截至发稿，现货黄金上涨0.85%，报每盎司4517.63美元，此前一度触及每盎司4531.24美元的纪录高点;2月交割的纽 约黄金期货上涨0.97%，报每盎司4546.5美元。 OANDA高级市场分析师Kelvin Wong表示："自12月初以来，由动能驱动和投机性交易者推动了金银价格的上涨。年 末流动性稀薄、市场预期美国将维持较长时间降息周期、美元走软以及地缘政治风险再度升级，这些因素共同作 用，将贵金属价格推至新的历史高位。" "展望2026年上半年，黄金可能向每盎司5000美元迈进，而白银则有潜力触及每盎司90美元左右。" 现货白银上涨4.16%，报每盎司74.8705美元，此次一度突破75美元大关。 今年以来，受美联储政策转向宽松、地缘政治不确定性、央行强劲购金需求、ETF持仓增加以及去美元化进程持续 推动，黄金表现强劲，录得自1979年以来最大年度涨幅。白银年内飙升158%，远超黄金近72%的涨幅，这得益于结 构性供需缺口、被列为美国关键矿物以及强劲的工业需求。 智通财经APP获悉，受投机买盘推动、年末市场流动性收紧，叠加市场预期美联储将进一步降息及地缘政治紧张局 势加剧，黄金、白银和铂金价格于周五 ...

12月24日，全球贵金属市场迎来集体狂欢。 伦敦现货黄金价格盘中突破每盎司4500美元，刷新历史纪录。 纽约白银期货以及伦敦现货白银价格均升破每盎司72美元关口，年内涨幅远超黄金。 现货铂金历史上首次突破2300美元/盎司，年内累涨超150%，为1987年开始汇编相关数据以来的最大年 度涨幅。 世界黄金协会数据显示，各国央行的持续大量买入为此轮黄金牛市提供了坚实基础。与此同时，资金正 源源不断地流入黄金ETF，今年除5月外，全球黄金ETF的总持仓量每个月都在上升。 其中，全球最大的贵金属ETF——道富集团旗下的SPDR Gold Trust，其持仓量今年已增长超过五分之 一。 Muthoot Fincorp的首席经济学家指出，近几个月流入黄金ETF的资金主要来自散户投资者，其资金黏性 较低，这可能意味着金价的波动性仍将维持在较高水平。 对于未来走势，高盛集团预测，金价在2026年的基准情景下将达到每盎司4900美元。 伦敦铜价突破每吨12159.50美元，创历史新高。 尽管不同品类具体上涨逻辑各有差异，但有分析人士指出，本次贵金属集体且远超预期的普涨，是流动 性宽松预期、地缘风险不稳、产业供需结构性矛盾等多重 ...

贵金属还在加速狂飙。 在地缘政治风险影响、全球供应持续短缺以及强劲投资需求的共同推动下，黄金、白银和铂金价格再一次冲上历史新高。 现货黄金价格有史以来首次突破每盎司4500美元，今年以来已累计上涨超过三分之二，有望创下自1979年以来的最佳年度表现。 铂金价格也飙升至每盎司2300美元上方的历史最高点。这一金属价格已连续10个交易日上涨，创下2017年以来最长连涨纪录，今年以来的累计涨 幅更是超过150%，有望创下彭博自1987年有数据记录以来的最佳年度表现。 现货白银同样涨势如虹，突破70美元关口后，涨势仍在强势延续。 而这轮波澜壮阔的涨势正迅速传导至全球市场。国内商品期货市场开盘后，铂期货主力合约触及涨停，沪银、钯金期货涨幅均超过6%。 | 名称 | 现价 | 涨跌 | 涨跌幅 ▼ | 日增仓 | | --- | --- | --- | --- | --- | | 辑2606 | 657.65 | 43.00 | 7.00% | +591 | | 沖縄2602 | 17357 | 1070 | 6.57% | +20254 | | £2606 | 574.55 | 33.90 | 6.27% | +251 ...

周四公布的数据显示，美国核心消费者价格指数(CPI)同比涨幅降至2021年初以来最低水平，这进一步 强化了市场对降息的预期。对于不产生利息的贵金属而言，借贷成本下降无疑是一大利好因素。 不过，上月才结束的创纪录六周政府停摆，使这份最新通胀报告的参考价值大打折扣。美联储上周完成 年内第三次连续降息后，对未来货币宽松节奏的表态始终模棱两可。交易员目前预计，美联储在明年1 月降息的概率约为25%，而美国总统特朗普则呼吁在明年大幅下调利率。 地缘政治紧张局势同样提升了黄金的避险吸引力。本周，委内瑞拉局势持续升级，特朗普政府下令对所 有受制裁油轮实施封锁，同时加大在该地区的军事部署，向委内瑞拉政府施压，进一步支撑金价走高。 贵金属板块今年迎来暴涨行情，黄金、白银均有望创下1979年以来最佳年度表现。在各大央行持续大举 购金，以及黄金ETF资金流入的双重支撑下，白银价格年内涨幅已超一倍，黄金涨幅也达到约三分之 二。 数据显示，现货黄金价格徘徊在每盎司4325美元左右，周涨幅达0.6%，有望实现连续第二周上涨，黄 金曾在10月触及每盎司4381美元的历史高点。白银价格报每盎司64.99美元，接近本周三创下的每盎司 66.8 ...

Group 1 - Precious metals, including gold, silver, platinum, and palladium, are experiencing strong upward momentum, with silver prices surpassing $65 per ounce for the first time, reaching a high of $65.63 per ounce, marking a nearly 3.00% increase in a single day [1] - Platinum and palladium contracts also saw significant gains, with platinum rising by 4.00% to 512.80 yuan per gram and palladium increasing by 5.00% to 448.6 yuan per gram [1] - The gold-silver ratio has decreased to around 67.3, while the price spread between platinum and palladium has widened to approximately $240 per ounce [1] Group 2 - The current price surge in silver is supported by both supply and demand factors, with the global silver market experiencing structural shortages for the fifth consecutive year due to limited mining output and increasing demand from renewable energy and electronics sectors [2] - Expectations of loose global monetary policy and declining real yields are reducing the opportunity cost of holding non-yielding assets, attracting institutional investors seeking asset diversification and inflation hedging, creating a rare resonance between industrial and investment demand [2] - Recent U.S. labor data indicates a mixed employment situation, with non-farm payrolls increasing by 64,000 in November, surpassing expectations, but the unemployment rate unexpectedly rose to 4.6%, the highest since September 2021, indicating a relatively weak trend in the labor market [2] Group 3 - The largest gold ETF, SPDR Gold Trust, maintained its holdings at 1,051.69 tons, while the largest silver ETF, iShares Silver Trust, saw a decrease of 42.31 tons in holdings, bringing the current total to 16,018.29 tons [3]

Core Viewpoint - The recent rise in silver prices is primarily driven by the rebound in gold prices, rather than fundamental factors specific to silver [1][2] Group 1: Market Dynamics - Spot gold rebounded nearly 2% after hitting a three-week low of $3886.46, driven by bargain buying, short covering, and expectations of central banks re-entering the market [1][2] - Traders increased long positions in gold as prices significantly corrected, pushing gold towards the critical $4000 mark [1][2] - Silver prices rose above $48.00 per ounce, with platinum demand also increasing by 1%, indicating a general uptick in the precious metals sector [1] Group 2: Federal Reserve Impact - Traders are adjusting positions ahead of the Federal Reserve's interest rate decision, with a 25 basis point rate cut largely priced in [2] - The market's direction will be influenced by Fed Chair Powell's press conference, particularly if he hints at reducing the scale of quantitative tightening (QT) or adopts a more dovish tone [2] - Both Bank of America and Deutsche Bank suggest that the Fed may end QT this month, which would bolster demand for non-yielding assets like gold and silver [2] Group 3: Technical Analysis - For spot gold, the recent 25 basis point rate cut did not lead to a significant price increase, indicating that many long positions were liquidated [3] - The current outlook for gold remains bearish unless it breaks above the mid-band resistance level [3] - Spot silver has potential upward movement towards the resistance level of $51.07, with a subsequent target of $54.49 if this level is breached [4]