<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/3.webp?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-wp-media.lon1.digitaloceanspaces.com/2026/05/3.webp"/></p>
<p>黄金价格在周一继续强劲下跌，达到自 3 月 30 日以来的最低水平。当前交易价格为 4,545 美元，比今年最高点下跌近 20%。尽管高盛分析师指出了一个主要的潜在催化剂，但这种回撤仍在持续。</p>
<h2>黄金价格因主要阻力而下跌</h2>
<p>周一，黄金价格大幅回落，因为投资者对美国与伊朗之间可能发生的军事活动感到担忧。</p>
<p>在周日的声明中，唐纳德·特朗普总统警告伊朗，时间不等人，并敦促其领导人达成协议。</p>
<p>特朗普感到沮丧，因为伊朗并没有屈服于美国的极端要求，这些要求包括重新开放霍尔木兹海峡和交出核材料。</p>
<p>战争的重新爆发将对全球经济造成灾难性影响。原油价格将飙升，各国将面临短缺，尤其是如果伊朗决定关闭红海。</p>
<p>这将导致美国和其他国家的通货膨胀上升。美国劳工统计局（BLS）发布的报告显示，消费者价格指数（CPI）跃升至 3.8%，而生产者价格指数（PPI）跃升至 6%。</p>
<p>在高通胀时期，黄金价格往往表现不佳，因为这往往会推高债券收益率。确实，数据显示，十年期和三十年期的收益率在周一跃升至 4.2% 和 5.15%。这意味着美联储可能会在一段时间内维持当前的利率水平。</p>
<h2>高盛预测黄金需求将激增</h2>
<p>由于对需求的担忧，黄金价格也有所回落。印度的纳伦德拉·莫迪已要求公民今年避免购买黄金，因为 <strong>卢比</strong> 贬值。避免购买黄金将防止资金外流。</p>
<p>在过去几个月中，黄金 ETF 也出现了大量资金流出。数据显示，SPDR 黄金 ETF（GLD）和 iShares 黄金信托（IAU）今年已损失数十亿美元的资产。</p>
<p>尽管如此，高盛分析师认为，强劲的中央银行购金将对黄金形成利好。在一份报告中，分析师预测中央银行今年每月将继续购买至少 60 吨黄金，超过之前的预估。到 3 月的 12 个月累计购金平均约为 50 吨。</p>
<h2>XAU 价格技术分析</h2>
<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Gold-Price.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://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Gold-Price.png"/></p>
<p><em>黄金价格图表 | 来源：</em> <em>TradingView</em></p>
<p>日线图显示，黄金价格在过去几个月中回落，从创纪录的 5,607 美元降至当前的 4,545 美元。它形成了一条连接今年 1 月以来最高波动的下降趋势线。</p>
<p>黄金已跌破 50 日移动平均线，表明空头目前仍在控制。因此，最可能的情况是黄金在短期内继续承压。</p>
<p>如果发生这种情况，初始关注目标将是 4,400 美元。然而，若突破下降趋势线，将会使看跌前景失效，并指向更多的涨幅。这种走势可能会导致更多的涨幅，潜在地达到心理关口 5,000 美元。</p>
<p>这篇文章的标题为《黄金价格因债券收益率上升而下跌，高盛指出关键催化剂》，首次出现在 Invezz 上。</p>

GOLD

阿尼科伊格尔矿业

<p>黄金价格跌至 4,545 美元，较今年峰值下跌近 20%，原因是债券收益率上升以及与伊朗的地缘政治紧张局势。对通货膨胀和需求的担忧，尤其是在印度总理莫迪呼吁公民避免购买黄金之后，进一步加剧了这一下跌。尽管如此，高盛预测中央银行将继续增持黄金，可能会提振需求。技术分析显示，黄金可能仍将承压，目标价为 4,400 美元，除非突破下降趋势线</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/3.webp" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/3.webp"/></p>
<p>Gold price continued its strong downward trend on Monday, reaching its lowest level since March 30th. It was trading at $4,545, down by nearly 20% from its highest point this year. This retreat continued as headwinds rose, even as Goldman Sachs analysts identified a major potential catalyst.</p>
<div class="lb-trans"><p>黄金价格在周一继续强劲下跌，达到自 3 月 30 日以来的最低水平。当前交易价格为 4,545 美元，比今年最高点下跌近 20%。尽管高盛分析师指出了一个主要的潜在催化剂，但这种回撤仍在持续。</p>
</div><h2>Gold price drops as major headwinds emerge</h2>
<div class="lb-trans"><h2>黄金价格因主要阻力而下跌</h2>
</div><p>Gold retreated sharply on Monday as investors remained concerned about the potential for kinetic activity between the United States and Iran.</p>
<div class="lb-trans"><p>周一，黄金价格大幅回落，因为投资者对美国与伊朗之间可能发生的军事活动感到担忧。</p>
</div><p>In a statement on Sunday, President Donald Trump warned Iran that the clock was ticking as he pushed its leaders to make an agreement.</p>
<div class="lb-trans"><p>在周日的声明中，唐纳德·特朗普总统警告伊朗，时间不等人，并敦促其领导人达成协议。</p>
</div><p>Trump has been frustrated because Iran has not caved to the US maximalistic demands, which include reopening the Strait of Hormuz and handing over the nuclear material.</p>
<div class="lb-trans"><p>特朗普感到沮丧，因为伊朗并没有屈服于美国的极端要求，这些要求包括重新开放霍尔木兹海峡和交出核材料。</p>
</div><p>A restart of the war would be catastrophic for the world economy. Crude oil prices would surge, with countries having shortages, especially if Iran decides to shut the Red Sea down.</p>
<div class="lb-trans"><p>战争的重新爆发将对全球经济造成灾难性影响。原油价格将飙升，各国将面临短缺，尤其是如果伊朗决定关闭红海。</p>
</div><p>That, would, in turn, lead to higher inflation in the US and other countries. A report released by the Bureau of Labor Statistics (BLS) showed that the headline Consumer Price Index (CPI) jumped to 3.8%, while the Producer Price Index (PPI) jumped to 6%.</p>
<div class="lb-trans"><p>这将导致美国和其他国家的通货膨胀上升。美国劳工统计局（BLS）发布的报告显示，消费者价格指数（CPI）跃升至 3.8%，而生产者价格指数（PPI）跃升至 6%。</p>
</div><p>Gold price often underperforms in periods of high inflation as this tends to push bond yields higher. Indeed, data shows that the ten-year and thirty-year yields jumped to 4.2% and 5.15% on Monday. This means that the Federal Reserve will likely maintain interest rates at the current level for a while.</p>
<div class="lb-trans"><p>在高通胀时期，黄金价格往往表现不佳，因为这往往会推高债券收益率。确实，数据显示，十年期和三十年期的收益率在周一跃升至 4.2% 和 5.15%。这意味着美联储可能会在一段时间内维持当前的利率水平。</p>
</div><h2>Goldman Sachs predicts gold demand will jump</h2>
<div class="lb-trans"><h2>高盛预测黄金需求将激增</h2>
</div><p>Gold price has also retreated as concerns about demand remains. India’s Narendra Modi has asked his citizens to avoid buying gold this year as the <strong>rupee</strong> plunges. Avoiding gold will prevent currency outflows from the country.</p>
<div class="lb-trans"><p>由于对需求的担忧，黄金价格也有所回落。印度的纳伦德拉·莫迪已要求公民今年避免购买黄金，因为 <strong>卢比</strong> 贬值。避免购买黄金将防止资金外流。</p>
</div><p>Gold ETFs have also had substantial outflows in the past few months. Data shows that the SPDR Gold ETF (GLD) and the iShares Gold Trust (IAU) have shed billions of dollars in assets this year.</p>
<div class="lb-trans"><p>在过去几个月中，黄金 ETF 也出现了大量资金流出。数据显示，SPDR 黄金 ETF（GLD）和 iShares 黄金信托（IAU）今年已损失数十亿美元的资产。</p>
</div><p>Still, Goldman Sachs analysts believe that the robust central bank accumulation will be bullish for gold. In a note, the analysts predicted that central banks will keep buying at least 60 tons of gold a month this year, higher than the previous estimate. The 12-month accumulation through March averaged about 50 tons of gold.</p>
<div class="lb-trans"><p>尽管如此，高盛分析师认为，强劲的中央银行购金将对黄金形成利好。在一份报告中，分析师预测中央银行今年每月将继续购买至少 60 吨黄金，超过之前的预估。到 3 月的 12 个月累计购金平均约为 50 吨。</p>
</div><h2>XAU price technical analysis</h2>
<div class="lb-trans"><h2>XAU 价格技术分析</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Gold-Price.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/05/Gold-Price.png"/></p>
<p><em>Gold price chart | Source:</em> <em>TradingView</em></p>
<div class="lb-trans"><p><em>黄金价格图表 | 来源：</em> <em>TradingView</em></p>
</div><p>The daily chart shows that gold price has retreated in the past few months, moving from a record high of $5,607 to the current $4,545. It has formed a descending trendline, which connects the highest swings since January this year.</p>
<div class="lb-trans"><p>日线图显示，黄金价格在过去几个月中回落，从创纪录的 5,607 美元降至当前的 4,545 美元。它形成了一条连接今年 1 月以来最高波动的下降趋势线。</p>
</div><p>Gold has slumped below the 50-day moving average, a sign that bears remain in control for now. Therefore, the most likely scenario is where gold remains under pressure in the near term.</p>
<div class="lb-trans"><p>黄金已跌破 50 日移动平均线，表明空头目前仍在控制。因此，最可能的情况是黄金在短期内继续承压。</p>
</div><p>If this happens, the initial target to watch will be at $4,400. However, a move above the descending trendline will invalidate the bearish outlook and point to more gains. Such a move will lead to more gains, potentially to the psychological point at $5,000.</p>
<div class="lb-trans"><p>如果发生这种情况，初始关注目标将是 4,400 美元。然而，若突破下降趋势线，将会使看跌前景失效，并指向更多的涨幅。这种走势可能会导致更多的涨幅，潜在地达到心理关口 5,000 美元。</p>
</div><p>The post Gold price drops as bond yields rise and Goldman Sachs flags key catalyst appeared first on Invezz</p>
<div class="lb-trans"><p>这篇文章的标题为《黄金价格因债券收益率上升而下跌，高盛指出关键催化剂》，首次出现在 Invezz 上。</p>
</div>

Gold price drops as bond yields rise and Goldman Sachs flags key catalyst

invezz

Gold.com

Kinross Gold

纽蒙特矿业

山东黄金

中金黄金

黄金矿 ETF - Sprott

易方达黄金矿-U

实物黄金股 ETF - ETFS

金矿小盘股 ETF - VanEck Vectors

2 倍做多小型金矿指数 ETF - Direxion

2 倍做空金矿指数 ETF - Direxion

3 倍做多黄金矿业 ETN - MicroSectors

易方达黄金矿业ETF

2 倍做空小型金矿指数 ETF - Direxion

华夏黄金ETF

易方达黄金矿-R

Roundhill Gold Miners Weeklypay ETF

黄金 ETF - iShares

金矿股 ETF - VanEck Vectors

初级黄金矿股 ETF

黄金 ETF - SPDR

黄金勘探商 ETF - GlobalX

高盛

GS Hldg R

由于债券收益率上升，黄金价格下跌，摩根士丹利指出了关键的催化剂