美元走强加剧贵金属抛售,金价跌破4000美元

周三,由于美元走强以及市场预期美国货币政策收紧,黄金价格自去年11月以来首次跌破每盎司4000美元,引发贵金属全面抛售。

XAUUSD_2026-06-25_11-00-12

XAU/USD – 1年走势图

市场概览

现货黄金(XAU/USD)收跌2.7%,报每盎司3999.21美元,这是自2025年11月7日以来首次收于4000美元以下。美国黄金期货(GC)下跌3.2%,至每盎司4016.40美元。

白银(XAG/USD)下跌6.8%,至每盎司57.43美元,铂金(XPT/USD)下跌4.8%,至每盎司1582.60美元。

美联储与美元施压

此举源于美联储上周的鹰派立场转变。当时更新的预测显示,多位政策制定者预计今年将加息,以应对此前能源价格冲击带来的通胀压力。

由于黄金本身不产生收益,利率上升往往会对黄金构成压力。美元走强也会使以美元计价的黄金对使用其他货币的买家而言更加昂贵。

Britannia Global Markets金属主管 Neil Welsh 表示,金属价格“更多地受到仓位流动的影响,而非基本面因素”。

金属价格普遍下跌

白银跌幅更大,反映出贵金属需求疲软以及其价格受工业市场情绪的影响。交易员表示,关键支撑位失守后,抛售势头加剧。

中东局势

随着霍尔木兹海峡航运活动的改善,油价有所回落,缓解了部分与中东冲突相关的通胀担忧。该水道承载着全球约五分之一的石油和天然气运输量。

Investing.com援引Kpler的数据显示,周二有31艘船舶通过该海峡。预计美伊技术会谈将于下周在瑞士恢复。

展望

市场接下来将关注美国个人消费支出通胀数据、美元走势,以及美伊会谈能否进一步降低能源和金属市场的地缘政治风险溢价。

关于作者

 

Martin Lam 是 ATFX 亚太区首席分析师,在全球外汇及投资市场拥有逾 20 年的经验。他毕业于迪肯大学(Deakin University),主修金融与经济学,并曾在多家领先的外汇经纪公司担任高级管理职位。

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