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市场动态 | 黄金正与美联储资产负债表脱钩 自 2022 年以来,美联储一直在收紧资产负债表(QT),但黄金价格并未下跌,反而始终维持在接近历史高位的水平。 黄金展现出极强的相对强势,证明其表现并不依赖于“印钞机”。这一结构性转变表明,当前全球对黄金的需求更多来自各国央行的持续买入以及避险属性,而不再仅仅由美元流动性所驱动。 #黄金 #XAU #资产负债表 #避险

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