负利率为什么会提振黄金？
最近美联储主席鲍威尔在发布讲话时提到，尽管目前美国经济情况不容乐观，但还会坚持不启用负利率政策。可能有的投资者就会有疑问了：启动负利率政策会带来什么影响？结合既往看来，负利率政策往往会对黄金起到短期提振作用，但这是为什么呢？
其实负利率政策之所以能刺激金价上涨，主要是有以下原因：
1、由于负利率的不确定性和压力，投资者往往会令市场对黄金的兴趣上升，美国央行货币政策如果朝负利率方向发展，明显地就是鼓励更多资金流入黄金市场，这自然就会利好黄金；
2、负利率的主要影响就是惩罚储户。在负利率的环境下，储户持有大量现金并不现实，尤其是公司或高净值个人。而相比大量现金，黄金更易于储存且储存费用更低，并且更耐用和更易于运输；
3、在负利率的影响下，投资者为了寻求资本回报，就会将资金大量转入黄金等避险产品市场中，在短期内将不利于美元的发展，一旦美元发生承压，金价自然就会往上涨；
4、在市场风险厌恶情绪高涨的环境下，投资者往往更希望资本保值而非资本回报。如果短期内负利率无法实现货币贬值目标，美国央行也会直接干预令美元贬值，这种威胁也使黄金更具吸引力。因为黄金并不受制于任何政府的货币政策，所以黄金市场被干预的风险较低。这使得黄金相对于其他避险相关投资，吸引力也大大上升。
总得来说，负利率之所以能提振黄金，主要还是因为在负利率环境下，市场避险情绪往往会被点燃，使得大量资金涌入黄金市场中，金价自然就会水涨船高了。如果投资者想把握这类黄金趋势赚钱的话，平时就要多留意美国的货币政策这类国际消息，才能准确根据消息分析预判行情！
本文来源： 大田环球贵金属
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