华泰证券:关注金价企稳后黄金资产的增配机会

第一财经
Oct 24, 2025

华泰证券指出,10月21日晚国际金价创12年来最大单日跌幅5.3%,背后核心原因是多要素推动避险情绪大幅回落。但全球秩序重构期,黄金仍是最合适的避险资产。我们认为短期下跌不影响黄金长期逻辑,回调反而提供加仓机会,企稳后建议重新关注。22日当天典型黄金公司股价跌幅反而好于金价本身,说明市场对黄金相关资产的长期配置价值的共识未发生改变。金价仍处长期上行区间,多数黄金公司26年仍有望实现量价齐升,当前...

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