黄金定价机制与我国构建黄金定价权战略研究.pdfVIP

摘要 黄金是一种兼具货币和金融功能的特殊商品。这也决定了黄金价格制定的复 杂性，其价格不仅仅是由某种属性单方面决定，而是由多种属性共同作用的结果。 黄金商品属性决定其价格影响因素为黄金的一般商品供给和需求。黄金货币属性 决定其价格受社会生产成本和平均利润以及货币购买力共同决定。黄金金融属性 决定其价值表现在与其他投资产品的比较之中。 本文采用定性和定量相结合的研究方法，从理论和实证两方面对国际黄金价 格制定进行了分析。黄金定价不仅要考虑商品性供求关系，还要考虑投资性供求 关系。黄金投资性供求的变化主要受国际政治、经济和金融的影响，尤其是美国 经济的影响。自从黄金市场化后，美国控制着全球的黄金定价权。美元升值，黄 金价格下跌；美元贬值，黄金价格上涨。 我国是一个黄金供给和消费大国，但是对国际黄金价格的影响却很小。我国 应该利用金融危机对美国经济和美元的沉重打击，积极争取黄金定价权。这对于 维护中国合理的经济利益以及在国际上的地位和影响力具有重要意义。目前，中 国取得黄金定价权已经具备了一定的条件。首先，中国国民经济持续增长，为我 国取得黄金定价权奠定物质基础；其次，中国黄金供给和需求量都相当大；最后， 中国开通黄金期货市场。然而，争取黄金定价权是一个长期的过程，需要对国内 黄金市场进行进一步的改革以及相关政策的配套。我国需要增加黄金储备作为保 障，还需要加强和国际间主要黄金市场之间的合作。加快人民币自由兑换，增加 黄金在国际间流动，从而实现其获得定价权。 关键词：商品属性 货币属性 金融属性 黄金定价权 5 ABSTRACT Gold is a special commodity with both monetary attribute and financial attribute. So it is complex to determine the price of gold. It is determined not only by one attribute, but also by the combined effect of a combination of all attributes. As a goods, the price of gold is determined by its supply and demand. As a money, its price is fixed by an average of production costs and profits, as well as the common purchasing power of the currency. As a financial resource, gold is valued by its performance in the comparison to other investment products. This paper analyzes the elements influencing the price of the gold from both theoretical and empirical aspects in the qualitative and quantitative research methods. It should consider the relationship between commodity supply and demand, as well as the relationship between investment supply and demand of the price of the gold. The price of gold is influenced by the international politics, economy and finance, especially the American economy. America sets the price of gold since the gold is priced in the market. When the US dollar is appreciated, the gold’s price declines, vice versa. China is a big power supp