截至2月4日早间10时27分，伦敦现货黄金价格重上5000美元关口，报5060.77美元/盎司，将年内涨幅推高至17% 文｜《财经》记者 唐郡 研究员 顾欣宇 编辑 | 张威 历史性下跌后，国际金价重回5000美元关口。 2月3日以来，国际金价连续反弹。Wind（万得）数据显示，截至2月4日早间10时27分，伦敦现货黄金价格重上5000美元关口，报5060.77美元/盎司，将年 内涨幅推高至17%。 在此之前，国际金价连续三个交易日大跌。1月31日凌晨，伦敦现货黄金盘中跌幅一度扩至12%，触及 4682美元/盎司，经历了40多年以来最剧烈的单日跌 幅。 金价跌宕起伏，线下商场黄金柜台人气不减，银行实物金条屡告缺货。 2月3日上午9时25分，北京的气温尚未回到零度以上。寒风中，位于北京市西城区的菜市口百货公司门口已聚集了数十位等待进店的投资者。 时针指向9时30分，随着大门拉开，人群鱼贯而入，多数径直奔向四楼的投资黄金柜台。狭长的手扶梯上挤满了熙熙攘攘的人群。工作人员高声提示，"贴 一边走！慢一点，前头有老人！" 前述投资者正是为了前来购买黄金以及回收黄金。 （投资者在菜百首饰商场投资金条柜台前观看实时金价。摄 ...

Core Viewpoint - The emergence of "investment copper bars" in Shenzhen's Shui Bei market has raised concerns about their actual investment value, with many merchants indicating that these products are overpriced and lack genuine investment attributes [1][2][5]. Group 1: Market Dynamics - "Investment copper bars" have gained popularity due to rising consumer interest in precious metals and a significant increase in copper prices [7][8]. - The price of these copper bars ranges from 180 to 288 yuan for a 1000g bar, but many merchants express skepticism about their investment potential [2][5]. - Despite a ban on their sale, some merchants continue to offer "investment copper bars," indicating a disconnect between market regulations and actual sales practices [2][5]. Group 2: Investment Risks - Experts warn that investing in physical copper bars carries substantial risks, as they may only be resold as scrap metal unless a subsequent buyer is found [9]. - The value of copper bars is subject to significant depreciation due to oxidation and lack of a robust recovery system compared to gold and silver [6][9]. - It is suggested that individual investors should consider more liquid and standardized investment options, such as gold ETFs, rather than engaging in speculative activities with copper bars [10].

Core Viewpoint - The emergence of "investment copper bars" in Shenzhen's Shui Bei market has raised concerns about their actual investment value, with many merchants indicating that these products are overpriced and lack genuine investment attributes [3][4][9]. Group 1: Market Dynamics - "Investment copper bars" have gained popularity due to rising consumer interest in precious metals and a significant increase in international copper prices [9][10]. - The price of copper has surged recently, with LME copper rising 11.69% in December 2025 and over 3% since early January, reaching a peak of 13,407.0 USD/ton [10]. - The increase in copper prices is attributed to various factors, including tight global copper supply, trade flow restructuring due to U.S. tariffs, and rising demand from artificial intelligence and new energy infrastructure [10]. Group 2: Product Characteristics and Risks - Merchants in Shui Bei have expressed skepticism about the investment potential of "investment copper bars," stating that they are often sold at inflated prices and can only be recycled at a loss [8][11]. - Unlike gold and silver, which have established recycling systems, copper is primarily treated as scrap, leading to significant value loss if not properly managed [8][11]. - Experts warn that investing in physical copper bars carries substantial risks, as they may only be resold as scrap unless a subsequent buyer is found, likening it to previous speculative bubbles in commodities [11][12].