Gold and silver prices are currently falling as central bank policies and inflation affect market values.

由於中央銀行政策與通貨膨脹影響市場價值，目前金價與銀價均在下跌。

The current drop in precious metal prices follows a period of strong growth in 2025, when gold and silver rose by 66% and 135%. However, this trend changed in early 2026. Prices became more unstable, and gold was seen as less of a 'safe' investment after the U.S.-Iran conflict began in February. Current data shows that gold is trading below $4,000, while silver has lost 20% of its value so far this year.

貴金屬價格目前的下跌，是繼 2025 年強勁增長之後，當時金價與銀價分別上漲了 66% 與 135%。然而，這一趨勢在 2026 年初發生改變。價格變得更不穩定，且在 2 月美伊衝突爆發後，黃金被視為不再是那麼「安全」的投資。目前數據顯示，金價交易價格低於 4,000 美元，而白銀今年以來已下跌 20%。

Market trends are mainly driven by the Federal Reserve's monetary policy. Macquarie experts emphasized that a 'hawkish' approach—which includes a planned interest rate increase in the fourth quarter—has made the U.S. Dollar stronger. Consequently, assets that do not pay interest, like gold, have become less attractive. Similarly, the European Central Bank and the Bank of Japan raised rates due to energy crises. Although the World Gold Council reports that 90% of central banks still want to increase their gold reserves to protect against inflation, OCBC analysts assert that prices will remain unstable unless interest rates stabilize.

市場趨勢主要由聯準會的貨幣政策驅動。麥覺理專家強調，一種「鷹派」手段——包括計劃在第四季調高利率——使得美元走強。因此，像黃金這種不支付利息的資產，吸引力有所下降。同樣地，歐洲央行與日本銀行也因能源危機而調高利率。儘管世界黃金協會報告指出，90% 的中央銀行仍希望增加黃金儲備以對抗通膨，但華僑銀行分析師主張，除非利率穩定，否則價格將維持不穩定。

In the luxury sector, companies are changing how they operate to deal with unstable material costs. High-end jewelry brands, such as Lucy Folk and Erede, have started using 'made-to-order' models to fix their costs. Furthermore, they are diversifying their products by using sterling silver and aluminum. These companies report that wealthy customers are still buying custom pieces, which suggests that they still see the long-term value of these metals despite the market volatility.

在奢侈品領域，公司正改變營運方式以應對不穩定的材料成本。高端珠寶品牌如 Lucy Folk 與 Erede 已開始採用「接單生產」模式以固定成本。此外，他們透過使用純銀與鋁來將產品多元化。這些公司報告指出，富裕客戶仍持續購買客製化產品，這顯示儘管市場波動，他們依然認可這些金屬的長期價值。

Precious metals are currently under pressure because of high interest rates, although long-term demand from banks and the luxury market provides some support.

貴金屬目前因高利率而承受壓力，儘管來自銀行與奢侈品市場的長期需求提供了一些支持。