{"id":50499,"date":"2026-05-22T14:46:22","date_gmt":"2026-05-22T14:46:22","guid":{"rendered":"https:\/\/www.vtmarkets.com\/uncategorized\/47973\/"},"modified":"2026-05-22T14:46:22","modified_gmt":"2026-05-22T14:46:22","slug":"%e9%8a%80%e5%83%b9%e5%9b%9e%e8%90%bd%ef%bc%8c%e5%8f%97%e8%81%af%e5%84%b2%e6%94%bf%e7%ad%96%e4%b8%8d%e6%98%8e%e6%9c%97%e5%8f%8a%e9%9c%8d%e7%88%be%e6%9c%a8%e8%8c%b2%e6%b5%b7%e5%b3%bd%e9%80%9a%e8%84%b9","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/live-updates\/50499\/","title":{"rendered":"\u9280\u50f9\u56de\u843d\uff0c\u53d7\u806f\u5132\u653f\u7b56\u4e0d\u660e\u6717\u53ca\u970d\u723e\u6728\u8332\u6d77\u5cfd\u901a\u8139\u98a8\u96aa\u62d6\u7d2f\uff0c\u60df\u5de5\u696d\u9700\u6c42\u652f\u6490\u50f9\u683c"},"content":{"rendered":"<p>\u767d\u9280\uff08XAG\/USD\uff09\u5728\u9023\u5347\u5169\u65e5\u5f8c\u56de\u843d\uff0c\u5468\u4e94\u4e9e\u6d32\u6642\u6bb5\u6bcf\u7279\u6d1b\u4f0a\u76ce\u53f8\uff08troy ounce\uff0c\u8cb4\u91d1\u5c6c\u5e38\u7528\u91cd\u91cf\u55ae\u4f4d\uff0c\u7d0431.1035\u514b\uff09\u572876.10\u7f8e\u5143\u9644\u8fd1\u4e0a\u843d\u3002\u5e02\u5834\u9810\u671f\u7f8e\u570b\u806f\u90a6\u5132\u5099\u5c40\uff08Federal Reserve\uff0c\u7c21\u7a31\u300c\u806f\u5132\u300d\uff09\u53ef\u80fd\u7dad\u6301\u8f03\u7dca\u7684\u8ca8\u5e63\u653f\u7b56\uff08policy tight\uff0c\u5373\u7dad\u6301\u8f03\u9ad8\u5229\u7387\u53ca\u6536\u7dca\u8cc7\u91d1\u4f9b\u61c9\uff09\uff0c\u62d6\u7d2f\u9280\u50f9\u3002<\/p>\n<p>\u8207\u970d\u723e\u6728\u8332\u6d77\u5cfd\uff08Strait of Hormuz\uff0c\u4e2d\u6771\u91cd\u8981\u77f3\u6cb9\u822a\u9053\uff09\u76f8\u95dc\u7684\u80fd\u6e90\u50f9\u683c\u4e0a\u5347\uff0c\u4ee4\u5e02\u5834\u6182\u616e\u7f8e\u570b\u901a\u8139\uff08inflation\uff0c\u7269\u50f9\u6574\u9ad4\u4e0a\u5347\uff09\u53ca\u901a\u8139\u9810\u671f\uff08inflation expectations\uff0c\u5e02\u5834\u5c0d\u672a\u4f86\u901a\u8139\u7684\u4f30\u8a08\uff09\u8d70\u9ad8\u3002\u7f8e\u570b\u7d93\u6fdf\u589e\u9577\u524d\u666f\u8f49\u5f37\uff0c\u4ea6\u52a0\u5927\u5c0d\u767d\u9280\u7b49\u300c\u7121\u606f\u8cc7\u7522\u300d\uff08non-yielding assets\uff0c\u5373\u4e0d\u6703\u50cf\u5b58\u6b3e\u6216\u50b5\u5238\u822c\u63d0\u4f9b\u5229\u606f\u6216\u56fa\u5b9a\u56de\u5831\u7684\u8cc7\u7522\uff09\u7684\u58d3\u529b\u3002<\/p>\n<h3>\u806f\u5132\u653f\u7b56\u524d\u666f<\/h3>\n<p>\u806f\u5132\u5b98\u54e1\u5728\u6aa2\u8996\u77ed\u671f\u5229\u7387\u8a2d\u5b9a\u671f\u9593\uff0c\u7dad\u6301\u806f\u90a6\u57fa\u91d1\u5229\u7387\uff08federal funds rate\uff0c\u7f8e\u570b\u9280\u884c\u540c\u696d\u9694\u591c\u501f\u8cb8\u5229\u7387\uff0c\u4ea6\u662f\u806f\u5132\u653f\u7b56\u5229\u7387\u6838\u5fc3\uff09\u4e0d\u8b8a\u3002\u6c7a\u7b56\u5c64\u5df2\u6de1\u5316\u6e1b\u606f\uff08rate cuts\uff0c\u4e0b\u8abf\u5229\u7387\uff09\u53d6\u5411\uff0c\u4e26\u8868\u660e\u82e5\u901a\u8139\u672a\u898b\u964d\u6eab\uff0c\u6216\u6703\u52a0\u606f\uff08raise rates\uff0c\u4e0a\u8abf\u5229\u7387\uff09\u3002<\/p>\n<p>\u7f8e\u4f0a\u5c0d\u8a71\u4ee4\u5e02\u5834\u5c0d\u901a\u8139\u98a8\u96aa\u53ca\u5229\u7387\u524d\u666f\u4fdd\u6301\u5be9\u614e\u3002\u7f8e\u570b\u570b\u52d9\u537f\u99ac\u53ef\u30fb\u9b6f\u6bd4\u5967\u8868\u793a\u51fa\u73fe\u9f13\u821e\u8a0a\u865f\uff0c\u5df4\u57fa\u65af\u5766\u8abf\u505c\u65b9\u9810\u8a08\u5c07\u8a2a\u554f\u5fb7\u9ed1\u862d\uff0c\u4f0a\u6717\u6b63\u5be9\u8996\u83ef\u76db\u9813\u6700\u65b0\u65b9\u6848\u3002<\/p>\n<p>\u4f0a\u6717\u5b98\u54e1\u7a31\u4ecd\u672a\u9054\u6210\u5354\u8b70\uff0c\u4f46\u5206\u6b67\u6536\u7a84\u3002\u8def\u900f\u5f15\u8ff0\u6700\u9ad8\u9818\u8896\u7a46\u5409\u5854\u5df4\u30fb\u54c8\u6885\u5167\u4f0a\u8868\u793a\uff0c\u923e\u6fc3\u7e2e\uff08uranium enrichment\uff0c\u63d0\u5347\u923e\u540c\u4f4d\u7d20\u6fc3\u5ea6\uff0c\u5177\u6c11\u7528\u6838\u80fd\u8207\u8ecd\u4e8b\u654f\u611f\u6027\uff09\u53ca\u5c0d\u970d\u723e\u6728\u8332\u6d77\u5cfd\u7684\u63a7\u5236\u4ecd\u662f\u4e3b\u8981\u969c\u7919\uff1b\u4f0a\u6717\u4ea6\u6b63\u8207\u963f\u66fc\u8a0e\u8ad6\u6c38\u4e45\u6536\u8cbb\u5236\u5ea6\uff08permanent toll system\uff0c\u5c0d\u822a\u9053\u6216\u901a\u884c\u8a2d\u56fa\u5b9a\u6536\u8cbb\u6a5f\u5236\uff09\uff0c\u60df\u7f8e\u570b\u7e3d\u7d71\u7279\u6717\u666e\u5df2\u62d2\u7d55\u3002<\/p>\n<h3>\u4e3b\u8981\u5e02\u5834\u63a8\u52d5\u56e0\u7d20<\/h3>\n<p>\u6700\u65b0\u7f8e\u570b2026\u5e744\u6708\u6d88\u8cbb\u7269\u50f9\u6307\u6578\uff08Consumer Price Index\uff0cCPI\uff0c\u8861\u91cf\u4e00\u7c43\u5b50\u5546\u54c1\u53ca\u670d\u52d9\u50f9\u683c\u8b8a\u5316\uff09\u986f\u793a\u6838\u5fc3\u901a\u8139\uff08core inflation\uff0c\u6263\u9664\u6ce2\u52d5\u8f03\u5927\u7684\u98df\u54c1\u8207\u80fd\u6e90\u50f9\u683c\u5f8c\u7684\u901a\u8139\uff09\u653e\u7de9\u81f33.1%\uff0c\u4ee4\u300c\u5229\u7387\u9700\u9577\u671f\u7dad\u6301\u9ad8\u4f4d\u300d\u7684\u7406\u64da\u6e1b\u5f31\u3002\u884d\u751f\u54c1\u5e02\u5834\uff08derivative markets\uff0c\u4ee5\u671f\u8ca8\u3001\u671f\u6b0a\u7b49\u5408\u7d04\u4f5c\u4ea4\u6613\u7684\u5e02\u5834\uff09\u4ea6\u53cd\u6620\u6b64\u8da8\u52e2\uff1a\u806f\u90a6\u57fa\u91d1\u671f\u8ca8\uff08Fed funds futures\uff0c\u7528\u65bc\u62bc\u6ce8\u806f\u5132\u653f\u7b56\u5229\u7387\u8d70\u5411\u7684\u671f\u8ca8\u5408\u7d04\uff09\u76ee\u524d\u53cd\u6620\u7b2c\u56db\u5b63\u524d\u81f3\u5c11\u6e1b\u606f\u4e00\u6b21\u7684\u6a5f\u6703\u7d0465%\u3002\u5229\u7387\u524d\u666f\u8f49\u5411\uff0c\u6709\u52a9\u63d0\u5347\u6301\u6709\u767d\u9280\u9019\u985e\u7121\u606f\u8cc7\u7522\u7684\u5438\u5f15\u529b\u3002<\/p>\n<p>2025\u5e74\u5e02\u5834\u66fe\u95dc\u6ce8\u7684\u7f8e\u4f0a\u548c\u5e73\u8ac7\u5224\u672a\u80fd\u5e36\u4f86\u6301\u4e45\u5354\u8b70\uff0c\u970d\u723e\u6728\u8332\u6d77\u5cfd\u7dca\u5f35\u4ecd\u5c6c\u6f5b\u5728\u98a8\u96aa\u3002\u96d6\u975e\u5e02\u5834\u4e3b\u8981\u7126\u9ede\uff0c\u4f46\u4e00\u65e6\u5347\u7d1a\uff0c\u53ef\u80fd\u5f15\u767c\u5927\u5e45\u6ce2\u52d5\uff08volatility\uff0c\u50f9\u683c\u6025\u5347\u6025\u8dcc\uff09\u53ca\u300c\u907f\u96aa\u300d\u8cc7\u91d1\u6d41\uff08flight to safety\uff0c\u8cc7\u91d1\u8f49\u5411\u8f03\u88ab\u8996\u70ba\u5b89\u5168\u7684\u8cc7\u7522\uff09\u3002\u4ea4\u6613\u8005\u53ef\u8003\u616e\u4f7f\u7528\u671f\u6b0a\uff08options\uff0c\u8ce6\u4e88\u5728\u6307\u5b9a\u6642\u9593\u4ee5\u6307\u5b9a\u50f9\u683c\u8cb7\u5165\u6216\u8ce3\u51fa\u8cc7\u7522\u7684\u6b0a\u5229\uff09\u53bb\u754c\u5b9a\u98a8\u96aa\uff0c\u56e0\u5730\u7de3\u653f\u6cbb\u6d88\u606f\u4ecd\u53ef\u80fd\u4ee4\u5e02\u5834\u51fa\u73fe\u610f\u5916\u8d70\u52e2\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u5de5\u696d\u9700\u6c42\u660e\u986f\u8f49\u5f37\u30022026\u5e74\u9810\u6e2c\u986f\u793a\uff0c\u5168\u7403\u592a\u967d\u80fd\u677f\u884c\u696d\u5c0d\u767d\u9280\u9700\u6c42\u6216\u589e\u52a0\u903e15%\uff0c\u70ba\u50f9\u683c\u63d0\u4f9b\u8f03\u660e\u986f\u5e95\u90e8\u3002\u9019\u7a2e\u5be6\u7269\u9700\u6c42\uff08physical demand\uff0c\u4f86\u81ea\u5be6\u969b\u4f7f\u7528\u6216\u6295\u8cc7\u5be6\u7269\u7684\u9700\u6c42\uff09\u610f\u5473\u4e0d\u5b9c\u8f15\u6613\u5efa\u7acb\u5927\u984d\u300c\u6cbd\u7a7a\u300d\uff08short positions\uff0c\u62bc\u6ce8\u50f9\u683c\u4e0b\u8dcc\u7684\u8ce3\u51fa\u6301\u5009\uff09\u3002<\/p>\n<p>\u91d1\u9280\u6bd4\uff08Gold\/Silver ratio\uff0c\u4ee5\u9ec3\u91d1\u50f9\u683c\u9664\u4ee5\u767d\u9280\u50f9\u683c\u8a08\u7b97\uff09\u73fe\u7d04\u70ba88:1\uff0c\u9060\u9ad8\u65bc\u7d0465:1\u768421\u4e16\u7d00\u5e73\u5747\u6c34\u5e73\u3002\u904e\u5f80\u91d1\u9280\u6bd4\u8f03\u9ad8\u5f80\u5f80\u4ee3\u8868\u767d\u9280\u76f8\u5c0d\u9ec3\u91d1\u88ab\u4f4e\u4f30\u3002\u9019\u610f\u5473\u672a\u4f86\u6578\u5468\u6216\u53ef\u7559\u610f\u300c\u505a\u591a\u767d\u9280\u3001\u540c\u6642\u505a\u7a7a\u9ec3\u91d1\u300d\u7684\u7b56\u7565\uff08\u76f8\u5c0d\u50f9\u503c\u4ea4\u6613\uff0c\u65e8\u5728\u62bc\u6ce8\u5169\u8005\u50f9\u5dee\u8b8a\u5316\uff09\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u9280\u50f9\u56de\u5410\uff0c\u806f\u5132\u653f\u7b56\u524d\u666f\u672a\u660e\uff0c\u52a0\u4e0a\u970d\u723e\u6728\u8332\u6d77\u5cfd\u98a8\u96aa\u63a8\u5347\u901a\u8139\u6182\u616e\uff0c\u77ed\u7dda\u53d7\u58d3\uff1b\u60df\u5de5\u696d\u9700\u6c42\u7e8c\u5f37\uff0c\u70ba\u50f9\u683c\u63d0\u4f9b\u5e95\u90e8\u652f\u6490\u3002<\/p>\n","protected":false},"author":125,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50499","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/50499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/comments?post=50499"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/posts\/50499\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/media?parent=50499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/categories?post=50499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/zh\/wp-json\/wp\/v2\/tags?post=50499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}