<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>週三，黃金價格接近歷史性的 5000 美元大關，首次突破每盎司 4800 美元。</p>
<p>與此同時，白銀價格也在創紀錄的高位徘徊，避險需求持續上升。</p>
<p>由於投資者評估哈薩克斯坦兩個大型油田的停產和地緣政治緊張局勢，油價在大部分時間內上漲。</p>
<p>週三，基本金屬普遍表現強勁。特別是銅在週二動盪的交易後有所回升，期間現貨與遠期的價差明顯擴大。</p>
<h2>黃金創下新高</h2>
<p>週三，COMEX 上的黃金價格創下每盎司 4890.35 美元的新高，首次突破 4800 美元大關。</p>
<p>由於美國與北約在格林蘭問題上的緊張關係加劇，避險需求推動黃金價格在週三創下新紀錄。</p>
<p>週二，唐納德·特朗普重申了他強烈希望控制格林蘭的願望，包括可能採取武力。</p>
<p>美國總統定於週三抵達瑞士達沃斯的世界經濟論壇。</p>
<p>儘管歐洲國家反對，他預計將在此次活動中進一步推動收購這座北極島嶼的努力。</p>
<p>然而，丹麥首相梅特·弗雷德裏克森表示拒絕滿足特朗普的要求，放棄格林蘭。</p>
<p>在白宮對格林蘭的威脅後，美元指數跌至兩週低點，並在此徘徊，廣泛的拋售影響了美國資產，包括貨幣、華爾街股票和國債。</p>
<p>美元貶值的意義重大，因為較弱的美元使以美元計價的金屬對國際買家更為實惠。</p>
<p>“分析師們現在公開討論 5000 美元黃金的前景，突顯出市場情緒的緊張程度，” Trade Nation 的高級市場分析師大衞·莫里森表示。</p>
<blockquote>
<p>儘管黃金削減了一些日內漲幅，但整體背景仍然支持其上漲。</p>
</blockquote>
<p>白銀價格略有回落，在接近每盎司 96 美元后進行整固。儘管如此，白銀仍然受到持續的避險需求和普遍較弱的美元的支持。</p>
<p>“目前，黃金主導了市場敍事，但白銀仍然在作為波動性豐富的伴隨交易，” 莫里森説。</p>
<h2>油價上漲</h2>
<p>週三，油價上漲，受到多種因素的推動：哈薩克斯坦兩個主要油田的臨時停產、美國原油庫存增加的預期，以及因美國對格林蘭控制權的關税威脅而引發的新地緣政治緊張局勢。</p>
<p>據路透社週三報道，天吉油田的運營商 TCO 已對原油交付 CPC 管道系統宣佈不可抗力。</p>
<p>這一消息是在週二路透社的一篇報道之後發佈的，該報道引用了三位行業消息人士，稱這兩個哈薩克油田的石油生產可能會再停產七到十天。</p>
<p>美國總統唐納德·特朗普在週二重申了他對收購格林蘭的堅定承諾，宣稱 “沒有回頭路”。</p>
<p>這一聲明是在他繼續追求這座北極島嶼的背景下發布的，他上週承諾對歐洲盟友施加逐步加徵的關税，直到美國被允許購買該島。</p>
<p>然而，這些事態發展在一定程度上限制了油市的漲幅。</p>
<p>“自八月以來，原油確實突破了下行趨勢。儘管從長遠來看，圖表並不那麼看漲，” 莫里森説。</p>
<blockquote>
<p>從基本面來看，全球增長和貿易緊張局勢的廣泛擔憂可能仍會限制上漲空間。</p>
</blockquote>
<p>在撰寫本文時，西德克薩斯中質原油的價格為每桶 60.28 美元，與前一交易日基本持平。布倫特原油為每桶 64.83 美元。</p>
<h2>基本金屬上漲</h2>
<p>倫敦金屬交易所的三個月期銅合約交易價格上漲 0.9%，達到每噸 12,901.20 美元。三個月期鋁合約為每噸 3,124.60 美元，上漲 0.2%。</p>
<p>美元走弱提升了基本金屬的需求，因為這使得這些商品對海外買家更為便宜。</p>
<p>地緣政治緊張局勢，特別是歐洲的不安和圍繞格林蘭的持續對峙，繼續推動市場情緒。</p>
<p>這種整體的風險規避環境影響了各種資產類別。</p>
<p>然而，隨着美元走軟，商品找到了些許小支撐，美元跌破 98.5。</p>
<p>儘管美元走弱，國債收益率卻小幅上升，反映出全球債券市場的廣泛不穩定。</p>
<p>力拓最近的生產數據為市場帶來了更穩定的基本面前景。</p>
<p>該礦業公司在第四季度銅產量增長了 5%，主要得益於蒙古 Oyu Tolgoi 地下作業的持續擴張。</p>
<p>此外，鐵礦石的出貨量增長了 7%；然而，全年總出口處於公司預測指導的下限。</p>
<p>“儘管整體基本金屬市場仍然波動，但結構性緊張仍在支撐價格，” Britannia Global Markets 的金屬負責人尼爾·韋爾什在一封電子郵件聲明中表示。</p>
<blockquote>
<p>銅的期限結構明顯的逆向市場表明，近期需求持續，受到美國資金流入和其他地方庫存減少的放大。</p>
</blockquote>
<p>關於商品的總結：黃金在地緣政治緊張局勢下突破 4800 美元；基本金屬和油價上漲的文章首次出現在 Invezz 上。</p>

<p>黃金價格達到每盎司 4,890.35 美元的歷史新高，主要受到地緣政治緊張局勢（尤其是關於格林蘭的局勢）下避險需求的推動。白銀價格也保持在接近歷史高位。由於哈薩克斯坦兩個主要油田的停產以及持續的地緣政治問題，油價上漲。包括銅和鋁在內的基礎金屬表現強勁，受到美元走弱的支持。分析師們正在討論黃金是否有可能達到 5,000 美元，而對全球經濟增長和貿易緊張局勢的擔憂可能會限制油價和其他商品的進一步上漲</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>週三，黃金價格接近歷史性的 5000 美元大關，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>與此同時，白銀價格也在創紀錄的高位徘徊，避險需求持續上升。</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>由於投資者評估哈薩克斯坦兩個大型油田的停產和地緣政治緊張局勢，油價在大部分時間內上漲。</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>週三，基本金屬普遍表現強勁。特別是銅在週二動盪的交易後有所回升，期間現貨與遠期的價差明顯擴大。</p>
</div><h2>Gold hits record high</h2>
<div class="lb-trans"><h2>黃金創下新高</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>週三，COMEX 上的黃金價格創下每盎司 4890.35 美元的新高，首次突破 4800 美元大關。</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>由於美國與北約在格林蘭問題上的緊張關係加劇，避險需求推動黃金價格在週三創下新紀錄。</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>週二，唐納德·特朗普重申了他強烈希望控制格林蘭的願望，包括可能採取武力。</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>美國總統定於週三抵達瑞士達沃斯的世界經濟論壇。</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>儘管歐洲國家反對，他預計將在此次活動中進一步推動收購這座北極島嶼的努力。</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，丹麥首相梅特·弗雷德裏克森表示拒絕滿足特朗普的要求，放棄格林蘭。</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>在白宮對格林蘭的威脅後，美元指數跌至兩週低點，並在此徘徊，廣泛的拋售影響了美國資產，包括貨幣、華爾街股票和國債。</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>美元貶值的意義重大，因為較弱的美元使以美元計價的金屬對國際買家更為實惠。</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>“分析師們現在公開討論 5000 美元黃金的前景，突顯出市場情緒的緊張程度，” Trade Nation 的高級市場分析師大衞·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>儘管黃金削減了一些日內漲幅，但整體背景仍然支持其上漲。</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>白銀價格略有回落，在接近每盎司 96 美元后進行整固。儘管如此，白銀仍然受到持續的避險需求和普遍較弱的美元的支持。</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，黃金主導了市場敍事，但白銀仍然在作為波動性豐富的伴隨交易，” 莫里森説。</p>
</div><h2>Oil moves higher</h2>
<div class="lb-trans"><h2>油價上漲</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>週三，油價上漲，受到多種因素的推動：哈薩克斯坦兩個主要油田的臨時停產、美國原油庫存增加的預期，以及因美國對格林蘭控制權的關税威脅而引發的新地緣政治緊張局勢。</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>據路透社週三報道，天吉油田的運營商 TCO 已對原油交付 CPC 管道系統宣佈不可抗力。</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>這一消息是在週二路透社的一篇報道之後發佈的，該報道引用了三位行業消息人士，稱這兩個哈薩克油田的石油生產可能會再停產七到十天。</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>美國總統唐納德·特朗普在週二重申了他對收購格林蘭的堅定承諾，宣稱 “沒有回頭路”。</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>這一聲明是在他繼續追求這座北極島嶼的背景下發布的，他上週承諾對歐洲盟友施加逐步加徵的關税，直到美國被允許購買該島。</p>
</div><p>These developments, however, acted as a ceiling, limiting gains in the oil market.</p>
<div class="lb-trans"><p>然而，這些事態發展在一定程度上限制了油市的漲幅。</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>“自八月以來，原油確實突破了下行趨勢。儘管從長遠來看，圖表並不那麼看漲，” 莫里森説。</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>從基本面來看，全球增長和貿易緊張局勢的廣泛擔憂可能仍會限制上漲空間。</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>在撰寫本文時，西德克薩斯中質原油的價格為每桶 60.28 美元，與前一交易日基本持平。布倫特原油為每桶 64.83 美元。</p>
</div><h2>Base metals rise</h2>
<div class="lb-trans"><h2>基本金屬上漲</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>倫敦金屬交易所的三個月期銅合約交易價格上漲 0.9%，達到每噸 12,901.20 美元。三個月期鋁合約為每噸 3,124.60 美元，上漲 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屬的需求，因為這使得這些商品對海外買家更為便宜。</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>地緣政治緊張局勢，特別是歐洲的不安和圍繞格林蘭的持續對峙，繼續推動市場情緒。</p>
</div><p>This overall risk-off environment affected various asset classes.</p>
<div class="lb-trans"><p>這種整體的風險規避環境影響了各種資產類別。</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，隨着美元走軟，商品找到了些許小支撐，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>儘管美元走弱，國債收益率卻小幅上升，反映出全球債券市場的廣泛不穩定。</p>
</div><p>Rio Tinto’s recent production figures introduced a more stable fundamental outlook to the market.</p>
<div class="lb-trans"><p>力拓最近的生產數據為市場帶來了更穩定的基本面前景。</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>該礦業公司在第四季度銅產量增長了 5%，主要得益於蒙古 Oyu Tolgoi 地下作業的持續擴張。</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，鐵礦石的出貨量增長了 7%；然而，全年總出口處於公司預測指導的下限。</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>“儘管整體基本金屬市場仍然波動，但結構性緊張仍在支撐價格，” Britannia Global Markets 的金屬負責人尼爾·韋爾什在一封電子郵件聲明中表示。</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>銅的期限結構明顯的逆向市場表明，近期需求持續，受到美國資金流入和其他地方庫存減少的放大。</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>關於商品的總結：黃金在地緣政治緊張局勢下突破 4800 美元；基本金屬和油價上漲的文章首次出現在 Invezz 上。</p>
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Commodity wrap: gold tops $4,800 on geopolitical jitters; base metals, oil climb

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商品綜述：受地緣政治緊張局勢影響，黃金價格突破 4800 美元；基礎金屬和石油價格上漲