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约翰·杰米勒
近期黄金从接近4000美元高位大幅回落，短期抛压主要来自美股暴跌引发的流动性紧张及保证金平仓。美伊开火 又加剧油价和通胀预期，压制黄金表现。但各国央行购金、地缘风险和避险需求仍构成支撑。当前更像短期流动性冲击叠加利率压力，尚不足以证明黄金长期上涨逻辑结束。重点关注4000美元关口、美债实际收益率及美元走势。
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