M2货币供应对炒黄金的影响
关键字：M2货币供应对炒黄金的影响
什么是M2货币供应？M2货币是指广义货币，广义货币的规模大小，和社会流通货币总量、活期存款、定期存款及居民储蓄存款紧密相连，与此同时，M2是建立在M0和M1的基础上的，M0是指一定时点内，单位和个人所持有的现金可以直接作为流通手段和支付手段进入商品经济的流通领域，M1是指M0加上企事业单位的活期存款，活期存款可以随时签发支票和变现，而M2则指M1加上活定期和储蓄存款的货币供应量。
从下面的公式中，我们可以了解M2货币供应与M0和M1的关系：
M2货币供应=M1（单位和个人的持有现金+企事业单位活期存款）+企事业单位定期存款+居民储蓄存款
由公式可得，M2货币供应量包含企事业单位和个人的定期和储蓄存款，所以其流动性较M0和M1要低，三者当中货币供应流动性最高的是M0。由于M2包含的是国家企事业单位和个人的所有存款和流通中的现金，所以它反映的是总体的基础货币供应和社会总需求的合理意义，是通胀评估的重要考量之一。
M2货币供应对黄金投资的影响，主要反映在M2货币供应量与M1之间的同向和逆向关系，当M2货币供应高于M1时，反映企事业单位和个人都把钱存在了银行，在国家财政调控政策不变的情况下，存款资金量高于市场的流动资金量，一方面反映散户和企事业单位把资本投放至金融市场，使实体经济增长动能受压，危害重要产业的发展，而金融市场则存在一定的泡沫，当M2货币供应低于M1时，反映企事业单位和个人把钱从银行取出，支出需求高于储蓄和投资需求，商品将面临暴涨的风险，从而引发通胀危机。
所以，M2货币供应的稳态，对黄金投资的热度存在绝对的影响，由于黄金具有天然的保值功能，故在M2货币供应与M1出现失衡时，尤其是引发通胀危机或金融泡沫的时期，黄金价格都会获得上涨动能，此时是黄金多头进场炒金的好时机。
本文来源： 大田环球贵金属
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