[{"data":1,"prerenderedAt":150},["ShallowReactive",2],{"story-9703-cn":3},{"id":4,"slug":5,"slugs":5,"currentSlug":5,"title":6,"subtitle":7,"coverImagesSmall":8,"coverImages":9,"content":29,"questions":30,"relatedArticles":43,"body_color":148,"card_color":149},"9703",null,"贵金属飙升：5万亿美元的全球对冲，应对经济不确定性","前所未有的反弹预示着全球投资策略对交易员和央行的重大转变",[],[10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28],"https://media.cnn.com/api/v1/images/stellar/prod/gettyimages-2210132895.jpg?c=original&q=w_860,c_fill","https://s.tradingview.com/static/images/illustrations/news-story.jpg","https://www.thetimes.com/imageserver/image/%2Fb3eab261-50ae-420e-ab33-742ade6fbdea.jpg?crop=4606%2C2591%2C0%2C240&resize=1200","https://static.toiimg.com/thumb/msid-126185309,width-1280,height-720,resizemode-4/126185309.jpg","https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1SXKhg.img?w=768&h=512&m=6","https://img-s-msn-com.akamaized.net/tenant/amp/entityid/AA1T4jb2.img?w=768&h=512&m=6","https://responsive.fxempire.com/v7/_fxempire_/2025/12/Neutral-Gold-3.jpg?width=1201","https://moneyandbanking.co.th/wp-content/uploads/2025/12/asia-18.webp","https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20251226/0-25800580b7b6092731ac886f5ae7c3aa-0-02648fd5bb6bb33c92f64c05a6ce7dc9.png/big","https://storage.googleapis.com/web-content.oanda.com/images/Silver_1920x1080-1.original.jpg","https://static.toiimg.com/thumb/msid-126183911,width-1280,height-720,resizemode-4/126183911.jpg","https://images.mktw.net/im-54976130?width=1260&height=708","https://images.ft.com/v3/image/raw/https%3A%2F%2Fd1e00ek4ebabms.cloudfront.net%2Fproduction%2F27575155-c06c-458a-931f-d11add322776.jpg?source=next-article&fit=scale-down&quality=highest&width=700&dpr=1","https://static.seekingalpha.com/cdn/s3/uploads/getty_images/2187254257/image_2187254257.jpg?io=getty-c-w1280","https://uploads.panewslab.com/2025z/0a3ac7e8-29da-4291-875e-175b876fa86b","https://image.cnbcfm.com/api/v1/image/107385958-1710210089452-gettyimages-1868370670-THAILAND_GOLD.jpeg?v=1766725458&w=1600&h=900","https://newsfile.futunn.com/public/NN-PersistNewsContentImage/7781/20251226/0-c08cfe9d5d07bfdea3a1f25509341c93-0-a464c90aa4e0d8df813d085e4fe945c8.png/big","https://www.ebc.com/ebc-static/image/forex/info/m%20en%202.gif","https://bostonglobe-prod.cdn.arcpublishing.com/resizer/v2/B4UKOLREBB34J2AHHDB6D4LPC4.jpg?auth=c9feafcd23597fbc6d7e778dc3e830ce29f7d33281c7944eacc7c72a2b780b45&width=1440","全球贵金属市场爆发了历史性的变革，标志着远不止一场典型的商品反弹。2025年，我们正在见证由前所未有的市场动态驱动的**系统性金融调整**，这挑战了传统的投资范式。\n\n**贵金属已成为终极的经济对冲工具**，白银一年内飙升了惊人的158%，而黄金也上涨了近72%。这不仅仅是价格上涨——这是对全球经济不确定性的一种深刻声明。来自瑞银的Joni Teves等策略师将这一走势描述为“失控”，突显了市场动荡但具有战略意义的本质。\n\n这次反弹受到多个关键驱动因素的支持：**地缘政治紧张局势**，潜在的美联储政策转变，以及全球对传统美元计价资产日益增长的怀疑。各国央行，尤其是中国，正在战略性地使其储备多元化，远离传统的货币储备，将贵金属视为关键的金融工具，而不仅仅是一种商品。\n\n对于全球交易者和投资者来说，这代表着一个**多维度的机会格局**。金属市场不仅仅经历了价格上涨；它们正在重塑全球资本流动。随着铂金突破每盎司2300美元，黄金可能达到5000美元，其影响远远超出了传统的投资策略。\n\n最老练的参与者意识到，这次飙升不仅仅是投机行为——这是对系统性经济不确定性的结构性反应。供应限制，特别是在南非等地区，加上不断增长的ETF持仓量和去美元化趋势，正在为贵金属估值创造完美的风暴。\n\n展望未来，市场表明我们看到的不仅仅是一次暂时的反弹，而是对有形资产在动荡的全球经济中如何运作的根本性重新构想。交易者必须将贵金属视为战略性金融工具，而不是投机性资产，并深入了解其复杂的地缘政治背景。",[31,34,37,40],{"title":32,"answer":33,"author":5,"avatar":5,"time":5},"这次贵金属上涨的可持续性如何？","像Joni Teves这样的分析师警告说，可能会出现短期的获利回吐，但潜在的结构性趋势表明这是一次长期的转变。持续的地缘政治不确定性、央行策略和供应限制等因素表明，这不仅仅是暂时的飙升。",{"title":35,"answer":36,"author":5,"avatar":5,"time":5},"这对国际投资者和贸易商意味着什么？","投资者应将贵金属视为复杂的金融工具，而非仅仅是投机性资产。市场表明，黄金和白银相关产品存在机会，可作为对冲货币波动的潜在策略，同时也需要更密切地关注全球经济指标。",{"title":38,"answer":39,"author":5,"avatar":5,"time":5},"投资者应该在这个贵金属市场中考虑哪些风险？","投资者应谨慎对待潜在的短期获利回吐、市场波动以及当前买入周期的自我强化特性。尽管趋势强劲，但建议仔细观察市场并采取多元化策略。",{"title":41,"answer":42,"author":5,"avatar":5,"time":5},"为什么2025年贵金属价格会出现如此剧烈的上涨？","这波上涨受到多种因素推动：地缘政治紧张局势、美联储潜在的政策转变、各国央行资产多元化减少对美元资产的依赖以及日益增长的经济不确定性。 这些金属被视为一种战略性金融对冲工具，而不仅仅是传统的商品。",[44,49,54,59,64,69,73,78,82,86,90,94,98,103,107,111,115,119,123,127,132,136,140,144],{"id":45,"title":46,"source":47,"logo":17,"time":48},155310,"Asian stock markets closed mostly higher! Japan and South Korea rose, while China edged up slightly.","https://moneyandbanking.co.th/en/2025/216806/","22小时前",{"id":50,"title":51,"source":52,"logo":22,"time":53},155343,"Banks and traders race to capitalise on gold’s historic rally","https://www.ft.com/content/ae214919-1617-48fa-8f0d-7734f5c98e72","2天前",{"id":55,"title":56,"source":57,"logo":15,"time":58},153364,"Silver and gold prices rally; stock futures inch lower","https://www.msn.com/en-us/money/markets/silver-and-gold-prices-rally-stock-futures-inch-lower/ar-AA1T48bM?ocid=finance-verthp-feeds","20小时前",{"id":60,"title":61,"source":62,"logo":26,"time":63},155312,"Global markets were subdued due to multiple holidays, while metals surged again, with gold, silver, and copper all hitting new highs.","https://news.futunn.com/en/post/66666893/global-markets-were-subdued-due-to-multiple-holidays-while-metals","1天前",{"id":65,"title":66,"source":67,"logo":23,"time":68},155356,"Stock futures little changed while precious metals hit new record highs (SPX:)","https://seekingalpha.com/news/4535467-stock-futures-little-changed-while-precious-metals-hit-new-record-highs","19小时前",{"id":70,"title":71,"source":72,"logo":11,"time":63},153332,"XAU/USD: Gold Prints Record Above $4,500 as Demand Hits Fever Pitch","https://www.tradingview.com/news/tradingview:f5d34a38c094b:0-xau-usd-gold-prints-record-above-4-500-as-demand-hits-fever-pitch/",{"id":74,"title":75,"source":76,"logo":5,"time":77},153365,"Gold Doesn’t Need Santa to Keep Rallying to Record Highs","https://www.tipranks.com/news/gold-doesnt-need-santa-to-keep-rallying-to-record-highs","21小时前",{"id":79,"title":80,"source":81,"logo":5,"time":48},155311,"[Asian Market Report] China attempts to slow the appreciation of the Renminbi! Gold and silver surge to record highs as Santa Claus rally excites the market.","https://news.futunn.com/en/post/66661422/asian-market-report-china-attempts-to-slow-the-appreciation-of",{"id":83,"title":84,"source":85,"logo":5,"time":77},155355,"Most Asian Markets Gain at Friday's Close Amid Thin Holiday Trading","https://www.marketscreener.com/news/most-asian-markets-gain-at-friday-s-close-amid-thin-holiday-trading-ce7e59dad18cf421",{"id":87,"title":88,"source":89,"logo":21,"time":53},153487,"Precious metals have been on a heated pre-holiday run. Why this strategist is calling that ‘unhinged.’","https://www.marketwatch.com/story/precious-metals-have-been-on-a-heated-pre-holiday-run-why-this-strategist-is-calling-that-unhinged-75a9e523?gaa_at=eafs&gaa_n=AWEtsqcUWwHIY7Nf7R0w2J5RSWsEWI9NmAJIPnS2aNk2V43PZdhUGY0dnDdO&gaa_ts=694e7fe6&gaa_sig=alRipwE6frG2Zb7YnblZ6FH2r-mJPXUBH5jpuNqBggMxC7OL8blLa_w3bcYMNVy0Tllo5yjWumUvkgtaWWuI3w%3D%3D",{"id":91,"title":92,"source":93,"logo":25,"time":63},153498,"Silver tops $75 as gold and platinum surge to records","https://www.cnbc.com/2025/12/26/silver-tops-75-as-gold-and-platinum-surge-to-records.html",{"id":95,"title":96,"source":97,"logo":18,"time":63},155314,"Trading Update: Silver Surges Above USD 75, RMB Breaks Through 7.0, Bitcoin Awaits Directional Clarity Amid USD 23.7 Billion Options Expiry","https://news.futunn.com/en/post/66660830/trading-update-silver-surges-above-usd-75-rmb-breaks-through",{"id":99,"title":100,"source":101,"logo":28,"time":102},153367,"Gold and silver surge to records on geopolitics, dollar weakness","https://www.bostonglobe.com/2025/12/26/business/gold-and-silver-surge-to-records/","23小时前",{"id":104,"title":105,"source":106,"logo":24,"time":63},155313,"Trading Moments: Silver breaks through $75, RMB surpasses 7.0; Bitcoin awaits a crucial test of $23.7 billion in options trading to determine its direction.","https://www.panewslab.com/en/articles/09bf91b7-2cb1-4236-9efd-c9c94fda9f40",{"id":108,"title":109,"source":110,"logo":5,"time":53},155357,"Metal Rally Continues as Intel Hit by Negative Rumors | Tonight's Highlights","https://news.futunn.com/en/post/66608201/metal-rally-continues-as-intel-hit-by-negative-rumors-tonight",{"id":112,"title":113,"source":114,"logo":13,"time":63},153368,"Bullion at record highs: Gold price tops Rs 1.39 lakh, silver hits Rs 2.32 lakh — what lies ahead?","https://timesofindia.indiatimes.com/business/india-business/bullion-at-record-highs-gold-tops-rs-1-39-lakh-silver-hits-rs-2-32-lakh-what-lies-ahead/articleshow/126184091.cms",{"id":116,"title":117,"source":118,"logo":20,"time":63},153369,"Gold, silver, platinum hit record highs! Silver tops $75 per ounce for the first time — what's fueling th","https://timesofindia.indiatimes.com/business/international-business/gold-silver-platinum-hit-record-highs-silver-tops-75-per-ounce-for-the-first-time-whats-fueling-the-rally/articleshow/126182858.cms",{"id":120,"title":121,"source":122,"logo":27,"time":63},155315,"Global Markets Today: Asia Up, Silver Hits Record High","https://www.ebc.com/forex/global-markets-today-asia-up-silver-hits-record-high",{"id":124,"title":125,"source":126,"logo":12,"time":53},153315,"Gold and silver extend rallies to hit record highs","https://www.thetimes.com/business/economics/article/gold-and-silver-record-highs-ph57jcxzk?gaa_at=eafs&gaa_n=AWEtsqdHqqIPUGGJmzSYnuwAcWYi7uk2F7NDdxv5E214AvbIy9ix92HxZKGA&gaa_ts=694e7fe6&gaa_sig=EP-Z8m989Mtj_ZgrdJMiUwSRYzDB_eqqS7bFBDLfbj3BIavwlIKeWchaaFMp0w3WTNVRBOup1mdUPhX4WnDSJQ%3D%3D",{"id":128,"title":129,"source":130,"logo":5,"time":131},153316,"Gold Has Another Record-Setting Day","https://www.wsj.com/finance/commodities-futures/gold-hits-record-high-amid-rising-geopolitical-risks-8ba0ce22?gaa_at=eafs&gaa_n=AWEtsqfq19-067uJsRNafGQwVUEel8mEbvawo-DDR83dKeOgcqdswwk4-Bhk&gaa_ts=694e7fe6&gaa_sig=WR9fSqTwgpLc0ENDbgkN4A6lxALTyd2djHomueZawDShcjWeytT1OW8vwJFXq96Vq7A6HKFMCKAtkvgIoQKilQ%3D%3D","3天前",{"id":133,"title":134,"source":135,"logo":19,"time":48},155309,"Markets Today: Commodities Extend Gains as Silver Breaches $75/oz, Japan Industrial Output Slides","https://www.marketpulse.com/markets/markets-today-commodities-extend-gains-as-silver-breaches-75oz-japan-industrial-output-slides/",{"id":137,"title":138,"source":139,"logo":14,"time":48},155308,"Stock futures inch lower; metals extend rally","https://www.msn.com/en-us/money/markets/stock-futures-inch-lower-metals-extend-rally/ar-AA1SXR7c?ocid=finance-verthp-feeds",{"id":141,"title":142,"source":143,"logo":10,"time":53},153490,"Gold is set for its best year since Jimmy Carter was president","https://edition.cnn.com/2025/12/24/investing/gold-price-futures-soar",{"id":145,"title":146,"source":147,"logo":16,"time":63},153370,"Gold News: Gold Analysis Highlights Pullback Risk Despite Long-Term Bullish Trend","https://www.fxempire.com/forecasts/article/gold-news-gold-analysis-highlights-pullback-risk-despite-long-term-bullish-trend-1569725","#1bf40fff","#1bf40f4d",1766795258096]