<p>在过去几周，我一直在撰写更新，跟踪贵金属和矿业股票的常规和健康回调，以确定它是否还有进一步下跌的空间，或者是否接近尾声。</p>
<p>在我 10 月 28 日的最后一次更新中，我指出贵金属和矿业股票都已被超卖，这在我们当前确认的上升趋势中，通常意味着回调即将结束，并通常为抄底买家和希望进行定投的人提供了良好的机会。</p>
<p>在今天的更新中，我想展示黄金和白银目前的状况，以及提供强烈线索的日内重要图表模式，关于接下来可能发生的事情。</p>
<p>让我们从黄金开始，它引领着整体贵金属市场。根据下方价格图表的 Williams %R 指标，黄金在 9 月和 10 月上半月被强烈超买，而 10 月下半月的回调帮助消化了这种超买状态及其带来的过热情绪。</p>
<p>这使得黄金有望恢复其持续的牛市，这一趋势依然完好，并且还有许多年可以延续。不过，在宣布回调结束之前，我想看看一个特定的日内图表模式如何演变，我会很快展示。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-1-COMEX-Gold-Futures-Jesse-Colombo-Money-Metals-min.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-1-COMEX-Gold-Futures-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>在 9 月和 10 月初黄金上涨期间，波动性激增，正如下方价格图表的布林带宽度指标所示，而现在黄金及更广泛的贵金属市场的波动性正在减弱。这表明贵金属可能正在形成一个新的整合阶段，以为下一次重大走势积蓄能量。</p>
<p>当前的设置类似于春季发生的情况，当时一次急剧的上涨后，波动性减弱并出现了一段横盘整理。然而，考虑到最近的上涨是多么短暂，我并不认为这次需要再经历四个月的整合。</p>
<p>这种整合应该有助于黄金保存和积累能量，以便进行下一次上涨，我预计这将使其在 2026 年达到 5000 美元。这个前景得到了包括高盛、美国银行、汇丰银行和法国兴业银行等主要机构的认可。此外，摩根大通首席执行官杰米·戴蒙（Jamie Dimon）最近表示，黄金 “在这样的环境中，可能轻松达到 5000 美元或 10000 美元。”</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-2-COMEX-Gold-Futures-Volatility-Jesse-Colombo-Money-Metals-min.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-2-COMEX-Gold-Futures-Volatility-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>黄金在上升趋势中正式超卖，这通常是一个看涨信号，但我想先看到一个更进一步的发展。目前在 2 小时日内图表上形成了一个整合模式，图表下方标记为 “整合#2”。在 10 月 26 日，我指出了 “整合#1”，并指出它可能向任一方向突破，结果它向下突破。</p>
<p>我现在在观察这个第二个整合如何演变。如果它向下突破，那应该标志着一次快速的情绪冲击，为强劲反弹铺平道路。另一方面，如果最近的回调已经结束，我预计将出现向上的突破，并在关键的 4000 美元水平上有令人信服的收盘，这将表明上升趋势正在恢复。和往常一样，我的座右铭是：不要预测，反应。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-3-COMEX-Gold-Futures-Intraday-Jesse-Colombo-Money-Metals-min.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-3-COMEX-Gold-Futures-Intraday-Jesse-Colombo-Money-Metals-min.png"/></p>
<p>接下来，我们来看白银，上周白银已经超卖，并且自那时以来稍微反弹，尽管 Williams %R 指标仍然接近其范围的下端。我的看法是，白银处于一个非常好的位置，重要的是，在最近的上涨中，它从未像黄金那样过热。因此，这一回调阶段不应该像黄金那样剧烈，考虑到两种金属之间的波动性自然差异。</p>
<p>现在，我的直觉是白银正在形成一个整合模式，以便在再次向上突破关键的 50 美元水平之前喘口气，而这次它应该最终成功，并从那里继续大幅上涨。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-4-COMEX-Silver-Futures-Jesse-Colombo-Money-Metals-min.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-4-COMEX-Silver-Futures-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>从白银的 2 小时日内图表来看，它和黄金一样，现在正在形成第二个整合模式，而这个模式的演变将为最近的回调是否结束提供强烈的指示。</p>
<p>与黄金在其关键的 4000 美元水平附近类似，白银的价格走势正发生在关键的 50 美元水平下方，这并不令人惊讶，因为通常在许多人关注的主要水平附近会进行很多算法交易。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-5-COMEX-Silver-Futures-Intraday-Jesse-Colombo-Money-Metals-min.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-5-COMEX-Silver-Futures-Intraday-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>此外，我想指出一个与贵金属回调是否结束的讨论非常相关的事情，那就是在周五发生的一个非常不寻常且令人担忧的事件，当时隔夜回购需求激增至 294 亿美元，这是五年来的最高日水平。回购是美联储在银行需要立即流动性时提供的短期贷款。</p>
<p>当这个数字急剧上升时，这并不是正常现象，因为它表明短期融资市场的压力正在加大。这种压力最终可能为以量化宽松（QE）形式重新启动资产购买铺平道路，这将对贵金属极为看涨，并可能轻松为黄金提供推动力，使其达到 5000 美元以上，白银达到 80 美元以上。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-6-US-Federal-Reserve-Overnight-Repurchase-Agreements-Jesse-Colombo-Money-Metals-min.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-6-US-Federal-Reserve-Overnight-Repurchase-Agreements-Jesse-Colombo-Money-Metals-min.png"/></p>
<p>回归量化宽松（QE），本质上就是数字货币印刷，已经只是时间问题。没有哪个政府或中央银行能够长时间抵制使用印刷机的诱惑，而这正是拥有贵金属的最终原因。</p>
<p>自 2022 年以来，美联储的量化紧缩（QT）或缩减资产负债表，为当前日益增长的金融压力奠定了基础，这种情况让人想起 2019 年底发生的事件，最终导致了大规模的 QE，这被官方归因于 COVID 疫情。</p>
<p>值得注意的是，在上周的会议上，美联储宣布结束其仍然相当可观的资产负债表的缩减，理由是货币市场流动性状况正在收紧，银行储备水平正在下降。</p>
<p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-7-Federal-Reserve-Balance-Sheet-Quantitative-Tightening-Jesse-Colombo-Money-Metals-min.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-7-Federal-Reserve-Balance-Sheet-Quantitative-Tightening-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>总的来说，贵金属目前被超卖，这通常会为反弹创造条件，因为它们仍处于强劲的上升趋势中。</p>
<p>然而，我在等待另一个因素的解决，那就是目前在黄金和白银中形成的日内整合模式。这些模式的演变也将对矿业股票和铂族金属的方向产生强烈影响。</p>
<p>另一个需要记住的重要因素，可能会促成从这里的反弹，是金融系统中正在积聚的令人担忧的压力，这可能最终导致另一波数字货币印刷。像往常一样，我会随时更新这一切的发展和我所观察到的情况。</p>
<hr/>
<p><em>更多来自此作者的文章：</em></p>
<p>贵金属正式被超卖</p>
<p>为什么贵金属现在如此波动</p>
<p>如何判断贵金属回调何时结束</p>

BULL

<p>最近贵金属，特别是黄金和白银的回调似乎即将结束。在经历了一段时间的超买后，黄金现在在持续的牛市中处于超卖状态，这暗示着潜在的反弹。分析师预计到 2026 年黄金将达到 5000 美元，主要机构对此表示支持。白银虽然也处于超卖状态，但在突破关键的 50 美元水平方面位置良好。这两种金属正在形成整合模式，其下一步走势取决于这些模式的解决情况。隔夜回购需求的激增增加了市场的波动性背景</p>

<p>Over the past couple of weeks, I’ve been writing updates tracking the routine and healthy pullback in precious metals and mining stocks to determine whether it has further to go or is nearing completion.</p>
<div class="lb-trans"><p>在过去几周，我一直在撰写更新，跟踪贵金属和矿业股票的常规和健康回调，以确定它是否还有进一步下跌的空间，或者是否接近尾声。</p>
</div><p>In my last update on October 28th, I noted that both precious metals and mining stocks had become oversold, which, in the context of a confirmed uptrend like the one we’re currently in, typically signals that the pullback is close to ending and usually offer a good opportunity for dip buyers and those looking to dollar-cost average.</p>
<div class="lb-trans"><p>在我 10 月 28 日的最后一次更新中，我指出贵金属和矿业股票都已被超卖，这在我们当前确认的上升趋势中，通常意味着回调即将结束，并通常为抄底买家和希望进行定投的人提供了良好的机会。</p>
</div><p>In today’s update, I want to show where gold and silver stand now, along with important intraday chart patterns that provide strong clues about what might come next.</p>
<div class="lb-trans"><p>在今天的更新中，我想展示黄金和白银目前的状况，以及提供强烈线索的日内重要图表模式，关于接下来可能发生的事情。</p>
</div><p>Let’s start with gold, which leads the overall precious metals space. After being strongly overbought throughout September and the first half of October, according to the Williams %R indicator below the price chart, gold’s pullback in the second half of October helped to work off that overbought condition and the frothy sentiment that came with it.</p>
<div class="lb-trans"><p>让我们从黄金开始，它引领着整体贵金属市场。根据下方价格图表的 Williams %R 指标，黄金在 9 月和 10 月上半月被强烈超买，而 10 月下半月的回调帮助消化了这种超买状态及其带来的过热情绪。</p>
</div><p>This now positions gold to resume its ongoing bull market, which remains intact and has many years left to run. That said, before calling the pullback over, I want to see how a specific intraday chart pattern resolves, which I will show shortly.</p>
<div class="lb-trans"><p>这使得黄金有望恢复其持续的牛市，这一趋势依然完好，并且还有许多年可以延续。不过，在宣布回调结束之前，我想看看一个特定的日内图表模式如何演变，我会很快展示。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-1-COMEX-Gold-Futures-Jesse-Colombo-Money-Metals-min.jpg" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-1-COMEX-Gold-Futures-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>After a surge in volatility during the gold rally in September and early October, as measured by the Bollinger Band Width indicator beneath the price chart, volatility is now subsiding in gold and across the broader precious metals complex. This indicates that precious metals are likely forming a new consolidation phase as they build energy for the next major move.</p>
<div class="lb-trans"><p>在 9 月和 10 月初黄金上涨期间，波动性激增，正如下方价格图表的布林带宽度指标所示，而现在黄金及更广泛的贵金属市场的波动性正在减弱。这表明贵金属可能正在形成一个新的整合阶段，以为下一次重大走势积蓄能量。</p>
</div><p>The current setup is similar to what occurred in the spring, when a sharp rally was followed by a subsidence in volatility and a period of sideways movement. However, I don’t necessarily believe that another four months of consolidation is required this time, given how brief the recent rally has been.</p>
<div class="lb-trans"><p>当前的设置类似于春季发生的情况，当时一次急剧的上涨后，波动性减弱并出现了一段横盘整理。然而，考虑到最近的上涨是多么短暂，我并不认为这次需要再经历四个月的整合。</p>
</div><p>This consolidation should help gold conserve and build energy for its next move higher, which I expect will take it to $5,000 in 2026. That outlook is shared by major institutions including Goldman Sachs, Bank of America, HSBC, and Société Générale. In addition, JPMorgan CEO Jamie Dimon, who is not known for being a gold advocate, recently said that gold “could easily go to $5,000 or $10,000 in environments like this.”</p>
<div class="lb-trans"><p>这种整合应该有助于黄金保存和积累能量，以便进行下一次上涨，我预计这将使其在 2026 年达到 5000 美元。这个前景得到了包括高盛、美国银行、汇丰银行和法国兴业银行等主要机构的认可。此外，摩根大通首席执行官杰米·戴蒙（Jamie Dimon）最近表示，黄金 “在这样的环境中，可能轻松达到 5000 美元或 10000 美元。”</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-2-COMEX-Gold-Futures-Volatility-Jesse-Colombo-Money-Metals-min.jpg" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-2-COMEX-Gold-Futures-Volatility-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>Gold is officially oversold within an uptrend, which is typically a bullish signal, but there’s one more development I want to see play out first. A consolidation pattern is currently forming on the 2-hour intraday chart, labeled “Consolidation #2” on the chart below. On October 26th, I pointed out “Consolidation #1” and noted that it could break in either direction, and it ended up breaking to the downside.</p>
<div class="lb-trans"><p>黄金在上升趋势中正式超卖，这通常是一个看涨信号，但我想先看到一个更进一步的发展。目前在 2 小时日内图表上形成了一个整合模式，图表下方标记为 “整合#2”。在 10 月 26 日，我指出了 “整合#1”，并指出它可能向任一方向突破，结果它向下突破。</p>
</div><p>I’m now watching to see how this second consolidation resolves. If it breaks lower, that should mark a final quick flush that hits sentiment and sets the stage for a strong rebound. On the other hand, if the recent pullback is already complete, I would expect an upside breakout with a convincing close above the key $4,000 level, which would indicate that the uptrend is resuming. As always, my motto is: don’t predict, react.</p>
<div class="lb-trans"><p>我现在在观察这个第二个整合如何演变。如果它向下突破，那应该标志着一次快速的情绪冲击，为强劲反弹铺平道路。另一方面，如果最近的回调已经结束，我预计将出现向上的突破，并在关键的 4000 美元水平上有令人信服的收盘，这将表明上升趋势正在恢复。和往常一样，我的座右铭是：不要预测，反应。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-3-COMEX-Gold-Futures-Intraday-Jesse-Colombo-Money-Metals-min.png" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-3-COMEX-Gold-Futures-Intraday-Jesse-Colombo-Money-Metals-min.png"/></p>
<p>Next, we move on to silver, which became oversold last week and has since rebounded slightly out of oversold territory, although the Williams %R indicator remains near the lower end of its range. My view is that silver is in a very good position and, importantly, never became as overheated as gold during the recent rally. Because of that, this pullback phase shouldn’t be as sharp as gold’s, accounting for the natural differences in volatility between the two metals.</p>
<div class="lb-trans"><p>接下来，我们来看白银，上周白银已经超卖，并且自那时以来稍微反弹，尽管 Williams %R 指标仍然接近其范围的下端。我的看法是，白银处于一个非常好的位置，重要的是，在最近的上涨中，它从未像黄金那样过热。因此，这一回调阶段不应该像黄金那样剧烈，考虑到两种金属之间的波动性自然差异。</p>
</div><p>Right now, my instinct is that silver is forming a consolidation pattern to catch its breath before making another push to close above the critical $50 level, and this time it should finally succeed and continue much higher from there.</p>
<div class="lb-trans"><p>现在，我的直觉是白银正在形成一个整合模式，以便在再次向上突破关键的 50 美元水平之前喘口气，而这次它应该最终成功，并从那里继续大幅上涨。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-4-COMEX-Silver-Futures-Jesse-Colombo-Money-Metals-min.jpg" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-4-COMEX-Silver-Futures-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>A look at silver’s 2-hour intraday chart shows that it, like gold, is now forming its second consolidation pattern, and how that resolves will provide a strong indication of whether the recent pullback is over or if it still has a bit further to go.</p>
<div class="lb-trans"><p>从白银的 2 小时日内图表来看，它和黄金一样，现在正在形成第二个整合模式，而这个模式的演变将为最近的回调是否结束提供强烈的指示。</p>
</div><p>Similar to gold near its key $4,000 level, silver’s price action is occurring just below the key $50 level, which isn’t surprising since there are usually a lot of algo games played around major levels that so many eyes are watching.</p>
<div class="lb-trans"><p>与黄金在其关键的 4000 美元水平附近类似，白银的价格走势正发生在关键的 50 美元水平下方，这并不令人惊讶，因为通常在许多人关注的主要水平附近会进行很多算法交易。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-5-COMEX-Silver-Futures-Intraday-Jesse-Colombo-Money-Metals-min.jpg" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-5-COMEX-Silver-Futures-Intraday-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>Also, I want to point out something very relevant to the discussion of whether the precious metals pullback is over, and that is a highly unusual and alarming occurrence on Friday, when overnight repo demand spiked to $29.4 billion, the highest daily level in more than five years. Repos are short-term loans the Fed extends to banks when they need immediate liquidity.</p>
<div class="lb-trans"><p>此外，我想指出一个与贵金属回调是否结束的讨论非常相关的事情，那就是在周五发生的一个非常不寻常且令人担忧的事件，当时隔夜回购需求激增至 294 亿美元，这是五年来的最高日水平。回购是美联储在银行需要立即流动性时提供的短期贷款。</p>
</div><p>When this number jumps sharply, it is not a normal occurrence, as it signals that strain is building behind the scenes in short-term funding markets. This kind of stress could ultimately set the stage for renewed asset purchases in the form of quantitative easing (QE), which would be highly bullish for precious metals and could easily provide the fuel to send gold to $5,000+ and silver to $80+.</p>
<div class="lb-trans"><p>当这个数字急剧上升时，这并不是正常现象，因为它表明短期融资市场的压力正在加大。这种压力最终可能为以量化宽松（QE）形式重新启动资产购买铺平道路，这将对贵金属极为看涨，并可能轻松为黄金提供推动力，使其达到 5000 美元以上，白银达到 80 美元以上。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-6-US-Federal-Reserve-Overnight-Repurchase-Agreements-Jesse-Colombo-Money-Metals-min.png" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-6-US-Federal-Reserve-Overnight-Repurchase-Agreements-Jesse-Colombo-Money-Metals-min.png"/></p>
<p>A return to quantitative easing (QE), which is essentially digital money printing, is only a matter of time. No government or central bank can resist using the printing press for very long if they have access to it, and that is the ultimate reason for owning precious metals.</p>
<div class="lb-trans"><p>回归量化宽松（QE），本质上就是数字货币印刷，已经只是时间问题。没有哪个政府或中央银行能够长时间抵制使用印刷机的诱惑，而这正是拥有贵金属的最终原因。</p>
</div><p>The Fed’s quantitative tightening (QT), or shrinking of its balance sheet, since 2022 has set the stage for the growing financial stress now emerging, which is reminiscent of what occurred in late 2019 and ultimately led to massive QE that was officially attributed to the COVID pandemic.</p>
<div class="lb-trans"><p>自 2022 年以来，美联储的量化紧缩（QT）或缩减资产负债表，为当前日益增长的金融压力奠定了基础，这种情况让人想起 2019 年底发生的事件，最终导致了大规模的 QE，这被官方归因于 COVID 疫情。</p>
</div><p>Notably, at last week’s meeting, the Fed announced it is ending the drawdown of its still-substantial balance sheet, citing signs that money market liquidity conditions are tightening and bank reserve levels are falling.</p>
<div class="lb-trans"><p>值得注意的是，在上周的会议上，美联储宣布结束其仍然相当可观的资产负债表的缩减，理由是货币市场流动性状况正在收紧，银行储备水平正在下降。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://www.moneymetals.com/uploads/content/Graph-7-Federal-Reserve-Balance-Sheet-Quantitative-Tightening-Jesse-Colombo-Money-Metals-min.jpg" alt="" original-src="https://www.moneymetals.com/uploads/content/Graph-7-Federal-Reserve-Balance-Sheet-Quantitative-Tightening-Jesse-Colombo-Money-Metals-min.jpg"/></p>
<p>To wrap up, precious metals are now oversold, which would typically set the stage for a rebound given the strong uptrend they remain in.</p>
<div class="lb-trans"><p>总的来说，贵金属目前被超卖，这通常会为反弹创造条件，因为它们仍处于强劲的上升趋势中。</p>
</div><p>However, I am waiting for one more thing to resolve, which is the intraday consolidation patterns currently forming in both gold and silver. How those patterns play out will also have a strong influence on the direction of mining stocks and the platinum group metals.</p>
<div class="lb-trans"><p>然而，我在等待另一个因素的解决，那就是目前在黄金和白银中形成的日内整合模式。这些模式的演变也将对矿业股票和铂族金属的方向产生强烈影响。</p>
</div><p>Another important factor to keep in mind, which may contribute to a rebound from here, is the alarming stress building in the financial system that is likely to eventually lead to another wave of digital money printing. As always, I’ll keep you updated on how this all plays out and what I’m seeing.</p>
<div class="lb-trans"><p>另一个需要记住的重要因素，可能会促成从这里的反弹，是金融系统中正在积聚的令人担忧的压力，这可能最终导致另一波数字货币印刷。像往常一样，我会随时更新这一切的发展和我所观察到的情况。</p>
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</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自此作者的文章：</em></p>
</div><p>Precious Metals Are Officially Oversold</p>
<div class="lb-trans"><p>贵金属正式被超卖</p>
</div><p>Why Precious Metals Are So Volatile Right Now</p>
<div class="lb-trans"><p>为什么贵金属现在如此波动</p>
</div><p>How To Know When The Precious Metals Pullback Is Over</p>
<div class="lb-trans"><p>如何判断贵金属回调何时结束</p>
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贵金属的回调是否已经结束？