*此图由AI生成 作者| 史大郎&猫哥 来源| 是史大郎&大猫财经Pro 最近很多老板都放话了，要买东西趁早，特别是电脑、汽车，为啥呢？涨价潮要来了。 因为这些产品的上游涨价太凶猛了，像内存，256G 的DDR5去年年初1.5万，现在一条4万块，一箱100 条，可以买上海一套房。 三星和SK海力士是内存大厂，因为他俩的存在，去年直接拉着韩国股市上了天，大涨了75%，咱们也 是牛市，涨了18%，这一比就看出差距了吧。 今天一个社群里还传了这么一个消息，看出压力了吧。 汽车还算好的，电脑价格已经开始涨了，大牌都在涨价，因为内存条价格涨了3倍多。 以前不起眼的东西，现在可以当理财产品了。 很多著名的大银矿全都停产了，比如秘鲁的Uchucchacua矿，去年5月停产，至今未复工，墨西哥Peñoles Tizapa矿罢工8个月，去年底刚复工，但产能只有60%。 1、美元下跌，所有美元计价的产品都要涨价； 2、白银的产量完全跟不上，2025年白银的产量增长了多少呢？0。 贵金属的涨幅也很惊人，这两天，纽约金涨1.22%、白银涨了5.97%、铂涨了1.22%，完全按不住。 这里最猛的，就是白银，去年涨了157%，是黄金的一 ...

北京时间1月7日凌晨，国际贵金属期货普遍收涨，COMEX黄金期货涨1.22%报4505.70美元/盎司，COMEX白银期货涨 5.95%报81.22美元/盎司。分析人士指出，地缘不确定性加剧，叠加全球对美元体系的担忧加速非美元支付布局，以及 美联储降息预期，共同作用下提升贵金属投资吸引力。 桥水基金创始人达利欧在发布的年度复盘中称，2025年最大的投资故事不是美股强劲表现，而是货币价值的剧烈变化 和资产配置的全球性转移，他表示，美国股市高回报很大程度上是法定货币贬值带来的"计价幻觉"，黄金才是真正的 赢家。达利欧同时发出警告，此前推动科技股大涨的人工智能热潮 "目前已步入泡沫初期阶段"。 CBSNEWS则发文称，随着黄金价格接近每盎司4500美元，这种贵重金属已从一个安静的对冲组合转为全球市场最受 关注的资产之一。对于持有黄金多年的投资人来说，这种上涨验证了黄金的持久价值。 报道还提到，黄金的上涨是由持续的通胀忧虑、持续的地缘政治紧张局势以及对远离传统金融体系的资产日益增长的 需求共同推动的。随着对纸币资产信心的起伏，黄金越来越被视为不仅仅是保护，而是一种核心的战略持有。 此外，黄金的历史趋势是独立于股票市场 ...

美国在委内瑞拉采取军事行动并抓捕该国领导人马杜罗后，全球金融市场呈现出显著的分化走势。 投资者迅速涌向贵金属寻求避险，推动黄金和白银价格扭转此前跌势，而原油市场则因全球供应过剩的宏观背景，对这一地缘政治冲击表现出罕见的"淡定"。 据新华社和央视新闻报道，当地时间1月3日中午（北京时间1月4日凌晨），美国总统特朗普、国防部长赫格塞思在佛罗里达州海湖庄园就美军对委内瑞拉动 武、将委内瑞拉总统马杜罗控制并移送出境举行记者会。特朗普表示，美军在行动中使用了空中、陆地和海上力量，委内瑞拉"所有军事力量都已丧失战斗 力"。特朗普称，美国将"管理"委内瑞拉直至实施"安全"过渡。 特朗普表示，他实时观看了美国特种部队抓捕马杜罗的行动，称就像看了一场"电视秀"，看到了"每一个细节"。特朗普还对美国媒体称，美国将深度介入委内瑞 拉的石油产业。 避险情绪升温推高贵金属价格 地缘政治的剧烈动荡直接刺激了投资者的避险神经。在美军行动消息传出后，贵金属市场迅速做出反应。 黄金价格在经历了一周的下跌后强劲反弹，重回4430美元/盎司上方。 | | | 现货白银大涨近5%，暂报76美元左右。 1月5日周一，现货黄金价格持续走高，重回每盎司4 ...

英国富时100指数首次突破10，000点大关，此前该蓝筹股指数创下2009年以来最佳年度表现。 弗雷斯尼洛和Endeavour Mining等贵金属开采股成为去年表现最突出的股票。 汇丰、巴克莱和国民西敏寺银行等金融机构过去12个月亦为指数点数涨幅贡献最大。 以出口型企业为主的富时100指数在2025年飙升22%，表现优于斯托克欧洲600指数和标普500指数。 责任编辑：陈钰嘉 汇丰、巴克莱和国民西敏寺银行等金融机构过去12个月亦为指数点数涨幅贡献最大。 英国富时100指数首次突破10，000点大关，此前该蓝筹股指数创下2009年以来最佳年度表现。 弗雷斯尼洛和Endeavour Mining等贵金属开采股成为去年表现最突出的股票。 以出口型企业为主的富时100指数在2025年飙升22%，表现优于斯托克欧洲600指数和标普500指数。 责任编辑：陈钰嘉 ...

今年贵金属表现亮眼：在央行强劲购金和美元走弱推动下，黄金年内累计飙升67%;市场规模小得多的 白银更是明星，因工业需求凸显供应短缺，全年涨幅接近150%，铜与铂金也双双创下纪录高位。 上周末，埃隆·马斯克在X平台上就银价飙涨发声："这可不妙，许多工业流程都需要白银。" 非营利行业组织白银协会称，近六成白银用于工业领域。白银是所有金属中导电性最佳的材料，也是太 阳能电池板、数据中心服务器主板及电动汽车的关键组成部分。 "它对电子和计算行业至关重要，"白银协会主席兼首席执行官Michael DiRienzo表示，"几乎所有带开关 的东西都会用到它。" DiRienzo指出，全球白银市场已连续第五年出现结构性缺口。10月，白银被列入美国关键矿产清单，引 发市场对其可能面临关税和贸易限制的担忧。 智通财经APP获悉，黄金与白银在触及纪录高位后急挫，贵金属的抛物线式涨势戛然而止。周一，黄金 期货收跌4.5%，报每金衡盎司略高于4,340美元;白银期货在盘中短暂触及每盎司80美元后大跌8.7%，创 2021年以来最大单日跌幅。 芝加哥商业交易所(CME)上调白银期货保证金要求后，交易员在周一开盘前普遍陷入紧张状态——其持 ...

Group 1: Investment Rating - No investment rating provided in the report Group 2: Core Viewpoints - On December 29, all four major stock index futures contracts for the current month declined. IF dropped by 0.5%, IH by 0.41%, IC by 0.46%, and IM by 0.32% [1] - On this trading day, the total trading volume of stock index futures decreased, indicating a cooling of investors' trading enthusiasm. Specifically, the total trading volume of IF decreased by 22,687 lots, IH by 11,586 lots, IC by 36,757 lots, and IM by 53,242 lots. In terms of positions, the total positions of IF decreased by 12,050 lots, IH by 5,602 lots, IC by 17,385 lots, and IM by 19,963 lots [2] - The trend intensity of IF and IH is 1, and that of IC and IM is also 1 [6] Group 3: Summary by Relevant Catalogs 1. Stock Index Futures Data Tracking - **CSI 300 and Related Futures**: The closing price of CSI 300 is 4,639.4, down 0.38%. The closing prices of IF2601, IF2602, IF2603, and IF2606 are 4,630.8, 4,620.8, 4,610.2, and 4,567.4 respectively, with declines of 0.50%, 0.43%, 0.56%, and 0.47%. Their trading volumes decreased by 6,620, 289, 12,369, and 3,409 respectively, and their positions decreased by 3,726, increased by 261, decreased by 8,066, and decreased by 519 respectively [1] - **SSE 50 and Related Futures**: The closing price of SSE 50 is 3,034.6, down 0.35%. The closing prices of IH2601, IH2602, IH2603, and IH2606 are 3,036, 3,036.8, 3,038, and 3,033.2 respectively, with declines of 0.41%, 0.36%, 0.48%, and 0.39%. Their trading volumes decreased by 2,169, 66, 7,117, and 2,234 respectively, and their positions decreased by 2,404, decreased by 110, decreased by 2,558, and decreased by 530 respectively [1] - **CSI 500 and Related Futures**: The closing price of CSI 500 is 7,430.6, down 0.38%. The closing prices of IC2601, IC2602, IC2603, and IC2606 are 7,421.6, 7,379, 7,336.6, and 7,157.6 respectively, with declines of 0.46%, 0.51%, 0.67%, and 0.76%. Their trading volumes decreased by 10,673, increased by 763, decreased by 20,731, and decreased by 6,116 respectively, and their positions decreased by 6,224, increased by 1,008, decreased by 10,791, and decreased by 1,378 respectively [1] - **CSI 1000 and Related Futures**: The closing price of CSI 1000 is 7,594.2, down 0.15%. The closing prices of IM2601, IM2602, IM2603, and IM2606 are 7,572.2, 7,500.2, 7,439, and 7,206 respectively, with declines of 0.32%, 0.48%, 0.51%, and 0.59%. Their trading volumes decreased by 15,720, increased by 639, decreased by 29,817, and decreased by 8,344 respectively, and their positions decreased by 7,157, increased by 4,723, decreased by 12,285, and decreased by 975 respectively [1] 2. Top 20 Member Positions in Stock Index Futures - For IF2601, long positions decreased by 2,419, and short positions decreased by 2,639. For IF2602, long positions decreased by 9,611. For IF2603, long positions decreased by 6,158, and short positions decreased by 6,771. For IF2606, long positions decreased by 1,034, and short positions decreased by 742 [5] - For IH2601, long positions decreased by 1,714 with a net change of -4,414, and short positions decreased by 1,956 with a net change of -4,742. For IH2603, long positions decreased by 2,168, and short positions decreased by 2,270. For IH2606, long positions decreased by 532, and short positions decreased by 516 [5] - For IC2601, long positions decreased by 4,226, and short positions decreased by 5,047. For IC2603, long positions decreased by 7,318 with a net change of -13,116, and short positions decreased by 8,625 with a net change of -14,790. For IC2606, long positions decreased by 1,572 [5] - For IM2601, long positions decreased by 5,380 with a net change of -13,183, and short positions decreased by 6,072. For IM2602, long positions increased by 83, and short positions increased by 747 with a net change of -15,394. For IM2603, long positions decreased by 7,886, and short positions decreased by 10,069 [5] 3. Market Conditions - **Precious Metals Market**: On Monday, the spot silver price in the Asian market hit a record high of over $80 per ounce and approached $84, with a nearly 6% increase. However, the market then reversed sharply, and in the New York market, it dropped by over 11%. The decline in silver also dragged down other precious metals, with spot palladium dropping by 17%, spot platinum by 15%, and spot gold by over 5%. In the domestic market, platinum and palladium hit the daily limit down, and the Shanghai silver futures price dropped at the end of the session, erasing all the 10% intraday gains and further dropping by 8.74% at night. The Shanghai gold futures price closed down nearly 1% and further dropped by 4% at night. COMEX gold futures closed down 4.45% at $4,350.2 per ounce, and COMEX silver futures closed down 7.2% at $71.64 per ounce [6] - **A - Share Market**: The A - share market showed a divergence between large and small - cap indices. The Shanghai Composite Index recorded nine consecutive positive days, while the ChiNext Index declined. The commercial aerospace and humanoid robot sectors performed well. The Shanghai Composite Index closed up 0.04% at 3,965.28 points, the Shenzhen Component Index down 0.49%, the ChiNext Index down 0.66%, the Northbound 50 down 0.45%, the STAR 50 up 0.04%, the Wind All - A down 0.29%, the Wind A500 down 0.46%, and the CSI A500 down 0.48%. The total A - share trading volume was 2.16 trillion yuan, compared with 2.18 trillion yuan the previous day. The carbon fiber concept rose as Toray Industries announced a price increase for carbon fiber products. The brain - computer interface concept was active, the commercial aerospace concept remained strong, the humanoid robot concept continued to heat up, and the stablecoin index rose in the afternoon. The lithium - battery industrial chain adjusted significantly, and the Hainan Free Trade Zone concept declined [6] - **Hong Kong Stock Market**: The Hong Kong stock market rose first and then fell. The Hang Seng Index closed down 0.71% at 25,635.23 points, the Hang Seng Tech Index down 0.30% at 5,483.01 points, and the Hang Seng China Enterprises Index down 0.26% at 8,891.71 points. The market trading volume was HK$224.508 billion. Among the Hang Seng Index constituents, JD Health fell 3.42%, Cheung Kong Holdings fell 3.35%, BYD Co., Ltd. rose 3.74%, and Geely Automobile rose 3.43%. Among the Hang Seng Tech Index constituents, Horizon Robotics - W fell 3.20%, Midea Group fell 3.05%, NIO - SW rose 4.89%, and XPeng Motors - W rose 3.88% [7] - **US Stock Market**: The three major US stock indices closed down. The Dow Jones Industrial Average fell 0.51% to 48,461.93 points, the S&P 500 Index fell 0.35% to 6,905.74 points, and the Nasdaq Composite fell 0.5% to 23,474.35 points. Goldman Sachs Group and American Express fell by over 1%, leading the decline in the Dow. Profit - taking put pressure on AI - related stocks. The Wind US Tech Giants Index fell 0.6%, Tesla fell by over 3%, and NVIDIA fell by over 1%. Most Chinese concept stocks declined, with Dingdong Maicai falling by over 7% and Hecla Mining falling by nearly 7% [7] 4. Automobile Market - Cui Dongshu, the secretary - general of the Passenger Car Association, said that the growth of the auto market in 2026 is complex. The most important factor at the beginning of the year is the late Spring Festival, and this year, combined with the early implementation of national subsidies, the effect will be significant. It should achieve positive growth in January, but there will be more pressure in February [8]

由于近期贵金属和工业金属期货价格快速上涨，大幅波动风险加剧，美国芝商所集团宣布全线上调包括 金、银、钯金、锂等在内的金属期货交易保证金。新规将于当地时间本周一收盘后生效，其中，黄金期 货保证金上调10%，白银期货上调约13.6%，铂金上调约23%。 大幅上调保证金将显著提升市场投机交易成本，部分投资者赶在新规生效前获利了结，引发国际金属期 货价格在12月29日出现多轮下跌。当天亚洲交易尾盘时段，国际贵金属价格跌幅再度扩大，国际金价跌 破每盎司4500美元整数关口。 上世纪80年代左右，美国亨特兄弟试图通过囤积垄断白银市场，导致芝商所推出了"白银规则7"， 大幅提高了保证金要求，导致银价在短短两个月内从逼近每盎司50美元暴跌至了10美元左右。 另外，2011年银价飙升期间，芝商所也曾在九天内五次上调白银保证金要求，迫使高杠杆的资金 退出期货市场，白银价格在数周内大跌近30%。 最后，金银比也是部分投资者在关注的指标，近期金银比已经跌至55至60区间，金银比下降，意味着白 银相对黄金更"贵"，更容易出现回撤。但对此市场上有不同的看法，知名白银分析师彼得·克劳斯认 为，金银比有可能会跌至15，而银价有望冲击每盎司3 ...

来源：央视财经 由于近期贵金属和工业金属期货价格快速上涨，大幅波动风险加剧，美国芝商所集团宣布全线上调包括 金、银、钯金、锂等在内的金属期货交易保证金。新规将于当地时间本周一收盘后生效，其中，黄金期 货保证金上调10%，白银期货上调约13.6%，铂金上调约23%。 大幅上调保证金将显著提升市场投机交易成本，部分投资者赶在新规生效前获利了结，引发国际金属期 货价格在29日出现多轮下跌。当天亚洲交易尾盘时段，国际贵金属价格跌幅再度扩大，国际金价跌破每 盎司4500美元整数关口。 分析人士： 芝商所上调保证金曾导致银价大跌 分析人士指出，CME提高保证金的操作让人们回想到了历史上的相似情形。 上世纪80年代左右，美国亨特兄弟试图通过囤积垄断白银市场，导致芝商所推出了"白银规则7"，大幅 提高了保证金要求，导致银价在短短两个月内从逼近每盎司50美元暴跌至了10美元左右。 截至北京时间29日15时35分， 纽商所明年2月交割的黄金期价报每盎司4497.9美元，跌幅为1.20%； 3月交割的白银期价报每盎司75.930美元，跌幅为1.65%； 1月交割的铂金期价报每盎司2323.6美元，跌幅为5.98%； 3月交割的钯金 ...

随着白银价格不断攀升，目前该贵金属市值已超越苹果，晋升为全球第三大资产，仅低于黄金和英伟 达。 今年以来，白银价格出现了史诗级暴涨，截至目前已经累计上涨近180%。银价快速上涨受到供应紧 张、被美国列为关键矿产、工业需求强劲、地缘政治紧张局势提振避险需求、美联储降息预期推动贵金 属上涨，以及流动性低放大波动性等多重因素的驱动。 眼下，白银市场已进入"高波动模式"，一方面供应短缺支撑价格，另一方面投机情绪放大风险。 市场专家认为，白银的全球市值排名可能会进一步提升。有行业人士表示，如果目前的上涨势头持续下 去，白银很可能会超越英伟达，成为全球第二大资产。 就在白银价格上演过山车行情之际，分析师对银价的看法出现了两级分化。以华尔街著名经济学家彼得 ·希夫为代表的乐观派认为，银价明年有望冲破100美元。而悲观派则警告称，贵金属价格已站在"悬崖 边缘"，回调风险正在累积。 分析认为，白银周一从高位回落的原因之一是，交易员从供需结构性失衡推动的创纪录涨势中获利了 结。 根据市值数据平台CompaniesMarketCap的数据，目前白银市值为4.485万亿美元；黄金以31.719万亿美 元的市值位居榜首，芯片巨头英伟达 ...

Group 1 - The core viewpoint of the articles highlights a significant surge in silver prices, with spot silver reaching $82.36 per ounce, marking a daily increase of 3.81%, and a peak of $83.99 per ounce during the trading session [1] - COMEX silver futures also showed strong performance, trading at $82.400 per ounce with a daily increase of 6.74% [2] - Analysts indicate that the demand for silver from both investors and industrial sectors has reached unprecedented levels, with substantial accumulation in both physical and financial asset forms to preserve wealth and hedge against currency depreciation [3] Group 2 - The demand for silver in the physical economy is experiencing explosive growth, particularly from jewelry makers, medical device manufacturers, electric vehicle producers, data center builders, and notably, solar panel manufacturers, which consume nearly 30% of the global annual silver production from mining and recycling [3] - On the supply side, there is little potential for large-scale new production in the short term, as global primary silver deposits are nearly exhausted, and current silver output is primarily a byproduct of mining copper, gold, and zinc [3] - Changes in silver supply are often influenced by the demand for other metals rather than fluctuations in silver prices itself, as noted by the CEO of Sprott Asset Management [3]