The price of gold keeps climbing to unprecedented heights. Here's why
黄金价格不断攀升至前所未有的高度，原因如下
The rush for gold just keeps coming. Gold hit another all time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world.
黄金热潮持续不减。本周黄金价格再创历史新高。贵金属近期的上涨很大程度上归因于经济持续不确定性，地缘政治紧张局势和世界各国央行的强劲需求。
If trends continue, analysts have bullish outlooks on the price of gold for the months ahead. But the future is never promised. Where does the price of gold stand today?
如果这种趋势继续下去，分析师们看好未来几个月黄金价格走势。但未来总是充满变数，难以预测。今日金价多少？
The New York spot price of gold closed Tuesday at just over $2,657 per Troy ounce — the standard for measuring precious metals, which is equivalent to 31 grams — the highest recorded to date, per FactSet. That would make a gold bar or brick weighing 400 Troy ounces worth more than $1.06 million today.
周二收盘时，纽约黄金现货价格略超过每金衡盎司2657美元——这是衡量贵金属的标准单位，这相当于31克黄金，据FactSet统计，这是迄今为止，有记录以来的最高价格。这意味着一块重400金衡盎司的金条或金砖，在今天价值超过106万美元。
This week's record high means that the price of gold has climbed hundreds of dollars per Troy ounce over the last year. Tuesday's price is up nearly $145 from a month ago and more than $740 from this time in 2023.
本周创下历史新高，这意味着黄金价格较去年每盎司上涨了数百美元。周二的价格比一个月前上涨了近145美元，比2023年同期上涨了740多美元。
The price of gold is up nearly 30% year to date, analysts note — outpacing the benchmark S&P 500's roughly 20% gain since the start of 2024. Why is the price of gold going up? There are a few factors behind the recent gains.
分析师指出，黄金价格自年初以来上涨了近30%，相较于自2024年初以来标普500指数上涨了约20%。为何金价上涨？最近黄金价格上涨背后有几个因素。
Interest in buying gold often comes at times of uncertainty — with potential concerns around inflation and the strength of the U.S. dollar, for example, causing some to look for alternative places to park their money. Gold also surged in the early days of the COVID-19 pandemic.
在不确定性增强的时期，投资者对黄金的偏好往往会上升。例如，对通货膨胀的担忧以及美元汇率稳定性的不确定性，促使许多人寻找新的资金避风港，而黄金便成为了他们的首选之一。在新冠疫情初期黄金价格也上涨了。
Among sources of uncertainty today are geopolitical tensions — which escalated over recent days with Israel's deadly strikes in Lebanon. And the ongoing wars in Gaza and Ukraine have continued to fuel fears about the future worldwide.
当今不确定性的来源之一是地缘政治紧张局势——近几天来，随着以色列对黎巴嫩的致命打击，这种紧张局势不断升级。加沙和乌克兰的持续战争让全球对未来更加忧虑重重。
In markets like the U.S., there's also particular concern about the health of the job market. Last week's larger-than-usual half-point cut by the Federal Reserve signals a new focus on slowing employment numbers, and more rate cuts are expected before the end of the year. And such action arrives in the midst of a tumultuous election year — which could prove crucial to economic policy in the road ahead, too.
在美国等市场，人们还特别担忧就业市场的状况。上周，美联储实施了超出常规的半个百分点降息举措，标志着其新重点是控制就业增长的速度，预计年底前还会降息。而且，这样的行动发生在动荡的选举年之中，这可能对未来的经济政策也至关重要。
In the near future, people are considering "any case of turbulence in the economy," FxPro senior market analyst Michel Saliby explained. "This is why they're keeping a decent portion of gold in their portfolio as a 'safe haven.'"
FxPro高级市场分析师米歇尔·萨利比解释说，在不久的将来，人们正在密切关注经济领域可能出现的任何波动。“这就是为什么他们会在投资组合中保留相当比例的黄金，作为‘避风港’。”
Analysts also point to strong demand from central banks around the world. Joe Cavatoni, senior market strategist at the World Gold Council, noted last month that central bank demand was well-above the five year average — reflecting "heightened concern with inflation and economic stability."
分析师还指出，世界各国央行的强劲需求。世界黄金协会高级市场策略师乔·卡瓦托尼上个月指出，中央银行的黄金需求远高于五年平均水平，这体现了“对通货膨胀和经济稳定性的深切担忧”。
Recent stimulus measures in China aimed at boosting consumer spending are also expected to up retail investments, Saliby added, further boosting gold's performance.
中国近期推出的旨在刺激消费的措施，预计也将带动零售投资的增长，萨利比还补充道，这对黄金市场发展会产生积极的推动作用。
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