金吾财讯 | 黄金板块逆势走高。哈莫尼黄金(HMY)涨2.69%，泛美白银(PAAS)涨2.61%，科尔黛伦矿业(CDE)涨2.23%，纽曼矿业(NEM)涨2.36%。
消息面上，中东地缘局势持续降温，带动全球宏观风险情绪修复，国际黄金市场同步走高。现货黄金价格上涨1.6%，报每盎司4505.12美元；黄金期货价格上涨1.5%，报每盎司4533.72美元，黄金兑美元日内涨幅达1.47%。
本轮金价上行源于中东停火谈判取得阶段性进展，以色列与黎巴嫩达成有条件停火延期共识，为美伊后续和平磋商创造基础。本轮经美国斡旋的第四轮会谈明确，停火落地需满足真主党全面停火、相关人员撤离黎巴嫩南部区域等条件，整体进程未包含真主党直接参与谈判环节。叠加美方释放对伊缓和信号、国内出现终止对外冲突的舆论与议会决议，市场避险溢价重构，利率预期改善对金价形成支撑。
当前黄金市场定价逻辑逐步切换，地缘冲突缓和缓解全球通胀扰动，弱化高利率延续预期，降息概率升温持续利好无息资产黄金估值。在大类资产同步波动背景下，黄金逆势上涨，反映出市场对宏观货币政策周期的提前交易。
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