金油神策:黄金暴跌温和反弹原油情绪溢价回落

市场资讯03-25

现货黄金： 3月25日，消息面：在伊朗冲突引发全球市场流动性紧张之际，黄金并未持续扮演传统避险资产角色，反而遭遇明显抛售。盛宝银行（Saxo Bank）大宗商品策略主管Ole Hansen指出，当前黄金与白银承压，并不是因为其中长期配置逻辑发生根本逆转，而是由于中东战争触发宏观冲击，投资者不得不同步重估通胀、利率、增长与流动性环境，并通过抛售仍有账面收益的贵金属头寸来换取现金。不过他强调，一旦这轮...

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Hansen指出，当前黄金与白银承压，并不是因为其中长期配置逻辑发生根本逆转，而是由于中东战争触发宏观冲击，投资者不得不同步重估通胀、利率、增长与流动性环境，并通过抛售仍有账面收益的贵金属头寸来换取现金。不过他强调，一旦这轮...</p>\n\n<a href=\"https://finance.sina.com.cn/money/nmetal/hjfx/2026-03-25/doc-inhseqha3694539.shtml\">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":"IAUM","symbol_name":"ISHARES GOLD TRUST 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Hansen指出，当前黄金与白银承压，并不是因为其中长期配置逻辑发生根本逆转，而是由于中东战争触发宏观冲击，投资者不得不同步重估通胀、利率、增长与流动性环境，并通过抛售仍有账面收益的贵金属头寸来换取现金。不过他强调，一旦这轮强制平仓和技术性抛售告一段落，财政失衡、去美元化以及滞胀风险上升，仍将重新支撑金价走高。\n　　技术面：昨日黄金延续反弹节奏。早盘自4406.2开盘后一度冲高至4448.8，随后空头反扑，回撤至4404.3低点后再度强势拉升，最高触及4485.4，最终收报4472.5，日线录得一根带上下影线的“孕线锤头”形态。此形态显示多头动能虽有所保留，但整体趋势仍偏上行，因此今日操作思路继续以回踩做多为主。从技术面结构分析，凌晨时段金价虽出现阶段性拉升，但整体仍处于大区间整理框架内。上方需重点关注三重阻力区域，第一阻力位于4612-4625附近，是日内短线反弹的核心压制位；极限阻力看向4687一线，短期多空关键枢纽则在前期密集开跌位4715-4730区间，这三个阻力位强度逐级递增，其中第一阻力短线参与价值显著，若日内价格直接冲高至第二、第三阻力位，空间与风险比失衡。日内重点关注上方4687-4715美元一线压力，下方关注4542-4495美元一线支撑。\n　　WTI原油：\n　　消息面：近期国际原油市场出现明显回调，核心驱动来自中东局势的阶段性缓和。美国已向伊朗方面提交一项包含约15点内容的冲突解决方案，同时推动实现为期约一个月的停火安排，为后续谈判创造空间。这一进展直接改变了市场对局势演变路径的预期，使此前因冲突升级而积累的风险溢价出现集中回吐。3月25日，原油在周三亚市交易时段交投于约88.07美元。随着美伊谈判释放中东和平的希望，WTI价格下跌。交易员正准备迎接美国能源信息署（EIA）将在周三晚些时候发布的报告。\n　　技术面：WTI日线级别已经出现阶段性顶部特征，价格在前期冲高区域附近受阻回落，动能指标同步走弱，显示上行动力明显减弱。当前价格运行逐步进入震荡区间，上方93美元附近形成明显阻力，对应前期情绪高点区域；下方83美元构成关键支撑，同时也是多空分水岭，一旦有效跌破，可能打开进一步回调空间。4小时级别，市场抛压加大，盘面走出放量下跌结构。短期均线系统出现死叉，价格运行在主要均线下方，显示空头主导节奏。MACD指标运行于零轴下方且开口持续放大，短期下行风险进一步加剧。日内重点关注上方92.3-94.0阻力，下方关注86.0/84.6支撑。\n\n新浪合作大平台期货开户 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金油神策:黄金暴跌温和反弹 原油情绪溢价回落

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金油神策:黄金暴跌温和反弹原油情绪溢价回落