金價從高位回落，實物供應擔憂加強
關鍵字：實物供應擔憂加強
在4月7日的現貨黃金市場中，金價出現回落，原因在於全球疫情的病例增加速度有所緩和，提振了全球股市，黃金的避險作用有了一定降低，同時紐約金價比倫敦市場貴了許多，這一價差被市場認為是期貨合約轉為實物的成本。
正告訴我們的是，疫情或將結束，但世界絕不是運轉良好的，也絕不是能讓人冒險的”；他還補充稱，對長期內出臺更多刺激措施、降低利率的預期將繼續支撐金價。
COMEX 6月黃金期貨收跌0.6%，報1683.70美元/盎司；繼續高於倫敦現貨金價格，倫敦現貨金價大約為1649美元，暗示市場擔心煉廠關閉及物流限制可能妨礙金條向美國付運，以至於無法滿足合約規定。
自上週末以來，芝商所(CME Group)紐約金庫黃金庫存已躍升近50%，因該交易所此前推出一份新合約，且自疫情爆發以來，價格升水鼓勵交易商囤積黃金。
大約兩周前發生了類似的分化，因為冠狀病毒危機中斷了供應鏈並導致航班取消，在4月期貨合約即將可以交割之際令市場擔憂紐約金條短缺。最後，包括摩根大通在內的銀行提供了更多黃金，交易所庫存升至滿足交割需求綽綽有餘的水準。
然而，價差的再度擴大表明，投資者依然擔心供應中斷，即使當前主力期貨合約的交割時間（6月）還很早。大田環球稱，都是供應物流的問題，當幾周內有更多提煉廠復工時，預計價差將回落，至少恢復到更正常水準。
本文來源： 大田環球貴金屬
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