Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">
新年伊始获利回吐超过新买入数量……
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">今年一月，由于黄金价格的持续上涨，尽管新买家激增，但原有的投资者获利回吐的数量更多，推动黄金投资需求下滑，结束了连续六年来的新年首月投资增长的趋势。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">以美元计价的黄金价格已经连续九年在新年第一个月获得上涨，这是一种不同寻常的模式。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">受到美国和伊朗在伊拉克爆发战争，中国爆发冠状病毒疫情的推动，黄金价格在2020
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">年首月上涨，同时也看到BullionVault
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">在这个月出现近0.6%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">的平仓率。这也让BullionVault
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">的黄金总持有量从去年十二月的历史新高减少了近四分之一吨至39
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">吨。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">尽管持有总量下跌，但是由于黄金价格的上涨，这让BullionVault
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">黄金总价值不跌反涨3.4%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，升至20
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">亿美元。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">而2020
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">年1
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">月也是2016
mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:
SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">年11
SimSun;mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:
Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">月美国大选以来，新用户数量第三多的一个月。本月购买黄金的人数较十二月增加了4.7%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，但卖出黄金的人数也激增88.7%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，是去年六月以来的最高水平。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">这也推动BullionVault
mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:
SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">的黄金投资者指数从去年十二月的55.6
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">下降至53.5
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">尽管黄金价格在过去九年的第一个月都出现上涨，但是黄金投资者指数在第一个月也全部都出现下跌。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">基金经理会在每年的开始整理投资组合，买入一些黄金来作为新年的金融保险，这种举动会推高金价。而私人投资者则往往会利用新年价格的上涨来获利回吐，同时也有新的私人投资者在分散他们的投资风险，加入实物黄金的投资中。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">那些在2019
mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:
SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">年新年期间购买了黄金的买家们，知道2020
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">年元旦，他们所购买的黄金价格上涨了近170
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">美元每盎司，而这些投资者占了一月黄金卖家的14.1%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">而新的买家方面，一月来自欧元区的新买家增长率高达121.6%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，而英国新买家则下跌5.4%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，美国新买家更是下跌了29.9%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，总体来看，所有新买家数量较过去五年平均水平增长38.6%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">白银方面，和黄金一样，白银价格在今年一月再次上涨，美元银价上涨近5%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，达到去年九月以来的最高月均价格每盎司17.97
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">美元。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">白银买家的数量在一月份也有所增加，上涨6.7%
SimSun;mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:
Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，但出售者的数量跃升36.6%
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">，创下去年九月以来的最高水平。这推动白银投资者指数从十二月的53.5
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">下跌至52.6
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">同样的，一月份BullionVault
SimSun;mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:
Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">白银的总持有量也继续创下新纪录，增加7
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">吨至829
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">吨，总价值高达4.77
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">亿美元。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">尽管贵金属在今年一月出现了七年来最强劲的开局，但白银仍然在寻找净需求，但到目前为止，黄金在2020
minor-latin;mso-fareast-font-family:SimSun;mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin" xml:lang="ZH-CN">年仍满足了短线交易者的获利了结。
Calibri;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:SimSun;
mso-fareast-theme-font:minor-fareast;mso-hansi-font-family:Calibri;mso-hansi-theme-font:
minor-latin" xml:lang="ZH-CN">但是推动这种强势上升的因素似乎还在继续，由于政治和经济的不确定性仍然没有减弱的迹象，这将使金价保持波动，同时吸引新的长期投资资金进入实物黄金市场。
