(以下内容从华龙证券《有色金属行业2025年中期策略报告:新秩序、新经济,金属的重新锚定与价值重估》研报附件原文摘录)报告摘要黄金:?通过复盘黄金历史走势,黄金长期拐点一般以美国经济走势拐点(美联储政策转向)为必要条件。在过去数十年,黄金作为美元等货币的信用存在,与十年期美债实际利率呈负相关关系。但是,近年来美国从国际主义、多边主义转向国内主义、单边主义,从国际事务和盟友关系中实质性退出,同时...
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