<p>周二，黄金价格跌至三周低点，因为能源价格因美国与伊朗之间的谈判停滞而上涨。</p>
<p>与此同时，由于霍尔木兹海峡仍然关闭，原油价格大幅上涨，从而影响了货物的自由流动。</p>
<p>然而，随着阿联酋宣布将于 5 月 1 日退出石油输出国组织，油价的部分涨幅被削减。</p>
<p>投资者正在评估工业金属的需求前景，由于中东冲突，需求受到抑制，铜价连续第三天下跌。</p>
<p>美国官员目前正在审查伊朗的最新提案，但白宫重申了其不可谈判的 “红线”，例如防止德黑兰获得核武器，这导致铜期货价格下跌。</p>
<p>截至撰写时，伦敦金属交易所的三个月铜合约价格为每吨 13,036 美元，下跌 1.4%。</p>
<p><strong>油价飙升；阿联酋退出 OPEC</strong></p>
<p>由于中东供应受到限制，霍尔木兹海峡大部分时间关闭，油价周二上涨超过 3%。</p>
<p>然而，在阿联酋宣布将退出 OPEC 和 OPEC+ 后，油价的涨幅有所减小。</p>
<p>阿联酋周二宣布退出 OPEC 和 OPEC+，这一举动显著削弱了这些石油出口组织，特别是对其主要领导国沙特阿拉伯的影响。</p>
<p>“失去一个日均产能为 480 万桶，并有意生产更多的成员，实际上是削弱了该组织的实力，” Rystad Energy 的地缘政治分析负责人 Jorge Leon 在一封电子邮件评论中表示。</p>
<p>“随着需求接近峰值，低成本原油生产者的计算正在迅速变化，等待在配额系统内轮到你似乎开始看起来像是在放弃利润。”</p>
<p>沙特阿拉伯现在需要承担更多的价格稳定重任，而市场失去了为数不多的缓冲器之一。</p>
<p>Jorge Leon Rystad Energy 地缘政治分析负责人</p>
<p>与此同时，美国总统唐纳德·特朗普对伊朗结束战争的最新提案表示不满，周一一位官员透露。</p>
<p>由于特朗普拒绝了该提案，冲突仍然僵持不下。</p>
<p>作为回应，伊朗关闭了霍尔木兹海峡，该海峡处理着全球约 20% 的石油和天然气供应，而美国则维持对伊朗港口的封锁。</p>
<p>布伦特原油合约最后报 111.16 美元/桶，上涨 2.6%。当天早些时候曾上涨至 112.70 美元。</p>
<p><strong>黄金下滑</strong></p>
<p>周二，黄金价格跌至三周以来的最低点。</p>
<p>这一下跌发生在市场评估通胀和利率担忧的背景下，预计即将有几次中央银行的决策。</p>
<p>价格波动跟随油价上涨，此前美国与伊朗的谈判停滞不前。</p>
<p>由于伊朗与美国之间谈判的最新失败，黄金价格持续下跌。</p>
<p>此次下跌紧随美国总统特朗普明显拒绝伊朗领导层关于重新开放霍尔木兹海峡的提案。</p>
<p>市场最近开始预期美国联邦储备委员会可能在今年晚些时候降息，现在则倾向于预期利率将保持不变。</p>
<p>“如果油价继续上涨，市场参与者甚至可能开始重新定价加息，就像他们在三月中旬所做的那样，” Commerzbank AG 的外汇和商品研究负责人 Thu Lan Nguyen 在一份报告中表示。</p>
<p>“在这种情况下，黄金价格可能会像那时一样回落至每盎司 4,500 美元。”</p>
<p>COMEX 上的黄金价格跌至每盎司 4,567.75 美元，比前一交易日下跌 2.4%。COMEX 上的白银价格下跌 3.3%，至每盎司 72.535 美元。</p>

GOLD

纽蒙特矿业

<p>由于中东供应限制，油价上涨超过 3%，但在阿联酋宣布退出 OPEC 后，涨幅有所回落，这影响了该组织的影响力。由于通胀担忧和美伊谈判停滞，黄金跌至三周低点，COMEX 上的价格降至每盎司 4,567.75 美元。市场现在正在重新评估利率预期，如果油价继续上涨，可能会对黄金价格产生影响</p>

<p>Gold slumped to a three-week low on Tuesday as energy prices climbed due to stalled negotiations between the US and Iran.</p>
<div class="lb-trans"><p>周二，黄金价格跌至三周低点，因为能源价格因美国与伊朗之间的谈判停滞而上涨。</p>
</div><p>Meanwhile, crude oil rose sharply as the Strait of Hormuz remained shut, thereby affecting the free flow of shipments.</p>
<div class="lb-trans"><p>与此同时，由于霍尔木兹海峡仍然关闭，原油价格大幅上涨，从而影响了货物的自由流动。</p>
</div><p>However, oil prices trimmed some gains as the United Arab Emirates announced that it will leave the Organization of the Petroleum Exporting Countries from May 1.</p>
<div class="lb-trans"><p>然而，随着阿联酋宣布将于 5 月 1 日退出石油输出国组织，油价的部分涨幅被削减。</p>
</div><p>Investors are assessing the demand outlook for industrial metals, which has been dampened by the Middle East conflict, as copper extended its decline for a third consecutive day.</p>
<div class="lb-trans"><p>投资者正在评估工业金属的需求前景，由于中东冲突，需求受到抑制，铜价连续第三天下跌。</p>
</div><p>US officials are currently reviewing Iran's latest proposal, but the White House reiterated its non-negotiable &#34;red lines,&#34; such as preventing Tehran from acquiring a nuclear weapon, leading to a dip in copper futures.</p>
<div class="lb-trans"><p>美国官员目前正在审查伊朗的最新提案，但白宫重申了其不可谈判的 “红线”，例如防止德黑兰获得核武器，这导致铜期货价格下跌。</p>
</div><p>At the time of writing, the three-month copper contract on the London Metal Exchange was at $13,036 per ton, down 1.4%.</p>
<div class="lb-trans"><p>截至撰写时，伦敦金属交易所的三个月铜合约价格为每吨 13,036 美元，下跌 1.4%。</p>
</div><p><strong>Oil surges; UAE leaves OPEC</strong></p>
<div class="lb-trans"><p><strong>油价飙升；阿联酋退出 OPEC</strong></p>
</div><p>Oil prices climbed over 3% on Tuesday due to Middle East supplies being restricted because the Strait of Hormuz remained mostly closed amid stalled efforts to conclude the Iran war.</p>
<div class="lb-trans"><p>由于中东供应受到限制，霍尔木兹海峡大部分时间关闭，油价周二上涨超过 3%。</p>
</div><p>However, gains in oil were reduced somewhat following the UAE's announcement that it would exit both OPEC and OPEC+.</p>
<div class="lb-trans"><p>然而，在阿联酋宣布将退出 OPEC 和 OPEC+ 后，油价的涨幅有所减小。</p>
</div><p>The United Arab Emirates announced its withdrawal from OPEC and OPEC+ on Tuesday, an action that significantly weakened the oil-exporting groups, particularly impacting their key leader, Saudi Arabia.</p>
<div class="lb-trans"><p>阿联酋周二宣布退出 OPEC 和 OPEC+，这一举动显著削弱了这些石油出口组织，特别是对其主要领导国沙特阿拉伯的影响。</p>
</div><p>“Losing a member with 4.8 million barrels per day of capacity, and the ambition to produce more, takes a real tool out of the group's hands,” Jorge Leon, head of geopolitical analysis at Rystad Energy, said in an emailed commentary.</p>
<div class="lb-trans"><p>“失去一个日均产能为 480 万桶，并有意生产更多的成员，实际上是削弱了该组织的实力，” Rystad Energy 的地缘政治分析负责人 Jorge Leon 在一封电子邮件评论中表示。</p>
</div><p>“With demand nearing a peak, the calculation for producers with low-cost barrels is changing fast, and waiting your turn inside a quota system starts to look like leaving money on the table.”</p>
<div class="lb-trans"><p>“随着需求接近峰值，低成本原油生产者的计算正在迅速变化，等待在配额系统内轮到你似乎开始看起来像是在放弃利润。”</p>
</div><p>Saudi Arabia is now left doing more of the heavy lifting on price stability, and the market loses one of the few shock absorbers it had left.</p>
<div class="lb-trans"><p>沙特阿拉伯现在需要承担更多的价格稳定重任，而市场失去了为数不多的缓冲器之一。</p>
</div><p>Jorge LeonHead of geopolitical analysis at Rystad Energy</p>
<div class="lb-trans"><p>Jorge Leon Rystad Energy 地缘政治分析负责人</p>
</div><p>Meanwhile, US President Donald Trump expressed dissatisfaction with the latest proposal from Iran to end the war, according to an official on Monday.</p>
<div class="lb-trans"><p>与此同时，美国总统唐纳德·特朗普对伊朗结束战争的最新提案表示不满，周一一位官员透露。</p>
</div><p>The conflict remains deadlocked due to Trump's rejection of the offer.</p>
<div class="lb-trans"><p>由于特朗普拒绝了该提案，冲突仍然僵持不下。</p>
</div><p>In response, Iran has closed the Strait, which handles roughly 20% of the world's oil and gas supplies, while the US maintains its blockade of Iranian ports.</p>
<div class="lb-trans"><p>作为回应，伊朗关闭了霍尔木兹海峡，该海峡处理着全球约 20% 的石油和天然气供应，而美国则维持对伊朗港口的封锁。</p>
</div><p>The Brent crude contract was last at $111.16 per barrel, up 2.6%. It had risen to $112.70 earlier in the day.</p>
<div class="lb-trans"><p>布伦特原油合约最后报 111.16 美元/桶，上涨 2.6%。当天早些时候曾上涨至 112.70 美元。</p>
</div><p><strong>Gold slips</strong></p>
<div class="lb-trans"><p><strong>黄金下滑</strong></p>
</div><p>Gold prices dropped to their lowest point in over three weeks on Tuesday.</p>
<div class="lb-trans"><p>周二，黄金价格跌至三周以来的最低点。</p>
</div><p>This decline occurred as markets assessed inflation and interest-rate worries, anticipating several upcoming central bank decisions.</p>
<div class="lb-trans"><p>这一下跌发生在市场评估通胀和利率担忧的背景下，预计即将有几次中央银行的决策。</p>
</div><p>The price movement followed a rise in oil prices, which came after US–Iran talks stalled.</p>
<div class="lb-trans"><p>价格波动跟随油价上涨，此前美国与伊朗的谈判停滞不前。</p>
</div><p>The gold price is experiencing a continued decline due to the latest failure in negotiations between Iran and the United States.</p>
<div class="lb-trans"><p>由于伊朗与美国之间谈判的最新失败，黄金价格持续下跌。</p>
</div><p>The drop follows US President Trump's apparent rejection of a proposal from the Iranian leadership concerning the reopening of the Strait of Hormuz.</p>
<div class="lb-trans"><p>此次下跌紧随美国总统特朗普明显拒绝伊朗领导层关于重新开放霍尔木兹海峡的提案。</p>
</div><p>The market, which had recently begun to anticipate the US Federal Reserve might cut interest rates later this year, is now leaning towards the expectation that rates will remain unchanged.</p>
<div class="lb-trans"><p>市场最近开始预期美国联邦储备委员会可能在今年晚些时候降息，现在则倾向于预期利率将保持不变。</p>
</div><p>“If the increase in oil prices continues, market participants could even start pricing in an interest rate hike again, as they did in mid‑March,” Thu Lan Nguyen, head of FX and commodity research at Commerzbank AG, said in a report.</p>
<div class="lb-trans"><p>“如果油价继续上涨，市场参与者甚至可能开始重新定价加息，就像他们在三月中旬所做的那样，” Commerzbank AG 的外汇和商品研究负责人 Thu Lan Nguyen 在一份报告中表示。</p>
</div><p>“In that case, the gold price could, as it did then, fall back towards USD 4,500 per troy ounce.”</p>
<div class="lb-trans"><p>“在这种情况下，黄金价格可能会像那时一样回落至每盎司 4,500 美元。”</p>
</div><p>Gold prices on COMEX fell to $4,567.75 an ounce, down 2.4% from the previous close. Silver on COMEX slipped 3.3% to $72.535 per ounce.</p>
<div class="lb-trans"><p>COMEX 上的黄金价格跌至每盎司 4,567.75 美元，比前一交易日下跌 2.4%。COMEX 上的白银价格下跌 3.3%，至每盎司 72.535 美元。</p>
</div>

Commodity wrap: Oil trims some gains as UAE exits OPEC; gold at 3-week low

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商品综述：由于阿联酋退出欧佩克，油价回吐部分涨幅；黄金跌至三周低点