中金：维持超配黄金把握短期波段机会与流动性外溢机会

E公司2025-12-26

人民财讯12月26日电，中金公司研报认为，当前美联储仍处于宽松周期之中，美国经济仍受到滞胀（增长下行，通胀上行）困扰，因此在看到美国政策与经济拐点之前，黄金牛市可能继续，维持超配黄金。今年黄金涨幅较大，估值偏高，2026年初美联储宽松预期阶段性退坡，或成为风险来源。考虑到明年美联储最终仍会重新加速宽松，因此如果明年初金价发生明显回调，可能是逢低增配的机会。黄金大幅上涨之后，近期铜、白银等商品也有...

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中金：维持超配黄金 把握短期波段机会与流动性外溢机会

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中金：维持超配黄金把握短期波段机会与流动性外溢机会