黄金为何突然大涨？亚洲夜盘疯狂扫货，COMEX紧急跟风

金十数据2025-05-21

在上周末跌至略高于3100美元后，黄金本周再度强势反弹，周三早间已回升至3310美元上方，重返4月末收盘价位。这一走势背后存在明确动因：领涨的不是西方对冲者或ETF资金流，而是市场熟悉的重量级因素：中国的在岸需求。根据高盛的流量跟踪器，上海的夜盘已经活跃起来，引发了典型的COMEX买盘。上海期货交易所（SHFE）的未平仓合约重回历史高位。正如高盛分析师亚当·吉拉德（Adam Gillard）...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2537035996?lang=zh_CN&edition=full","thumbnail":"https://img.jin10.com/gallary/25/02/eBGb8w601pSQDpkPEOyn9.png/lite","is_english":false,"pubTime":"2025-05-21 14:23","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2537035996","market":"hk","top_or_hot":-1,"title":"黄金为何突然大涨？亚洲夜盘疯狂扫货，COMEX紧急跟风","media":"金十数据","content":"<div>\n<p>在上周末跌至略高于3100美元后，黄金本周再度强势反弹，周三早间已回升至3310美元上方，重返4月末收盘价位。\n这一走势背后存在明确动因：领涨的不是西方对冲者或ETF资金流，而是市场熟悉的重量级因素：中国的在岸需求。\n根据高盛的流量跟踪器，上海的夜盘已经活跃起来，引发了典型的COMEX买盘。上海期货交易所（SHFE）的未平仓合约重回历史高位。\n正如高盛分析师亚当·吉拉德（Adam Gillard）...</p>\n\n<a href=\"https://xnews.jin10.com/webapp/details.html?id=177187&type=news&data_type=0\">网页链接</a>\n\n</div>\n","source":"xnew_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>黄金为何突然大涨？亚洲夜盘疯狂扫货，COMEX紧急跟风</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n黄金为何突然大涨？亚洲夜盘疯狂扫货，COMEX紧急跟风\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-05-21 14:23 北京时间&nbsp;&nbsp;&nbsp;<a href=https://xnews.jin10.com/webapp/details.html?id=177187&type=news&data_type=0><strong>金十数据</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>在上周末跌至略高于3100美元后，黄金本周再度强势反弹，周三早间已回升至3310美元上方，重返4月末收盘价位。\n这一走势背后存在明确动因：领涨的不是西方对冲者或ETF资金流，而是市场熟悉的重量级因素：中国的在岸需求。\n根据高盛的流量跟踪器，上海的夜盘已经活跃起来，引发了典型的COMEX买盘。上海期货交易所（SHFE）的未平仓合约重回历史高位。\n正如高盛分析师亚当·吉拉德（Adam Gillard）...</p>\n\n<a href=\"https://xnews.jin10.com/webapp/details.html?id=177187&type=news&data_type=0\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RSI","symbol_name":"Rush Street Interactive, Inc.","start_time":0,"source_url":"https://xnews.jin10.com/webapp/details.html?id=177187&type=news&data_type=0","article_id":"2537035996","we_media_id":null,"thumbnails":["https://img.jin10.com/gallary/25/02/eBGb8w601pSQDpkPEOyn9.png/lite"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2537035996","pubTimestamp":1747808627,"columns":[{"name":"黄金","id":5,"label_key":null}],"sourceInfo":{"source_id":"xnew_highlight","name":"金十要闻"},"weMediaInfo":null,"summary":"高盛最新发现：中国买盘正在强势回归，未平仓合约创历史新高，COMEX跟风买入。更关键的是，即便金价曾跌8%，中国投资者依然不卖。","collect":0,"end_time":0,"defaultTopTitle":"jin10.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"RSI":"Rush Street Interactive, Inc.","BK4150":"赌场与赌博","SGE":"Strong Global Entertainment, INc.","BK4157":"电子设备和仪器"},"translate_title":"Why did gold suddenly soar? Asian night trading is crazy to sweep goods, COMEX urgently follows suit","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RSI":1,"SGE":1},"content_text":"在上周末跌至略高于3100美元后，黄金本周再度强势反弹，周三早间已回升至3310美元上方，重返4月末收盘价位。\n这一走势背后存在明确动因：领涨的不是西方对冲者或ETF资金流，而是市场熟悉的重量级因素：中国的在岸需求。\n根据高盛的流量跟踪器，上海的夜盘已经活跃起来，引发了典型的COMEX买盘。上海期货交易所（SHFE）的未平仓合约重回历史高位。\n正如高盛分析师亚当·吉拉德（Adam Gillard）所指出的，中国买盘正在强势回归。具体而言，中国夜盘时段的SHFE买盘触发了COMEX市场的跟进买入，推动黄金的未平仓总量增加了3%（白银增加了4%），同时上海金/COMEX金套利价差同步走阔。\n吉拉德特别强调，尽管金价曾回落8%，但中国的持仓仍稳定处于高位，且未引发国内趋势型投资者的抛售潮，这一现象令他印象深刻。\nSHFE未平仓合约量再创历史新高。\n\n\n\n中国投资者总持仓同样维持高位。\n\n\n\n中国4月黄金进口量（除央行外）反弹至一年高点，很可能是受上海黄金交易所（SGE）较伦敦金银市场协会（LBMA）溢价走强的驱动。值得注意的是，即便金价处于高位，实物买盘依然坚挺。\n\n\n\n4月实物需求反弹至一年高点，这也解释了SGE溢价为何持续走强（尽管金价高企） 。\n\n\n\n黄金6个月25%风险逆转率仍处于2.25vol的低位，因中国以外对冲基金的持仓较为清淡。6个月25%Delta看涨期权波动率约19.5%，吉拉德认为鉴于正向Vanna效应（若金价再创新高，波动率表现料将优于微笑曲线），投资者应持有该期权。\n这意思就是说，吉拉德认为现在买黄金看涨期权很划算，因为国际对冲基金持仓很轻，如果金价继续创新高，这个投资能赚不少。\n\n\n\n短线来看，Fxstreet分析称，由于14天相对强弱指数（RSI）收复了中线，周二金价突破了21天SMA和50天SMA之间的近期区间，向上运行。此外，金价还捍卫了3165美元附近的关键回撤支撑位，这是4月份创纪录涨势的61.8斐波那契回调位。这一黄金比例支撑帮助金价上演了一场像样的反弹，并有可能进一步上涨。日收盘价需高于21日均线3289美元，才能维持升势。\n下一个上行目标是下降趋势线阻力位3387美元，超过这一阻力位，将瞄准3400美元的水平。相反，如果卖方反击，位于3185美元的50日均线将提供初步支撑，跌破后将重新测试上述斐波水平。如果无法守住这一关键支撑，新一轮抛售可能会被推向3100美元大关。","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2537035996","isCrawlerRequest":true}