黄金:美联储风险和美元走强限制上行空间 – 道明证券
道明证券(TD Securities)以 Bart Melek 为首的大宗商品策略师指出,随着美国-伊朗冲突导致油价上涨威胁到近期的通胀放缓进展,黄金投资者已大幅削减多头敞口。

道明证券(TD Securities)大宗商品策略师、由 Bart Melek 领衔的团队指出,由于美伊冲突推高油价并威胁近期的通胀放缓进展,黄金投资者已大幅削减多头敞口。随着市场越来越多地计入美联储在 2026 年末加息,较高的持有成本和机会成本,加上更坚挺的美元,预计将使黄金维持在 3,900 美元/盎司附近的支撑位,投机性多头仓位可能进一步流失。

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"随着黄金投资者大举削减多头敞口,市场逐渐意识到,升级中的美伊冲突将继续使油价维持在极高水平,这将逆转近期在通胀方面取得的进展。"

"鉴于能源板块可能在未来几个月推动整体价格走高,市场正越来越多地计入美联储在年底前加息。"

"由此带来的持有成本上升、收益率驱动的机会成本增加以及美元走强,可能会使金价维持在 3,900 美元/盎司附近的支撑位。"

"资金管理者也已减少白银多头敞口,由于工业需求和投资需求走弱,这将对价格形成下行压力。"

"因此,目前白银和黄金的多头仓位都可能进一步流失。"

(本文由人工智能工具协助创作,并经编辑审校。了解更多。

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