[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio230586b3":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio230586b3","贵金属板块齐涨，黄金价格刷新历史新高","\u002Fdoc\u002Fdcio230586b3","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\u003Cp>一场横跨贵金属与工业金属的集体上涨，正在全球市场上演。\u003C\u002Fp>\u003Cp>在全球地缘风险急剧升温、美联储降息预期重新定价的背景下，金属资产成为资金最集中的去向之一。周一，黄金、白银双双刷新历史纪录，铜价同步创出新高，铂钯等贵金属全面走强，市场罕见地出现“全金属共振”行情。\u003C\u002Fp>\u003Cp>早间突破2000美元大关后，现货铂金继续狂飙，日内上涨逾5%，报2085.95美元\u002F盎司。纽约铂金涨逾5%，目前已突破2100美元\u002F盎司。\u003C\u002Fp>\u003Cp>现货钯金盘中一度暴涨逾5%，创近三年新高，涨幅目前收窄。纽约钯金现涨3.7%，报1854美元\u002F盎司。\u003C\u002Fp>\u003Cp>与此同时，现货黄金日内涨幅达2.0%，报4425.49美元\u002F盎司。\u003C\u002Fp>\u003Cp>白银同样刷新历史新高，向70美元大关冲刺。\u003C\u002Fp>\u003Cp>金银领跑：刷新历史，奔向40多年最佳年度表现\u003C\u002Fp>\u003Cp>黄金成为本轮行情中最耀眼的明星。\u003C\u002Fp>\u003Cp>现货金价突破每盎司4380美元的历史高位，年内累计涨幅接近70%，正迈向自1979年以来最强年度表现。白银同样不遑多让，盘中涨幅超过3%，价格逼近70美元关口，走势明显强于黄金。\u003C\u002Fp>\u003Cp>推动金银价格再创新高的核心力量，来自利率预期与避险需求的叠加。\u003C\u002Fp>\u003Cp>交易员目前押注，美联储在2026年仍将至少两次降息，而美国总统特朗普对“更宽松货币政策”的公开表态，也强化了市场对低利率环境延续的想象空间。对不产生利息的贵金属而言，真实利率下行本身就是最直接的利多。\u003C\u002Fp>\u003Cp>与此同时，地缘政治风险持续升温。美国强化对委内瑞拉的石油封锁，乌克兰首次在地中海袭击俄罗斯“影子舰队”油轮，能源与航运风险外溢，使黄金和白银的避险属性再度被激活。\u003C\u002Fp>\u003Cp>“去货币化交易”回归，央行与ETF双线买入\u003C\u002Fp>\u003Cp>不同于以往短线避险行情，今年金价的上涨更像一场结构性资金迁移。\u003C\u002Fp>\u003Cp>今年以来，全球央行持续大规模增持黄金，叠加黄金ETF资金连续多周净流入，实物金供给的紧张程度明显上升。世界黄金协会数据显示，除5月外，黄金ETF持仓今年几乎月月增长。\u003C\u002Fp>\u003Cp>另一方面，在特朗普重塑全球贸易秩序、并频繁触及美联储独立性边界的背景下，市场对主权债务膨胀、货币购买力被“稀释”的担忧卷土重来。“去货币化交易”（debasement trade）重新成为主线，资金从债券和法币资产中撤离，流向黄金等硬资产。\u003C\u002Fp>\u003Cp>在这种背景下，投资者并非简单“逃离风险”，而是选择通过配置黄金等硬资产，在保持投资敞口的同时，对冲宏观不确定性。这也是为什么风险情绪的表达，更多出现在商品市场，而非股债市场。\u003C\u002Fp>\u003Cp>据美股投资网此前文章，高盛已将2026年黄金基准情景上调至4900美元\u002F盎司，并警告ETF投资者正在与央行“争夺有限的实物供应”。\u003C\u002Fp>\u003Cp>不只是贵金属：铂钯暴涨，工业金属同样发力\u003C\u002Fp>\u003Cp>这轮上涨并非黄金一枝独秀。\u003C\u002Fp>\u003Cp>钯金盘中一度暴涨逾5%，创近三年新高；铂金连续第八个交易日上涨，价格站上2000美元，为2008年以来首次。今年以来，铂金累计涨幅已超过130%。\u003C\u002Fp>\u003Cp>市场结构性紧张正在推升价格。为规避潜在关税风险，更多铂族金属被转移至美国仓库；与此同时，亚洲需求明显回暖，广州期货交易所相关合约交易活跃，叠加伦敦市场流动性收紧，放大了短期涨幅。\u003C\u002Fp>\u003Cp>白银方面，10月历史性“逼空”事件后，全球多个交易枢纽仍存在供应错配，本月上海期货市场白银成交量一度飙升至逼空时期的水平附近，投机资金重新回流。\u003C\u002Fp>\u003Cp>而作为全球经济“晴雨表”的铜，周一价格一度逼近每吨1.2万美元，刷新历史新高。自去年10月以来，铜价已多次改写纪录，背后是供给扰动、库存紧张与政策预期的叠加。\u003C\u002Fp>\u003Cp>在关税风险的驱动下，大量铜被提前运往美国，导致其他地区库存持续下降；市场同时担忧，若未来美国进一步提高进口壁垒，全球铜供应链将面临更大扭曲。这种“抢运+囤积”行为，正在将政策不确定性直接映射到价格之中。\u003C\u002Fp>\u003Cp>从避险到趋势：金属行情还能走多远？\u003C\u002Fp>\u003Cp>从短期看，年底流动性偏薄放大了价格波动，市场正围绕降息预期提前布局；从中长期看，央行购金、地缘政治对冲、以及新资金来源（如稳定币发行方、企业财务部门配置黄金）正在构建更坚实的需求底座。\u003C\u002Fp>\u003Cp>Pepperstone指出，美联储政策与实际利率仍将主导周期波动，但在更长维度上，金属市场的“锚”已经发生改变。\u003C\u002Fp>\u003Cp>当避险需求、货币逻辑与供给约束同时指向同一个方向，这场横跨贵金属与工业金属的“金属狂欢”，显然还不只是情绪行情那么简单。\u003C\u002Fp>\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202512-stk\u002FUploaderhdpcoq4arh1_2025_12_23_10_12_47.jpg","2025-12-23T18:10:14.043","2025.12.23","2025\u002F12\u002F23",38602,[22],"贵金","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]