经济的不确定性将黄金价格推至历史新高

经济的不确定性将黄金价格推至历史新高

In uncertain economic times, investors tend to put their money in gold. So it's perhaps little surprise that gold prices started to rise at the beginning of the year as the coronavirus started spreading in the world and investors feared a global economic downturn.

在经济不稳定时期，投资者倾向于把钱投在黄金上。因此，当冠状病毒开始在全球蔓延，投资者担心全球经济衰退时，金价在年初开始上涨，或许就不足为奇了。

Gold prices have soared nearly 30% so far this year. On Monday, the settlement price for gold futures reached a record high of $1,931 per ounce — and many analysts predict gold will top $2,000 by September.

今年以来，黄金价格已经飙升了近30%。周一，黄金期货结算价达到每盎司1,931美元的创纪录高位，许多分析师预测，金价将在9月前突破每盎司2,000美元。

Gold usually rises alongside investors' uncertainty in the economy. It's a "safe haven" for investors who want to hedge their bets against a falling dollar and instability in financial markets, said Lindsey Bell, chief investment strategist for Ally Invest.

金价通常会随着投资者对经济的不确定性而上涨。对于那些希望对冲美元贬值和金融市场不稳定风险的投资者来说，这是一个“安全港”，Ally Invest首席投资策略师林赛•贝尔说。

And, as long as investors are still unsure about the health of the market, they'll continue putting money into gold, she said.

她说，只要投资者对市场的健康状况仍不确定，他们就会继续投资黄金。

As the pandemic slammed the economy in March, the Federal Reserve slashed U.S. interest rates to historic lows to keep the economy afloat. "Gold historically has moved in the opposite direction of the interest rate and the dollar," Bell explained.

在3月流行病重创经济时，美国联邦储备理事会(美联储，FED)将利率降至历史低点，以维持经济。“从历史上看，黄金与利率和美元走势相反，”贝尔解释说。

Though high gold prices could be an indicator of uncertainty in the economy, financial markets have generally been performing well — in large part thanks to aggressive steps taken by the Fed. The S&P 500 stock index, which dropped 34% from its record high in March, is now up slightly for the year.

尽管黄金价格高可能是经济不确定性的一个指标，但金融市场总体表现良好，这在很大程度上要归功于美联储采取的积极措施。标普500指数较3月份的历史高点下跌了34%，今年以来略有上涨。

"They threw a lot of money at the market to make sure it was operating efficiently back in March when things all came to a head," Bell said. She noted that the Fed's actions accompanied "government stimulus measures like the $1,200 checks, PPP loans and unemployment relief."

贝尔说:“他们在3月份的时候向市场投入了大量资金，以确保市场能有效运作。她指出，美联储的行动伴随着“1200美元支票、购买力平价贷款和失业救济等政府刺激措施”。

But Bell notes that putting all of this government money in the system creates more government debt. This drives more people to buy gold as a hedge against potential inflation caused by the mounting debt.

但是贝尔指出，把所有这些政府资金投入到金融体系中会产生更多的政府债务。这促使更多的人购买黄金，以对冲不断增加的债务可能引发的通胀。