全球经济低迷 黄金不降反升（中英双语）
青岛希尼尔翻译咨询有限公司（www.sinosenior.com）整理发布 2016-01-06
青岛希尼尔翻译公司（www.sinosenior.com）2016年1月6日了解到：
It’s not a happy new year for investors ... unless you’re a gold bug.
今年对投资者来说可不是个好年头，除非你是个主张黄金本位的人。
Gold was one of the few things that was up on Monday while stock markets around the world tanked due to renewed worries about an economic slowdown in China and more tension in the Middle East.
周一，在全球股市低迷的时候，黄金不降反升。有人担心中国的经济将会下滑，中东局势更加紧张。
The yellow metal rose nearly 2% to about $1,080 an ounce. Gold mining stocks were rallying too.
黄金上涨了2%，达到1080美元一盎司，金矿股票也上涨了。
Newmont (NEM) was up 3%, making it one of the top performers in the S&P 500. In fact, Newmont was one of just 23 stocks in the index that was up in late-morning trading Monday. (Most of the gainers were energy companies, thanks to a spike in oil prices.)
纽蒙特上涨了3%，在标普500指数中成绩居榜首，纽蒙特是周一早间上涨的23支股票之一（由于石油价格，大多数获利者都是能源公司）。
And the Market Vectors Gold Miners ETF (GDX), which includes Newmont as well as other major global miners like Goldcorp (GG), Barrick (ABX) and Randgold (GOLD), was up about 3%.
市场推动者包括纽蒙特和其他全球矿产大亨，例如黄金公司、巴利克公司和蓝德黄金公司等在内的交易型开放式指数基金上涨了3%。
It makes sense for gold to be in the green while everything else is starting off 2016 in red. Gold often does well during times of fear. It rose in 2008, for example.
如此一来，黄金价格在一片萧条中不降反升就说的通了。在萧条时代，黄金通常会大涨。例如在2008年时黄金价格就是上升趋势。
And a major slump in China coupled with concerns about a potential conflict between Iran and Saudi Arabia sounds pretty scary. "Today’s surge in gold is mostly due to fear," said Ed Moy, a former director of the U.S. Mint and chief strategist for Fortress Gold Group.
中国的经济趋势下降，使得人们开始担忧伊朗和阿拉伯的潜在冲突。 “如今金价上涨还是来源于人们的恐惧。”美国造币长负责人兼黄金小组的首席战略家艾德说道。
To that end, CNNMoney’s Fear & Greed Index, which looks at seven measures of investor sentiment, dipped into Fear territory on Monday.
说到底，尽管CNN的金钱恐惧和贪婪指数为投资者想了七种办法，但是在周一还是陷入了深深的恐惧之中。
So will 2016 be the year when fear is the dominant emotion ruling the market?
2016年，主导市场的会是恐惧吗？
If so, that could mean an end to gold’s three year losing streak.
如果是这样的话，金价三年下跌即将结束。
Gold prices fell more than 10% last year and has plunged nearly 45% from its all-time high (not adjusted for inflation) of above $1,900 an ounce back in the fall of 2011.
去年，金价下跌了10%，比最高价格下跌了45%（不考虑通货膨胀）。2011年秋天，一盎司黄金售价为1900美元。
At that time, investors were worried about the health of the U.S. market in the wake of a credit rating downgrade by Standard & Poor’s.
那时，投资者们担心美国市场会标普信用等级下跌。
Moy does not think that gold will get anywhere close to 2011 levels anytime soon.
莫伊认为金价无论如何也不可能再像2011年那样了。
But he thinks gold might go as high as $1,200 to $1,300 an ounce by the end of 2016.
但是他认为到2016年年底，一盎司黄金将达到1200美元到1300美元的售价。
The main reason? Concerns about a sluggish global economy aren’t going away anytime soon.
为什么呢？因为对于低迷经济的担心并不会消失。
There’s also the fact that gold has been down for so long, it may finally have reached bottom.
黄金价格已经下跌这么久，或许已经触底了。
"A small allocation to gold does make some sense. It has done so poorly over the past few years. So there’s probably not a lot of downside," said Bill Lynch, director of investments with Hinsdale Associates.
“存一小部分金子是有道理的，过去几年中这么做的人很少。所以这可能并不是经济下行的原因。”欣斯代尔联合公司主管比利·林奇说。
It all comes back to fear.
这一切都是源于恐惧。
There are actually two good reasons why gold shouldn’t do well this year.
今年金价不乐观来源于两个原因。
Expectations of more interest rate hikes from the Federal Reserve should be a bad sign for gold. Higher rates would make bonds and dividend stocks more attractive to investors than gold -- which yields nothing.
美联储的高汇率是金价变化的一个坏兆头。高汇率会让投资者们对股市的兴趣大过对金子的兴趣——而这却毫无产出。
There’s also a lack of inflation around the world.
并且，全世界通货膨胀匮乏。
Gold usually is viewed as a great hedge against inflation. Rising prices can hurt the value of paper currencies, but not gold.
人们通常认为金子是对抗通货膨胀的武器。物价高可以打击纸币价值，而不是金价。
None of that mattered Monday though. Interestingly, Bitcoin (XBT) prices also rose Monday -- another possible sign of the high anxiety on Wall Street. (Cue the Mel Brooks.)
但这些都不会影响周一的数据。有趣的是，比特币价格在周一也上升了——这是另一个华尔街引起人们焦虑的信号。
So gold could continue to rally this year -- despite low inflation and rising rates -- as long as investors remain nervous about China and the Middle East.
所以金子今年会持续走高——尽管低通货膨胀和高汇率——只要投资者们对中国和中东感到焦虑，金价就会一直走高。
"Hard landing fears in China are legitimate. And what happens between Saudi Arabia and Iran is a big unknown," said Jack Ablin, chief investment officer with BMO Private Bank. "It’s possible gold could outperform stocks this year because of the uncertainty."
“中国硬着路的恐惧是合理的。阿拉伯和伊朗要发生什么无人知晓。”BMO私人银行的办公室投资主任杰克·阿布林说。“因为这种不确定性，金价比股价更旺也未曾可知。”
来源:CNN
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