5月27日，黄金市场在高位运行后继续消化供需变化。Investing.com报道称，中亚主要产金国在暂停约六个月后恢复非货币黄金出口，今年前四个月出口额约15亿美元，其中多数销售集中在4月。Mega安汇表示，供应端重新释放实物黄金，会让市场更关注高价区间下的卖盘节奏。
该国年产黄金约130吨，此前在2025年9月后基本暂停出口，1月和2月出口为零，3月仅录得约3000万美元。Mega安汇认为，在金价年内处于纪录高位附近时，资源型经济体恢复销售，反映高价对持有者的变现吸引力正在增强。
文章还提到，当地央行储备在4月减少约10万金衡盎司，这与出口恢复相互印证。与此同时，金价今年均价约为每盎司4800美元，仍显示贵金属在资产配置和财政收入层面具有较强支撑。
短线来看，黄金价格既受到高位获利盘影响，也仍受长期配置需求托底。若后续更多生产方选择增加出口，Mega安汇分析称，金价可能在高位震荡中等待ETF资金、美元走势和实物需求给出更明确方向。
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