智通财经APP获悉，黄金股继续回落，截至发稿，灵宝黄金(03330)跌5.51%，报15.79港元；中国白银集 团(00815)跌4.9%，报0.485港元；赤峰黄金(06693)跌3.96%，报29.62港元；紫金矿业(02899)跌2.79%， 报28.56港元。 消息面上，Comex黄金期货突破3700美元大关，再创历史新高。摩根大通预计现货金价将在2026年第一 季度突破4000美元/盎司大关。同时，若美联储独立性受到冲击，投资者的资金轮动可能在两个季度内 将金价推至5000美元高位。摩根大通认为，金价最大的风险在于央行购金需求出现远超预期的锐减，该 行指出，如果价格过高导致央行需求大幅回落，可能会对涨势的可持续性构成挑战。 国泰海通证券表示，美国8月CPI基本符合预期，叠加就业市场走弱逐渐明显，降息预期持续升温。流 动性拐点预期下，对贵金属和工业金属价格均有明显提振。临近9月议息，静待美联储对后续降息路径 指引，同时中美谈判博弈继续，或放大金属价格波动。 ...

Geopolitical Tensions and Market Impact - The Israeli airstrike on Hamas in Qatar has escalated geopolitical tensions, surprising the U.S. and potentially undermining normalization efforts with Gulf Arab nations [1] - The airstrike may have ended Qatar's role as a mediator in ceasefire negotiations, with other countries like Turkey being put on high alert [1] - Poland's downing of Russian drones has led to heightened tensions, with Poland seeking NATO consultations, which could draw NATO into direct conflict with Russia [3] Precious Metals Market Dynamics - Comex gold futures reached a record high of $3,715.20 per ounce, while silver hit a 14-year high of $42.355 per ounce, driven by geopolitical instability [4] - Increased instability in the Middle East is expected to drive safe-haven demand for precious metals [5] - Major central banks are leaning towards easier monetary policies, with the U.S. jobs growth numbers revised down by 911,000, potentially affecting consumer confidence [6][7] Strategic Mineral Stockpiling - Countries are rushing to stockpile key minerals, with China leading in strategic mineral dominance, prompting other nations to follow suit [10] - The U.S. has initiatives to invest in domestic rare earth mining and processing to reduce dependence on China, while the EU has established a strategic stockpiling program [11] - The trend of stockpiling strategic minerals is likely to continue, positioning both the U.S. and China as major competitors in the rare-earth minerals market, which is bullish for precious metals [12]