<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/04/Financial-trading-desk-with-currency-and-oil-model.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/2026/04/Financial-trading-desk-with-currency-and-oil-model.png"/></p>
<p>由于交易者消化了美国总统特朗普暂停对伊朗的军事打击计划的决定，油价和黄金价格在周二下跌，缓解了对中东局势立即升级的担忧。</p>
<p>在周一反弹后，原油期货小幅下滑，而黄金在美元走弱和地缘政治紧张局势持续的情况下，保持在近期高位附近。</p>
<h2>特朗普暂停军事行动后油价回落</h2>
<p>周二，美国原油期货在特朗普表示他已 “暂停” 对伊朗的计划攻击后下跌超过 1%，此前周末发生了针对海湾能源设施的无人机袭击。</p>
<p>这一举动缓解了对霍尔木兹海峡供应中断的担忧，约 20% 的全球石油通过该海峡运输。</p>
<p>布伦特原油最新下跌 1.3%，报每桶 110.59 美元，而西德克萨斯中质原油（WTI）下跌 0.9%，报每桶 103.45 美元。</p>
<p>由于华盛顿与德黑兰之间的言辞升级，两个基准油价上周大幅上涨。</p>
<p>分析师告诉_路透社_，交易者现在在关注这一暂时的暂停是否会导致外交关系的恢复或攻击的延迟。</p>
<p>“市场仍然极其受头条新闻驱动，” 一位新加坡的能源策略师表示。“白宫或德黑兰的每一个信号都可能使价格波动几美元。”</p>
<p>国际能源署（IEA）警告称，商业原油库存正在 “迅速减少”，仅剩几周的供应缓冲。</p>
<p>与此同时，周末与俄罗斯相关的制裁豁免到期，给全球原油流动带来了压力，特别是对印度和中国的买家。</p>
<h2>黄金下跌</h2>
<p>在撰写时，黄金价格下跌超过 1%，美国国债收益率和美元走强。</p>
<p>COMEX 上的黄金报价为 4497.16 美元，而白银下跌 4%，报 74.360 美元每盎司。铂金也下跌 2.3%，报 1931.75 美元。</p>
<p>基准 10 年期美国国债收益率徘徊在自 2025 年 2 月以来的最高水平，反映出由于能源成本驱动的持续通胀担忧。</p>
<p>当国债收益率上升时，持有无利息资产如黄金的吸引力下降，因为投资者可以在其他地方获得更高的回报。</p>
<p>与此同时，美元走强使得以美元计价的商品对使用其他货币的买家来说变得更加昂贵，从而抑制了需求。</p>
<p>交易者现在关注美联储最新会议纪要的发布，希望能更清晰地了解中央银行未来的货币政策方向。</p>
<h2>铜和工业金属</h2>
<p>工业金属回落，交易者权衡海湾地区潜在供应中断的影响和中国需求放缓。</p>
<p>伦敦金属交易所的三个月铜合约报每吨 13396 美元，下跌 1.5%，而铝上涨 0.5%，报每吨 3580.50 美元。</p>
<p>由于与伊朗冲突相关的通胀担忧和中国经济数据令人失望，伦敦金属交易所的铜价在周一继续下跌。</p>
<p>华盛顿与德黑兰之间的紧张局势加剧，加上油价上涨，放大了对持续通胀和更紧货币政策反应的担忧。</p>
<p>这种组合抑制了全球增长前景，侵蚀了对工业需求的预期，使铜和其他基础金属承压。</p>
<p>“回调是在强劲上涨后出现的，价格从上周刚刚达到的近期高点回落，面临加剧的宏观逆风，” ING 经济学的商品策略师 Ewa Manthey 在一份报告中表示。</p>
<blockquote>
<p>中国经济数据疲软，包括投资、零售和工业产出活动放缓，增加了对需求的担忧，特别是在制造业领域。</p>
</blockquote>
<p>“短期内，铜可能会继续承压，因为宏观风险占主导地位。不过，由于供应紧张和中国在价格回调时的响应性购买，价格下行空间可能有限，” Manthey 表示。</p>
<h2>市场展望</h2>
<p>商品分析师预计，由于地缘政治头条新闻主导情绪，本周的波动性将持续。“军事行动的暂停可能暂时平息紧张情绪，但潜在的紧张局势依然存在，” 彭博情报的一位策略师表示。</p>
<p>能源交易者在关注华盛顿与德黑兰之间是否有任何恢复谈判的迹象，而金属投资者则关注通胀数据和中央银行的指引。</p>
<p>目前，商品市场在地缘政治风险和宏观经济不确定性之间保持微妙平衡，这种组合可能会使油价和黄金价格在未来几天剧烈波动。</p>
<p>这篇文章最初发布在 Invezz 上，标题为《商品综述：油价因特朗普暂停对伊朗的攻击而下跌；黄金、铜价格下滑》。</p>

纽蒙特矿业

山东黄金

阿尼科伊格尔矿业

<p>油价和金价下跌，因为特朗普总统暂停了对伊朗的军事打击，缓解了升级的担忧。美国原油期货下跌超过 1%，而布伦特原油下跌 1.3%，至 110.59 美元。由于国债收益率上升和美元走强，黄金价格下跌超过 1%。由于对供应中断和中国需求疲软的担忧，铜等工业金属也回落。分析师预计，由于地缘政治紧张局势和宏观经济不确定性，商品市场将继续出现波动</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/04/Financial-trading-desk-with-currency-and-oil-model.png" alt="" original-src="https://invezz-wp-media.lon1.digitaloceanspaces.com/2026/04/Financial-trading-desk-with-currency-and-oil-model.png"/></p>
<p>Oil and gold prices fell on Tuesday as traders digested US President DonaldTrump’s decision to pause a planned military strike on Iran, easing fears of immediate escalation in the MiddleEast.</p>
<div class="lb-trans"><p>由于交易者消化了美国总统特朗普暂停对伊朗的军事打击计划的决定，油价和黄金价格在周二下跌，缓解了对中东局势立即升级的担忧。</p>
</div><p>Crude futures slipped after Monday’s rebound, while gold held near recent highs on a weaker dollar and lingering geopolitical tension.</p>
<div class="lb-trans"><p>在周一反弹后，原油期货小幅下滑，而黄金在美元走弱和地缘政治紧张局势持续的情况下，保持在近期高位附近。</p>
</div><h2>Oil prices ease after Trump’s pause</h2>
<div class="lb-trans"><h2>特朗普暂停军事行动后油价回落</h2>
</div><p>US crude futures fell more than 1% on Tuesday after Trump said he had “held off” a scheduled attack on Iran following weekend drone strikes on Gulf energy facilities.</p>
<div class="lb-trans"><p>周二，美国原油期货在特朗普表示他已 “暂停” 对伊朗的计划攻击后下跌超过 1%，此前周末发生了针对海湾能源设施的无人机袭击。</p>
</div><p>The move tempered fears of supply disruption in the Strait ofHormuz, through which roughly 20% of global oil flows.</p>
<div class="lb-trans"><p>这一举动缓解了对霍尔木兹海峡供应中断的担忧，约 20% 的全球石油通过该海峡运输。</p>
</div><p>Brent crude was last down 1.3% at$110.59abarrel, while WestTexasIntermediate (WTI) slipped 0.9% to$103.45.</p>
<div class="lb-trans"><p>布伦特原油最新下跌 1.3%，报每桶 110.59 美元，而西德克萨斯中质原油（WTI）下跌 0.9%，报每桶 103.45 美元。</p>
</div><p>Both benchmarks had surged last week amid escalating rhetoric between Washington and Tehran.</p>
<div class="lb-trans"><p>由于华盛顿与德黑兰之间的言辞升级，两个基准油价上周大幅上涨。</p>
</div><p>Analysts told <em>Reuters</em> that traders are now watching whether the temporary pause leads to renewed diplomacy or a delayed strike.</p>
<div class="lb-trans"><p>分析师告诉_路透社_，交易者现在在关注这一暂时的暂停是否会导致外交关系的恢复或攻击的延迟。</p>
</div><p>“The market remains extremely headline‑driven,” said one Singapore‑based energy strategist. “Every signal from the WhiteHouse or Tehran can swing prices several dollars either way.”</p>
<div class="lb-trans"><p>“市场仍然极其受头条新闻驱动，” 一位新加坡的能源策略师表示。“白宫或德黑兰的每一个信号都可能使价格波动几美元。”</p>
</div><p>The InternationalEnergyAgency (IEA) warned that commercial oil inventories are “depleting rapidly,” leaving only a few weeks of supply cushion.</p>
<div class="lb-trans"><p>国际能源署（IEA）警告称，商业原油库存正在 “迅速减少”，仅剩几周的供应缓冲。</p>
</div><p>Meanwhile, the expiration of a Russia‑related sanctions waiver over the weekend added pressure on global crude flows, particularly for buyers in India and China.</p>
<div class="lb-trans"><p>与此同时，周末与俄罗斯相关的制裁豁免到期，给全球原油流动带来了压力，特别是对印度和中国的买家。</p>
</div><h2>Gold falls</h2>
<div class="lb-trans"><h2>黄金下跌</h2>
</div><p>Gold prices declined more than 1% at the time of writing as yields on US Treasury bills and the dollar strengthened.</p>
<div class="lb-trans"><p>在撰写时，黄金价格下跌超过 1%，美国国债收益率和美元走强。</p>
</div><p>Gold on COMEX was quoted at $4,497.16, while silver fell 4% to$74.360anounce. Platinum also eased 2.3% to$1,931.75.</p>
<div class="lb-trans"><p>COMEX 上的黄金报价为 4497.16 美元，而白银下跌 4%，报 74.360 美元每盎司。铂金也下跌 2.3%，报 1931.75 美元。</p>
</div><p>Benchmark 10‑yearUSTreasury yields hovered near their highest since February2025, reflecting persistent inflation concerns driven by energy costs.</p>
<div class="lb-trans"><p>基准 10 年期美国国债收益率徘徊在自 2025 年 2 月以来的最高水平，反映出由于能源成本驱动的持续通胀担忧。</p>
</div><p>When Treasury yields rise, holding non‑interest‑bearing assets like gold becomes less attractive because investors can earn higher returns elsewhere.</p>
<div class="lb-trans"><p>当国债收益率上升时，持有无利息资产如黄金的吸引力下降，因为投资者可以在其他地方获得更高的回报。</p>
</div><p>At the same time, a stronger dollar makes commodities priced in US currency more expensive for buyers using other currencies, dampening demand.</p>
<div class="lb-trans"><p>与此同时，美元走强使得以美元计价的商品对使用其他货币的买家来说变得更加昂贵，从而抑制了需求。</p>
</div><p>Traders are now focused on the release of the Federal Reserve’s latest meeting minutes on Wednesday, hoping to gain clearer insight into the central bank’s future monetary policy direction.</p>
<div class="lb-trans"><p>交易者现在关注美联储最新会议纪要的发布，希望能更清晰地了解中央银行未来的货币政策方向。</p>
</div><h2>Copper and Industrial Metals</h2>
<div class="lb-trans"><h2>铜和工业金属</h2>
</div><p>Industrial metals retreated as traders weighed the impact of potential supply disruptions in the Gulf and slower Chinese demand.</p>
<div class="lb-trans"><p>工业金属回落，交易者权衡海湾地区潜在供应中断的影响和中国需求放缓。</p>
</div><p>The three-month copper contract on the London Metal Exchange was at $13,396 per ton, down 1.5%, while aluminium was up 0.5% at $3,580.50 per ton.</p>
<div class="lb-trans"><p>伦敦金属交易所的三个月铜合约报每吨 13396 美元，下跌 1.5%，而铝上涨 0.5%，报每吨 3580.50 美元。</p>
</div><p>Copper prices on the LME extended their decline on Monday, weighed down by inflationary concerns linked to the Iran conflict and disappointing Chinese economic data.</p>
<div class="lb-trans"><p>由于与伊朗冲突相关的通胀担忧和中国经济数据令人失望，伦敦金属交易所的铜价在周一继续下跌。</p>
</div><p>Rising tensions between Washington and Tehran, coupled with higher oil prices, have amplified fears of prolonged inflation and the likelihood of a tighter monetary policy response.</p>
<div class="lb-trans"><p>华盛顿与德黑兰之间的紧张局势加剧，加上油价上涨，放大了对持续通胀和更紧货币政策反应的担忧。</p>
</div><p>That combination is dampening global growth prospects and eroding expectations for industrial demand, leaving copper and other base metals under pressure.</p>
<div class="lb-trans"><p>这种组合抑制了全球增长前景，侵蚀了对工业需求的预期，使铜和其他基础金属承压。</p>
</div><p>“The pullback comes after a strong run, with prices slipping from the recent highs hit just last week amid intensifying macro headwinds,” Ewa Manthey, commodities strategist at ING Economics said in a note.</p>
<div class="lb-trans"><p>“回调是在强劲上涨后出现的，价格从上周刚刚达到的近期高点回落，面临加剧的宏观逆风，” ING 经济学的商品策略师 Ewa Manthey 在一份报告中表示。</p>
</div><blockquote>
<p>Weaker Chinese data, including softer activity in investment, retail and industrial output, added to concerns about demand, particularly in the manufacturing sector.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>中国经济数据疲软，包括投资、零售和工业产出活动放缓，增加了对需求的担忧，特别是在制造业领域。</p>
</blockquote>
</div><p>“Near-term, copper is likely to remain under pressure as macro risks dominate. The downside, though, may be limited by tight supply and responsive Chinese buying on dips,” Manthey said.</p>
<div class="lb-trans"><p>“短期内，铜可能会继续承压，因为宏观风险占主导地位。不过，由于供应紧张和中国在价格回调时的响应性购买，价格下行空间可能有限，” Manthey 表示。</p>
</div><h2>Market outlook</h2>
<div class="lb-trans"><h2>市场展望</h2>
</div><p>Commodity analysts expect volatility to persist through the week as geopolitical headlines dominate sentiment. “The pause in military action may calm nerves temporarily, but the underlying tension remains,” said a strategist at BloombergIntelligence.</p>
<div class="lb-trans"><p>商品分析师预计，由于地缘政治头条新闻主导情绪，本周的波动性将持续。“军事行动的暂停可能暂时平息紧张情绪，但潜在的紧张局势依然存在，” 彭博情报的一位策略师表示。</p>
</div><p>Energy traders are watching for any signs of renewed talks between Washington and Tehran, while metals investors are focused on inflation data and central‑bank guidance.</p>
<div class="lb-trans"><p>能源交易者在关注华盛顿与德黑兰之间是否有任何恢复谈判的迹象，而金属投资者则关注通胀数据和中央银行的指引。</p>
</div><p>For now, the commodity complex remains delicately balanced between geopolitical risk and macroeconomic uncertainty—a mix that could keep oil and gold prices swinging sharply in the days ahead.</p>
<div class="lb-trans"><p>目前，商品市场在地缘政治风险和宏观经济不确定性之间保持微妙平衡，这种组合可能会使油价和黄金价格在未来几天剧烈波动。</p>
</div><p>The post Commodity wrap: Oil falls as Trump pauses Iran attacks; gold, copper slip appeared first on Invezz</p>
<div class="lb-trans"><p>这篇文章最初发布在 Invezz 上，标题为《商品综述：油价因特朗普暂停对伊朗的攻击而下跌；黄金、铜价格下滑》。</p>
</div>

Commodity wrap: Oil falls as Trump pauses Iran attacks; gold, copper slip

invezz

中金黄金

Kinross Gold

实物黄金股 ETF - ETFS

黄金 ETF - SPDR

2 倍做多小型金矿指数 ETF - Direxion

能源业 ETF - SPDR

油气开采 ETF - SPDR

华夏黄金ETF

2 倍做多金矿指数 ETF - Direxion

金矿股 ETF - VanEck Vectors

易方达黄金矿-U

2 倍做多彭博原油 ETF - ProShares

易方达黄金矿业ETF

美国布伦特原油期货基金

油气服务 ETF - Market Vectors

初级黄金矿股 ETF

金矿小盘股 ETF - VanEck Vectors

黄金矿 ETF - Sprott

美国油气勘探与生产 ETF - iShares

2 倍做多黄金 ETF - ProShares

德银贵金属基金 - PowerShares

美国石油设备与服务 ETF - iShares

易方达黄金矿-R

美国 WTI 原油 ETF

炼油公司指数 ETF - VanEck Vectors

全球黄金矿业股 MSCI ETF - iShares

3 倍做多黄金矿业 ETN - MicroSectors

黄金勘探商 ETF - GlobalX

Roundhill Gold Miners Weeklypay ETF

黄金和贵金属矿商 ETF - U.S. Global

黄金 MiniShares 信托 - SPDR

YieldMax Gold Miners Opt Inc Strgy ETF

黄金 ETF - iShares

标普全球能源股指数 ETF - iShares

标普油气设备与服务 ETF - SPDR

能源业 ETF - Vanguard

贵金属股 ETF -ETFS

汤森路透

商品综述：由于特朗普暂停对伊朗的攻击，油价下跌；黄金和铜价也有所下滑