周三早间，随着美国中期选举结果公布后美元走弱，金价和银价飙升。铂金和钯金等其他贵金属也录得强劲涨幅。
Gold and silver prices jumped on Wednesday morning as the US dollar weakened following the 2026 US midterm election results.
据CNBC市场数据，截至东部时间凌晨3点37分，现货金上涨2.64%，至每盎司4031.98美元。与此同时，现货银飙升4.17%，至每盎司51.8495美元。
Other precious metals, including platinum and palladium, also recorded strong gains. Spot gold climbed 2.64% to $4,031.98 per ounce by 3:37 am ET.
美国中期选举结果公布后，金价和银价上涨。黄金和白银期货也高位交易：近月黄金期货上涨2.53%，至每盎司4039.90美元。白银期货上涨4.21%，至每盎司51.85美元。周三交易时段，其他贵金属也录得涨幅。铂金飙升2.82%，至每盎司1455.96美元。钯金上涨3.8%，至每盎司969.33美元。
Meanwhile, spot silver jumped 4.17% to $51.8495 per ounce, according to CNBC market data. Gold, silver prices rise after US midterm resultsGold and silver futures also traded higher:Front-month gold futures rose 2.53% to $4,039.90. Silver futures gained 4.21% to $51.85. Other precious metals also recorded gains during Wednesday's trading session. Platinum jumped 2.82% to $1,455.96 per ounce. Palladium rose 3.8% to $969.33 per ounce.
涨幅出现之际，美国中期选举的选票仍在计票中。民主党预计将赢得众议院控制权，而几个州长办公室也转为民主党控制。
The gains came as votes were still being counted in the US midterm elections. Democrats were projected to win control of the House of Representatives, while several governors' offices also turned blue.
选举结果也影响了其他金融市场。随着选举结果公布，美国股票期货普遍下跌，而美国国债收益率走低。石油价格小幅上涨，美元指数下跌约0.3%，据CNBC市场数据。为何金价和银价上涨？
The election results also affected other financial markets. US stock futures broadly fell as the results came in, while US Treasury yields moved lower. Oil prices edged slightly higher, and the US dollar index fell around 0.3%, according to CNBC market data. Why did gold and silver prices rise?
美元走弱有助于支撑金价和银价。贵金属通常以美元计价，因此美元走弱使得使用其他货币的买家购买这些金属的成本降低，这可能会增加对这些金属的需求。美国中期选举结果实时播报美国国债收益率下跌也支撑了贵金属。黄金和白银不支付利息，而许多债券则支付利息。当国债收益率下跌时，持有黄金等不支付利息的资产的机会成本降低，使其对投资者更具吸引力。
The weaker US dollar helped support gold and silver prices. Precious metals are generally priced in dollars, so a weaker dollar makes them less expensive for buyers using other currencies. This can increase demand for these metals.US midterm election results LIVEFalling US Treasury yields also supported precious metals. Gold and silver do not pay interest, unlike many bonds. When Treasury yields fall, the opportunity cost of holding non-interest-paying assets such as gold becomes lower, making them more attractive to investors.
StoneX公司EMEA和亚洲市场分析主管Rhona O'Connell表示，如果民主党赢得国会两院控制权，金价可能会获得支撑。
Rhona O'Connell, head of market analysis for EMEA and Asia at StoneX, said gold could find support if Democrats won control of both chambers of Congress.
她说，这种结果可能会给利率和美元带来压力。O'Connell表示，民主党控制国会也可能因政府支出和经济政策方面的可能分歧而增加不确定性。她将可能出现的情况描述为涉及“财政边缘政策”和“制度摩擦”，这可能会增加市场不确定性，据CNBC报道。O'Connell还表示，伊朗战争的影响和美元走弱将与美联储鹰派立场的影响相互竞争。
She said such an outcome could put pressure on interest rates and the US dollar.O'Connell said Democratic control of Congress could also increase uncertainty because of possible disagreements over government spending and economic policies. She described the possible situation as one involving "fiscal brinkmanship" and "institutional friction", which could increase market uncertainty, according to CNBC.O'Connell also said the impact of the Iran war and a weaker US dollar would compete with the effects of a hawkish Federal Reserve.
美联储鹰派立场通常倾向于通过提高利率来控制通胀，这可能会给金价带来压力。她解释说，政府支出刺激减少可能会推低长期国债收益率并削弱美元。然而，据CNBC报道，对可能出现的债务上限争端的担忧可能会增加短期国库券的风险溢价。O'Connell还指出，美联储可能倾向于再次加息。即使美元和国债收益率走弱，这也可能限制贵金属的涨幅。
A hawkish Fed generally favours higher interest rates to control inflation, which can put pressure on gold prices. She explained that lower government spending stimulus could push long-term Treasury yields lower and weaken the dollar. However, concerns about a possible debt-limit dispute could increase the risk premium on short-term Treasury bills, according to CNBC.O'Connell also pointed to the possibility of the Federal Reserve leaning towards another interest rate hike. This could limit the gains in precious metals even if the dollar and Treasury yields weaken.US midterm election results: States which flipped blueCan gold prices recover after this year's fall?
美国中期选举结果：转为蓝色的州金价在今年下跌后能否反弹？2025年，随着投资者在地缘政治紧张和金融市场不确定性中寻求更安全的资产，黄金和白银出现了强劲反弹。2025年期间，金价飙升66%，银价飙升135%。两种金属都创下了创纪录的反弹，因为投资者增加了对避险资产的需求。然而，反弹在2026年失去了动力。
Gold and silver had a strong rally in 2025 as investors looked for safer assets amid geopolitical tensions and uncertainty in financial markets. During 2025, Gold prices surged 66% and Silver prices climbed 135%. Both metals recorded record-breaking rallies as investors increased their demand for safe-haven assets. However, the rally lost momentum in 2026.
通胀上升、债券收益率提高以及央行对利率保持鹰派态度，削弱了对贵金属的支持。据CNBC报道，自2026年初以来，金价已下跌超过7%，而同期银价下跌了近28%。周一，随着油价回落，现货黄金也上涨。在最新涨幅之后，黄金有望实现约3.7%的周涨幅。
Rising inflation, higher bond yields and central banks maintaining a hawkish approach to interest rates reduced support for precious metals. Gold prices have fallen more than 7% since the beginning of 2026, while silver prices have dropped almost 28% over the same period, according to CNBC. Spot gold also rose on Monday as oil prices retreated. Following the latest gains, gold was on track for a weekly rise of around 3.7%.
然而，分析人士警告称，除非更广泛的经济和货币条件变得更加有利，否则贵金属的反弹可能不会持久。黄金价格反弹仍不确定。Capital.com高级市场分析师Daniela Hathorn表示，贵金属的反弹依然脆弱。Hathorn说，地缘政治不确定性并不总是导致避险资产需求增加。投资者也担心紧缩的货币政策，这可能会降低黄金和白银的吸引力。
However, analysts cautioned that the recovery in precious metals may not last unless broader economic and monetary conditions become more supportive. Gold price recovery remains uncertainDaniela Hathorn, senior market analyst at Capital.com, said the recovery in precious metals remained fragile. Hathorn said geopolitical uncertainty does not always lead to higher demand for safe-haven assets. Investors are also concerned about restrictive monetary policies, which can reduce the appeal of gold and silver.
她还警告称，根据CNBC报道，在股市大幅下跌期间，贵金属可能面临抛售压力。投资者可能会出售黄金和白银等资产，即使这些资产有利可图或易于变现，以筹集现金并弥补其他地方的损失。这意味着，尽管近期有所上涨，黄金和白银仍可能继续面临来自通胀担忧、利率预期以及投资者情绪突然变化的压力。
She also warned that precious metals could face selling pressure during sharp falls in stock markets, according to CNBC. Investors may sell assets such as gold and silver, even if they are profitable or easy to sell, to raise cash and cover losses elsewhere. This means that despite the recent rise, gold and silver could continue to face pressure from inflation concerns, interest rate expectations and sudden changes in investor sentiment.