美元上涨 金银上涨
纽约商品期货交易所（COMEX）2月黄金期货1月20日收盘上涨不到0.1%，收报每盎司1254.66美元，白银期货上涨0.1%，收报每盎司20.32美元。昨日是美国假期(马丁路德金纪念日)，美国的金股汇债市一律休市，国际现货金提早收市。一如过往，因交投淡静，金价窄幅上落，高低波幅不过10美元。
全球最大黄金白银ETF持平不变：全球最大黄金ETF（交易所交易基金）–SPDR黄金信托基金（GLD.US）17日黄金持有量持平为797.05公吨。最大的白银ETF–安硕白银指数基金（SLV.US），白银持有量持平为10，029.22公吨。
黄金ETF增持 将对黄金构成支持：SPDR黄金ETF持仓量在上周增加3.93吨，上周五投资者增持7.49吨。可以明显看出，尽管中长期内投资者仍以抛售黄金为主，但减持速度已经明显递减。对通胀上升的担忧可能是投资者短期内逢低买进黄金的原因之一，尽管目前美国通胀仍维持低迷，如12月核心CPI年率维持在1.7%，11月核心PCE年率维持在1.1%，但通胀预期明显上升，1月16号通胀预期（以美国10年期国债收益率减同期TIPS收益率衡量）升至2.25%，高于2013年11月和12月水平，美国经济加速复苏可能是推动通胀预期升温的主要原因。未来数周ETF持仓量变化将是关注焦点，若长期投资者重新买进黄金（ETF持仓量持续回升），则投资性需求有望为金价提供较强支持。
本文来源： 大田环球贵金属
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