<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/AI-image-of-commodities.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1152" height="720" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/AI-image-of-commodities.png"/></p>
<p>在本周最后一个交易日，黄金和白银价格上涨，投资者在等待关键经济数据的发布。</p>
<p>贵金属在新年开始时价值有所上升。</p>
<p>然而，这些涨幅低于两周前达到的峰值，此前在去年年底出现了显著下跌。</p>
<p>由于对伊朗和委内瑞拉供应中断的担忧，油价在周五也上涨。</p>
<p>基本金属价格也在上涨，因为合约在经历了波动的一周后即将结束。</p>
<h2>黄金和白银上涨</h2>
<p>在关键的美国就业数据发布前的谨慎情绪使得投资者在周五保持观望，导致黄金价格基本稳定。</p>
<p>然而，美元的强势限制了涨幅。</p>
<p>美元走强使得以美元计价的商品对海外投资者而言变得更加昂贵，从而限制了需求。</p>
<p>由于市场预期最高法院即将就特朗普总统使用紧急关税的权力作出裁决，美元达到了一个月来的峰值。</p>
<p>与此同时，路透社的调查预测，上个月美国非农就业人数可能增长 60,000 个，失业率预计将降至 4.5%。</p>
<p>美国利率下调的前景可能因美国劳动力市场报告不佳而增强。</p>
<p>“然而，我们预计美联储在一月份将保持不变，等待更多数据点，” 德国商业银行的商品分析师 Barbara Lambrecht 在一份报告中表示。</p>
<p>美联储基金期货目前预计到三月份将降息 25 个基点的可能性不足一半。</p>
<p>与此同时，COMEX 上的白银价格在撰写时上涨了 3.6%，达到每盎司 77.817 美元。</p>
<h2>油价有望实现强劲周涨幅</h2>
<p>由于对伊朗石油产量潜在中断的担忧，以及对委内瑞拉供应的不确定性，油价在周五上涨。</p>
<p>在撰写时，西德克萨斯中质原油的价格为每桶 58.30 美元，上涨 0.9%；布伦特原油的价格为每桶 62.57 美元，也上涨 0.9%。</p>
<p>在连续两天下跌后，周四两个基准油价均上涨超过 3%。</p>
<p>这使得布伦特原油有望实现 2.8% 的周涨幅，而 WTI 则获得了 1.5% 的周涨幅。</p>
<p>由于主要中东生产国伊朗的内乱加剧，以及对俄罗斯 - 乌克兰战争可能干扰俄罗斯石油出口的担忧，供应问题愈发严重。</p>
<p>在相关发展中，白宫计划于周五与石油公司和贸易公司会面，讨论与委内瑞拉的潜在石油出口交易。</p>
<p>此次会议是在美国于周六捕获委内瑞拉总统尼古拉斯·马杜罗几天后举行的。</p>
<p>在捕获后，特朗普要求美国全面接管委内瑞拉的石油部门，美国官员表示华盛顿将无限期控制该国的石油销售和收入。</p>
<p>“尽管如此，围绕委内瑞拉局势的新闻流动可能在短期内继续困扰油市，” Lambrecht 表示。</p>
<blockquote>
<p>关注的不仅是美国的行动，还有委内瑞拉盟友俄罗斯和中国的进一步反应，中国是委内瑞拉石油的主要买家。</p>
</blockquote>
<h2>铜价上涨约 2%</h2>
<p>伦敦金属交易所铜价创下历史新高，超过每吨 13,000 美元，导致中国工业用户的需求下降。</p>
<p>中国工业消费了全球一半的铜，正努力吸收这些高昂的成本，导致产量减少和库存上升，因为它无法轻易将价格上涨转嫁给制造商。</p>
<p>尽管如此，预计在年内条件会有所改善。</p>
<p>这种乐观情绪受到新兴能源和人工智能领域铜消费增长的推动，以及旨在促进国内消费的政府支持措施的影响，Britannia Global Markets 的金属负责人 Neil Welsh 表示。</p>
<p>在撰写时，LME 三个月期铜合约的价格为每吨 12,965.55 美元，比前一交易日上涨 2.1%。</p>
<p>商品综述：黄金、白银上涨，伊朗供应中断的担忧推动油价上涨，首发于 Invezz。</p>

<p>黄金和白银价格上涨，投资者在等待关键经济数据的同时，油价因对伊朗和委内瑞拉供应中断的担忧而上涨。美元的强势限制了贵金属的涨幅。油价上涨，WTI 原油每桶 58.30 美元，布伦特原油每桶 62.57 美元。铜价飙升至创纪录的每吨超过 13,000 美元，但来自中国工业用户的需求有所下降。分析师预计，由于对新能源和人工智能领域的增长预期，年内条件将改善</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/AI-image-of-commodities.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/11/AI-image-of-commodities.png"/></p>
<p>Gold and silver prices were higher on the last trading day of the week as investors waited for key economic data releases.</p>
<div class="lb-trans"><p>在本周最后一个交易日，黄金和白银价格上涨，投资者在等待关键经济数据的发布。</p>
</div><p>Precious metals have started the new year with an increase in value.</p>
<div class="lb-trans"><p>贵金属在新年开始时价值有所上升。</p>
</div><p>However, these gains are less than the peaks reached just under two weeks ago, following a significant drop at the close of the previous year.</p>
<div class="lb-trans"><p>然而，这些涨幅低于两周前达到的峰值，此前在去年年底出现了显著下跌。</p>
</div><p>Oil prices were also higher on Friday as concerns over supply disruption in Iran and Venezuela boosted sentiment.</p>
<div class="lb-trans"><p>由于对伊朗和委内瑞拉供应中断的担忧，油价在周五也上涨。</p>
</div><p>Base metal prices were also trading in the green as the contracts headed for the end of a volatile week.</p>
<div class="lb-trans"><p>基本金属价格也在上涨，因为合约在经历了波动的一周后即将结束。</p>
</div><h2>Gold and silver rise</h2>
<div class="lb-trans"><h2>黄金和白银上涨</h2>
</div><p>Caution ahead of crucial US employment data kept investors on the sidelines on Friday, resulting in largely steady gold prices.</p>
<div class="lb-trans"><p>在关键的美国就业数据发布前的谨慎情绪使得投资者在周五保持观望，导致黄金价格基本稳定。</p>
</div><p>Gains were capped, however, by the dollar’s strength.</p>
<div class="lb-trans"><p>然而，美元的强势限制了涨幅。</p>
</div><p>A stronger dollar makes commodities priced in the greenback more expensive for overseas investors, thereby limiting demand.</p>
<div class="lb-trans"><p>美元走强使得以美元计价的商品对海外投资者而言变得更加昂贵，从而限制了需求。</p>
</div><p>The US dollar reached a one-month peak as markets anticipated an imminent Supreme Court ruling regarding President Donald Trump’s authority to use emergency tariffs.</p>
<div class="lb-trans"><p>由于市场预期最高法院即将就特朗普总统使用紧急关税的权力作出裁决，美元达到了一个月来的峰值。</p>
</div><p>Meanwhile, a Reuters survey forecasts that US nonfarm payrolls likely grew by 60,000 jobs last month, with the unemployment rate expected to dip to 4.5%.</p>
<div class="lb-trans"><p>与此同时，路透社的调查预测，上个月美国非农就业人数可能增长 60,000 个，失业率预计将降至 4.5%。</p>
</div><p>The prospect of US interest rate cuts could be strengthened by a disappointing US labour market report.</p>
<div class="lb-trans"><p>美国利率下调的前景可能因美国劳动力市场报告不佳而增强。</p>
</div><p>“However, we expect the Fed to hold steady in January and wait for further data points,” Barbara Lambrecht, commodity analyst at Commerzbank AG, said in a report.</p>
<div class="lb-trans"><p>“然而，我们预计美联储在一月份将保持不变，等待更多数据点，” 德国商业银行的商品分析师 Barbara Lambrecht 在一份报告中表示。</p>
</div><p>Fed Funds Futures are now pricing in less than half of a 25 basis point rate cut by March.</p>
<div class="lb-trans"><p>美联储基金期货目前预计到三月份将降息 25 个基点的可能性不足一半。</p>
</div><p>Meanwhile, silver prices on COMEX were 3.6% higher at $77.817 per ounce at the time of writing.</p>
<div class="lb-trans"><p>与此同时，COMEX 上的白银价格在撰写时上涨了 3.6%，达到每盎司 77.817 美元。</p>
</div><h2>Oil set for strong weekly gains</h2>
<div class="lb-trans"><h2>油价有望实现强劲周涨幅</h2>
</div><p>Concerns over potential disruptions to oil output from Iran, coupled with uncertainty regarding Venezuela’s supply, drove oil prices higher on Friday.</p>
<div class="lb-trans"><p>由于对伊朗石油产量潜在中断的担忧，以及对委内瑞拉供应的不确定性，油价在周五上涨。</p>
</div><p>At the time of writing, the price of West Texas Intermediate crude oil was at $58.30 per barrel, up 0.9%, while Brent was at $62.57 a barrel, also up 0.9% from the previous close.</p>
<div class="lb-trans"><p>在撰写时，西德克萨斯中质原油的价格为每桶 58.30 美元，上涨 0.9%；布伦特原油的价格为每桶 62.57 美元，也上涨 0.9%。</p>
</div><p>Following two consecutive days of declines, both benchmarks saw a gain of over 3% on Thursday.</p>
<div class="lb-trans"><p>在连续两天下跌后，周四两个基准油价均上涨超过 3%。</p>
</div><p>This puts Brent on track for a weekly climb of 2.8%, while WTI has secured a 1.5% gain for the week.</p>
<div class="lb-trans"><p>这使得布伦特原油有望实现 2.8% 的周涨幅，而 WTI 则获得了 1.5% 的周涨幅。</p>
</div><p>Supply concerns have intensified due to civil unrest in major Middle Eastern producer Iran and fears that the Russia-Ukraine war could disrupt Russian oil exports.</p>
<div class="lb-trans"><p>由于主要中东生产国伊朗的内乱加剧，以及对俄罗斯 - 乌克兰战争可能干扰俄罗斯石油出口的担忧，供应问题愈发严重。</p>
</div><p>In a related development, the White House is scheduled to meet with oil companies and trading houses on Friday to discuss potential oil export deals with Venezuela.</p>
<div class="lb-trans"><p>在相关发展中，白宫计划于周五与石油公司和贸易公司会面，讨论与委内瑞拉的潜在石油出口交易。</p>
</div><p>This meeting comes just days after the US captured Venezuelan President Nicolas Maduro on Saturday.</p>
<div class="lb-trans"><p>此次会议是在美国于周六捕获委内瑞拉总统尼古拉斯·马杜罗几天后举行的。</p>
</div><p>Following the capture, Trump demanded full US access to Venezuela’s oil sector, with American officials stating that Washington will maintain control over the country’s oil sales and revenue indefinitely.</p>
<div class="lb-trans"><p>在捕获后，特朗普要求美国全面接管委内瑞拉的石油部门，美国官员表示华盛顿将无限期控制该国的石油销售和收入。</p>
</div><p>“Nevertheless, the flow of news surrounding the situation in Venezuela is likely to continue to preoccupy the oil market in the short term,” Lambrecht said.</p>
<div class="lb-trans"><p>“尽管如此，围绕委内瑞拉局势的新闻流动可能在短期内继续困扰油市，” Lambrecht 表示。</p>
</div><blockquote>
<p>It is not only the actions of the US that are of interest, but also the further reactions of Venezuela’s ally Russia and China, which has been a major buyer of Venezuelan oil.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>关注的不仅是美国的行动，还有委内瑞拉盟友俄罗斯和中国的进一步反应，中国是委内瑞拉石油的主要买家。</p>
</blockquote>
</div><h2>Copper surges around 2%</h2>
<div class="lb-trans"><h2>铜价上涨约 2%</h2>
</div><p>Record-high prices, with copper exceeding $13,000 per ton on the London Metal Exchange, have led to decreased demand from Chinese industrial users.</p>
<div class="lb-trans"><p>伦敦金属交易所铜价创下历史新高，超过每吨 13,000 美元，导致中国工业用户的需求下降。</p>
</div><p>Chinese industry, which consumes half the world’s copper, is struggling to absorb these elevated costs, resulting in reduced output and rising inventories, as it cannot easily pass the price increases to manufacturers.</p>
<div class="lb-trans"><p>中国工业消费了全球一半的铜，正努力吸收这些高昂的成本，导致产量减少和库存上升，因为它无法轻易将价格上涨转嫁给制造商。</p>
</div><p>Nevertheless, an eventual improvement in conditions is anticipated later in the year.</p>
<div class="lb-trans"><p>尽管如此，预计在年内条件会有所改善。</p>
</div><p>This optimism is fueled by expected copper consumption growth in the new energy and artificial intelligence sectors, alongside supportive government measures aimed at boosting domestic consumption, according to Neil Welsh, head of metals at Britannia Global Markets.</p>
<div class="lb-trans"><p>这种乐观情绪受到新兴能源和人工智能领域铜消费增长的推动，以及旨在促进国内消费的政府支持措施的影响，Britannia Global Markets 的金属负责人 Neil Welsh 表示。</p>
</div><p>At the time of writing, the three-month copper contract on LME was at $12,965.55 per ton, up 2.1% from the previous close.</p>
<div class="lb-trans"><p>在撰写时，LME 三个月期铜合约的价格为每吨 12,965.55 美元，比前一交易日上涨 2.1%。</p>
</div><p>The post Commodity wrap: gold, silver rise, fears of disruptions in Iran boost oil appeared first on Invezz</p>
<div class="lb-trans"><p>商品综述：黄金、白银上涨，伊朗供应中断的担忧推动油价上涨，首发于 Invezz。</p>
</div>

商品综述：黄金和白银价格上涨，伊朗局势的扰动担忧推动油价上升