<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/AI-generated-image-showing-commodities-stacked-together.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://invezz.com/wp-content/uploads/2026/01/AI-generated-image-showing-commodities-stacked-together.jpg"/></p>
<p>周三，黄金价格接近历史性的 5000 美元大关，首次突破每盎司 4800 美元。</p>
<p>与此同时，白银价格也在创纪录的高位徘徊，避险需求持续上升。</p>
<p>由于投资者评估哈萨克斯坦两个大型油田的停产和地缘政治紧张局势，油价在大部分时间内上涨。</p>
<p>周三，基本金属普遍表现强劲。特别是铜在周二动荡的交易后有所回升，期间现货与远期的价差明显扩大。</p>
<h2>黄金创下新高</h2>
<p>周三，COMEX 上的黄金价格创下每盎司 4890.35 美元的新高，首次突破 4800 美元大关。</p>
<p>由于美国与北约在格林兰问题上的紧张关系加剧，避险需求推动黄金价格在周三创下新纪录。</p>
<p>周二，唐纳德·特朗普重申了他强烈希望控制格林兰的愿望，包括可能采取武力。</p>
<p>美国总统定于周三抵达瑞士达沃斯的世界经济论坛。</p>
<p>尽管欧洲国家反对，他预计将在此次活动中进一步推动收购这座北极岛屿的努力。</p>
<p>然而，丹麦首相梅特·弗雷德里克森表示拒绝满足特朗普的要求，放弃格林兰。</p>
<p>在白宫对格林兰的威胁后，美元指数跌至两周低点，并在此徘徊，广泛的抛售影响了美国资产，包括货币、华尔街股票和国债。</p>
<p>美元贬值的意义重大，因为较弱的美元使以美元计价的金属对国际买家更为实惠。</p>
<p>“分析师们现在公开讨论 5000 美元黄金的前景，突显出市场情绪的紧张程度，” Trade Nation 的高级市场分析师大卫·莫里森表示。</p>
<blockquote>
<p>尽管黄金削减了一些日内涨幅，但整体背景仍然支持其上涨。</p>
</blockquote>
<p>白银价格略有回落，在接近每盎司 96 美元后进行整固。尽管如此，白银仍然受到持续的避险需求和普遍较弱的美元的支持。</p>
<p>“目前，黄金主导了市场叙事，但白银仍然在作为波动性丰富的伴随交易，” 莫里森说。</p>
<h2>油价上涨</h2>
<p>周三，油价上涨，受到多种因素的推动：哈萨克斯坦两个主要油田的临时停产、美国原油库存增加的预期，以及因美国对格林兰控制权的关税威胁而引发的新地缘政治紧张局势。</p>
<p>据路透社周三报道，天吉油田的运营商 TCO 已对原油交付 CPC 管道系统宣布不可抗力。</p>
<p>这一消息是在周二路透社的一篇报道之后发布的，该报道引用了三位行业消息人士，称这两个哈萨克油田的石油生产可能会再停产七到十天。</p>
<p>美国总统唐纳德·特朗普在周二重申了他对收购格林兰的坚定承诺，宣称 “没有回头路”。</p>
<p>这一声明是在他继续追求这座北极岛屿的背景下发布的，他上周承诺对欧洲盟友施加逐步加征的关税，直到美国被允许购买该岛。</p>
<p>然而，这些事态发展在一定程度上限制了油市的涨幅。</p>
<p>“自八月以来，原油确实突破了下行趋势。尽管从长远来看，图表并不那么看涨，” 莫里森说。</p>
<blockquote>
<p>从基本面来看，全球增长和贸易紧张局势的广泛担忧可能仍会限制上涨空间。</p>
</blockquote>
<p>在撰写本文时，西德克萨斯中质原油的价格为每桶 60.28 美元，与前一交易日基本持平。布伦特原油为每桶 64.83 美元。</p>
<h2>基本金属上涨</h2>
<p>伦敦金属交易所的三个月期铜合约交易价格上涨 0.9%，达到每吨 12,901.20 美元。三个月期铝合约为每吨 3,124.60 美元，上涨 0.2%。</p>
<p>美元走弱提升了基本金属的需求，因为这使得这些商品对海外买家更为便宜。</p>
<p>地缘政治紧张局势，特别是欧洲的不安和围绕格林兰的持续对峙，继续推动市场情绪。</p>
<p>这种整体的风险规避环境影响了各种资产类别。</p>
<p>然而，随着美元走软，商品找到了些许小支撑，美元跌破 98.5。</p>
<p>尽管美元走弱，国债收益率却小幅上升，反映出全球债券市场的广泛不稳定。</p>
<p>力拓最近的生产数据为市场带来了更稳定的基本面前景。</p>
<p>该矿业公司在第四季度铜产量增长了 5%，主要得益于蒙古 Oyu Tolgoi 地下作业的持续扩张。</p>
<p>此外，铁矿石的出货量增长了 7%；然而，全年总出口处于公司预测指导的下限。</p>
<p>“尽管整体基本金属市场仍然波动，但结构性紧张仍在支撑价格，” Britannia Global Markets 的金属负责人尼尔·韦尔什在一封电子邮件声明中表示。</p>
<blockquote>
<p>铜的期限结构明显的逆向市场表明，近期需求持续，受到美国资金流入和其他地方库存减少的放大。</p>
</blockquote>
<p>关于商品的总结：黄金在地缘政治紧张局势下突破 4800 美元；基本金属和油价上涨的文章首次出现在 Invezz 上。</p>

<p>黄金价格达到每盎司 4,890.35 美元的历史新高，主要受到地缘政治紧张局势（尤其是关于格林兰的局势）下避险需求的推动。白银价格也保持在接近历史高位。由于哈萨克斯坦两个主要油田的停产以及持续的地缘政治问题，油价上涨。包括铜和铝在内的基础金属表现强劲，受到美元走弱的支持。分析师们正在讨论黄金是否有可能达到 5,000 美元，而对全球经济增长和贸易紧张局势的担忧可能会限制油价和其他商品的进一步上涨</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2026/01/AI-generated-image-showing-commodities-stacked-together.jpg" alt="" original-src="https://invezz.com/wp-content/uploads/2026/01/AI-generated-image-showing-commodities-stacked-together.jpg"/></p>
<p>Gold prices edged closer to the historic $5,000 mark on Wednesday as the precious metal breached $4,800 per ounce for the first time ever.</p>
<div class="lb-trans"><p>周三，黄金价格接近历史性的 5000 美元大关，首次突破每盎司 4800 美元。</p>
</div><p>Meanwhile, silver prices also hovered near their record highs as safe-haven demand for the precious metals continued to rise.</p>
<div class="lb-trans"><p>与此同时，白银价格也在创纪录的高位徘徊，避险需求持续上升。</p>
</div><p>Oil prices rose for most of the day as investors assessed a shutdown at two large fields in Kazakhstan and geopolitical tensions.</p>
<div class="lb-trans"><p>由于投资者评估哈萨克斯坦两个大型油田的停产和地缘政治紧张局势，油价在大部分时间内上涨。</p>
</div><p>Base metals were generally showing strength on Wednesday. Copper, in particular, has recovered some ground after Tuesday’s turbulent session, which saw a noticeable spike in the tom-cash spread.</p>
<div class="lb-trans"><p>周三，基本金属普遍表现强劲。特别是铜在周二动荡的交易后有所回升，期间现货与远期的价差明显扩大。</p>
</div><h2>Gold hits record high</h2>
<div class="lb-trans"><h2>黄金创下新高</h2>
</div><p>On Wednesday, gold prices on COMEX hit a new record high of $4,890.35 per ounce, breaching the $4,800 mark for the first time ever.</p>
<div class="lb-trans"><p>周三，COMEX 上的黄金价格创下每盎司 4890.35 美元的新高，首次突破 4800 美元大关。</p>
</div><p>Safe-haven demand, fueled by increasing tension between the United States and NATO regarding Greenland, drove gold prices to a new record on Wednesday.</p>
<div class="lb-trans"><p>由于美国与北约在格林兰问题上的紧张关系加剧，避险需求推动黄金价格在周三创下新纪录。</p>
</div><p>On Tuesday, Donald Trump reiterated his staunch desire to take control of Greenland, including the possibility of doing so by force.</p>
<div class="lb-trans"><p>周二，唐纳德·特朗普重申了他强烈希望控制格林兰的愿望，包括可能采取武力。</p>
</div><p>The US President is scheduled to arrive at the World Economic Forum in Davos, Switzerland, on Wednesday.</p>
<div class="lb-trans"><p>美国总统定于周三抵达瑞士达沃斯的世界经济论坛。</p>
</div><p>He is expected to leverage the event to further his efforts to acquire the Arctic island, despite objections from European nations.</p>
<div class="lb-trans"><p>尽管欧洲国家反对，他预计将在此次活动中进一步推动收购这座北极岛屿的努力。</p>
</div><p>However, Danish Prime Minister Mette Frederiksen has stated her refusal to accede to Trump’s demands and relinquish Greenland.</p>
<div class="lb-trans"><p>然而，丹麦首相梅特·弗雷德里克森表示拒绝满足特朗普的要求，放弃格林兰。</p>
</div><p>Following White House threats concerning Greenland, the dollar index reached a two-week low, hovering there as a broad selloff impacted US assets, including the currency, Wall Street stocks, and Treasury bonds.</p>
<div class="lb-trans"><p>在白宫对格林兰的威胁后，美元指数跌至两周低点，并在此徘徊，广泛的抛售影响了美国资产，包括货币、华尔街股票和国债。</p>
</div><p>This depreciation in the dollar is significant because a weaker greenback makes metals priced in US dollars more affordable for international buyers.</p>
<div class="lb-trans"><p>美元贬值的意义重大，因为较弱的美元使以美元计价的金属对国际买家更为实惠。</p>
</div><p>“Analysts now openly discuss the prospect of $5,000 gold, underscoring how stretched sentiment has become,” said David Morrison, senior market analyst at Trade Nation.</p>
<div class="lb-trans"><p>“分析师们现在公开讨论 5000 美元黄金的前景，突显出市场情绪的紧张程度，” Trade Nation 的高级市场分析师大卫·莫里森表示。</p>
</div><blockquote>
<p>While gold has trimmed some of its intraday gains, the broader backdrop remains supportive.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>尽管黄金削减了一些日内涨幅，但整体背景仍然支持其上涨。</p>
</blockquote>
</div><p>Silver prices have cooled somewhat, consolidating after an approach toward $96 per ounce. Despite this, silver continues to be supported by ongoing safe-haven demand and a generally weaker dollar.</p>
<div class="lb-trans"><p>白银价格略有回落，在接近每盎司 96 美元后进行整固。尽管如此，白银仍然受到持续的避险需求和普遍较弱的美元的支持。</p>
</div><p>“For now, gold dominates the narrative, but silver continues in its role as a volatility-rich companion trade,” Morrison said.</p>
<div class="lb-trans"><p>“目前，黄金主导了市场叙事，但白银仍然在作为波动性丰富的伴随交易，” 莫里森说。</p>
</div><h2>Oil moves higher</h2>
<div class="lb-trans"><h2>油价上涨</h2>
</div><p>On Wednesday, oil prices climbed, driven by several factors: a temporary halt in operations at two major Kazakh fields, anticipation of an increase in US crude inventories, and new geopolitical tensions stemming from US tariff threats in connection with its efforts to gain control of Greenland.</p>
<div class="lb-trans"><p>周三，油价上涨，受到多种因素的推动：哈萨克斯坦两个主要油田的临时停产、美国原油库存增加的预期，以及因美国对格林兰控制权的关税威胁而引发的新地缘政治紧张局势。</p>
</div><p>The operator of the Tengiz oilfield, TCO, has declared force majeure on crude oil deliveries into the CPC pipeline system, according to a TCO letter reported by Reuters on Wednesday.</p>
<div class="lb-trans"><p>据路透社周三报道，天吉油田的运营商 TCO 已对原油交付 CPC 管道系统宣布不可抗力。</p>
</div><p>This news follows a Tuesday Reuters report, which cited three industry sources, suggesting that oil production at the two Kazakh fields could be halted for an additional seven to ten days.</p>
<div class="lb-trans"><p>这一消息是在周二路透社的一篇报道之后发布的，该报道引用了三位行业消息人士，称这两个哈萨克油田的石油生产可能会再停产七到十天。</p>
</div><p>US President Donald Trump reiterated his unwavering commitment to acquiring Greenland on Tuesday, declaring “no going back” on the goal.</p>
<div class="lb-trans"><p>美国总统唐纳德·特朗普在周二重申了他对收购格林兰的坚定承诺，宣称 “没有回头路”。</p>
</div><p>This statement came as he continued to pursue the Arctic island, having vowed last week to impose escalating tariffs on European allies until the US is permitted to purchase it.</p>
<div class="lb-trans"><p>这一声明是在他继续追求这座北极岛屿的背景下发布的，他上周承诺对欧洲盟友施加逐步加征的关税，直到美国被允许购买该岛。</p>
</div><p>These developments, however, acted as a ceiling, limiting gains in the oil market.</p>
<div class="lb-trans"><p>然而，这些事态发展在一定程度上限制了油市的涨幅。</p>
</div><p>“Crude oil has certainly broken out of its downtrend since August. Although the chart isn’t quite as bullish on a longer perspective,” Morrison said.</p>
<div class="lb-trans"><p>“自八月以来，原油确实突破了下行趋势。尽管从长远来看，图表并不那么看涨，” 莫里森说。</p>
</div><blockquote>
<p>Fundamentally, the upside may still be capped by broader concerns around global growth and trade tensions.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>从基本面来看，全球增长和贸易紧张局势的广泛担忧可能仍会限制上涨空间。</p>
</blockquote>
</div><p>At the time of writing, the price of West Texas Intermediate crude oil was at $60.28 per barrel, largely unchanged from the previous close. Brent was at $64.83 per barrel.</p>
<div class="lb-trans"><p>在撰写本文时，西德克萨斯中质原油的价格为每桶 60.28 美元，与前一交易日基本持平。布伦特原油为每桶 64.83 美元。</p>
</div><h2>Base metals rise</h2>
<div class="lb-trans"><h2>基本金属上涨</h2>
</div><p>The three-month copper contract was trading 0.9% higher at $12,901.20 per ton on the London Metal Exchange. The three-month aluminium contract was at $3,124.60 per ton, up 0.2%.</p>
<div class="lb-trans"><p>伦敦金属交易所的三个月期铜合约交易价格上涨 0.9%，达到每吨 12,901.20 美元。三个月期铝合约为每吨 3,124.60 美元，上涨 0.2%。</p>
</div><p>A weaker dollar boosted demand for the base metals as it made the commodities cheaper for overseas buyers.</p>
<div class="lb-trans"><p>美元走弱提升了基本金属的需求，因为这使得这些商品对海外买家更为便宜。</p>
</div><p>Geopolitical tensions, particularly the renewed unease in Europe and the ongoing standoff concerning Greenland, continue to drive market sentiment.</p>
<div class="lb-trans"><p>地缘政治紧张局势，特别是欧洲的不安和围绕格林兰的持续对峙，继续推动市场情绪。</p>
</div><p>This overall risk-off environment affected various asset classes.</p>
<div class="lb-trans"><p>这种整体的风险规避环境影响了各种资产类别。</p>
</div><p>However, commodities found some minor support as the dollar softened, with the greenback falling below 98.5.</p>
<div class="lb-trans"><p>然而，随着美元走软，商品找到了些许小支撑，美元跌破 98.5。</p>
</div><p>Despite the weaker dollar, Treasury yields ticked up, reflecting the broader instability in global bond markets.</p>
<div class="lb-trans"><p>尽管美元走弱，国债收益率却小幅上升，反映出全球债券市场的广泛不稳定。</p>
</div><p>Rio Tinto’s recent production figures introduced a more stable fundamental outlook to the market.</p>
<div class="lb-trans"><p>力拓最近的生产数据为市场带来了更稳定的基本面前景。</p>
</div><p>The mining company saw a 5 percent increase in copper output during the fourth quarter, primarily driven by the ongoing expansion of underground operations at Oyu Tolgoi in Mongolia.</p>
<div class="lb-trans"><p>该矿业公司在第四季度铜产量增长了 5%，主要得益于蒙古 Oyu Tolgoi 地下作业的持续扩张。</p>
</div><p>Furthermore, iron ore shipments rose by 7 percent; however, the total exports for the full year were at the lower boundary of the company’s projected guidance.</p>
<div class="lb-trans"><p>此外，铁矿石的出货量增长了 7%；然而，全年总出口处于公司预测指导的下限。</p>
</div><p>“While the broader base metals complex remains volatile, structural tightness continues to underpin prices,” Neil Welsh, head of metals at Britannia Global Markets, said in an emailed statement.</p>
<div class="lb-trans"><p>“尽管整体基本金属市场仍然波动，但结构性紧张仍在支撑价格，” Britannia Global Markets 的金属负责人尼尔·韦尔什在一封电子邮件声明中表示。</p>
</div><blockquote>
<p>The pronounced backwardation in copper’s term structure suggests persistent near‑term demand, magnified by US inflows and dwindling inventories elsewhere.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>铜的期限结构明显的逆向市场表明，近期需求持续，受到美国资金流入和其他地方库存减少的放大。</p>
</blockquote>
</div><p>The post Commodity wrap: gold tops $4,800 on geopolitical jitters; base metals, oil climb appeared first on Invezz</p>
<div class="lb-trans"><p>关于商品的总结：黄金在地缘政治紧张局势下突破 4800 美元；基本金属和油价上涨的文章首次出现在 Invezz 上。</p>
</div>

Commodity wrap: gold tops $4,800 on geopolitical jitters; base metals, oil climb

invezz

USCF Sustainable Commodity Strategy Fund ETF

Sprott Silver Mnrs & Physical Silver ETF

美国油气勘探与生产 ETF - iShares

阿尼科伊格尔矿业

环球银矿 MSCI ETF - iShares

Harbor Commodity All Weather Strategy ETF

纽蒙特矿业

Sprott Active Gold & Silver Miners ETF

自由港迈克墨伦铜金矿

美国铜指数基金 - Concierge Technologies

Gold.com

全球金属和采矿生产商 MSCI ETF - iShares

黄金 ETF - iShares

Sprott Copper Miners ETF

iShares Copper and Metals Mining ETF

商品综述：受地缘政治紧张局势影响，黄金价格突破 4800 美元；基础金属和石油价格上涨