factors on investment strategies.

Industry Overview - Silver is recognized as a critical metal in the US, with approximately 65% of its usage attributed to industrial applications, primarily in solar panel production and electronics [2][3] - The demand for silver is driven by both industrial use and investment interest, with investors purchasing silver similarly to gold [3][4] Supply and Demand Dynamics - There has been a structural deficit in silver supply over the past five years, with no significant increase in mining production to meet the rising demand from both industrial and investment sectors [6][11] - The majority of silver (75%) is produced as a byproduct of copper mining, and with copper prices at an all-time high, there are limited new silver supplies expected in the near future [8][9] Market Trends - The current silver price surge is influenced by a combination of industrial demand, investment interest, and potential short squeezes in the market [4][11] - The ongoing electrification trends, including advancements in technologies like self-driving cars, are expected to further increase silver demand in the coming years [10][11] Company Strategy - The company has been actively pursuing growth through exploration and acquisitions to enhance its silver production capabilities [13][14] - Continued exploration success and strategic acquisitions are part of the company's long-term growth strategy to meet the increasing demand for silver [13][14]

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Core Viewpoint - Gold prices are nearing record levels due to investor anticipation of US inflation data and rising geopolitical tensions, particularly in Venezuela [1][3][5] Group 1: Gold Market Dynamics - Gold is trading near $4,350 an ounce, recovering from a slight decline after a five-day winning streak [2] - The precious metal has surged over 60% this year, positioning it for its best annual performance since 1979, driven by increased central bank purchases and a retreat from government debt [5] - Predictions suggest gold could reach $5,000 an ounce next year, supported by inflationary pressures and a global growth slowdown [4] Group 2: Geopolitical Influences - Tensions in Venezuela, including a US blockade of sanctioned oil tankers and military buildup, are contributing to gold's appeal as a safe haven [3][5] - The geopolitical climate is enhancing gold's attractiveness amid investor concerns over economic stability [5] Group 3: Monetary Policy and Market Sentiment - Investors are closely monitoring upcoming inflation data for indications of the Federal Reserve's future rate cuts, which could impact precious metals [2][6] - Current market sentiment assigns a less-than-25% chance of a rate reduction in January, indicating cautious optimism among traders [6] Group 4: Future Projections - Analysts predict that gold will average $4,500 an ounce by 2026, with expectations of a more sustainable bullish trajectory following this year's rapid price increase [7]