2026-01-12 13:28:24

Today's market reveals an interesting phenomenon—investors around the world seem to be placing completely different bets.

Let's start with the global scene. Gold prices have been soaring, today breaking through the $4,600 mark to hit a new all-time high. Domestic jewelry prices are also rising along with it, reaching as high as 1429 yuan/gram. Silver's performance is even more aggressive; after a 12% increase last week, it continues to push higher this week. The underlying logic is quite straightforward—geopolitical tensions in Iran and other regions are intensifying, the US non-farm payroll data appears weak, and the market generally expects the Federal Reserve to cut interest rates, which boosts traditional safe-haven assets. Investors are voting with their feet, and gold and silver are their answers.

Turning to the domestic market, it's a different story. The three major indices all rose over 1%, but what really caught attention was the trading volume—only 20 minutes into the morning session, a trillion yuan in transactions was recorded, and the total trading volume across both markets exceeded 3 trillion yuan for the day. This is real hot money flowing in. AI-related concepts (from Sora to language models) and commercial aerospace sectors surged across the board, becoming the market's new favorites.

Interestingly, beneath these impressive numbers, there are hidden risks. Futures prices surged, but stocks didn't follow much; trading volume increased, yet brokerage stocks actually declined. The market's divergence is becoming more pronounced.

Overall, global funds are on the defensive, while domestic funds are on the offensive. A world with two different logics—how long this opposing stance can last remains to be seen.

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Deconstructionist

· 3h ago

Gold is soaring, and the A-shares market is also excited, but this kind of divergence looks a bit虚啊 It feels like the whole world is bottoming out on gold, while we are still chasing the AI dream. Neither side is wrong, but both are a bit急 The 3 trillion trading volume is real, but the disconnect between futures and stocks... is truly恐怖 upon closer thought 20 minutes into the morning session, 1 trillion? This hot money is a bit躁啊, can it稳住? Two different scripts in one world, who will翻车? That's the real看点吧 Gold breaking 4600 isn't surprising anymore; rather, the divergence on the A-shares side is making people摸不着头脑 Futures rise while stocks fall, trading volume爆了 but brokerages拉垮, it's indeed a bit诡异 Global tightening while domestic enthusiasm is high, how long can this节奏维持? I always feel like something要出事儿

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MemecoinTrader

· 01-12 15:44

ngl the divergence play here is *chef's kiss*... global hedging vs domestic fomo, classic two-market arbitrage setup. 3 trillion volume on pure ai/space hype while gold breaks records? someone's definitely playing both sides and we're just here watching the narrative cascade unfold lmao

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FreeMinter

· 01-12 13:57

Gold has already hit a historical high, and we're still trading AI? It seems like the enthusiasm in the domestic market won't last long.

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LeverageAddict

· 01-12 13:56

Gold has already hit a new all-time high, and we're still chasing AI? The divergence is so severe, I have a feeling something's going to happen.

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MysteriousZhang

· 01-12 13:55

Is it still worth chasing after gold breaking 4600? I think this is just capital fleeing. The Fed's rate cut expectations are right there, and the whole world is bottom-fishing for safe-haven assets. On the domestic side, things are quite lively. A trading volume of 3 trillion sounds impressive, but futures are up while stocks are not, and brokerage stocks are still falling. The divergence is just too stark. Two sets of logic are clashing, and it's really hard to say who will win or lose. I just can't understand this wave. In the first 20 minutes of the morning session, 1 trillion? Where is this hot money coming from, and where is it going? I have no clue. Concept stocks like Sora and Aerospace keep hyping up, but someone has to take the buy-in, right? I'm just worried it will end up in a mess again.

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SleepyValidator

· 01-12 13:46

Global bottom-fishing for gold, domestic All-in AI aerospace. If this divergence reverses, what should we do...

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PumpingCroissant

· 01-12 13:41

Gold has broken 4600, the safe-haven sentiment is really heating up. By the way, the domestic enthusiasm hasn't cooled down either. The AI sector is being heavily speculated, but it all feels a bit虚幻 --- 3 trillion yuan in trading volume, this热度 is real, but futures can't keep up with stocks. The divergence is quite interesting --- Global tightening, while we are still pushing forward. The contrast is indeed大, not sure how long it can last --- Silver has risen 12% in a week, gold has hit a new high, but domestically people are still疯狂炒作 AI? Two sets of logic are really a bit离谱 --- Futures surged but stocks didn't follow, and brokerages actually fell. What are they playing at? The divergence has gone a bit too far --- It feels like the world is bottoming out gold, while we are still dreaming about炒题材. Sooner or later, we need to回归现实 --- Geopolitical tensions are escalating, and the Fed's expectation of interest rate cuts is so strong. No wonder gold is so猛, but why are we still玩 AI here?

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AirdropAnxiety

· 01-12 13:29

Global risk aversion and domestic speculation, the difference is just too big... Gold is pushing to 4600 while we're still chasing AI concepts, I have a feeling one side is going to crash.

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ApyWhisperer