“五一”金价过山车：跌破4500美元/盎司后反弹，后市怎么走

21世纪经济报道05-06 19:29

21世纪经济报道记者冯紫彤　　刷到金价重回4500美元/盎司的消息，董女士激动地打开手机银行积存金页面。在她看来，“逢低补仓”的赚钱机会似乎又到了。　　抱有和董女士相似想法的投资者人数不少。“五一”假期期间，国际金价、银价持续震荡。5月4日，现货黄金一度跌破4500美元/盎司关口，创下近一月来新低。面对此等行情，有人果断加仓，有人在观望中煎熬，也有人在年初高位追涨后，面对账面浮亏彻夜难眠。...

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/2633808041?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-05-06 19:29","share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","id":"2633808041","market":"sg","top_or_hot":-1,"title":"“五一”金价过山车：跌破4500美元/盎司后反弹，后市怎么走","media":"21世纪经济报道","content":"<div>\n<p>21世纪经济报道记者 冯紫彤 \n　　刷到金价重回4500美元/盎司的消息，董女士激动地打开手机银行积存金页面。在她看来，“逢低补仓”的赚钱机会似乎又到了。\n　　抱有和董女士相似想法的投资者人数不少。“五一”假期期间，国际金价、银价持续震荡。5月4日，现货黄金一度跌破4500美元/盎司关口，创下近一月来新低。面对此等行情，有人果断加仓，有人在观望中煎熬，也有人在年初高位追涨后，面对账面浮亏彻夜难眠。...</p>\n\n<a href=\"https://finance.sina.com.cn/money/lcxqs/2026-05-06/doc-inhwyiyf5718000.shtml\">网页链接</a>\n\n</div>\n","source":"sina","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>“五一”金价过山车：跌破4500美元/盎司后反弹，后市怎么走</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“五一”金价过山车：跌破4500美元/盎司后反弹，后市怎么走\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-06 19:29 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/money/lcxqs/2026-05-06/doc-inhwyiyf5718000.shtml><strong>21世纪经济报道</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>21世纪经济报道记者 冯紫彤 \n　　刷到金价重回4500美元/盎司的消息，董女士激动地打开手机银行积存金页面。在她看来，“逢低补仓”的赚钱机会似乎又到了。\n　　抱有和董女士相似想法的投资者人数不少。“五一”假期期间，国际金价、银价持续震荡。5月4日，现货黄金一度跌破4500美元/盎司关口，创下近一月来新低。面对此等行情，有人果断加仓，有人在观望中煎熬，也有人在年初高位追涨后，面对账面浮亏彻夜难眠。...</p>\n\n<a href=\"https://finance.sina.com.cn/money/lcxqs/2026-05-06/doc-inhwyiyf5718000.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":"BEGS","symbol_name":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","start_time":0,"source_url":"https://finance.sina.com.cn/money/lcxqs/2026-05-06/doc-inhwyiyf5718000.shtml","article_id":"2633808041","we_media_id":null,"thumbnails":[],"rights":{"source":"sina","url":"https://finance.sina.com.cn/money/lcxqs/2026-05-06/doc-inhwyiyf5718000.shtml","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.art_tit_h1{#titleStyle#}a{#lv2TextColor#}.art_time, .art_cite{#sourceStyle#;} .art_cite{margin-left: 3px;}","selectors":".module-article, article","filters":"header, .voice2, .tags, #norm_qrcode_link_auto, .unfold-box, .action","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2633808041","pubTimestamp":1778066940,"columns":[],"sourceInfo":{"source_id":"sina","name":"sina"},"weMediaInfo":null,"summary":"　　刷到金价重回4500美元/盎司的消息，董女士激动地打开手机银行积存金页面。“五一”假期期间，国际金价、银价持续震荡。5月4日，现货黄金一度跌破4500美元/盎司关口，创下近一月来新低。　　5月5日，美伊局势传出缓和信号，现货黄金反弹至4555美元/盎司。5月6日亚市早盘，金价延续涨势并重新站上4600美元/盎司关口。截至发稿，现货黄金价格约为4690美元/盎司。","collect":0,"end_time":0,"defaultTopTitle":"sina.com.cn","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","GDXD":"MicroSectors Gold Miners -3x Inverse Leveraged ETN","UYM":"基础材料指数ETF-ProShares两倍做多","JNUG":"金矿指数二倍做多ETF","GLDM":"SPDR Gold MiniShares Trust","GDXJ":"小型黄金矿业ETF(Market Vectors)","JDST":"金矿指数二倍做空ETF","DGP":"二倍做多黄金ETN(PowerShares)","SGOL":"Abrdn Gold ETF Trust","DULL":"MICROSECTORS GOLD -3X INVERSE LEVERAGED ETN","GDXU":"MicroSectors Gold Miners 3x Leveraged ETN","USG":"USCF Gold Strategy Plus Income Fund","BK4585":"ETF&股票定投概念","GBUG":"Sprott Active Gold & Silver Miners ETF","DZZ":"德银黄金两倍做空ETN","BTGD":"STKD Bitcoin & Gold ETF","GLTR":"abrdn Physical Precious Metals Basket Shares ETF","IAU":"黄金信托ETF-iShares","PHYS":"Sprott Physical Gold Trust","BAR":"GraniteShares Gold Shares","GDXY":"YieldMax Gold Miners Option Income Strategy ETF","BK4535":"淡马锡持仓","SHNY":"MICROSECTORS GOLD 3X LEVERAGED ETN","GOAU":"U.S. Global GO GOLD and Precious Metal Miners ETF","IAUI":"NEOS Gold High Income ETF","RING":"iShares MSCI Global Gold Miners ETF","UDN":"做空美元指数-PowerShares","BK4504":"桥水持仓","IAUM":"ISHARES GOLD TRUST MICRO","BK4588":"碎股","FGDL":"FRANKLIN RESPONSIBLY SOURCED GOLD ETF","DBC":"商品指数ETF-PowerShares DB","UUP":"美元ETF-PowerShares DB","SGDM":"Sprott Gold Miners ETF","PALL":"abrdn Physical Palladium Shares ETF","CEF":"Sprott Physical Gold & Silver Trust","GLL":"2倍做空黄金ETF-ProShares","OUNZ":"VanEck Merk黄金股票基金","AAAU":"Goldman Sachs Physical Gold ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","BK4207":"综合性银行","GOLY":"Strategy Shares Gold Enhanced Yield ETF","UGL":"2倍做多黄金ETF-ProShares","GDX":"黄金矿业ETF-VanEck"},"translate_title":"\"May Day\" gold price roller coaster: rebound after falling below $4,500/oz, how to go in the market outlook","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GDXD":1.5,"CEF":1.5,"SGDM":1.5,"UYM":1.5,"MGCmain":1.5,"OUNZ":1.5,"SHNY":1.5,"BAR":1.5,"UDN":1.5,"BTGD":1.5,"DGP":1.5,"AAAU":1.5,"GLTR":1.5,"IAU":1.5,"JNUG":1.5,"GDXY":1.5,"SGOL":1.5,"IAUM":1.5,"FGDL":1.5,"GDXU":1.5,"IAUI":1.5,"DULL":1.5,"DBC":1.5,"GDX":1.5,"GLDM":1.5,"JDST":1.5,"PALL":1.5,"GOLY":1.5,"BEGS":1.5,"RING":1.5,"USG":1.5,"GDXJ":1.5,"GLL":1.5,"GOAU":1.5,"GBUG":1.5,"UGL":1.5,"PHYS":1.5,"UUP":1.5,"DZZ":1.5,"DUST":1.5},"content_text":"21世纪经济报道记者 冯紫彤 \n　　刷到金价重回4500美元/盎司的消息，董女士激动地打开手机银行积存金页面。在她看来，“逢低补仓”的赚钱机会似乎又到了。\n　　抱有和董女士相似想法的投资者人数不少。“五一”假期期间，国际金价、银价持续震荡。5月4日，现货黄金一度跌破4500美元/盎司关口，创下近一月来新低。面对此等行情，有人果断加仓，有人在观望中煎熬，也有人在年初高位追涨后，面对账面浮亏彻夜难眠。\n　　金价为何坐上过山车？后市还有机会吗？\n　　金价坐上过山车\n　　这个“五一”假期，国际贵金属市场走出了两波截然不同的行情。\n　　Wind数据显示，5月1日至5月5日，COMEX黄金、COMEX白银分别累计下跌1.47%和1.3%。其中受地缘政治因素影响，5月4日跌幅最深，COMEX黄金当日下跌2.41%；现货黄金最低触及4499.92美元/盎司，创下近一个月新低。白银跌幅更大，COMEX白银5月4日单日跌超4%。\n（伦敦金现五日价格走势 图片来源：Wind）\n　　金价骤跌令不少在高位重仓买入的投资者措手不及。投资者刘先生告诉记者，他在年初曾买入一些投资金条，随着近期金价一路下探，5月4日其账面一度浮亏近6000元。“每天都在纠结要不要割肉，卖了就是真亏，不卖又怕继续跌。”好在假期尾声金价出现反弹，他的浮亏也逐渐收窄。\n　　5月5日，美伊局势传出缓和信号，现货黄金反弹至4555美元/盎司。5月6日亚市早盘，金价延续涨势并重新站上4600美元/盎司关口。截至发稿，现货黄金价格约为4690美元/盎司。\n　　在国内消费端，这个假期总体冷清。品牌金饰价格在5月1日前后普遍跌破1400元/克，周大福5月5日报1392元/克。但降价并没有带来消费热潮，“来问的人挺多，来买的不多，大家还是‘买涨不买跌’的心态”，有金饰销售人员对记者表示。\n　　投资者应如何应对？\n　　面对假期金价过山车般的行情，一个让许多投资者困惑的现象是，中东局势升级，金价为何却并未应声大涨，反而跌至近一月新低？\n　　东方金诚研究发展部高级副总监瞿瑞向21世纪经济报道记者分析，金价下跌主要源于中东局势升级直接导致市场对石油供给担忧快速上升，原油价格随之大涨，油价飙升加大了通胀压力，通胀粘性迫使美联储维持高利率，而高利率反过来压制了黄金的吸引力。\n　　此前，外界普遍认为，美联储2026年内或将有两次降息。不过4月30日，美联储会议宣布维持利率在3.50%至3.75%区间不变。\n　　对此，瞿瑞分析道，这一决策符合市场预期，市场已在会前对美联储决议充分定价。她进一步表示，此次利率维持并未对金价中长期上涨预期形成趋势性压制，仅产生边际影响，也不会改变黄金的核心定价逻辑。\n　　面对当前的金价波动，投资者应如何应对？瞿瑞建议，投资者需锚定黄金的核心定价逻辑，结合自身资金属性与风险偏好制定不同策略，切忌盲目追涨杀跌。\n　　对于中长期配置型资金而言，她认为黄金的核心配置价值在于对冲主权信用风险、滞胀风险与地缘不确定性，短期流动性冲击引发的价格波动并未改变其中长期上行的核心支撑，回调反而为资金提供了更优的布局窗口，可通过分批定投方式平滑短期波动风险，坚守长期配置逻辑。\n　　对于短线交易型资金，则需紧密跟踪美元实际收益率、地缘局势、美联储政策预期三大核心定价变量，注意仓位管理与止损止盈，规避在多头拥挤度高位盲目追高，同时警惕地缘事件与政策表态超预期带来的流动性冲击。\n　　展望后市，机构观点出现分歧。摩根士丹利在5月3日发布的研报中将黄金调整为“战术性低配”，认为美联储鹰派信号与地缘局势缓和的可能性正在削弱黄金上行动能。高盛维持了其对2026年底金价5400美元/盎司的预测。而美国银行则继续唱多，将2026年黄金平均价格预期上调至5093美元/盎司，并维持12个月目标价6000美元/盎司。\n　　瞿瑞认为，金价将维持短期宽幅震荡、中长期趋势上行的格局。短期来看，在地缘局势反复、美联储内部分歧加大、市场情绪快速切换的多空博弈下，金价仍将维持宽幅震荡，不排除阶段性回调可能。但她同时强调，美国财政刚性约束已为美联储政策收紧设置了天花板，金价出现深度回调的概率极低。\n　　中长期来看，支撑金价上行的核心逻辑并未发生根本逆转，美伊冲突长期化加剧美国财政可持续性、美元信用体系结构性动摇、全球央行战略性购金、滞胀风险倒逼美联储货币政策转向四大核心支撑，将持续推动金价上行。\n\n新浪合作大平台期货开户 安全快捷有保障\n\n\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：曹睿潼","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","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":"4.42.1","shortVersion":"4.42.1","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/2633808041","isCrawlerRequest":true}