随着投资者在跨市场股市大跌中抛售贵金属，金价在三个多月来最低收盘价附近企稳。
Gold steadied near its lowest close in more than three months as investors sold the precious metal in a cross-market stock rout.
黄金交易价格徘徊在每盎司4025美元左右，此前一交易日下跌近3%，触及7月20日以来最低水平。周四美股下跌，美国国债收益率在部分期限上暴跌多达20个基点，为2025年8月以来最大跌幅，焦虑的交易员通过涌入债券市场来对冲风险。
Bullion was trading at around $4,025 an ounce after falling almost 3% in the previous session to its lowest since July 20. US stocks fell on Thursday and Treasury yields tumbled by as much as 20 basis points on some maturities, the most since August 2025, as anxious traders hedged their bets by flocking to bonds.
Global X ETFs分析师Justin Lin表示，黄金可能面临“流动性驱动的抛售”。“这往往发生在急剧的市场下跌中，因为它是满足保证金追缴、资本要求的极佳流动性来源，”他补充说，贵金属接近测试每盎司3900美元的关键水平。
Gold had likely faced a “liquidity-driven selloff,” said Justin Lin, an analyst at Global X ETFs. This “tends to happen in sharp market downturns, as it’s a great source of liquidity to fund margin calls, capital requirements,” he said, adding the precious metal was close to testing a critical level of $3,900 an ounce.
不过，市场对美联储进一步加息预期的降温，短期内应能为金价提供一些支撑。投资者日益担忧人工智能投资的可持续性——这是美国增长的主要驱动力。这促使交易员降低再次加息的押注，目前下周美联储会议加息25个基点的概率已降至10%以下。
Still, the tempering of expectations for more rate hikes by the Federal Reserve should offer some support to gold in the near term. Investors are increasingly worried about the sustainability of artificial intelligence investment — a major driver of US growth. This is prompting traders to lower their bets for another increase with the probability of a quarter-point hike at the Fed’s meeting next week currently sitting below 10%.
Lin表示：“黄金很可能出现V型反弹”，尽管面临短期下行压力，但降息、AI交易降温以及资金流出美国推动美元走低，都是利好贵金属的因素。
“A V-shape recovery is likely” for gold despite the near-term downward pressures, Lin said, adding that lower rates, faltering AI trade and capital outflows from the US pushing the dollar lower are all positives for precious metals.
新加坡时间上午8:10，现货金几乎持平于每盎司4024.48美元，白银下跌0.1%至每盎司54.49美元。铂金下跌0.2%，钯金持平。彭博美元现货指数（衡量美元的指标）下跌0.1%。
Spot gold was little changed at $4,024.48 an ounce at 8:10 a.m. in Singapore, while silver was down 0.1% at $54.49. Platinum dipped 0.2% and palladium was steady. The Bloomberg Dollar Spot Index, a gauge of the US currency, was 0.1% lower.