Precious metals saw a significant drop in prices during the first half of the year, but they have recently shown a small recovery due to new expectations regarding US interest rates.

貴金屬價格在今年上半年大幅下跌，但近期由於對美國利率的新預期，價格呈現小幅回升。

During the first six months, the value of precious metals declined steadily. This was caused by geopolitical instability involving the US, Israel, and Iran, which led investors to move their money into safer assets like the US dollar and high-yield bonds. Consequently, the Federal Reserve's plan to fight inflation and raise interest rates pushed gold prices down from a peak of $5,600 in January to $4,007 per ounce by June. Silver and platinum followed a similar pattern, falling by 17.4% and 24.4% respectively, while palladium dropped 24.2% as China shifted more toward electric vehicles.

在前六個月，貴金屬的價值穩定下降。這是由於美國、以色列與伊朗之間的地緣政治不穩定，導致投資者將資金轉向美元和高收益債券等更安全的資產。因此，聯準會對抗通貨膨脹與調高利率的計劃，使金價從一月份的峰值 5,600 美元下跌至六月份的每盎司 4,007 美元。白銀與鉑金也呈現類似走勢，分別下跌 17.4% 與 24.4%，而由於中國更傾向於電動車，鈀金則下跌了 24.2%。

However, recent market trends suggest this decline may be ending. New employment data from June showed much lower job growth than expected, which reduced the likelihood of another interest rate hike in September. As a result, gold prices have risen slightly above $4,100. While demand in India is currently low due to the season, buying interest in China has improved. Furthermore, a potential agreement between the US and Iran to stop fighting has helped stabilize energy prices and reduce inflation risks.

然而，近期的市場趨勢顯示這種跌勢可能即將結束。六月份的最新就業數據顯示，就業增長遠低於預期，這降低了九月份再次調高利率的可能性。因此，金價已輕微回升至 4,100 美元以上。雖然目前因季節因素導致印度需求較低，但中國的購買意願有所改善。此外，美國與伊朗之間可能達成停止戰鬥的協議，有助於穩定能源價格並降低通貨膨脹風險。

Although precious metals have seen their first weekly gain in over a month, a long-term recovery depends on a clear change in the Federal Reserve's policy and a decrease in real yields.

雖然貴金屬在一個多月以來首次錄得週線增長，但長期回升仍取決於聯準會政策的明確轉變以及實際收益率的下降。