港股上午盘三大指数盘初冲高后持续走弱，临近午盘集体曾集体转跌。恒生指数涨0.03%，国企指数涨 0.04%，恒生科技指数微幅下跌0.06%。大型科技股走势分化，京东、阿里巴巴涨近3%，美团、百度跌 超2%；巴克莱大幅上调金银铜价格预期，黄金股领衔有色金属股上涨，其中招金矿业盘中创历史新 高。另外，据报6家光伏龙头被约谈，光伏股走低，内房股、航空股集体弱势。(格隆汇) ...

贵金属2026年报 ——贵金属仍处上行通道， 拐点关注美联储政策变化与美国经济改善 汪楠 从业资格号：F3069002 投资咨询号：Z0017123 中航期货 2025-12-31 02 宏观面 目录 01 后市研判 03 基本面 后市PA研RT判01 Ø 2025年贵金属市场表现亮眼，黄金和白银均呈现加速上涨格局，不断突破历史新高。年内国际金价从2600美元/盎司上涨至最高4550美元/盎司 以上，涨幅70%以上；国际银价从29美元/盎司上涨至最高82美元/盎司上方，涨幅高达180%以上。2025年贵金属价格上涨的逻辑不断切换，从 上半年市场交易对等关税及美国经济衰退担忧带来的避险需求，到下半年交易降息预期带来的流动性宽松预期，叠加白银实物供需紧缺驱动 资金流入贵金属市场，价格加速上行，波动显著放大。在金价上涨的过程中，白银涨幅遥遥领先，实现了金银比的修复回归。 Ø 展望2026年，当前支撑贵金属价格上涨的逻辑并没有发生改变，贵金属仍处上行通道。美国财政货币双宽松的背景下，美元信用持续受损， 去美元化加速资产储备的多元化，全球央行延续购金将继续支撑金价，重点关注中国央行购金行为；而流动性宽松仍将是2026年 ...

Group 1 - The core viewpoint of the articles highlights significant movements in the stock market, particularly in Hong Kong and the US, driven by various company announcements and market trends [1][2][3][5][6][7][8]. Group 2 - 万国数据-SW (09698) saw a rise of over 3.6% following the announcement of a successful C-round financing of $2 billion for its international business platform DayOne [1]. - 智谱 (02513) experienced a surge of over 24% on its second day of trading, becoming the first global large model stock listed on the Hong Kong Stock Exchange [1]. - 禾赛-W (02525) increased by over 3% after showcasing its latest lidar technology at CES 2026, along with updates on delivery volume and strategic partnerships [1]. - Lithium battery concept stocks rose, with 中创新航 (03931) up 4.74%, as the Ministry of Industry and Information Technology announced a meeting to regulate the battery industry [1]. - 快手-W (01024) gained over 2.3% as Goldman Sachs projected that its AI model upgrades would enhance overseas user recognition and revenue [2]. - 佳鑫国际资源 (03858) rose over 5.4% after announcing a mining service procurement agreement worth approximately 2.27 billion HKD [2]. - Gold stocks generally increased, with 山东黄金 (01787) up 6.01%, driven by geopolitical risks and expectations of interest rate cuts supporting gold prices [2]. - 九方智投控股 (09636) rose over 5.6% following the announcement of acquiring JF Financial Company Limited [3]. - 凌雄科技 (02436) surged by over 96.85%, with expectations of significant market penetration in the DaaS sector over the next five years [3]. - 理士国际 (00842) plummeted over 60% after announcing a plan to split and list on the US stock market [3]. - Buda Juice (BUDA.US) debuted on the US market with an 8.13% increase, focusing on fresh juice and health drinks [5]. - 虎牙 (HUYA.US) reached a five-and-a-half-month high, rising 14.47% after the successful launch of a new mobile game [5]. - Applied Digital (APLD.US) led gains in the crypto mining sector with a 250% year-over-year revenue increase [5]. - Critical Metals (CRML.US) saw a near 10% rise but later fell, having gained over 110% in the first five trading days of the year [6]. - 哔哩哔哩 (BILI.US) rose 6.51% as Morgan Stanley noted stable ad performance despite uncertain gaming prospects [6]. - Storage stocks fell, with SanDisk (SNDK.US) down 5.38%, amid concerns over the sustainability of AI-related capital expenditures [6]. - The space sector saw gains, with L3Harris Technologies (LHX.US) up 5.16% after a strategic sale [7]. - Chip stocks declined, with NVIDIA (NVDA.US) down 2.15%, reflecting broader market concerns [7]. - Precious metals stocks fell, with significant drops in silver and gold prices due to liquidity shocks [8].

1月9日，港股黄金股集体上涨，其中，山东黄金涨超6%，招金矿业涨近5%刷新历史新高价，紫金矿业 涨3.6%，赤峰黄金涨2.8%，紫金黄金国际、中国黄金国际、潼关黄金跟涨。 | 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 01787 | 山东黄金 | 39.860 | 6.01% | | 01818 | 招等矿业 | 35.780 | 4.68% | | 02899 | 紫金矿业 | 38.540 | 3.60% | | 06693 | 赤峰黄金 | 29.720 | 2.84% | | 03330 | 灵宝黄金 | 19.300 | 2.01% | | 02259 | 紫金黄金国际 | 149.400 | 1.98% | | 02099 | 中国黄金国际 | 158.800 | 1.15% | | 00340 | 漳关黄金 | 3.170 | 0.63% | 港股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：栎树 消息上，现货黄金重回4470美元/盎司上方。巴克莱银行大幅上调了对一系列金属大宗产品的价格预 测，并指出，供需失衡、美联储降息等因素 ...

今日周五(1月9日)亚盘时段，伦敦金目前交投于1003元/克附近，截至发稿，伦敦金最新报1003.70元/ 克，跌幅0.14%，最高上探至1006.41元/克，最低触及999.48元/克。目前来看，伦敦金短线偏向震荡走 势。 【最新伦敦金行情解析】 摘要今日周五(1月9日)亚盘时段，伦敦金目前交投于1003元/克附近，截至发稿，伦敦金最新报1003.70 元/克，跌幅0.14%，最高上探至1006.41元/克，最低触及999.48元/克。目前来看，伦敦金短线偏向震荡 走势。 【要闻速递】 分析人士认为，美国早已在格陵兰岛拥有广泛军事准入，丹麦更是北约重要盟友，无论获取资源还是控 制航道，都无需通过代价高昂的主权变更来实现。特朗普政府执意推动"夺岛"，更可能意在重塑跨大西 洋关系格局。 上月发布的国家安全战略中，特朗普政府将欧洲定位为意识形态与地缘政治对手，显露对盟友的敌意。 随着美欧裂痕加深，美方越发倾向绕过欧洲盟友，直接掌控战略要地和关键资源。 此举引发欧洲强烈反对。丹麦、法国、德国、意大利、波兰、西班牙、英国等7国领导人，以及北欧5国 外长6日发表联合声明，强调只有丹麦和格陵兰岛有权决定自身事务。欧洲舆论 ...

Group 1 - The Hong Kong stock market saw a collective rise in gold stocks, with Shandong Gold increasing by over 6% [1] - Zhaojin Mining surged nearly 5%, reaching a new historical high price [1] - Zijin Mining rose by 3.6%, while Chifeng Jilong Gold Mining increased by 2.8% [1] Group 2 - Other gold companies such as Zijin Gold International, China Gold International, and Tongguan Gold also experienced gains [1]

Group 1 - The core viewpoint of the news highlights a strong performance in the gold industry, with the China Securities Index for gold stocks rising by 2.07% as of January 9, 2026, driven by significant gains in individual stocks such as Shandong Gold (up 4.57%) and Western Gold (up 4.06%) [1][2] - The U.S. Treasury Secretary has expressed a desire to lower interest rates, which is expected to create approximately one million jobs without triggering inflation, indicating a supportive environment for gold investments [2] - The People's Bank of China reported an increase in gold reserves to 74.15 million ounces (approximately 2,306.323 tons) as of the end of December, marking the 14th consecutive month of gold accumulation, which provides non-speculative demand support for the gold market [2] Group 2 - The current gold market is characterized by a dual benefit environment of "loose policy expectations and rising geopolitical risks," leading to an optimistic long-term outlook for gold prices, with target prices generally ranging from $4,800 to $5,100 per ounce, and some institutions suggesting a potential extreme price of $5,400 per ounce [2] - The gold stock ETF (517520) is noted for its higher elasticity during periods of rising gold prices, making it an attractive option for investors seeking to capture the benefits of gold price increases while maintaining liquidity [2][3] - The Yongying Gold Stock ETF (517520) and its linked funds closely track the China Securities Index for gold stocks, allowing investors to efficiently capture the upside of gold prices and share in the growth of quality gold mining companies while effectively diversifying individual stock risks [3]

摩根士丹利在最新报告中预测，黄金价格将在2026年第四季度升至每盎司4800美元，突破去年创下的历 史纪录。该投行认为，利率下行、美联储领导层更迭，以及各国央行和基金持续买入，将共同推动金价 进一步上涨。 | 代码 | 名称 | 最新价 | 涨跌幅 ▽ | | --- | --- | --- | --- | | 01787 | 山东黄金 | 39.860 | 6.01% | | 01818 | 招金矿业 | 35.780 | 4.68% | | 02899 | 紫美观,亚 | 38.540 | 3.60% | | 06693 | 赤峰黄金 | 29.720 | 2.84% | | 03330 | 灵宝黄金 | 19.300 | 2.01% | | 02259 | 紫金黄金国际 | 149.400 | 1.98% | | 02099 | 中国黄金国际 | 158.800 | 1.15% | | 00340 | 漳关黄金 | 3.170 | 0.63% | 港股黄金股集体上涨，其中，山东黄金涨超6%，招金矿业涨近5%刷新历史新高价，紫金矿业涨3.6%， 赤峰黄金涨2.8%，紫金黄金国际、中国黄金国际、潼关黄金跟涨 ...

Core Viewpoint - The global gold ETF market is experiencing significant growth, with record inflows and trading volumes, driven by factors such as continued central bank purchases and geopolitical risks [1][2] Group 1: Market Performance - As of January 9, 2026, the CSI Hong Kong-Shenzhen Gold Industry Stock Index (931238) rose by 1.21%, with notable increases in constituent stocks such as Laopu Gold (06181) up 3.28%, Western Gold (601069) up 3.13%, and Shandong Gold (01787) up 2.45% [1] - The Gold Stock ETF (159322) also saw a rise of 1.22%, with the latest price at 1.74 yuan [1] Group 2: ETF and Index Insights - The CSI Hong Kong-Shenzhen Gold Industry Stock Index comprises 50 large-cap companies involved in gold mining, refining, and sales, reflecting the overall performance of the gold industry in the mainland and Hong Kong markets [2] - As of December 31, 2025, the top ten weighted stocks in the index accounted for 63.58% of the total index weight, including companies like Zijin Mining (601899) and Shandong Gold (600547) [2] Group 3: Future Outlook - According to Guoxin Securities, the ongoing Federal Reserve rate cut cycle, continuous gold purchases by global central banks for 13 months, and persistent geopolitical risks are expected to support gold prices, which are likely to maintain an upward trend in 2026, albeit with a slower growth rate compared to 2025 [1] - Gold is highlighted as a core asset for risk diversification in investment portfolios, emphasizing its importance in asset allocation strategies [1]

据悉，在周二的会议上，英法签署文件确认未来在乌部署军队的意向。马克龙称可能派遣数千法军，斯 塔默则表示此举为英法等国部队在乌行动(含空海防御、协助重建乌军)奠定法律基础。 俄方警告：西方在乌部署军队、设施等行为将被定性为外国干涉，严重威胁俄欧安全，"所有相关部队 及设施均属俄武装力量合法打击目标"。声明强调，"意愿联盟"与乌当局的军国主义言论已构成"战争轴 心"，其计划不仅危及欧洲大陆未来，更迫使欧洲民众为西方野心买单。 【最新现货黄金行情解析】 摘要今日周五(1月9日)亚盘时段，现货黄金最新报价1000.47元/克，较前一交易日下跌4.83美元，跌幅 0.48%，日内高位盘整。当日开盘价1004.88元/克，最高价1006.56元/克，最低价999.62元/克。 今日周五(1月9日)亚盘时段，现货黄金最新报价1000.47元/克，较前一交易日下跌4.83美元，跌幅 0.48%，日内高位盘整。当日开盘价1004.88元/克，最高价1006.56元/克，最低价999.62元/克。 【要闻速递】 俄罗斯周四强烈回应英法向乌派兵计划，明确任何西方军队入乌都将成为"合法军事打击目标"。俄外交 部声明称，英法官宣的"军 ...