{"id":965,"date":"2026-09-02T10:34:04","date_gmt":"2026-09-02T01:34:04","guid":{"rendered":"https:\/\/www.kobayashiyoko-com.jp\/column\/?p=965"},"modified":"2026-09-02T10:34:07","modified_gmt":"2026-09-02T01:34:07","slug":"gold-price-rise-reason","status":"publish","type":"post","link":"https:\/\/www.kobayashiyoko-com.jp\/column\/gold-price-rise-reason\/","title":{"rendered":"\u91d1\u4fa1\u683c\u306f\u306a\u305c\u4e0a\u304c\u308b\uff1f\u4fa1\u683c\u3092\u52d5\u304b\u30595\u3064\u306e\u8981\u56e0\u3068\u4eca\u5f8c\u306e\u898b\u901a\u3057\u3092\u89e3\u8aac"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u300c\u91d1\u4fa1\u683c\u304c\u3053\u3053\u307e\u3067\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u306b\u3001\u305d\u306e\u7406\u7531\u304c\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u300d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u300c\u5186\u5b89\u3068\u91d1\u5229\u3001\u3069\u3061\u3089\u304c\u91d1\u4fa1\u683c\u306b\u5f71\u97ff\u3059\u308b\u306e\u304b\u6574\u7406\u3067\u304d\u3066\u3044\u306a\u3044\u300d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u8a18\u306e\u3088\u3046\u306b\u3001\u4fa1\u683c\u4e0a\u6607\u306e\u80cc\u666f\u3092\u63b4\u307f\u304d\u308c\u305a\u306b\u3044\u308b\u65b9\u3082\u591a\u3044\u306e\u3067\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u3092\u52d5\u304b\u3059\u4e3b\u306a\u8981\u56e0\u306f\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7c73\u56fd\u91d1\u5229<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u70ba\u66ff<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5730\u653f\u5b66\u30ea\u30b9\u30af<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30a4\u30f3\u30d5\u30ec<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u52d5\u5411<\/span><\/b>\u306e5\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u3089\u304c\u5358\u72ec\u3067\u52d5\u304f\u3068\u304d\u3088\u308a\u3001<b><span class=\"swl-marker mark_yellow\">\u8907\u6570\u304c\u540c\u6642\u306b\u540c\u3058\u65b9\u5411\u3078\u52d5\u3044\u305f\u3068\u304d<\/span><\/b>\u306b\u4fa1\u683c\u4e0a\u6607\u306e\u5e45\u304c\u5927\u304d\u304f\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u5404\u8981\u56e0\u304c\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u3072\u3068\u3064\u305a\u3064\u89e3\u8aac\u3057\u305f\u3046\u3048\u3067\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306e\u5024\u52d5\u304d\u304c\u7570\u306a\u308b\u7406\u7531\u3001\u904e\u53bb\u306e\u6025\u9a30\u5c40\u9762\u3068\u306e\u5171\u901a\u30d1\u30bf\u30fc\u30f3\u3001\u4e0b\u843d\u306b\u8ee2\u3058\u308b\u6761\u4ef6\u307e\u3067\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3042\u308f\u305b\u3066\u3001\u91d1ETF\u30fb\u7d14\u91d1\u7a4d\u7acb\u30fb\u91d1\u5730\u91d1\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4\u3068\u4f7f\u3044\u5206\u3051\u306b\u3064\u3044\u3066\u3082\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u7406\u7531\u3092\u4f53\u7cfb\u7684\u306b\u628a\u63e1\u3059\u308b\u3053\u3068\u3067\u3001<b>\u4fdd\u6709\u30fb\u8cfc\u5165\u30fb\u58f2\u5374\u306e\u5224\u65ad<\/b>\u306b\u81ea\u5206\u306a\u308a\u306e\u8ef8\u3092\u6301\u3066\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u3053\u306e\u8a18\u4e8b\u3067\u308f\u304b\u308b\u3053\u3068<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#gold-price-factors\">\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b5\u3064\u306e\u8981\u56e0\uff08\u7c73\u56fd\u91d1\u5229\u30fb\u70ba\u66ff\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af\u30fb\u30a4\u30f3\u30d5\u30ec\u30fb\u4e2d\u592e\u9280\u884c\uff09\u3068\u305d\u306e\u30e1\u30ab\u30cb\u30ba\u30e0<\/a><\/li>\n\n\n\n<li><a href=\"#dollar-yen-gold-price-difference\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u5186\u5efa\u3066\u4fa1\u683c\u3067\u5024\u52d5\u304d\u304c\u7570\u306a\u308b\u7406\u7531\u3068\u3001\u5186\u5b89\u304c\u4e0e\u3048\u308b\u4e8c\u91cd\u52b9\u679c<\/a><\/li>\n\n\n\n<li><a href=\"#gold-price-surge-patterns\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u30fb\u30b3\u30ed\u30ca\u798d\u30fb\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u306e\u6025\u9a30\u5c40\u9762\u306b\u5171\u901a\u3059\u308b\u30d1\u30bf\u30fc\u30f3<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h2 id=\"gold-price-factors\" class=\"wp-block-heading\">\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b5\u3064\u306e\u8981\u56e0\u3068\u305d\u306e\u30e1\u30ab\u30cb\u30ba\u30e0<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306f\u5358\u4e00\u306e\u8981\u56e0\u3067\u52d5\u304f\u306e\u3067\u306f\u306a\u304f\u3001\u8907\u6570\u306e\u529b\u304c\u540c\u6642\u306b\u4f5c\u7528\u3059\u308b\u3053\u3068\u3067\u5927\u304d\u304f\u5909\u52d5\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e3b\u306a\u8981\u56e0\u306f<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7c73\u56fd\u91d1\u5229<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u70ba\u66ff<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5730\u653f\u5b66\u30ea\u30b9\u30af<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30a4\u30f3\u30d5\u30ec<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u52d5\u5411<\/span><\/b>\u306e5\u3064\u3067\u3001\u305d\u308c\u305e\u308c\u304c\u72ec\u7acb\u3057\u305f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u6301\u3064\u8981\u7d20\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u91d1\u4fa1\u683c\u3092\u52d5\u304b\u30595\u3064\u306e\u8981\u56e0\u3068\u5404\u30e1\u30ab\u30cb\u30ba\u30e0<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#us-interest-rate\">\u7c73\u56fd\u91d1\u5229\u306e\u4f4e\u4e0b\u304c\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u3092\u9ad8\u3081\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#yen-depreciation\">\u5186\u5b89\u304c\u9032\u3080\u3068\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u69cb\u9020\u306b\u306a\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#geopolitical-risk\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u9ad8\u307e\u308a\u304c\u5b89\u5168\u8cc7\u7523\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u3092\u4fc3\u3059<\/a><\/li>\n\n\n\n<li><a href=\"#inflation-demand\">\u30a4\u30f3\u30d5\u30ec\u5c40\u9762\u3067\u306f\u5b9f\u7269\u8cc7\u7523\u3068\u3057\u3066\u306e\u91d1\u306b\u9700\u8981\u304c\u96c6\u307e\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#central-bank-buying\">\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u5897\u52a0\u304c\u9700\u7d66\u3092\u5f15\u304d\u7de0\u3081\u308b<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u3089\u306e\u8981\u56e0\u3092\u500b\u5225\u306b\u7406\u89e3\u3057\u3066\u304a\u304f\u3068\u3001\u30cb\u30e5\u30fc\u30b9\u3067\u91d1\u4fa1\u683c\u306e\u5909\u52d5\u304c\u5831\u3058\u3089\u308c\u305f\u3068\u304d\u306b\u300c\u306a\u305c\u52d5\u3044\u305f\u306e\u304b\u300d\u3092\u81ea\u5206\u3067\u8aad\u307f\u89e3\u304f\u529b\u304c\u8eab\u306b\u3064\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3068\u3048\u3070\u7c73\u56fd\u3067\u5229\u4e0b\u3052\u304c\u767a\u8868\u3055\u308c\u305f\u7fcc\u65e5\u306b\u91d1\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u305f\u3068\u304d\u3001\u305d\u306e\u80cc\u666f\u306b\u3042\u308b\u8ad6\u7406\u3092\u8ffd\u3048\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068\u304c\u3001<b><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5224\u65ad\u306e\u7cbe\u5ea6\u3092\u9ad8\u3081\u308b\u7b2c\u4e00\u6b69<\/span><\/b>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ee5\u4e0b\u3067\u306f\u30015\u3064\u306e\u8981\u56e0\u305d\u308c\u305e\u308c\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u9806\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"us-interest-rate\" class=\"wp-block-heading\">\u7c73\u56fd\u91d1\u5229\u306e\u4f4e\u4e0b\u304c\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u3092\u9ad8\u3081\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u91d1\u5229\u304c\u4f4e\u4e0b\u3059\u308b\u3068\u3001\u91d1\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u306e<b>\u6a5f\u4f1a\u30b3\u30b9\u30c8<\/b>\u3001\u3064\u307e\u308a\u91d1\u3092\u6301\u3064\u4ee3\u308f\u308a\u306b\u5931\u3046\u5229\u606f\u53ce\u5165\u304c\u5c0f\u3055\u304f\u306a\u308b\u305f\u3081\u3001\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u682a\u5f0f\u3084\u50b5\u5238\u3068\u9055\u3044\u3001\u4fdd\u6709\u3057\u3066\u3044\u3066\u3082\u5229\u606f\u3084\u914d\u5f53\u3092\u751f\u307f\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u304c\u9ad8\u3044\u5c40\u9762\u3067\u306f\u3001\u56fd\u50b5\u306a\u3069\u306e\u5229\u4ed8\u304d\u8cc7\u7523\u306e\u65b9\u304c\u6709\u5229\u306a\u305f\u3081\u3001\u8cc7\u91d1\u306f\u91d1\u304b\u3089\u96e2\u308c\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u9006\u306b\u7c73\u56fd\u304c\u5229\u4e0b\u3052\u306b\u8ee2\u3058\u308b\u3068\u3001\u56fd\u50b5\u306e\u5229\u56de\u308a\u304c\u4e0b\u304c\u308a\u3001\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u91d1\u3068\u306e\u5dee\u304c\u7e2e\u307e\u308b\u305f\u3081\u3001\u91d1\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u304c\u8d77\u304d\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-inner\"><div class=\"cap_box_ttl\"><span>\u91d1\u5229\u3068\u91d1\u4fa1\u683c\u306e\u95a2\u4fc2\u307e\u3068\u3081<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><strong>\u91d1\u5229\u4e0a\u6607\u6642<\/strong>\uff1a\u56fd\u50b5\u306a\u3069\u5229\u4ed8\u304d\u8cc7\u7523\u304c\u6709\u5229\u306b\u306a\u308a\u3001\u91d1\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3057\u3084\u3059\u3044<\/li>\n\n\n\n<li><strong>\u91d1\u5229\u4f4e\u4e0b\u6642<\/strong>\uff1a\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u91d1\u306e\u76f8\u5bfe\u7684\u9b45\u529b\u304c\u9ad8\u307e\u308a\u3001\u8cc7\u91d1\u304c\u6d41\u5165\u3057\u3084\u3059\u3044<\/li>\n\n\n\n<li><strong>\u5b9f\u4f8b<\/strong>\uff1a2020\u5e74\u30bc\u30ed\u91d1\u5229\u2192\u91d1\u304c\u53f2\u4e0a\u6700\u9ad8\u5024\u30012022\u5e74\u6025\u901f\u5229\u4e0a\u3052\u2192\u91d1\u4fa1\u683c\u4f38\u3073\u60a9\u307f\u30012024\u5e74\u5229\u4e0b\u3052\u8ee2\u63db\u89b3\u6e2c\u2192\u518d\u4e0a\u6607<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b9f\u969b\u306b<b>2020\u5e74\u306e\u30b3\u30ed\u30ca\u798d<\/b>\u3067\u306f\u3001\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09\u304c\u30bc\u30ed\u91d1\u5229\u653f\u7b56\u3092\u63a1\u7528\u3057\u305f\u5c40\u9762\u3067\u91d1\u4fa1\u683c\u304c\u53f2\u4e0a\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u4ee5\u964d\u306eFRB\u306b\u3088\u308b\u6025\u901f\u306a\u5229\u4e0a\u3052\u5c40\u9762\u3067\u306f\u91d1\u4fa1\u683c\u304c\u4f38\u3073\u60a9\u3093\u3060\u4e00\u65b9\u30012024\u5e74\u306b<b><span class=\"swl-marker mark_yellow\">\u5229\u4e0b\u3052\u8ee2\u63db\u306e\u89b3\u6e2c\u304c\u5f37\u307e\u308b<\/span><\/b>\u3068\u518d\u3073\u4fa1\u683c\u304c\u4e0a\u6607\u306b\u8ee2\u3058\u305f\u7d4c\u7def\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">FRB\u306e\u91d1\u878d\u653f\u7b56\u306e\u65b9\u5411\u6027\u3092\u628a\u63e1\u3057\u3066\u304a\u304f\u3053\u3068\u3067\u3001\u91d1\u4fa1\u683c\u306e\u5927\u304d\u306a\u30c8\u30ec\u30f3\u30c9\u8ee2\u63db\u3092\u3042\u308b\u7a0b\u5ea6\u5148\u8aad\u307f\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u91d1\u5229\u306e\u52d5\u5411\u306f\u91d1\u4fa1\u683c\u306e\u65b9\u5411\u6027\u3092\u6c7a\u3081\u308b\u4e0a\u3067\u3001\u7279\u306b\u91cd\u8981\u306a\u6307\u6a19\u306e\u3072\u3068\u3064\u3068\u3057\u3066\u3001\u5b9a\u671f\u7684\u306b\u78ba\u8a8d\u3059\u308b\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"yen-depreciation\" class=\"wp-block-heading\">\u5186\u5b89\u304c\u9032\u3080\u3068\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u69cb\u9020\u306b\u306a\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u56fd\u969b\u5e02\u5834\u3067<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30c9\u30eb\u5efa\u3066<\/span><\/b>\u3067\u53d6\u5f15\u3055\u308c\u308b\u305f\u3081\u3001\u5186\u5b89\u304c\u9032\u3080\u3068\u5186\u5efa\u3066\u306e\u91d1\u4fa1\u683c\u306f\u70ba\u66ff\u5dee\u5206\u3060\u3051\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3068\u3048\u3070\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u5909\u308f\u3089\u306a\u304f\u3066\u3082\u30011\u30c9\u30eb130\u5186\u304b\u3089150\u5186\u306b\u5186\u5b89\u304c\u9032\u3081\u3070\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306f<b>\u7d0415%\u4e0a\u6607<\/b>\u3059\u308b\u8a08\u7b97\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2024\u5e74\u306b\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u56fd\u5185\u3067\u904e\u53bb\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3057\u305f\u80cc\u666f\u306b\u306f\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u52a0\u3048\u3066\u3001\u5927\u5e45\u306a\u5186\u5b89\u3068\u3044\u3046\u70ba\u66ff\u8981\u56e0\u304c\u91cd\u306a\u3063\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box\"><div class=\"cap_box_ttl\"><span>\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u8a08\u7b97\u69cb\u9020<\/span><\/div><div class=\"cap_box_content\">\n<p class=\"wp-block-paragraph\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c \uff1d <strong>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c \u00d7 \u30c9\u30eb\u5186\u30ec\u30fc\u30c8<\/strong><br>\u4f8b\uff09\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u304c\u5909\u308f\u3089\u306a\u304f\u3066\u3082\u30011\u30c9\u30eb130\u5186\u2192150\u5186\uff08\u7d0415%\u5186\u5b89\uff09\u306b\u306a\u308c\u3070\u3001\u5186\u5efa\u3066\u4fa1\u683c\u3082\u7d0415%\u4e0a\u6607\u3059\u308b\u3002<\/p>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u69cb\u9020\u306f\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u6a2a\u3070\u3044\u3084\u5c0f\u5e45\u306a\u4e0b\u843d\u5c40\u9762\u3067\u3082\u3001<b><span class=\"swl-marker mark_yellow\">\u5186\u5b89\u304c\u7d9a\u304f\u9650\u308a\u56fd\u5185\u306e\u91d1\u4fa1\u683c\u304c\u9ad8\u6b62\u307e\u308a<\/span><\/b>\u3059\u308b\u72b6\u6cc1\u3092\u751f\u307f\u51fa\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u3092\u305d\u306e\u307e\u307e\u300c\u91d1\u306e\u5b9f\u529b\u300d\u3068\u6349\u3048\u308b\u3068\u3001\u70ba\u66ff\u304c\u5186\u9ad8\u306b\u8ee2\u3058\u305f\u969b\u306b\u4fdd\u6709\u8cc7\u7523\u306e\u8a55\u4fa1\u984d\u304c\u5927\u304d\u304f\u76ee\u6e1b\u308a\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u3092\u898b\u308b\u3068\u304d\u306f\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u4e21\u65b9\u3092\u4e26\u3079\u3066\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"geopolitical-risk\" class=\"wp-block-heading\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u9ad8\u307e\u308a\u304c\u5b89\u5168\u8cc7\u7523\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u3092\u4fc3\u3059<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6226\u4e89\u30fb\u30c6\u30ed\u30fb\u56fd\u5bb6\u9593\u306e\u7d1b\u4e89\u306a\u3069<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5730\u653f\u5b66\u30ea\u30b9\u30af<\/span><\/b>\u304c\u9ad8\u307e\u308b\u3068\u3001\u682a\u5f0f\u306a\u3069\u306e\u30ea\u30b9\u30af\u8cc7\u7523\u304b\u3089\u8cc7\u91d1\u304c\u9003\u3052\u3001\u91d1\u306b\u4ee3\u8868\u3055\u308c\u308b\u5b89\u5168\u8cc7\u7523\u3078\u5411\u304b\u3046\u52d5\u304d\u304c\u8d77\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u7279\u5b9a\u306e\u56fd\u5bb6\u3084\u4f01\u696d\u306e\u4fe1\u7528\u306b\u4f9d\u5b58\u3057\u306a\u3044<b>\u5b9f\u7269\u8cc7\u7523<\/b>\u3067\u3042\u308b\u305f\u3081\u3001\u653f\u6cbb\u30fb\u7d4c\u6e08\u306e\u6df7\u4e71\u304c\u6df1\u523b\u306b\u306a\u308b\u307b\u3069\u76f8\u5bfe\u7684\u306a\u4fe1\u983c\u6027\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u306e\u30ed\u30b7\u30a2\u306b\u3088\u308b\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u76f4\u5f8c\u3001\u91d1\u4fa1\u683c\u306f\u77ed\u671f\u9593\u3067<b>1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b92,000\u30c9\u30eb<\/b>\u3092\u8d85\u3048\u308b\u6c34\u6e96\u307e\u3067\u6025\u9a30\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-shadow\"><div class=\"cap_box_ttl\"><span>\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u91d1\u4fa1\u683c\u4e0a\u6607\u306e\u7279\u5fb4<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u682a\u5f0f\u306a\u3069\u30ea\u30b9\u30af\u8cc7\u7523\u304b\u3089\u8cc7\u91d1\u304c\u9003\u907f\u3057\u3001\u91d1\u3078\u96c6\u4e2d\u3059\u308b<\/li>\n\n\n\n<li>\u91d1\u306f\u7279\u5b9a\u56fd\u30fb\u4f01\u696d\u306e\u4fe1\u7528\u306b\u4f9d\u5b58\u3057\u306a\u3044\u5b9f\u7269\u8cc7\u7523\u306e\u305f\u3081\u4fe1\u983c\u6027\u304c\u9ad8\u307e\u308b<\/li>\n\n\n\n<li>\u4e0a\u6607\u306f\u77ed\u671f\u7684\u306b\u306a\u308a\u3084\u3059\u304f\u3001\u60c5\u52e2\u304c\u843d\u3061\u7740\u304f\u3068\u53cd\u843d\u3059\u308b\u30d1\u30bf\u30fc\u30f3\u3082\u591a\u3044<\/li>\n\n\n\n<li>\u5b9f\u4f8b\uff1a2022\u5e74\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u76f4\u5f8c\u306b1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b92,000\u30c9\u30eb\u8d85\u3078\u6025\u9a30<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u4e0a\u6607\u306f<b><span class=\"swl-marker mark_yellow\">\u6301\u7d9a\u6027\u304c\u9650\u3089\u308c\u308b\u5834\u5408\u3082\u591a\u304f<\/span><\/b>\u3001\u60c5\u52e2\u304c\u843d\u3061\u7740\u304f\u306b\u3064\u308c\u3066\u4fa1\u683c\u304c\u53cd\u843d\u3059\u308b\u30d1\u30bf\u30fc\u30f3\u3082\u7e70\u308a\u8fd4\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3092\u7406\u7531\u306b\u91d1\u3092\u8cfc\u5165\u3059\u308b\u969b\u306f\u3001\u77ed\u671f\u7684\u306a\u4fa1\u683c\u5909\u52d5\u306b\u5de6\u53f3\u3055\u308c\u306a\u3044\u4fdd\u6709\u76ee\u7684\u3092\u660e\u78ba\u306b\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"inflation-demand\" class=\"wp-block-heading\">\u30a4\u30f3\u30d5\u30ec\u5c40\u9762\u3067\u306f\u5b9f\u7269\u8cc7\u7523\u3068\u3057\u3066\u306e\u91d1\u306b\u9700\u8981\u304c\u96c6\u307e\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec\u304c\u9032\u3080\u3068\u901a\u8ca8\u306e\u8cfc\u8cb7\u529b\u304c\u4f4e\u4e0b\u3059\u308b\u305f\u3081\u3001\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3057\u306b\u304f\u3044<b>\u5b9f\u7269\u8cc7\u7523<\/b>\u3068\u3057\u3066\u306e\u91d1\u306b\u8cc7\u91d1\u304c\u96c6\u307e\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u73fe\u91d1\u3084\u9810\u91d1\u306f\u7269\u4fa1\u4e0a\u6607\u304c\u7d9a\u304f\u307b\u3069\u5b9f\u8cea\u7684\u306a\u4fa1\u5024\u304c\u4e0b\u304c\u308a\u307e\u3059\u304c\u3001\u91d1\u306f\u63a1\u6398\u91cf\u306b\u7269\u7406\u7684\u306a\u4e0a\u9650\u304c\u3042\u308b\u305f\u3081\u3001\u4f9b\u7d66\u91cf\u3092\u7121\u5236\u9650\u306b\u5897\u3084\u305b\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u5e0c\u5c11\u6027\u304c\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8<\/span><\/b>\u3001\u3064\u307e\u308a\u7269\u4fa1\u4e0a\u6607\u304b\u3089\u8cc7\u7523\u3092\u5b88\u308b\u624b\u6bb5\u3068\u3057\u3066\u91d1\u304c\u9577\u5e74\u6a5f\u80fd\u3057\u3066\u304d\u305f\u7406\u7531\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u3068\u3057\u3066\u306e\u91d1\u304c\u6a5f\u80fd\u3059\u308b\u7406\u7531<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u73fe\u91d1\u30fb\u9810\u91d1\u306f\u30a4\u30f3\u30d5\u30ec\u3067\u5b9f\u8cea\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3059\u308b\u304c\u3001\u91d1\u306f\u63a1\u6398\u91cf\u306b\u7269\u7406\u7684\u4e0a\u9650\u304c\u3042\u308b<\/li>\n\n\n\n<li>\u4f9b\u7d66\u91cf\u3092\u7121\u5236\u9650\u306b\u5897\u3084\u305b\u306a\u3044\u5e0c\u5c11\u6027\u304c\u3001\u8cfc\u8cb7\u529b\u7dad\u6301\u306e\u624b\u6bb5\u3068\u3057\u3066\u6a5f\u80fd\u3059\u308b<\/li>\n\n\n\n<li>\u305f\u3060\u3057\u91d1\u5229\u4e0a\u6607\u304c\u540c\u6642\u9032\u884c\u3059\u308b\u3068\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u52b9\u679c\u304c\u76f8\u6bba\u3055\u308c\u308b\u30b1\u30fc\u30b9\u3082\u3042\u308b<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">2021\u5e74\u304b\u30892022\u5e74\u306b\u304b\u3051\u3066\u7c73\u56fd\u3067\u30a4\u30f3\u30d5\u30ec\u7387\u304c<b>40\u5e74\u3076\u308a\u306e\u9ad8\u6c34\u6e96<\/b>\u306b\u9054\u3057\u305f\u5c40\u9762\u3067\u306f\u3001\u91d1\u4fa1\u683c\u3078\u306e\u6ce8\u76ee\u304c\u4e16\u754c\u7684\u306b\u9ad8\u307e\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u540c\u6642\u671f\u306eFRB\u306b\u3088\u308b\u6025\u901f\u306a\u5229\u4e0a\u3052\u304c\u91d1\u5229\u4e0a\u6607\u306e\u5727\u529b\u3068\u306a\u308a\u3001<b><span class=\"swl-marker mark_yellow\">\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u306e\u52b9\u679c\u304c\u91d1\u5229\u30c7\u30e1\u30ea\u30c3\u30c8\u306b\u76f8\u6bba<\/span><\/b>\u3055\u308c\u308b\u5f62\u3067\u4fa1\u683c\u306f\u4f38\u3073\u60a9\u3093\u3060\u7d4c\u7def\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec=\u91d1\u4fa1\u683c\u4e0a\u6607\u3068\u3044\u3046\u5358\u7d14\u306a\u56f3\u5f0f\u306f\u6210\u7acb\u3057\u306a\u3044\u30b1\u30fc\u30b9\u3082\u3042\u308a\u3001\u91d1\u5229\u3068\u306e\u517c\u306d\u5408\u3044\u3092\u540c\u6642\u306b\u898b\u308b\u3053\u3068\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u91d1\u5229\u306e\u4e21\u65b9\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u5224\u65ad\u3059\u308b\u3088\u3046\u306b\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"central-bank-buying\" class=\"wp-block-heading\">\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u5897\u52a0\u304c\u9700\u7d66\u3092\u5f15\u304d\u7de0\u3081\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e16\u754c\u5404\u56fd\u306e\u4e2d\u592e\u9280\u884c\u304c\u5916\u8ca8\u6e96\u5099\u3068\u3057\u3066\u91d1\u306e\u8cfc\u5165\u91cf\u3092\u5897\u3084\u3059\u3068\u3001\u5e02\u5834\u306b\u51fa\u56de\u308b\u91d1\u306e\u4f9b\u7d66\u304c\u76f8\u5bfe\u7684\u306b\u6e1b\u308a\u3001\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u9700\u7d66\u306e\u5909\u5316\u304c\u751f\u3058\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b><span class=\"swl-inline-color has-swl-deep-01-color\">\u4e16\u754c\u91d1\u5354\u4f1a\uff08WGC\uff09<\/span><\/b>\u306e\u5831\u544a\u306b\u3088\u308b\u3068\u30012022\u5e74\u30fb2023\u5e74\u3068\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u91cf\u306f\u904e\u53bb\u6700\u9ad8\u6c34\u6e96\u3092\u9023\u7d9a\u3067\u66f4\u65b0\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8cfc\u5165\u3092\u4e3b\u5c0e\u3057\u3066\u3044\u308b\u306e\u306f\u4e2d\u56fd\u30fb\u30a4\u30f3\u30c9\u30fb\u30c8\u30eb\u30b3\u30fb\u30dd\u30fc\u30e9\u30f3\u30c9\u306a\u3069\u65b0\u8208\u56fd\u306e\u4e2d\u592e\u9280\u884c\u3067\u3001<b><span class=\"swl-marker mark_yellow\">\u30c9\u30eb\u4f9d\u5b58\u3092\u6e1b\u3089\u3059\u5916\u8ca8\u6e96\u5099\u306e\u591a\u69d8\u5316<\/span><\/b>\u304c\u4e3b\u306a\u76ee\u7684\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-inner\"><div class=\"cap_box_ttl\"><span>\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u304c\u4fa1\u683c\u3092\u652f\u3048\u308b\u7406\u7531<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>2022\u5e74\u30fb2023\u5e74\u3068\u8cfc\u5165\u91cf\u304c\u904e\u53bb\u6700\u9ad8\u6c34\u6e96\u3092\u9023\u7d9a\u66f4\u65b0\uff08WGC\u8abf\u3079\uff09<\/li>\n\n\n\n<li>\u4e3b\u306a\u8cfc\u5165\u56fd\uff1a\u4e2d\u56fd\u30fb\u30a4\u30f3\u30c9\u30fb\u30c8\u30eb\u30b3\u30fb\u30dd\u30fc\u30e9\u30f3\u30c9\u306a\u3069\u65b0\u8208\u56fd\u4e2d\u592e\u9280\u884c<\/li>\n\n\n\n<li>\u76ee\u7684\uff1a\u30c9\u30eb\u4f9d\u5b58\u3092\u6e1b\u3089\u3059\u5916\u8ca8\u6e96\u5099\u306e\u591a\u69d8\u5316<\/li>\n\n\n\n<li>\u77ed\u671f\u7684\u306a\u5229\u76ca\u78ba\u5b9a\u58f2\u308a\u304c\u8d77\u304d\u306b\u304f\u304f\u3001\u9700\u7d66\u5f15\u304d\u7de0\u3081\u52b9\u679c\u304c\u9577\u671f\u6301\u7d9a\u3057\u3084\u3059\u3044<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u8cfc\u5165\u306f\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u58f2\u8cb7\u3068\u7570\u306a\u308a\u3001\u77ed\u671f\u7684\u306a\u5229\u76ca\u78ba\u5b9a\u58f2\u308a\u304c\u8d77\u304d\u306b\u304f\u3044\u305f\u3081\u3001\u9700\u7d66\u306e\u5f15\u304d\u7de0\u3081\u52b9\u679c\u304c\u9577\u671f\u306b\u308f\u305f\u3063\u3066\u6301\u7d9a\u3057\u3084\u3059\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c11\u9593\u6295\u8cc7\u5bb6\u306e\u52d5\u5411\u3060\u3051\u3092\u8ffd\u3063\u3066\u3044\u308b\u3068\u898b\u843d\u3068\u3057\u304c\u3061\u306a\u8981\u56e0\u3067\u3059\u304c\u3001\u91d1\u4fa1\u683c\u306e\u4e2d\u9577\u671f\u7684\u306a\u4e0b\u652f\u3048\u3068\u3057\u3066\u6a5f\u80fd\u3057\u3066\u3044\u308b\u70b9\u306f\u62bc\u3055\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u52d5\u5411\u306fWGC\u304c\u5b9a\u671f\u7684\u306b\u516c\u8868\u3057\u3066\u304a\u308a\u3001\u7121\u6599\u3067\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002\u91d1\u4fa1\u683c\u306e\u4e2d\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u3092\u8aad\u3080\u969b\u306e\u53c2\u8003\u6307\u6a19\u3068\u3057\u3066\u6d3b\u7528\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 id=\"dollar-yen-gold-price-difference\" class=\"wp-block-heading\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u5186\u5efa\u3066\u4fa1\u683c\u3067\u91d1\u306e\u5024\u52d5\u304d\u304c\u7570\u306a\u308b\u7406\u7531<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u3092\u8abf\u3079\u308b\u3068\u300c<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30c9\u30eb\u5efa\u3066<\/span><\/b>\u300d\u3068\u300c<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5186\u5efa\u3066<\/span><\/b>\u300d\u306e2\u7a2e\u985e\u306e\u4fa1\u683c\u304c\u8868\u793a\u3055\u308c\u307e\u3059\u304c\u3001\u3053\u306e2\u3064\u306f\u5225\u3005\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u3067\u52d5\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306f\u56fd\u969b\u5e02\u5834\u3067\u6c7a\u307e\u308b\u91d1\u305d\u306e\u3082\u306e\u306e\u4fa1\u5024\u3092\u793a\u3057\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306f\u305d\u3053\u306b\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u639b\u3051\u5408\u308f\u3055\u308c\u305f\u65e5\u672c\u5186\u3067\u306e\u5b9f\u52e2\u4fa1\u683c\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u30c9\u30eb\u5efa\u3066\u30fb\u5186\u5efa\u3066\u4fa1\u683c\u306e\u9055\u3044\u3092\u8aad\u307f\u89e3\u304f3\u3064\u306e\u8996\u70b9<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#dollar-price-factors\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u4e3b\u306b\u91d1\u5229\u30fb\u5730\u653f\u5b66\u30fb\u9700\u7d66\u3067\u6c7a\u307e\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#yen-price-exchange-rate\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306b\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u4e0a\u4e57\u305b\u3055\u308c\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#double-rise-yen-dollar\">\u5186\u5b89\u3068\u30c9\u30eb\u5efa\u3066\u4e0a\u6607\u304c\u91cd\u306a\u308b\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306f\u4e8c\u91cd\u306b\u4e0a\u304c\u308b<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u65e5\u672c\u5728\u4f4f\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u5b9f\u969b\u306e\u640d\u76ca\u306b\u76f4\u7d50\u3059\u308b\u306e\u306f\u5186\u5efa\u3066\u4fa1\u683c\u3067\u3059\u304c\u3001\u5186\u5efa\u3066\u4fa1\u683c\u304c\u306a\u305c\u52d5\u3044\u305f\u306e\u304b\u3092\u6b63\u78ba\u306b\u8aad\u3080\u306b\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u4e21\u65b9<\/span><\/b>\u3092\u628a\u63e1\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u4ee5\u964d\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u3068\u5186\u5b89\u304c\u540c\u6642\u9032\u884c\u3057\u305f\u3053\u3068\u3067\u3001\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u7279\u306b\u5927\u304d\u306a\u4e0a\u6607\u5e45\u3092\u8a18\u9332\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u69cb\u9020\u3092\u7406\u89e3\u3057\u3066\u304a\u304f\u3068\u3001\u300c\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u305f\u306e\u306f\u91d1\u81ea\u4f53\u306e\u9700\u8981\u304c\u5897\u3057\u305f\u304b\u3089\u306a\u306e\u304b\u3001\u305d\u308c\u3068\u3082\u5186\u5b89\u304c\u4e3b\u56e0\u306a\u306e\u304b\u300d\u3092\u533a\u5225\u3057\u3066\u5224\u65ad\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"dollar-price-factors\" class=\"wp-block-heading\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u4e3b\u306b\u91d1\u5229\u30fb\u5730\u653f\u5b66\u30fb\u9700\u7d66\u3067\u6c7a\u307e\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u3001\u56fd\u969b\u5546\u54c1\u5e02\u5834\u3067\u7c73\u30c9\u30eb\u5efa\u3066\u306b\u3088\u308a\u53d6\u5f15\u3055\u308c\u308b\u91d1\u306e\u4fa1\u683c\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4fa1\u683c\u3092\u52d5\u304b\u3059\u4e3b\u306a\u8981\u56e0\u306f\u3001<b>\u7c73\u56fd\u306e\u5b9f\u8cea\u91d1\u5229\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af\u30fb\u4e2d\u592e\u9280\u884c\u3084\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u9700\u7d66\u30d0\u30e9\u30f3\u30b9<\/b>\u306e3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u306e<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b9f\u8cea\u91d1\u5229<\/span><\/b>\u304c\u4e0b\u304c\u308b\u3068\u3001\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u304c\u9ad8\u307e\u308a\u3001\u8cb7\u3044\u9700\u8981\u304c\u5897\u3057\u3066\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table min_width20_ is-all-centered\"><table style=\"--swl-cell1-width:;font-size:13px;\"><thead><tr><th>\u8981\u56e0<\/th><th>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u3078\u306e\u5f71\u97ff<\/th><\/tr><\/thead><tbody><tr><th>\u7c73\u56fd\u5b9f\u8cea\u91d1\u5229\u306e\u4f4e\u4e0b<\/th><td>\u91d1\u306e\u76f8\u5bfe\u7684\u9b45\u529b\u304c\u9ad8\u307e\u308a\u3001\u8cb7\u3044\u9700\u8981\u304c\u5897\u52a0\u2192\u4fa1\u683c\u4e0a\u6607<\/td><\/tr><tr><th>\u7c73\u56fd\u5b9f\u8cea\u91d1\u5229\u306e\u4e0a\u6607<\/th><td>\u5229\u56de\u308a\u8cc7\u7523\u306b\u8cc7\u91d1\u304c\u79fb\u52d5\u2192\u4fa1\u683c\u4e0b\u843d\u5727\u529b<\/td><\/tr><tr><th>\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u9ad8\u307e\u308a<\/th><td>\u5b89\u5168\u8cc7\u7523\u9700\u8981\u304c\u6025\u5897\u2192\u4fa1\u683c\u6025\u9a30<\/td><\/tr><tr><th>\u4e2d\u592e\u9280\u884c\u306e\u5927\u898f\u6a21\u8cfc\u5165<\/th><td>\u9700\u7d66\u3092\u76f4\u63a5\u5f15\u304d\u7de0\u3081\u2192\u4fa1\u683c\u62bc\u3057\u4e0a\u3052<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u9006\u306b\u5b9f\u8cea\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u5c40\u9762\u3067\u306f\u3001\u56fd\u50b5\u306a\u3069\u5229\u56de\u308a\u306e\u3042\u308b\u8cc7\u7523\u306b\u8cc7\u91d1\u304c\u79fb\u308a\u3084\u3059\u304f\u3001\u91d1\u4fa1\u683c\u306b\u306f\u4e0b\u843d\u5727\u529b\u304c\u304b\u304b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308b\u5c40\u9762\u3067\u306f\u3001\u682a\u5f0f\u3084\u901a\u8ca8\u3068\u3044\u3063\u305f\u30ea\u30b9\u30af\u8cc7\u7523\u304b\u3089\u8cc7\u91d1\u304c\u9003\u907f\u3059\u308b\u5148\u3068\u3057\u3066\u91d1\u304c\u9078\u3070\u308c\u308b\u305f\u3081\u3001\u9700\u8981\u304c\u6025\u5897\u3057\u3066\u4fa1\u683c\u304c\u8df3\u306d\u4e0a\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u5927\u898f\u6a21\u306a\u91d1\u8cfc\u5165\u3082\u3001\u9700\u7d66\u3092\u76f4\u63a5\u5f15\u304d\u7de0\u3081\u308b\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u4ee5\u964d\u3001\u5404\u56fd\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u91cf\u304c<b><span class=\"swl-marker mark_yellow\">\u904e\u53bb\u6700\u9ad8\u6c34\u6e96<\/span><\/b>\u306b\u9054\u3057\u305f\u3053\u3068\u304c\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u62bc\u3057\u4e0a\u3052\u8981\u56e0\u306e\u4e00\u3064\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u306e\u3067\u3001\u3053\u306e\u52d5\u5411\u3082\u5b9a\u671f\u7684\u306b\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u5909\u52d5\u8981\u56e0\u3092\u628a\u63e1\u3057\u3066\u304a\u304f\u3068\u3001\u5186\u5efa\u3066\u4fa1\u683c\u304c\u52d5\u3044\u305f\u969b\u306b\u300c\u70ba\u66ff\u306e\u305b\u3044\u306a\u306e\u304b\u3001\u91d1\u305d\u306e\u3082\u306e\u306e\u9700\u8981\u304c\u5909\u5316\u3057\u305f\u306e\u304b\u300d\u3092\u5207\u308a\u5206\u3051\u3066\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"yen-price-exchange-rate\" class=\"wp-block-heading\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306b\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u4e0a\u4e57\u305b\u3055\u308c\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306b\u7c73\u30c9\u30eb\u5186\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u3092\u639b\u3051\u5408\u308f\u305b\u3066\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a08\u7b97\u5f0f\u3092\u7c21\u5358\u306b\u793a\u3059\u3068\u3001\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f<b>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u00d7\u30c9\u30eb\u5186\u30ec\u30fc\u30c8<\/b>\u3068\u3044\u3046\u5f62\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u69cb\u9020\u4e0a\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u5909\u308f\u3089\u306a\u304f\u3066\u3082\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5186\u5b89<\/span><\/b>\u304c\u9032\u3081\u3070\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u304b\u30892024\u5e74\u306b\u304b\u3051\u3066\u3001<b>1\u30c9\u30eb115\u5186\u53f0\u304b\u3089150\u5186\u53f0<\/b>\u3078\u3068\u6025\u901f\u306b\u5186\u5b89\u304c\u9032\u3093\u3060\u5c40\u9762\u3067\u306f\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u4ee5\u4e0a\u306b\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u305f\u306e\u306f\u3053\u306e\u4ed5\u7d44\u307f\u306b\u3088\u308b\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u53cd\u5bfe\u306b\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u4e0a\u6607\u3057\u3066\u3044\u3066\u3082\u3001\u5186\u9ad8\u304c\u540c\u6642\u306b\u9032\u884c\u3059\u308b\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u306f\u6291\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u3060\u3051\u3092\u898b\u3066\u300c\u91d1\u304c\u5927\u304d\u304f\u4e0a\u304c\u3063\u305f\u300d\u3068\u5224\u65ad\u3059\u308b\u3068\u3001\u5b9f\u969b\u306b\u306f\u70ba\u66ff\u5909\u52d5\u304c\u4e3b\u56e0\u3067\u3042\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002\u58f2\u8cb7\u5224\u65ad\u306e\u969b\u306f\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u3092\u5408\u308f\u305b\u3066\u78ba\u8a8d\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u65e5\u672c\u5728\u4f4f\u306e\u6295\u8cc7\u5bb6\u306f\u5186\u5efa\u3066\u4fa1\u683c\u3067\u5b9f\u969b\u306e\u8cc7\u7523\u4fa1\u5024\u3092\u7ba1\u7406\u3057\u3064\u3064\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u52d5\u5411\u3082\u4e26\u884c\u3057\u3066\u8ffd\u3046\u7fd2\u6163\u3092\u3064\u3051\u308b\u3053\u3068\u304c\u5224\u65ad\u7cbe\u5ea6\u3092\u9ad8\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"double-rise-yen-dollar\" class=\"wp-block-heading\">\u5186\u5b89\u3068\u30c9\u30eb\u5efa\u3066\u4e0a\u6607\u304c\u91cd\u306a\u308b\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306f\u4e8c\u91cd\u306b\u4e0a\u304c\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u3068\u5186\u5b89\u304c\u540c\u6642\u306b\u8d77\u304d\u308b\u3068\u3001\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306b\u306f<b><span class=\"swl-marker mark_yellow\">\u4e21\u65b9\u306e\u52b9\u679c\u304c\u91cd\u306a\u3063\u3066\u53cd\u6620<\/span><\/b>\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2023\u5e74\u304b\u30892024\u5e74\u306b\u304b\u3051\u3066\u306e\u5c40\u9762\u304c\u3053\u306e\u5178\u578b\u3067\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9\u3042\u305f\u308a\u7d04<b>1,800\u30c9\u30eb\u304b\u30892,400\u30c9\u30eb\u8d85<\/b>\u3078\u4e0a\u6607\u3059\u308b\u4e00\u65b9\u3001\u30c9\u30eb\u5186\u30ec\u30fc\u30c8\u3082130\u5186\u53f0\u304b\u3089155\u5186\u524d\u5f8c\u307e\u3067\u5186\u5b89\u304c\u9032\u307f\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-shadow\"><div class=\"cap_box_ttl\"><span>2023\u301c2024\u5e74\u306e\u4e8c\u91cd\u4e0a\u6607\u306e\u5b9f\u4f8b<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\uff1a\u7d041,800\u30c9\u30eb\u21922,400\u30c9\u30eb\u8d85\uff08\u7d0433%\u4e0a\u6607\uff09<\/li>\n\n\n\n<li>\u30c9\u30eb\u5186\u30ec\u30fc\u30c8\uff1a130\u5186\u53f0\u2192155\u5186\u524d\u5f8c\uff08\u7d0419%\u5186\u5b89\uff09<\/li>\n\n\n\n<li>\u5186\u5efa\u3066\u91d1\u4fa1\u683c\uff1a\u7d048,000\u5186\u53f0\/g\u21921\u4e075,000\u5186\u524d\u5f8c\uff08\u307b\u307c\u500d\u8fd1\u3044\u6c34\u6e96\uff09<\/li>\n\n\n\n<li>2\u3064\u306e\u4e0a\u6607\u304c\u91cd\u306a\u308a\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u304c\u30c9\u30eb\u5efa\u3066\u3092\u5927\u304d\u304f\u4e0a\u56de\u3063\u305f<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e2\u3064\u306e\u52d5\u304d\u304c\u91cd\u306a\u3063\u305f\u7d50\u679c\u3001\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u540c\u671f\u9593\u306b\u7d04<b>1\u30b0\u30e9\u30e08,000\u5186\u53f0\u304b\u30891\u4e075,000\u5186\u524d\u5f8c<\/b>\u307e\u3067\u3001\u307b\u307c\u500d\u8fd1\u3044\u6c34\u6e96\u306b\u9054\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u72b6\u6cc1\u306f\u5186\u5efa\u3066\u91d1\u4fdd\u6709\u8005\u306b\u3068\u3063\u3066\u306f\u8cc7\u7523\u4fa1\u5024\u306e\u5927\u5e45\u306a\u5897\u52a0\u3092\u610f\u5473\u3057\u307e\u3059\u304c\u3001\u65b0\u898f\u306b\u8cfc\u5165\u3092\u691c\u8a0e\u3059\u308b\u5834\u5408\u306f\u300c\u30c9\u30eb\u5efa\u3066\u3067\u3082\u5272\u9ad8\u306a\u306e\u304b\u3001\u305d\u308c\u3068\u3082\u5186\u5b89\u306b\u3088\u308b\u5272\u9ad8\u306a\u306e\u304b\u300d\u3092\u533a\u5225\u3057\u3066\u5224\u65ad\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5b89\u304c\u4e3b\u56e0\u3067\u3042\u308c\u3070\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5186\u9ad8\u8ee2\u63db<\/span><\/b>\u6642\u306b\u5186\u5efa\u3066\u4fa1\u683c\u304c\u4e0b\u843d\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308b\u70b9\u3082\u628a\u63e1\u3057\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u6c34\u6e96\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u6c34\u6e96\u3092\u5206\u3051\u3066\u8a55\u4fa1\u3059\u308b\u8996\u70b9\u3092\u6301\u3064\u3053\u3068\u3067\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306e\u5909\u52d5\u306b\u5bfe\u3057\u3066\u3088\u308a\u51b7\u9759\u306b\u5411\u304d\u5408\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u5186\u5b89\u5c40\u9762\u3067\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u5927\u304d\u304f\u4e0a\u6607\u3057\u3066\u3044\u308b\u3068\u304d\u307b\u3069\u3001\u70ba\u66ff\u30ea\u30b9\u30af\u306e\u5f71\u97ff\u304c\u4fa1\u683c\u306b\u5927\u304d\u304f\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u3002\u5186\u9ad8\u8ee2\u63db\u6642\u306e\u4fa1\u683c\u4e0b\u843d\u5e45\u3092\u4e8b\u524d\u306b\u8a66\u7b97\u3057\u305f\u3046\u3048\u3067\u8cfc\u5165\u3092\u5224\u65ad\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 id=\"gold-price-surge-patterns\" class=\"wp-block-heading\">\u904e\u53bb\u306e\u91d1\u4fa1\u683c\u6025\u9a30\u5c40\u9762\u304b\u3089\u8aad\u307f\u53d6\u308c\u308b\u5171\u901a\u30d1\u30bf\u30fc\u30f3<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u904e\u53bb\u306e\u6025\u9a30\u5c40\u9762\u3092\u632f\u308a\u8fd4\u308b\u3068\u3001\u91d1\u4fa1\u683c\u304c\u5927\u304d\u304f\u4e0a\u6607\u3059\u308b\u3068\u304d\u306b\u306f<b>\u8907\u6570\u306e\u8981\u56e0\u304c\u540c\u6642\u306b\u91cd\u306a\u308b<\/b>\u3068\u3044\u3046\u5171\u901a\u3057\u305f\u69cb\u9020\u304c\u898b\u3048\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>3\u5927\u6025\u9a30\u5c40\u9762\u306e\u5171\u901a\u30d1\u30bf\u30fc\u30f3\u3068\u8981\u56e0\u306e\u7d44\u307f\u5408\u308f\u305b<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#lehman-qe-gold-surge\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\uff1a\u5b89\u5168\u8cc7\u7523\u9700\u8981\uff0b\u91cf\u7684\u7de9\u548c\u306b\u3088\u308b\u901a\u8ca8\u5e0c\u8584\u5316\u3067\u7d042.5\u500d\u306b\u4e0a\u6607<\/a><\/li>\n\n\n\n<li><a href=\"#covid-gold-record-high\">\u30b3\u30ed\u30ca\u798d\uff1a\u7a7a\u524d\u306e\u8ca1\u653f\u51fa\u52d5\uff0b\u5b9f\u8cea\u91d1\u5229\u30de\u30a4\u30ca\u30b9\u3067\u53f2\u4e0a\u6700\u9ad8\u5024\u3092\u66f4\u65b0<\/a><\/li>\n\n\n\n<li><a href=\"#ukraine-geopolitical-inflation\">\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u5f8c\uff1a\u5730\u653f\u5b66\u30ea\u30b9\u30af\uff0b\u8cc7\u6e90\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u767a\u751f\u30572,000\u30c9\u30eb\u8d85\u3078\u6025\u4f38<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u30fb\u30b3\u30ed\u30ca\u798d\u30fb\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u3068\u3044\u30463\u3064\u306e\u5c40\u9762\u306f\u305d\u308c\u305e\u308c\u539f\u56e0\u304c\u7570\u306a\u308a\u307e\u3059\u304c\u3001\u300c<b><span class=\"swl-marker mark_yellow\">\u5b89\u5168\u8cc7\u7523\u3078\u306e\u9003\u907f\u300d\u300c\u901a\u8ca8\u4fa1\u5024\u306e\u5e0c\u8584\u5316\u300d\u300c\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u300d<\/span><\/b>\u306e\u3044\u305a\u308c\u304b\u304c\u7d44\u307f\u5408\u308f\u3055\u3063\u3066\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b\u70b9\u3067\u5171\u901a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u904e\u53bb\u306e\u30d1\u30bf\u30fc\u30f3\u3092\u77e5\u308b\u3053\u3068\u306f\u3001\u73fe\u5728\u306e\u4fa1\u683c\u6c34\u6e96\u304c\u3069\u306e\u3088\u3046\u306a\u529b\u5b66\u306e\u4e0a\u306b\u6210\u308a\u7acb\u3063\u3066\u3044\u308b\u304b\u3092\u5224\u65ad\u3059\u308b\u6750\u6599\u3068\u306a\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u904e\u53bb\u306e\u6025\u9a30\u304c\u305d\u306e\u307e\u307e\u5c06\u6765\u306e\u5024\u52d5\u304d\u3092\u4fdd\u8a3c\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001\u5c40\u9762\u3054\u3068\u306b\u8981\u56e0\u306e\u7d44\u307f\u5408\u308f\u305b\u3084\u5f37\u5ea6\u304c\u7570\u306a\u308b\u70b9\u306f\u62bc\u3055\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"lehman-qe-gold-surge\" class=\"wp-block-heading\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306f\u5b89\u5168\u8cc7\u7523\u9700\u8981\u3068\u91cf\u7684\u7de9\u548c\u304c\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u305f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306e\u91d1\u4fa1\u683c\u306f\u3001<b>2008\u5e74\u304b\u30892011\u5e74<\/b>\u306b\u304b\u3051\u3066\u304a\u3088\u305d3\u5e74\u9593\u3067\u7d04<b><span class=\"swl-inline-color has-swl-deep-01-color\">2.5\u500d<\/span><\/b>\u306b\u4e0a\u6607\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u6025\u9a30\u3092\u652f\u3048\u305f\u4e3b\u306a\u529b\u306f2\u3064\u3067\u3001\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u4e0d\u5b89\u306b\u3088\u308b<b>\u5b89\u5168\u8cc7\u7523\u9700\u8981<\/b>\u3068\u3001\u5404\u56fd\u4e2d\u592e\u9280\u884c\u304c\u5b9f\u65bd\u3057\u305f<b>\u91cf\u7684\u7de9\u548c<\/b>\u306b\u3088\u308b\u901a\u8ca8\u4f9b\u7d66\u91cf\u306e\u81a8\u5f35\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91cf\u7684\u7de9\u548c\u3068\u306f\u3001\u4e2d\u592e\u9280\u884c\u304c\u5e02\u5834\u306b\u5927\u91cf\u306e\u8cc7\u91d1\u3092\u4f9b\u7d66\u3059\u308b\u3053\u3068\u3067\u666f\u6c17\u3092\u4e0b\u652f\u3048\u3059\u308b\u653f\u7b56\u3067\u3001\u3053\u308c\u306b\u3088\u308a\u901a\u8ca8\u306e\u5e0c\u8584\u5316\u304c\u9032\u307f\u3001\u5b9f\u7269\u8cc7\u7523\u3067\u3042\u308b\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u4fa1\u5024\u304c\u9ad8\u307e\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box\"><div class=\"cap_box_ttl\"><span>\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306e\u6025\u9a30\u3092\u652f\u3048\u305f2\u3064\u306e\u529b<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><strong>\u5b89\u5168\u8cc7\u7523\u9700\u8981<\/strong>\uff1a\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u4e0d\u5b89\u3067\u682a\u30fb\u50b5\u5238\u304b\u3089\u8cc7\u91d1\u304c\u9003\u907f<\/li>\n\n\n\n<li><strong>\u91cf\u7684\u7de9\u548c\u306b\u3088\u308b\u901a\u8ca8\u5e0c\u8584\u5316<\/strong>\uff1aFRB\u304c3\u5ea6\u306b\u308f\u305f\u308aQE\u3092\u5b9f\u65bd\u3001\u4f9b\u7d66\u30c9\u30eb\u306f\u6570\u5146\u30c9\u30eb\u898f\u6a21\u306b<\/li>\n\n\n\n<li><strong>\u7d50\u679c<\/strong>\uff1a2008\u301c2011\u5e74\u306e\u7d043\u5e74\u9593\u3067\u91d1\u4fa1\u683c\u304c\u7d042.5\u500d\u306b\u4e0a\u6607<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u306e<b><span class=\"swl-inline-color has-swl-deep-01-color\">FRB<\/span><\/b>\u306f2008\u5e74\u672b\u304b\u30893\u5ea6\u306b\u308f\u305f\u3063\u3066\u91cf\u7684\u7de9\u548c\u3092\u5b9f\u65bd\u3057\u3001\u5e02\u5834\u306b\u4f9b\u7d66\u3055\u308c\u305f\u30c9\u30eb\u306e\u7dcf\u91cf\u306f\u6570\u5146\u30c9\u30eb\u898f\u6a21\u306b\u9054\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u91d1\u878d\u30b7\u30b9\u30c6\u30e0\u3078\u306e\u4fe1\u983c\u304c\u63fa\u3089\u3050\u5c40\u9762\u3067\u306f\u3001\u682a\u5f0f\u3084\u50b5\u5238\u3092\u58f2\u5374\u3057\u3066\u91d1\u3078\u8cc7\u91d1\u3092\u79fb\u3059\u52d5\u304d\u304c\u4e16\u754c\u898f\u6a21\u3067\u8d77\u304d\u3001\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u69cb\u9020\u304c\u751f\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u5c40\u9762\u3067\u6ce8\u76ee\u3059\u3079\u304d\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u5b89\u5168\u8cc7\u7523\u9700\u8981\u3068\u901a\u8ca8\u5e0c\u8584\u5316\u3068\u3044\u30462\u3064\u306e\u8981\u56e0\u304c\u540c\u6642\u306b\u50cd\u3044\u305f<\/span><\/b>\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u65b9\u306e\u529b\u3060\u3051\u3067\u306f2.5\u500d\u3068\u3044\u3046\u4e0a\u6607\u5e45\u306f\u5b9f\u73fe\u3057\u306b\u304f\u304f\u3001\u8907\u6570\u8981\u56e0\u306e\u91cd\u306a\u308a\u304c\u4fa1\u683c\u3092\u5927\u304d\u304f\u52d5\u304b\u3059\u3068\u3044\u3046\u69cb\u9020\u304c\u3001\u3053\u306e\u6642\u671f\u306b\u660e\u78ba\u306b\u73fe\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"covid-gold-record-high\" class=\"wp-block-heading\">\u30b3\u30ed\u30ca\u798d\u3067\u306f\u53f2\u4e0a\u6700\u9ad8\u5024\u3092\u66f4\u65b0\u3059\u308b\u307b\u3069\u306e\u6025\u9a30\u304c\u8d77\u304d\u305f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b3\u30ed\u30ca\u798d\u306e<b>2020\u5e748\u6708<\/b>\u3001\u91d1\u306e\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306f1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9<b><span class=\"swl-inline-color has-swl-deep-01-color\">2,075\u30c9\u30eb<\/span><\/b>\u3068\u5f53\u6642\u306e\u53f2\u4e0a\u6700\u9ad8\u5024\u3092\u8a18\u9332\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6025\u9a30\u306e\u80cc\u666f\u306b\u3042\u3063\u305f\u306e\u306f\u3001\u4e16\u754c\u898f\u6a21\u306e\u7d4c\u6e08\u5c01\u9396\u306b\u3088\u308b\u666f\u6c17\u60aa\u5316\u3078\u306e\u4e0d\u5b89\u3068\u3001\u5404\u56fd\u653f\u5e9c\u30fb\u4e2d\u592e\u9280\u884c\u304c\u6253\u3061\u51fa\u3057\u305f<b>\u7a7a\u524d\u898f\u6a21\u306e\u8ca1\u653f\u51fa\u52d5\u30fb\u91d1\u878d\u7de9\u548c<\/b>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u3060\u3051\u3067\u6570\u5146\u30c9\u30eb\u898f\u6a21\u306e\u7d4c\u6e08\u5bfe\u7b56\u304c\u5b9f\u65bd\u3055\u308c\u3001\u5e02\u5834\u3078\u306e\u8cc7\u91d1\u4f9b\u7d66\u91cf\u304c\u6025\u5897\u3057\u305f\u3053\u3068\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u3078\u306e\u8b66\u6212\u611f\u304c\u9ad8\u307e\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-inner\"><div class=\"cap_box_ttl\"><span>\u30b3\u30ed\u30ca\u798d\u306e\u53f2\u4e0a\u6700\u9ad8\u5024\u66f4\u65b0\u3092\u652f\u3048\u305f\u8981\u56e0<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u4e16\u754c\u898f\u6a21\u306e\u7d4c\u6e08\u5c01\u9396\u306b\u3088\u308b\u666f\u6c17\u60aa\u5316\u3078\u306e\u4e0d\u5b89\uff08\u5b89\u5168\u8cc7\u7523\u9700\u8981\uff09<\/li>\n\n\n\n<li>\u5404\u56fd\u306e\u7a7a\u524d\u898f\u6a21\u306e\u8ca1\u653f\u51fa\u52d5\u30fb\u91d1\u878d\u7de9\u548c\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u8b66\u6212<\/li>\n\n\n\n<li>\u5b9f\u8cea\u91d1\u5229\u304c\u30de\u30a4\u30ca\u30b9\u570f\u306b\u6c88\u307f\u3001\u91d1\u4fdd\u6709\u30b3\u30b9\u30c8\u304c\u76f8\u5bfe\u7684\u306b\u4f4e\u4e0b<\/li>\n\n\n\n<li>2020\u5e748\u6708\u306b1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b92,075\u30c9\u30eb\u306e\u5f53\u6642\u306e\u53f2\u4e0a\u6700\u9ad8\u5024\u3092\u8a18\u9332<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b9f\u8cea\u91d1\u5229<\/span><\/b>\u3001\u3064\u307e\u308a\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u5dee\u3057\u5f15\u3044\u305f\u5f8c\u306e\u91d1\u5229\u304c\u30de\u30a4\u30ca\u30b9\u570f\u306b\u6c88\u3093\u3060\u3053\u3068\u3082\u3001\u91d1\u306b\u8cc7\u91d1\u304c\u6d41\u5165\u3057\u305f\u5927\u304d\u306a\u7406\u7531\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u5b9f\u8cea\u91d1\u5229\u304c\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308b\u3068\u3001\u91d1\u5229\u3092\u751f\u307e\u306a\u3044\u91d1\u3092\u4fdd\u6709\u3059\u308b\u30b3\u30b9\u30c8\u304c\u76f8\u5bfe\u7684\u306b\u4e0b\u304c\u308b\u305f\u3081\u3001\u91d1\u3078\u306e\u9700\u8981\u304c\u9ad8\u307e\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u95a2\u4fc2\u306f\u73fe\u5728\u306e\u4fa1\u683c\u3092\u8aad\u3080\u969b\u306b\u3082\u6709\u52b9\u306a\u8996\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u3068\u306e\u5171\u901a\u70b9\u306f\u91cf\u7684\u7de9\u548c\u306b\u3088\u308b\u901a\u8ca8\u5e0c\u8584\u5316\u3067\u3059\u304c\u3001\u30b3\u30ed\u30ca\u798d\u3067\u306f\u305d\u3053\u306b<b><span class=\"swl-marker mark_yellow\">\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u3068\u3044\u3046\u524d\u4f8b\u306e\u306a\u3044\u4e0d\u78ba\u5b9f\u6027<\/span><\/b>\u304c\u52a0\u308f\u308a\u3001\u4fa1\u683c\u306e\u4e0a\u6607\u30b9\u30d4\u30fc\u30c9\u304c\u4e00\u6bb5\u3068\u901f\u304f\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u53f2\u4e0a\u6700\u9ad8\u5024\u66f4\u65b0\u5f8c\u306f\u5229\u76ca\u78ba\u5b9a\u58f2\u308a\u306b\u3088\u308b\u8abf\u6574\u3082\u5165\u308a\u307e\u3057\u305f\u304c\u3001\u305d\u306e\u5f8c\u306e\u4fa1\u683c\u6c34\u6e96\u306f\u30b3\u30ed\u30ca\u524d\u3092\u5927\u304d\u304f\u4e0a\u56de\u308b\u9ad8\u5024\u570f\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"ukraine-geopolitical-inflation\" class=\"wp-block-heading\">\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u5f8c\u306f\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u8cc7\u6e90\u30a4\u30f3\u30d5\u30ec\u304c\u91cd\u306a\u3063\u305f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><b>2022\u5e742\u6708<\/b>\u306e\u30ed\u30b7\u30a2\u306b\u3088\u308b\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u5f8c\u3001\u91d1\u4fa1\u683c\u306f\u77ed\u671f\u9593\u30671\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9<b><span class=\"swl-inline-color has-swl-deep-01-color\">2,000\u30c9\u30eb<\/span><\/b>\u3092\u8d85\u3048\u308b\u6c34\u6e96\u307e\u3067\u6025\u4f38\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u5c40\u9762\u306e\u7279\u5fb4\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u5b89\u5168\u8cc7\u7523\u9700\u8981\u3068\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u304c\u540c\u6642\u306b\u767a\u751f\u3057\u305f<\/span><\/b>\u70b9\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ed\u30b7\u30a2\u3068\u30a6\u30af\u30e9\u30a4\u30ca\u306f\u3068\u3082\u306b\u5c0f\u9ea6\u30fb\u30a8\u30cd\u30eb\u30ae\u30fc\u8cc7\u6e90\u306e\u4e3b\u8981\u8f38\u51fa\u56fd\u3067\u3042\u308a\u3001\u4fb5\u653b\u306b\u3088\u308b\u4f9b\u7d66\u4e0d\u5b89\u304c\u4e16\u754c\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3092\u52a0\u901f\u3055\u305b\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a4\u30f3\u30d5\u30ec\u304c\u9ad8\u307e\u308b\u5c40\u9762\u3067\u306f\u5b9f\u7269\u8cc7\u7523\u3067\u3042\u308b\u91d1\u306e<b>\u8cfc\u8cb7\u529b\u7dad\u6301\u6a5f\u80fd<\/b>\u304c\u6ce8\u76ee\u3055\u308c\u3001\u30d8\u30c3\u30b8\u76ee\u7684\u306e\u9700\u8981\u304c\u5897\u52a0\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u3053\u306e\u5c40\u9762\u3067\u306f\u4fb5\u653b\u76f4\u5f8c\u306e\u6025\u4f38\u5f8c\u306b\u4fa1\u683c\u304c\u53cd\u843d\u3059\u308b\u5834\u9762\u3082\u3042\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><b><span class=\"swl-inline-color has-swl-deep-01-color\">FRB<\/span><\/b>\u304c\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306e\u305f\u3081\u306b\u6025\u901f\u306a\u5229\u4e0a\u3052\u306b\u8ee2\u3058\u305f\u3053\u3068\u3067\u3001\u91d1\u5229\u4e0a\u6607\u304c\u91d1\u4fa1\u683c\u306e\u4e0a\u5024\u3092\u6291\u3048\u308b\u529b\u3068\u3057\u3066\u50cd\u3044\u305f\u305f\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306b\u3088\u308b\u4fa1\u683c\u4e0a\u6607\u306f\u77ed\u671f\u7684\u306b\u6025\u4f38\u3057\u3084\u3059\u3044\u4e00\u65b9\u3001\u91d1\u878d\u653f\u7b56\u306e\u5909\u5316\u304c\u91cd\u306a\u308b\u3068\u65b9\u5411\u611f\u304c\u8907\u96d1\u306b\u306a\u308a\u307e\u3059\u3002\u5358\u4e00\u306e\u8981\u56e0\u3060\u3051\u3067\u4fa1\u683c\u3092\u4e88\u6e2c\u3057\u3088\u3046\u3068\u305b\u305a\u3001\u8907\u6570\u306e\u8981\u56e0\u3092\u540c\u6642\u306b\u78ba\u8a8d\u3059\u308b\u7fd2\u6163\u3092\u3064\u3051\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">3\u3064\u306e\u5c40\u9762\u3092\u901a\u3058\u3066\u898b\u3048\u3066\u304f\u308b\u306e\u306f\u3001\u300c\u5b89\u5168\u8cc7\u7523\u9700\u8981\u300d\u300c\u901a\u8ca8\u5e0c\u8584\u5316\u300d\u300c\u30a4\u30f3\u30d5\u30ec\u300d\u306e\u3044\u305a\u308c\u304b\u304c<b>2\u3064\u4ee5\u4e0a\u91cd\u306a\u3063\u305f\u3068\u304d<\/b>\u306b\u3001\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u304c\u7279\u306b\u5927\u304d\u304f\u306a\u308b\u3068\u3044\u3046\u69cb\u9020\u3067\u3059\u3002<\/p>\n\n\n\n<h2 id=\"multiple-factors-amplify\" class=\"wp-block-heading\">\u8907\u6570\u306e\u8981\u56e0\u304c\u540c\u6642\u306b\u52d5\u3044\u305f\u3068\u304d\u91d1\u4fa1\u683c\u3078\u306e\u5f71\u97ff\u304c\u5897\u5e45\u3055\u308c\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306f\u3001\u8907\u6570\u306e\u8981\u56e0\u304c\u540c\u6642\u306b\u540c\u3058\u65b9\u5411\u3078\u52d5\u3044\u305f\u3068\u304d\u3001\u500b\u3005\u306e\u5f71\u97ff\u3092\u5358\u7d14\u306b\u8db3\u3057\u5408\u308f\u305b\u305f\u4ee5\u4e0a\u306e\u4fa1\u683c\u5909\u52d5\u304c\u751f\u3058\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u306f\u5404\u8981\u56e0\u304c\u4e92\u3044\u306b\u9023\u52d5\u3057\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u76f8\u4e57\u52b9\u679c<\/span><\/b>\u3092\u751f\u307f\u51fa\u3059\u305f\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u8981\u56e0\u306e\u91cd\u306a\u308a\u304c\u4fa1\u683c\u5909\u52d5\u3092\u5897\u5e45\u30fb\u6291\u5236\u3059\u308b\u30e1\u30ab\u30cb\u30ba\u30e0<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#rate-yen-double-push\">\u91d1\u5229\u4f4e\u4e0b\u3068\u5186\u5b89\u304c\u91cd\u306a\u308b\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u304c\u7279\u306b\u5927\u304d\u304f\u306a\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#geopolitical-inflation-demand\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u767a\u751f\u3059\u308b\u3068\u9700\u8981\u304c\u96c6\u4e2d\u3057\u3084\u3059\u3044<\/a><\/li>\n\n\n\n<li><a href=\"#opposing-factors-suppress\">\u8981\u56e0\u304c\u9006\u65b9\u5411\u306b\u50cd\u304f\u3068\u4fa1\u683c\u4e0a\u6607\u304c\u6291\u5236\u3055\u308c\u308b\u5834\u5408\u3082\u3042\u308b<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u9006\u306b\u3001\u8981\u56e0\u304c\u76f8\u53cd\u3059\u308b\u65b9\u5411\u3078\u52d5\u3051\u3070\u3001\u4e0a\u6607\u5727\u529b\u3068\u4e0b\u843d\u5727\u529b\u304c\u6253\u3061\u6d88\u3057\u5408\u3044\u3001\u4fa1\u683c\u306e\u5909\u52d5\u5e45\u304c\u5c0f\u3055\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306e\u52d5\u304d\u3092\u8aad\u3080\u969b\u306b\u306f\u3001\u300c\u3069\u306e\u8981\u56e0\u304c\u52d5\u3044\u3066\u3044\u308b\u304b\u300d\u3060\u3051\u3067\u306a\u304f<b><span class=\"swl-marker mark_yellow\">\u8907\u6570\u306e\u8981\u56e0\u304c\u540c\u3058\u65b9\u5411\u306b\u63c3\u3063\u3066\u3044\u308b\u304b<\/span><\/b>\u3092\u78ba\u8a8d\u3059\u308b\u3053\u3068\u304c\u3001\u3088\u308a\u7cbe\u5ea6\u306e\u9ad8\u3044\u5224\u65ad\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"rate-yen-double-push\" class=\"wp-block-heading\">\u91d1\u5229\u4f4e\u4e0b\u3068\u5186\u5b89\u304c\u91cd\u306a\u308b\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u304c\u7279\u306b\u5927\u304d\u304f\u306a\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u91d1\u5229\u306e\u4f4e\u4e0b\u3068\u5186\u5b89\u304c\u540c\u6642\u306b\u9032\u884c\u3059\u308b\u3068\u3001\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f<b>\u4e8c\u91cd\u306e\u62bc\u3057\u4e0a\u3052\u52b9\u679c<\/b>\u3092\u53d7\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u4f4e\u4e0b\u306f\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u3092\u5f15\u304d\u4e0a\u3052\u308b\u8981\u56e0\u3068\u3057\u3066\u50cd\u304d\u3001\u540c\u6642\u306b\u5186\u5b89\u306f\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3092\u5186\u306b\u63db\u7b97\u3057\u305f\u969b\u306e\u6570\u5024\u3092\u3055\u3089\u306b\u5927\u304d\u304f\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eee\u306b\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c<b>5%\u4e0a\u6607<\/b>\u3057\u3001\u540c\u6642\u671f\u306b\u5186\u304c<b>5%\u4e0b\u843d<\/b>\u3057\u305f\u5834\u5408\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306f\u304a\u3088\u305d<b>10%\u4ee5\u4e0a<\/b>\u306e\u4e0a\u6607\u306b\u306a\u308b\u8a08\u7b97\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-shadow\"><div class=\"cap_box_ttl\"><span>\u91d1\u5229\u4f4e\u4e0b\u00d7\u5186\u5b89\u306e\u4e8c\u91cd\u52b9\u679c\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c5%\u4e0a\u6607 \uff0b \u5186\u304c5%\u4e0b\u843d\uff08\u5186\u5b89\uff09\u2192 \u5186\u5efa\u3066\u4fa1\u683c\u306f\u7d0410%\u4ee5\u4e0a\u306e\u4e0a\u6607<\/li>\n\n\n\n<li>2\u3064\u306e\u529b\u304c\u540c\u65b9\u5411\u306b\u91cd\u306a\u308b\u3068\u3001\u5358\u7d14\u306a\u8db3\u3057\u7b97\u4ee5\u4e0a\u306e\u5909\u52d5\u5e45\u306b\u306a\u308a\u3084\u3059\u3044<\/li>\n\n\n\n<li>\u65e5\u672c\u5728\u4f4f\u306e\u6295\u8cc7\u5bb6\u306f\u91d1\u5229\u52d5\u5411\u3068\u70ba\u66ff\u52d5\u5411\u3092\u30bb\u30c3\u30c8\u3067\u8ffd\u3046\u7fd2\u6163\u304c\u91cd\u8981<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u4ee5\u964d\u306e\u5c40\u9762\u304c\u3053\u306e\u69cb\u9020\u3092\u793a\u3059\u5178\u578b\u3067\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u304c\u6b74\u53f2\u7684\u9ad8\u5024\u570f\u3067\u63a8\u79fb\u3059\u308b\u4e2d\u3001\u5186\u5b89\u304c\u9032\u884c\u3057\u305f\u3053\u3068\u3067\u5186\u5efa\u3066\u4fa1\u683c\u306f\u4e00\u6bb5\u3068\u9ad8\u3044\u6c34\u6e96\u3092\u8a18\u9332\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u5186\u5efa\u3066\u4fa1\u683c\u306e\u6025\u9a30\u5c40\u9762\u3067\u306f\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u52d5\u304d\u3068\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u4e21\u65b9\u3092\u540c\u6642\u306b\u78ba\u8a8d\u3059\u308b\u3053\u3068\u3067\u3001\u4e0a\u6607\u306e\u5185\u8a33\u3092\u628a\u63e1\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u65e5\u672c\u5728\u4f4f\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001<b><span class=\"swl-marker mark_yellow\">\u91d1\u5229\u52d5\u5411\u3068\u70ba\u66ff\u52d5\u5411\u3092\u30bb\u30c3\u30c8\u3067\u8ffd\u3046<\/span><\/b>\u7fd2\u6163\u3092\u6301\u3064\u3088\u3046\u306b\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"geopolitical-inflation-demand\" class=\"wp-block-heading\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u767a\u751f\u3059\u308b\u3068\u9700\u8981\u304c\u96c6\u4e2d\u3057\u3084\u3059\u3044<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u306b\u767a\u751f\u3059\u308b\u3068\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b89\u5168\u8cc7\u7523\u9700\u8981<\/span><\/b>\u3068\u30a4\u30f3\u30d5\u30ec\u30d8\u30c3\u30b8\u3068\u3057\u3066\u306e\u9700\u8981\u304c\u91cd\u306a\u308a\u3001\u91d1\u3078\u306e\u8cc7\u91d1\u6d41\u5165\u304c\u52a0\u901f\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u901a\u5e38\u3001\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3060\u3051\u3067\u3042\u308c\u3070\u4e00\u6642\u7684\u306a\u4fa1\u683c\u4e0a\u6607\u306b\u3068\u3069\u307e\u308a\u3001\u30ea\u30b9\u30af\u304c\u5f8c\u9000\u3059\u308b\u3068\u4fa1\u683c\u3082\u843d\u3061\u7740\u304f\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3057\u304b\u3057\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u9032\u884c\u3057\u3066\u3044\u308b\u5c40\u9762\u3067\u306f\u3001\u30ea\u30b9\u30af\u304c\u5f8c\u9000\u3057\u305f\u5f8c\u3082\u901a\u8ca8\u4fa1\u5024\u306e\u76ee\u6e1b\u308a\u3092\u8b66\u6212\u3057\u305f\u9700\u8981\u304c\u6b8b\u308b\u305f\u3081\u3001<b><span class=\"swl-marker mark_yellow\">\u4fa1\u683c\u306e\u9ad8\u6b62\u307e\u308a\u304c\u7d9a\u304d\u3084\u3059\u304f<\/span><\/b>\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u5f8c\u306e\u5c40\u9762\u306f\u3053\u306e\u69cb\u9020\u306b\u8fd1\u304f\u3001\u5730\u653f\u5b66\u7684\u306a\u7dca\u5f35\u3068\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u4e0a\u6607\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u304c\u540c\u6642\u306b\u9032\u884c\u3057\u305f\u3053\u3068\u3067\u3001\u91d1\u3078\u306e\u9700\u8981\u304c\u6301\u7d9a\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u5927\u898f\u6a21\u306a\u91d1\u8cfc\u5165\u304c\u3053\u306e\u6642\u671f\u306b\u91cd\u306a\u3063\u305f\u3053\u3068\u3082\u3001\u9700\u8981\u96c6\u4e2d\u3092\u3055\u3089\u306b\u5f37\u3081\u308b\u65b9\u5411\u306b\u4f5c\u7528\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u8907\u6570\u306e\u9700\u8981\u304c\u91cd\u306a\u308b\u5c40\u9762\u3067\u306f\u4fa1\u683c\u304c\u6025\u9a30\u3057\u3084\u3059\u3044\u53cd\u9762\u3001\u8907\u6570\u306e\u8981\u56e0\u304c\u540c\u6642\u306b\u89e3\u6d88\u3055\u308c\u308b\u3068\u6025\u843d\u3059\u308b\u30ea\u30b9\u30af\u3082\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u6c34\u6e96\u304c\u9ad8\u3044\u5c40\u9762\u3067\u306f\u3001\u4e0a\u6607\u306e\u80cc\u666f\u306b\u3042\u308b\u8981\u56e0\u306e\u6570\u3068\u6301\u7d9a\u6027\u3092\u614e\u91cd\u306b\u898b\u6975\u3081\u308b\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"opposing-factors-suppress\" class=\"wp-block-heading\">\u8981\u56e0\u304c\u9006\u65b9\u5411\u306b\u50cd\u304f\u3068\u4fa1\u683c\u4e0a\u6607\u304c\u6291\u5236\u3055\u308c\u308b\u5834\u5408\u3082\u3042\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8907\u6570\u306e\u8981\u56e0\u304c\u76f8\u53cd\u3059\u308b\u65b9\u5411\u3078\u52d5\u304f\u3068\u3001\u305d\u308c\u305e\u308c\u306e\u5f71\u97ff\u304c\u76f8\u6bba\u3055\u308c\u3001\u91d1\u4fa1\u683c\u306e\u5909\u52d5\u5e45\u304c\u5c0f\u3055\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u91d1\u5229\u306e\u4e0a\u6607\u306f\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306b\u4e0b\u843d\u5727\u529b\u3092\u304b\u3051\u308b\u4e00\u65b9\u3001\u540c\u6642\u671f\u306b\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u3063\u3066\u3044\u308c\u3070\u5b89\u5168\u8cc7\u7523\u9700\u8981\u304c\u62bc\u3057\u4e0a\u3052\u8981\u56e0\u3068\u3057\u3066\u50cd\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4e8c\u3064\u304c\u62ee\u6297\u3059\u308b\u3068\u3001\u4fa1\u683c\u306f\u5927\u304d\u304f\u52d5\u304b\u305a\u306b\u4e00\u5b9a\u306e\u6c34\u6e96\u3067\u63a8\u79fb\u3059\u308b<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30ec\u30f3\u30b8\u76f8\u5834<\/span><\/b>\u306b\u306a\u308a\u3084\u3059\u3044\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box\"><div class=\"cap_box_ttl\"><span>\u8981\u56e0\u304c\u62ee\u6297\u3059\u308b\u30ec\u30f3\u30b8\u76f8\u5834\u306e\u898b\u65b9<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>\u91d1\u5229\u4e0a\u6607\uff08\u4e0b\u843d\u5727\u529b\uff09\uff0b\u5730\u653f\u5b66\u30ea\u30b9\u30af\u9ad8\uff08\u4e0a\u6607\u5727\u529b\uff09\u304c\u62ee\u6297\u2192\u4fa1\u683c\u304c\u81a0\u7740\u3057\u3084\u3059\u3044<\/li>\n\n\n\n<li>2023\u5e74\u5f8c\u534a\u301c2024\u5e74\u524d\u534a\uff1a\u9ad8\u91d1\u5229\u4e0b\u3067\u3082\u4e2d\u6771\u60c5\u52e2\u306e\u7dca\u5f35\u304c\u5b89\u5168\u8cc7\u7523\u9700\u8981\u3092\u652f\u3048\u5e95\u5805\u304f\u63a8\u79fb<\/li>\n\n\n\n<li>\u3069\u3061\u3089\u306e\u529b\u304c\u5148\u306b\u5909\u5316\u3059\u308b\u304b\u3067\u3001\u6b21\u306e\u5927\u304d\u306a\u65b9\u5411\u611f\u304c\u6c7a\u307e\u308b<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">2023\u5e74\u5f8c\u534a\u304b\u30892024\u5e74\u524d\u534a\u306b\u304b\u3051\u3066\u306e\u5c40\u9762\u3067\u306f\u3001\u9ad8\u91d1\u5229\u74b0\u5883\u304c\u7d9a\u304f\u4e2d\u3067\u3082\u4e2d\u6771\u60c5\u52e2\u306e\u7dca\u5f35\u304c\u5b89\u5168\u8cc7\u7523\u9700\u8981\u3092\u652f\u3048\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u5e95\u5805\u304f\u63a8\u79fb\u3057\u305f\u6642\u671f\u304c\u3042\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8981\u56e0\u304c\u62ee\u6297\u3057\u3066\u3044\u308b\u5c40\u9762\u3067\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u3069\u3061\u3089\u306e\u529b\u304c\u5148\u306b\u5909\u5316\u3059\u308b\u304b<\/span><\/b>\u306b\u3088\u3063\u3066\u4fa1\u683c\u304c\u5927\u304d\u304f\u52d5\u304d\u51fa\u3059\u305f\u3081\u3001\u65b9\u5411\u611f\u304c\u898b\u3048\u306b\u304f\u3044\u72b6\u614b\u304c\u7d9a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u304c\u81a0\u7740\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u3066\u3082\u3001\u8907\u6570\u306e\u8981\u56e0\u304c\u7db1\u5f15\u304d\u3092\u3057\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3053\u3068\u3092\u5ff5\u982d\u306b\u7f6e\u3044\u3066\u76f8\u5834\u3092\u89b3\u5bdf\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 id=\"gold-price-decline-conditions\" class=\"wp-block-heading\">\u91d1\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u6761\u4ef6\u3068\u53cd\u8ee2\u30ea\u30b9\u30af\u3092\u77e5\u3063\u3066\u304a\u304f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306f\u4e0a\u6607\u8981\u56e0\u3060\u3051\u3067\u306a\u304f\u3001\u4e0b\u843d\u306b\u8ee2\u3058\u308b\u6761\u4ef6\u3082\u660e\u78ba\u306b\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u6607\u5c40\u9762\u304c\u7d9a\u3044\u3066\u3044\u308b\u3068\u304d\u307b\u3069\u3001<b><span class=\"swl-marker mark_yellow\">\u53cd\u8ee2\u30ea\u30b9\u30af\u3092\u628a\u63e1\u3057\u3066\u304a\u304f\u3053\u3068<\/span><\/b>\u304c\u51b7\u9759\u306a\u5224\u65ad\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u91d1\u4fa1\u683c\u304c\u4e0b\u843d\u306b\u8ee2\u3058\u308b3\u3064\u306e\u6761\u4ef6\u3068\u53cd\u8ee2\u30ea\u30b9\u30af<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#rate-hike-sell-pressure\">\u7c73\u56fd\u91d1\u5229\u306e\u6025\u4e0a\u6607\u306f\u91d1\u306e\u4fdd\u6709\u30b3\u30b9\u30c8\u3092\u9ad8\u3081\u3066\u58f2\u308a\u5727\u529b\u306b\u306a\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#geopolitical-risk-retreat\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u5f8c\u9000\u3084\u682a\u9ad8\u5c40\u9762\u3067\u306f\u30ea\u30b9\u30af\u8cc7\u7523\u3078\u8cc7\u91d1\u304c\u623b\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#dollar-strength-gold-price\">\u30c9\u30eb\u9ad8\u304c\u9032\u3080\u3068\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u4e0a\u5024\u304c\u91cd\u304f\u306a\u308b<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0b\u3052\u308b\u4e3b\u306a\u529b\u306f\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7c73\u56fd\u91d1\u5229\u306e\u4e0a\u6607<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u5f8c\u9000<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30c9\u30eb\u9ad8<\/span><\/b>\u306e3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u3089\u306f\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u8981\u56e0\u3068\u3061\u3087\u3046\u3069\u9006\u306e\u69cb\u9020\u3092\u6301\u3063\u3066\u304a\u308a\u3001\u4e0a\u6607\u5c40\u9762\u3067\u50cd\u3044\u3066\u3044\u305f\u529b\u304c\u5dfb\u304d\u623b\u3055\u308c\u308b\u3068\u3001\u4fa1\u683c\u306f\u6025\u901f\u306b\u4e0b\u843d\u65b9\u5411\u3078\u52d5\u304f\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table min_width20_ is-all-centered\"><table style=\"--swl-cell1-width:;font-size:13px;\"><thead><tr><th>\u4e0b\u843d\u8981\u56e0<\/th><th>\u30e1\u30ab\u30cb\u30ba\u30e0<\/th><\/tr><\/thead><tbody><tr><th>\u7c73\u56fd\u91d1\u5229\u306e\u6025\u4e0a\u6607<\/th><td>\u5229\u56de\u308a\u8cc7\u7523\u306e\u512a\u4f4d\u6027\u304c\u9ad8\u307e\u308a\u3001\u91d1\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3059\u308b<\/td><\/tr><tr><th>\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u5f8c\u9000<\/th><td>\u5b89\u5168\u8cc7\u7523\u9700\u8981\u304c\u5265\u843d\u3057\u3001\u682a\u5f0f\u306a\u3069\u9ad8\u30ea\u30bf\u30fc\u30f3\u8cc7\u7523\u3078\u8cc7\u91d1\u304c\u623b\u308b<\/td><\/tr><tr><th>\u30c9\u30eb\u9ad8\u306e\u9032\u884c<\/th><td>\u4ed6\u901a\u8ca8\u4fdd\u6709\u8005\u306b\u3068\u3063\u3066\u91d1\u306e\u8cfc\u5165\u30b3\u30b9\u30c8\u304c\u5272\u9ad8\u306b\u306a\u308a\u3001\u9700\u8981\u304c\u6291\u5236\u3055\u308c\u308b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u306e\u7d99\u7d9a\u3092\u524d\u63d0\u306b\u3057\u3059\u304e\u305a\u3001\u4e0b\u843d\u6761\u4ef6\u3092\u4e8b\u524d\u306b\u6574\u7406\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"rate-hike-sell-pressure\" class=\"wp-block-heading\">\u7c73\u56fd\u91d1\u5229\u306e\u6025\u4e0a\u6607\u306f\u91d1\u306e\u4fdd\u6709\u30b3\u30b9\u30c8\u3092\u9ad8\u3081\u3066\u58f2\u308a\u5727\u529b\u306b\u306a\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u91d1\u5229\u304c\u6025\u4e0a\u6607\u3059\u308b\u3068\u3001\u91d1\u3078\u306e\u58f2\u308a\u5727\u529b\u304c\u5f37\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u5229\u606f\u3084\u914d\u5f53\u3092\u751f\u307e\u306a\u3044\u8cc7\u7523\u3067\u3042\u308b\u305f\u3081\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308b\u307b\u3069\u56fd\u50b5\u3084\u9810\u91d1\u306a\u3069\u5229\u56de\u308a\u306e\u3042\u308b\u8cc7\u7523\u3068\u6bd4\u3079\u305f\u969b\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u304c\u4e0b\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6295\u8cc7\u5bb6\u306e\u7acb\u5834\u304b\u3089\u898b\u308b\u3068\u3001\u91d1\u3092\u4fdd\u6709\u3057\u7d9a\u3051\u308b\u3053\u3068\u306f\u300c\u5229\u56de\u308a\u3092\u5f97\u3089\u308c\u308b\u6a5f\u4f1a\u3092\u624b\u653e\u3057\u3066\u3044\u308b\u72b6\u614b\u300d\u3067\u3042\u308a\u3001\u91d1\u5229\u4e0a\u6607\u306f\u305d\u306e<b><span class=\"swl-marker mark_yellow\">\u6a5f\u4f1a\u30b3\u30b9\u30c8\u3092\u76f4\u63a5\u5f15\u304d\u4e0a\u3052<\/span><\/b>\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2022\u5e74\u306e<b>\u7c73\u9023\u90a6\u6e96\u5099\u5236\u5ea6\u7406\u4e8b\u4f1a\uff08FRB\uff09<\/b>\u306b\u3088\u308b\u6025\u901f\u306a\u5229\u4e0a\u3052\u5c40\u9762\u3067\u306f\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9\u5f53\u305f\u308a2,000\u30c9\u30eb\u53f0\u304b\u30891,600\u30c9\u30eb\u53f0\u3078\u4e0b\u843d\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-inner\"><div class=\"cap_box_ttl\"><span>2022\u5e74FRB\u6025\u901f\u5229\u4e0a\u3052\u5c40\u9762\u306e\u5b9f\u4f8b<\/span><\/div><div class=\"cap_box_content\">\n<p class=\"wp-block-paragraph\">FRB\u304c\u6025\u901f\u306a\u5229\u4e0a\u3052\u3092\u5b9f\u65bd\u3057\u305f2022\u5e74\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306f<strong>1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b92,000\u30c9\u30eb\u53f0\u304b\u30891,600\u30c9\u30eb\u53f0\u3078\u4e0b\u843d<\/strong>\u3002\u91d1\u5229\u4e0a\u6607\u306e\u30da\u30fc\u30b9\u304c\u901f\u3044\u307b\u3069\u3001\u91d1\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u3082\u77ed\u671f\u9593\u306b\u96c6\u4e2d\u3057\u3084\u3059\u304f\u306a\u308b\u3002<\/p>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u4e0a\u6607\u306e\u30da\u30fc\u30b9\u304c\u901f\u3044\u307b\u3069\u3001\u91d1\u304b\u3089\u306e\u8cc7\u91d1\u6d41\u51fa\u3082\u77ed\u671f\u9593\u306b\u96c6\u4e2d\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u300c\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u91d1\u304c\u4e0b\u304c\u308b\u300d\u3068\u3044\u3046\u95a2\u4fc2\u306f\u5e38\u306b\u6210\u7acb\u3059\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001\u30a4\u30f3\u30d5\u30ec\u3084\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u540c\u6642\u306b\u9ad8\u307e\u3063\u3066\u3044\u308b\u5c40\u9762\u3067\u306f\u3001\u91d1\u5229\u4e0a\u6607\u306e\u5f71\u97ff\u304c\u76f8\u6bba\u3055\u308c\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5229\u52d5\u5411\u3092\u8ffd\u3046\u969b\u306f\u3001\u653f\u7b56\u91d1\u5229\u306e\u6c34\u6e96\u305d\u306e\u3082\u306e\u3060\u3051\u3067\u306a\u304f\u3001<b><span class=\"swl-marker mark_yellow\">\u5229\u4e0a\u3052\u30fb\u5229\u4e0b\u3052\u306e\u65b9\u5411\u8ee2\u63db\u30b7\u30b0\u30ca\u30eb<\/span><\/b>\u306b\u3082\u6ce8\u76ee\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"geopolitical-risk-retreat\" class=\"wp-block-heading\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u5f8c\u9000\u3084\u682a\u9ad8\u5c40\u9762\u3067\u306f\u30ea\u30b9\u30af\u8cc7\u7523\u3078\u8cc7\u91d1\u304c\u623b\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u548c\u3089\u3044\u3060\u308a\u3001\u682a\u5f0f\u5e02\u5834\u304c\u5f37\u3044\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u306b\u5165\u3063\u305f\u308a\u3059\u308b\u3068\u3001\u91d1\u304b\u3089\u682a\u5f0f\u3084\u65b0\u8208\u56fd\u8cc7\u7523\u3078\u8cc7\u91d1\u304c\u79fb\u52d5\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u300c<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u6709\u4e8b\u306e\u8cb7\u3044<\/span><\/b>\u300d\u3068\u547c\u3070\u308c\u308b\u3088\u3046\u306b\u3001\u4e0d\u78ba\u5b9f\u6027\u304c\u9ad8\u3044\u5c40\u9762\u3067\u8cc7\u91d1\u306e\u9003\u907f\u5148\u3068\u3057\u3066\u8cb7\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u88cf\u3092\u8fd4\u305b\u3070\u3001\u4e0d\u78ba\u5b9f\u6027\u304c\u4f4e\u4e0b\u3057\u3066\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u304c\u56de\u5fa9\u3059\u308b\u3068\u3001\u3088\u308a\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u3092\u671f\u5f85\u3067\u304d\u308b\u30ea\u30b9\u30af\u8cc7\u7523\u304c\u9078\u3070\u308c\u3001\u91d1\u306e\u4fdd\u6709\u30cb\u30fc\u30ba\u304c\u76f8\u5bfe\u7684\u306b\u8584\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2009\u5e74\u304b\u30892013\u5e74\u306b\u304b\u3051\u3066\u306e\u682a\u5f0f\u5e02\u5834\u56de\u5fa9\u671f\u306b\u306f\u3001\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u5f8c\u306b\u6025\u9a30\u3057\u305f\u91d1\u4fa1\u683c\u304c\u4e0a\u5024\u306e\u91cd\u3044\u5c55\u958b\u3078\u3068\u79fb\u884c\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d1b\u4e89\u306e\u505c\u6226\u5408\u610f\u3084\u5916\u4ea4\u4ea4\u6e09\u306e\u9032\u5c55\u3068\u3044\u3063\u305f\u30cb\u30e5\u30fc\u30b9\u304c\u51fa\u305f\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u3001\u91d1\u4fa1\u683c\u304c\u77ed\u671f\u7684\u306b\u6025\u843d\u3059\u308b\u30b1\u30fc\u30b9\u3082\u904e\u53bb\u306b\u8907\u6570\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u9ad8\u307e\u308a\u3067\u91d1\u3092\u8cfc\u5165\u3057\u305f\u5834\u5408\u3001\u30ea\u30b9\u30af\u5f8c\u9000\u306e\u30cb\u30e5\u30fc\u30b9\u304c\u51fa\u305f\u76f4\u5f8c\u306f\u4fa1\u683c\u304c\u6025\u843d\u3057\u3084\u3059\u3044\u305f\u3081\u3001<b><span class=\"swl-marker mark_yellow\">\u4fdd\u6709\u76ee\u7684\u3068\u51fa\u53e3\u306e\u6761\u4ef6\u3092\u4e8b\u524d\u306b\u6574\u7406<\/span><\/b>\u3057\u3066\u304a\u304f\u3068\u5224\u65ad\u304c\u30b9\u30e0\u30fc\u30ba\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u5f0f\u5e02\u5834\u306e\u52d5\u5411\u3068\u91d1\u4fa1\u683c\u3092\u4e26\u884c\u3057\u3066\u89b3\u5bdf\u3059\u308b\u7fd2\u6163\u3092\u3064\u3051\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"dollar-strength-gold-price\" class=\"wp-block-heading\">\u30c9\u30eb\u9ad8\u304c\u9032\u3080\u3068\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306e\u4e0a\u5024\u304c\u91cd\u304f\u306a\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u9ad8\u304c\u9032\u3080\u3068\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u4e0a\u5024\u304c\u91cd\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u30c9\u30eb\u3067\u53d6\u5f15\u3055\u308c\u308b\u56fd\u969b\u5546\u54c1\u3067\u3042\u308b\u305f\u3081\u3001\u30c9\u30eb\u306e\u4fa1\u5024\u304c\u4e0a\u304c\u308b\u3068\u3001\u4ed6\u901a\u8ca8\u3092\u6301\u3064\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u91d1\u306e\u8cfc\u5165\u30b3\u30b9\u30c8\u304c\u5272\u9ad8\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u7d50\u679c\u3001\u30c9\u30eb\u570f\u5916\u304b\u3089\u306e\u9700\u8981\u304c\u6291\u5236\u3055\u308c\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u306b\u306f<b>\u4e0b\u843d\u5727\u529b<\/b>\u304c\u304b\u304b\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u7d4c\u6e08\u306e\u5805\u8abf\u3055\u3084\u7c73\u56fd\u3078\u306e\u8cc7\u91d1\u96c6\u4e2d\u3092\u80cc\u666f\u306b<b>\u30c9\u30eb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9<\/b>\u304c\u4e0a\u6607\u3057\u305f\u5c40\u9762\u3067\u306f\u3001\u91d1\u4fa1\u683c\u3068\u306e\u9006\u76f8\u95a2\u304c\u6bd4\u8f03\u7684\u660e\u78ba\u306b\u73fe\u308c\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u65e5\u672c\u5186\u3092\u4f7f\u3046\u6295\u8cc7\u5bb6\u306e\u5834\u5408\u3001\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3066\u3082\u5186\u5b89\u304c\u540c\u6642\u306b\u9032\u884c\u3057\u3066\u3044\u308c\u3070\u3001\u5186\u5efa\u3066\u4fa1\u683c\u306f\u4e0b\u304c\u3089\u306a\u3044\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u30c9\u30eb\u9ad8\u30fb\u5186\u5b89\u304c\u540c\u6642\u9032\u884c\u3057\u3066\u3044\u308b\u5c40\u9762\u3067\u306f\u3001\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u5186\u5efa\u3066\u4fa1\u683c\u304c\u9006\u65b9\u5411\u306b\u52d5\u304f\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\u4fdd\u6709\u3057\u3066\u3044\u308b\u91d1\u306e\u640d\u76ca\u3092\u6b63\u78ba\u306b\u628a\u63e1\u3059\u308b\u306b\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u5186\u5efa\u3066\u4fa1\u683c\u3092\u57fa\u6e96\u306b\u78ba\u8a8d<\/span><\/b>\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u3068\u5186\u5efa\u3066\u4fa1\u683c\u306e\u4e21\u65b9\u3092\u5b9a\u671f\u7684\u306b\u78ba\u8a8d\u3059\u308b\u7fd2\u6163\u3092\u6301\u3064\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 id=\"gold-price-outlook\" class=\"wp-block-heading\">\u4eca\u5f8c\u306e\u91d1\u4fa1\u683c\u306e\u898b\u901a\u3057\u3068\u500b\u4eba\u6295\u8cc7\u5bb6\u304c\u53d6\u308c\u308b\u9078\u629e\u80a2<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306e\u4eca\u5f8c\u3092\u5de6\u53f3\u3059\u308b\u4e3b\u306a\u5909\u6570\u306f\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">FRB\u306e\u91d1\u878d\u653f\u7b56<\/span><\/b>\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u52d5\u5411\u30fb\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u59ff\u52e2\u306e3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u4eca\u5f8c\u306e\u91d1\u4fa1\u683c\u3092\u5de6\u53f3\u3059\u308b\u5909\u6570\u3068\u6295\u8cc7\u624b\u6bb5\u306e\u9078\u3073\u65b9<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#fed-rate-cut-scenario\">FRB\u306e\u5229\u4e0b\u3052\u7d99\u7d9a\u30b7\u30ca\u30ea\u30aa\u306f\u91d1\u4fa1\u683c\u306e\u4e0b\u652f\u3048\u8981\u56e0\u306b\u306a\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#geopolitical-central-bank-demand\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u4e2d\u592e\u9280\u884c\u9700\u8981\u306f\u5f53\u9762\u306e\u4e0a\u6607\u5727\u529b\u3068\u3057\u3066\u6b8b\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#gold-investment-methods\">\u91d1ETF\u30fb\u7d14\u91d1\u7a4d\u7acb\u30fb\u91d1\u5730\u91d1\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4\u3068\u4f7f\u3044\u5206\u3051<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u30893\u3064\u304c\u540c\u6642\u306b\u91d1\u306e\u4e0a\u6607\u65b9\u5411\u3078\u50cd\u304f\u72b6\u6cc1\u306f\u30012025\u5e74\u6642\u70b9\u3067\u3082\u7d99\u7d9a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u65b9\u3067\u3001\u3069\u306e\u8981\u56e0\u3082\u4e00\u65b9\u5411\u306b\u52d5\u304d\u7d9a\u3051\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001\u5c40\u9762\u304c\u5909\u308f\u308c\u3070\u4e0b\u843d\u5727\u529b\u306b\u8ee2\u3058\u308b\u53ef\u80fd\u6027\u3082\u62b1\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u91cd\u8981\u306a\u306e\u306f\u3001\u898b\u901a\u3057\u3092\u300c\u5f37\u6c17\u304b\u5f31\u6c17\u304b\u300d\u3067\u4e8c\u629e\u306b\u7d5e\u308a\u8fbc\u3082\u3046\u3068\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001<b><span class=\"swl-marker mark_yellow\">\u30b7\u30ca\u30ea\u30aa\u3054\u3068\u306b\u4fa1\u683c\u304c\u3069\u3046\u52d5\u304f\u304b<\/span><\/b>\u3092\u628a\u63e1\u3057\u305f\u3046\u3048\u3067\u3001\u81ea\u5206\u306b\u5408\u3063\u305f\u4fdd\u6709\u65b9\u6cd5\u3092\u9078\u3076\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ee5\u4e0b\u3067\u306f\u3001FRB\u306e\u5229\u4e0b\u3052\u30b7\u30ca\u30ea\u30aa\u3068\u5730\u653f\u5b66\u30fb\u4e2d\u592e\u9280\u884c\u9700\u8981\u306e\u52d5\u5411\u3092\u6574\u7406\u3057\u305f\u3046\u3048\u3067\u3001\u91d1ETF\u30fb\u7d14\u91d1\u7a4d\u7acb\u30fb\u91d1\u5730\u91d1\u306e\u4f7f\u3044\u5206\u3051\u65b9\u307e\u3067\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"fed-rate-cut-scenario\" class=\"wp-block-heading\">FRB\u306e\u5229\u4e0b\u3052\u7d99\u7d9a\u30b7\u30ca\u30ea\u30aa\u306f\u91d1\u4fa1\u683c\u306e\u4e0b\u652f\u3048\u8981\u56e0\u306b\u306a\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">FRB\u304c\u5229\u4e0b\u3052\u3092\u7d99\u7d9a\u3059\u308b\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u3001\u7c73\u56fd\u306e<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b9f\u8cea\u91d1\u5229<\/span><\/b>\u304c\u4f4e\u4e0b\u3057\u3001\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u304c\u9ad8\u307e\u308b\u305f\u3081\u3001\u4fa1\u683c\u306e\u4e0b\u652f\u3048\u8981\u56e0\u3068\u3057\u3066\u50cd\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u5229\u606f\u3092\u751f\u307e\u306a\u3044\u8cc7\u7523\u3067\u3042\u308b\u305f\u3081\u3001\u56fd\u50b5\u306a\u3069\u306e\u5229\u56de\u308a\u304c\u4e0b\u304c\u308b\u307b\u3069\u4fdd\u6709\u30b3\u30b9\u30c8\u304c\u76f8\u5bfe\u7684\u306b\u5c0f\u3055\u304f\u306a\u308b\u3068\u3044\u3046\u69cb\u9020\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2024\u5e749\u6708\u4ee5\u964d\u3001FRB\u306f\u5229\u4e0b\u3052\u5c40\u9762\u306b\u8ee2\u3058\u3066\u304a\u308a\u3001\u3053\u306e\u65b9\u5411\u6027\u304c\u7dad\u6301\u3055\u308c\u308b\u9650\u308a\u3001\u91d1\u4fa1\u683c\u3092\u62bc\u3057\u4e0b\u3052\u308b\u5727\u529b\u306f\u9650\u5b9a\u7684\u306b\u306a\u308a\u3084\u3059\u3044\u72b6\u6cc1\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u518d\u52a0\u901f\u3057\u3066FRB\u304c\u5229\u4e0a\u3052\u306b\u8ee2\u3058\u305f\u5834\u5408\u3001\u3053\u306e\u30b7\u30ca\u30ea\u30aa\u306f\u5d29\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u306e\u96c7\u7528\u7d71\u8a08\u3084<b><span class=\"swl-inline-color has-swl-deep-01-color\">CPI<\/span><\/b>\uff08\u6d88\u8cbb\u8005\u7269\u4fa1\u6307\u6570\uff09\u306e\u767a\u8868\u5f8c\u306b\u91d1\u4fa1\u683c\u304c\u5927\u304d\u304f\u52d5\u304f\u306e\u306f\u3001FRB\u306e\u653f\u7b56\u5909\u66f4\u4e88\u6e2c\u304c\u5e02\u5834\u306b\u7e54\u308a\u8fbc\u307e\u308c\u308b\u305f\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u5229\u4e0b\u3052\u7d99\u7d9a\u304c\u78ba\u5b9a\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001\u7d4c\u6e08\u6307\u6a19\u6b21\u7b2c\u3067\u653f\u7b56\u306f\u5909\u66f4\u3055\u308c\u307e\u3059\u3002\u91d1\u4fa1\u683c\u306e\u898b\u901a\u3057\u3092\u5358\u4e00\u30b7\u30ca\u30ea\u30aa\u306b\u4f9d\u5b58\u3057\u305f\u5224\u65ad\u306f\u907f\u3051\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FRB\u306e\u52d5\u5411\u3092\u8ffd\u3046\u969b\u306f\u3001\u653f\u7b56\u91d1\u5229\u305d\u306e\u3082\u306e\u3060\u3051\u3067\u306a\u304f\u3001\u5e02\u5834\u304c\u6b21\u306e\u4f1a\u5408\u3067\u306e\u5229\u4e0b\u3052\u78ba\u7387\u3092\u3069\u3046\u898b\u7a4d\u3082\u3063\u3066\u3044\u308b\u304b\u3092\u793a\u3059<b><span class=\"swl-marker mark_yellow\">Fed\u30a6\u30a9\u30c3\u30c1\u306e\u6570\u5024<\/span><\/b>\u3082\u5408\u308f\u305b\u3066\u78ba\u8a8d\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"geopolitical-central-bank-demand\" class=\"wp-block-heading\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u4e2d\u592e\u9280\u884c\u9700\u8981\u306f\u5f53\u9762\u306e\u4e0a\u6607\u5727\u529b\u3068\u3057\u3066\u6b8b\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u3068\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u9700\u8981\u306f\u3001FRB\u306e\u653f\u7b56\u3068\u306f\u72ec\u7acb\u3057\u3066\u91d1\u4fa1\u683c\u3092\u652f\u3048\u308b<b>\u69cb\u9020\u7684\u306a\u8981\u56e0<\/b>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a6\u30af\u30e9\u30a4\u30ca\u30fb\u4e2d\u6771\u30fb\u53f0\u6e7e\u6d77\u5ce1\u3092\u3081\u3050\u308b\u7dca\u5f35\u306f2025\u5e74\u6642\u70b9\u3067\u3082\u89e3\u6d88\u3055\u308c\u3066\u304a\u3089\u305a\u3001\u6709\u4e8b\u3078\u306e\u5099\u3048\u3068\u3057\u3066\u91d1\u3092\u4fdd\u6709\u3059\u308b\u52d5\u304d\u304c\u7d99\u7d9a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306b\u3064\u3044\u3066\u306f\u3001\u4e16\u754c\u91d1\u5354\u4f1a\uff08WGC\uff09\u306e\u30c7\u30fc\u30bf\u306b\u3088\u308b\u3068\u30012022\u5e74\u4ee5\u964d\u306b\u5404\u56fd\u4e2d\u592e\u9280\u884c\u304c\u8cfc\u5165\u3057\u305f\u91d1\u306e\u91cf\u306f<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u904e\u53bb50\u5e74\u3067\u6700\u9ad8\u6c34\u6e96<\/span><\/b>\u306b\u9054\u3057\u3066\u304a\u308a\u3001\u3053\u306e\u9700\u8981\u304c\u4fa1\u683c\u306e\u5e95\u3092\u652f\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-shadow\"><div class=\"cap_box_ttl\"><span>\u4e2d\u592e\u9280\u884c\u306e\u91d1\u8cfc\u5165\u9700\u8981\u304c\u69cb\u9020\u7684\u306b\u7d9a\u304f\u80cc\u666f<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li>2022\u5e74\u4ee5\u964d\u306e\u8cfc\u5165\u91cf\u306f\u904e\u53bb50\u5e74\u3067\u6700\u9ad8\u6c34\u6e96\uff08WGC\u8abf\u3079\uff09<\/li>\n\n\n\n<li>\u4e3b\u306a\u8cfc\u5165\u56fd\uff1a\u4e2d\u56fd\u30fb\u30a4\u30f3\u30c9\u30fb\u30c8\u30eb\u30b3\u306a\u3069\u65b0\u8208\u56fd\u4e2d\u592e\u9280\u884c<\/li>\n\n\n\n<li>\u76ee\u7684\uff1a\u5916\u8ca8\u6e96\u5099\u306e\u30c9\u30eb\u4f9d\u5b58\u3092\u6e1b\u3089\u3059\u591a\u69d8\u5316\u6226\u7565<\/li>\n\n\n\n<li>\u4fa1\u683c\u4e0b\u843d\u5c40\u9762\u3067\u3082\u8cfc\u5165\u304c\u7d99\u7d9a\u3057\u3084\u3059\u304f\u3001\u4e0b\u5024\u3092\u652f\u3048\u308b\u5b89\u5b9a\u7684\u306a\u529b\u3068\u3057\u3066\u6a5f\u80fd<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u7279\u306b\u4e2d\u56fd\u30fb\u30a4\u30f3\u30c9\u30fb\u30c8\u30eb\u30b3\u306a\u3069\u306e\u65b0\u8208\u56fd\u4e2d\u592e\u9280\u884c\u304c<b><span class=\"swl-marker mark_yellow\">\u5916\u8ca8\u6e96\u5099\u306e\u591a\u69d8\u5316\u3092\u76ee\u7684\u3068\u3057\u3066<\/span><\/b>\u91d1\u306e\u4fdd\u6709\u6bd4\u7387\u3092\u5f15\u304d\u4e0a\u3052\u3066\u304a\u308a\u3001\u3053\u306e\u50be\u5411\u306f\u77ed\u671f\u9593\u3067\u53cd\u8ee2\u3057\u306b\u304f\u3044\u69cb\u9020\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u8cfc\u5165\u9700\u8981\u306f\u3001\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u58f2\u8cb7\u3068\u7570\u306a\u308a\u3001\u4fa1\u683c\u4e0b\u843d\u5c40\u9762\u3067\u3082\u7d99\u7d9a\u3059\u308b\u50be\u5411\u304c\u3042\u308b\u305f\u3081\u3001\u91d1\u4fa1\u683c\u306e\u4e0b\u5024\u3092\u652f\u3048\u308b\u5b89\u5b9a\u7684\u306a\u529b\u3068\u3057\u3066\u6a5f\u80fd\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306f\u4e88\u6e2c\u304c\u96e3\u3057\u3044\u6027\u8cea\u3092\u6301\u3064\u305f\u3081\u3001\u30ea\u30b9\u30af\u304c\u5f8c\u9000\u3057\u305f\u3068\u304d\u306b\u4fa1\u683c\u304c\u6025\u843d\u3059\u308b\u53ef\u80fd\u6027\u3082\u5ff5\u982d\u306b\u7f6e\u3044\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"gold-investment-methods\" class=\"wp-block-heading\">\u91d1ETF\u30fb\u7d14\u91d1\u7a4d\u7acb\u30fb\u91d1\u5730\u91d1\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4\u3068\u4f7f\u3044\u5206\u3051<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u3078\u306e\u6295\u8cc7\u624b\u6bb5\u306f\u5927\u304d\u304f<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u91d1ETF<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7d14\u91d1\u7a4d\u7acb<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u91d1\u5730\u91d1<\/span><\/b>\u306e3\u3064\u306b\u5206\u304b\u308c\u3066\u304a\u308a\u3001\u305d\u308c\u305e\u308c\u6d41\u52d5\u6027\u30fb\u30b3\u30b9\u30c8\u30fb\u4fdd\u7ba1\u30ea\u30b9\u30af\u306e\u9762\u3067\u7570\u306a\u308b\u7279\u5fb4\u3092\u6301\u3061\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1ETF\u306f\u8a3c\u5238\u53e3\u5ea7\u304b\u3089\u682a\u5f0f\u3068\u540c\u3058\u611f\u899a\u3067\u58f2\u8cb7\u3067\u304d\u3001\u5c11\u984d\u304b\u3089\u59cb\u3081\u3089\u308c\u308b\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fe1\u8a17\u5831\u916c\u304c\u5e740.1\u301c0.5%\u7a0b\u5ea6\u304b\u304b\u308a\u307e\u3059\u304c\u3001\u4fdd\u7ba1\u5834\u6240\u3092\u81ea\u5206\u3067\u7528\u610f\u3059\u308b\u5fc5\u8981\u304c\u306a\u304f\u3001\u58f2\u5374\u6642\u306e\u63db\u91d1\u30b9\u30d4\u30fc\u30c9\u3082\u901f\u3044\u305f\u3081\u3001<b><span class=\"swl-marker mark_yellow\">\u4fa1\u683c\u5909\u52d5\u306b\u6a5f\u52d5\u7684\u306b\u5bfe\u5fdc\u3057\u305f\u3044<\/span><\/b>\u5834\u5408\u306b\u5411\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d14\u91d1\u7a4d\u7acb\u306f\u6bce\u6708\u4e00\u5b9a\u984d\u3092\u81ea\u52d5\u7684\u306b\u7a4d\u307f\u7acb\u3066\u308b\u4ed5\u7d44\u307f\u3067\u3001\u4fa1\u683c\u304c\u9ad8\u3044\u3068\u304d\u306f\u5c11\u91cf\u3001\u5b89\u3044\u3068\u304d\u306f\u591a\u91cf\u3092\u8cfc\u5165\u3059\u308b<b>\u30c9\u30eb\u30b3\u30b9\u30c8\u5e73\u5747\u6cd5<\/b>\u306e\u52b9\u679c\u304c\u50cd\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u67081,000\u5186\u7a0b\u5ea6\u304b\u3089\u59cb\u3081\u3089\u308c\u308b\u5546\u54c1\u3082\u3042\u308a\u3001\u307e\u3068\u307e\u3063\u305f\u8cc7\u91d1\u304c\u306a\u3044\u6bb5\u968e\u3067\u3082\u91d1\u3078\u306e\u5206\u6563\u6295\u8cc7\u3092\u59cb\u3081\u3084\u3059\u3044\u624b\u6bb5\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5730\u91d1\uff08\u30b4\u30fc\u30eb\u30c9\u30d0\u30fc\uff09\u306f\u73fe\u7269\u3092\u76f4\u63a5\u4fdd\u6709\u3059\u308b\u305f\u3081\u3001\u91d1\u878d\u6a5f\u95a2\u304c\u7834\u7dbb\u3057\u3066\u3082\u4fa1\u5024\u304c\u30bc\u30ed\u306b\u306a\u3089\u306a\u3044\u70b9\u304c\u6700\u5927\u306e\u30e1\u30ea\u30c3\u30c8\u3067\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" data-cell1-fixed=\"sp\" class=\"wp-block-table min_width20_ is-all-centered\"><table style=\"--table-width:800px;--swl-cell1-width:;font-size:13px;\"><thead><tr><th>\u6295\u8cc7\u624b\u6bb5<\/th><th>\u6700\u4f4e\u6295\u8cc7\u984d<\/th><th>\u6d41\u52d5\u6027<\/th><th>\u4fdd\u7ba1\u30b3\u30b9\u30c8<\/th><th>\u5411\u3044\u3066\u3044\u308b\u4eba<\/th><\/tr><\/thead><tbody><tr><th>\u91d1ETF<\/th><td>\u6570\u767e\u5186\u301c<\/td><td>\u9ad8\u3044\uff08\u5e02\u5834\u6642\u9593\u5185\u306b\u58f2\u8cb7\u53ef\uff09<\/td><td>\u4fe1\u8a17\u5831\u916c0.1\u301c0.5%\/\u5e74<\/td><td>\u6a5f\u52d5\u7684\u306b\u58f2\u8cb7\u3057\u305f\u3044\u4eba<\/td><\/tr><tr><th>\u7d14\u91d1\u7a4d\u7acb<\/th><td>\u67081,000\u5186\u301c<\/td><td>\u4e2d\u7a0b\u5ea6<\/td><td>\u624b\u6570\u6599\u304c\u5225\u9014\u304b\u304b\u308b\u5834\u5408\u3042\u308a<\/td><td>\u5c11\u984d\u304b\u3089\u9577\u671f\u7a4d\u7acb\u3057\u305f\u3044\u521d\u5fc3\u8005<\/td><\/tr><tr><th>\u91d1\u5730\u91d1<\/th><td>\u6570\u5341\u4e07\u5186\u301c<\/td><td>\u4f4e\u3044\uff08\u58f2\u5374\u306b\u6642\u9593\u304c\u304b\u304b\u308b\uff09<\/td><td>\u4fdd\u7ba1\u8cbb\u7528\u304c\u5225\u9014\u5fc5\u8981<\/td><td>\u307e\u3068\u307e\u3063\u305f\u8cc7\u91d1\u3067\u9577\u671f\u73fe\u7269\u4fdd\u6709\u3057\u305f\u3044\u4eba<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u8cfc\u5165\u6642\u306b\u30b9\u30d7\u30ec\u30c3\u30c9\uff08\u58f2\u5024\u3068\u8cb7\u5024\u306e\u5dee\uff09\u304c\u5927\u304d\u304f\u3001\u4fdd\u7ba1\u8cbb\u7528\u3082\u5225\u9014\u304b\u304b\u308b\u305f\u3081\u3001<b>\u6570\u5341\u4e07\u5186\u4ee5\u4e0a\u3092\u307e\u3068\u3081\u3066\u9577\u671f\u4fdd\u6709<\/b>\u3059\u308b\u5834\u9762\u306b\u5411\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u91d1\u5730\u91d1\u3092\u81ea\u5b85\u3067\u4fdd\u7ba1\u3059\u308b\u5834\u5408\u3001\u76d7\u96e3\u30ea\u30b9\u30af\u304c\u751f\u3058\u307e\u3059\u3002\u9280\u884c\u306e\u8cb8\u91d1\u5eab\u3084\u5c02\u9580\u696d\u8005\u306e\u4fdd\u7ba1\u30b5\u30fc\u30d3\u30b9\u3092\u5229\u7528\u3059\u308b\u3053\u3068\u3092\u691c\u8a0e\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3069\u306e\u624b\u6bb5\u304c\u9069\u5207\u304b\u306f\u4fdd\u6709\u76ee\u7684\u30fb\u6295\u8cc7\u91d1\u984d\u30fb\u63db\u91d1\u983b\u5ea6\u306b\u3088\u3063\u3066\u7570\u306a\u308b\u305f\u3081\u30013\u3064\u306e\u7279\u5fb4\u3092\u8e0f\u307e\u3048\u305f\u3046\u3048\u3067\u81ea\u5206\u306e\u72b6\u6cc1\u306b\u5408\u308f\u305b\u3066\u9078\u3073\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 id=\"gold-price-faq\" class=\"wp-block-heading\">\u91d1\u4fa1\u683c\u306b\u95a2\u3059\u308b\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306e\u52d5\u304d\u306b\u306f\u8907\u6570\u306e\u8981\u56e0\u304c\u7d61\u307f\u5408\u3046\u305f\u3081\u3001\u300c\u306a\u305c\u4e0a\u304c\u308b\u306e\u304b\u300d\u300c\u4eca\u304c\u58f2\u308a\u6642\u306a\u306e\u304b\u300d\u3068\u3044\u3063\u305f\u7591\u554f\u304c\u751f\u3058\u3084\u3059\u3044\u5206\u91ce\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u91d1\u4fa1\u683c\u306b\u95a2\u3059\u308b\u3088\u304f\u3042\u308b\u8cea\u554f5\u9078<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><a href=\"#gold-price-crisis\">\u6709\u4e8b\u306b\u306a\u308b\u3068\u306a\u305c\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u308a\u307e\u3059\u304b\uff1f<\/a><\/li>\n\n\n\n<li><a href=\"#gold-interest-rate\">\u91d1\u4fa1\u683c\u3068\u91d1\u5229\u306f\u306a\u305c\u9006\u306e\u52d5\u304d\u3092\u3057\u307e\u3059\u304b\uff1f<\/a><\/li>\n\n\n\n<li><a href=\"#yen-depreciation-sell\">\u5186\u5b89\u304c\u9032\u3080\u3068\u91d1\u3092\u58f2\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u306b\u306a\u308a\u307e\u3059\u304b\uff1f<\/a><\/li>\n\n\n\n<li><a href=\"#gold-price-outlook\">\u91d1\u4fa1\u683c\u306f\u3053\u308c\u4ee5\u4e0a\u4e0a\u304c\u308a\u307e\u3059\u304b\uff1f<\/a><\/li>\n\n\n\n<li><a href=\"#gold-investment-beginner\">\u91d1\u6295\u8cc7\u3092\u59cb\u3081\u308b\u306a\u3089\u3069\u306e\u65b9\u6cd5\u304c\u521d\u5fc3\u8005\u5411\u3051\u3067\u3059\u304b\uff1f<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7c73\u56fd\u91d1\u5229\u30fb\u70ba\u66ff\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af<\/span><\/b>\u3068\u3044\u3063\u305f\u8981\u56e0\u306f\u305d\u308c\u305e\u308c\u72ec\u7acb\u3057\u305f\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u6301\u3061\u306a\u304c\u3089\u3001\u540c\u6642\u306b\u9023\u52d5\u3059\u308b\u3053\u3068\u3082\u3042\u308b\u305f\u3081\u3001\u4e00\u3064\u3072\u3068\u3064\u306e\u95a2\u4fc2\u6027\u3092\u6574\u7406\u3057\u3066\u304a\u304f\u3053\u3068\u304c\u5224\u65ad\u306e\u7cbe\u5ea6\u3092\u9ad8\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ee5\u4e0b\u3067\u306f\u3001\u91d1\u4fa1\u683c\u306b\u95a2\u3057\u3066\u7279\u306b\u591a\u304f\u5bc4\u305b\u3089\u308c\u308b\u7591\u554f\u306b\u5bfe\u3057\u3001\u30e1\u30ab\u30cb\u30ba\u30e0\u3092\u8e0f\u307e\u3048\u3066\u9806\u306b\u56de\u7b54\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"gold-price-crisis\" class=\"wp-block-heading\">\u6709\u4e8b\u306b\u306a\u308b\u3068\u306a\u305c\u91d1\u4fa1\u683c\u306f\u4e0a\u304c\u308a\u307e\u3059\u304b\uff1f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6709\u4e8b\u306e\u969b\u306b\u91d1\u4fa1\u683c\u304c\u4e0a\u6607\u3059\u308b\u306e\u306f\u3001\u682a\u5f0f\u3084\u901a\u8ca8\u3068\u7570\u306a\u308a\u3001\u91d1\u304c<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7279\u5b9a\u306e\u56fd\u3084\u4f01\u696d\u306e\u4fe1\u7528\u306b\u4f9d\u5b58\u3057\u306a\u3044<\/span><\/b>\u8cc7\u7523\u3060\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6226\u4e89\u30fb\u91d1\u878d\u5371\u6a5f\u30fb\u5927\u898f\u6a21\u306a\u81ea\u7136\u707d\u5bb3\u304c\u8d77\u304d\u308b\u3068\u3001\u682a\u4fa1\u3084\u56fd\u50b5\u306e\u4fa1\u5024\u304c\u6025\u843d\u3059\u308b\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3046\u3057\u305f\u5c40\u9762\u3067\u6295\u8cc7\u5bb6\u306f\u640d\u5931\u3092\u6291\u3048\u308b\u305f\u3081\u306b\u3001\u4fa1\u5024\u304c\u6bc0\u640d\u3057\u306b\u304f\u3044\u91d1\u3078\u8cc7\u91d1\u3092\u79fb\u3059\u884c\u52d5\u3092\u53d6\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u52d5\u304d\u306f<b>\u300c\u5b89\u5168\u8cc7\u7523\u3078\u306e\u9003\u907f\u300d<\/b>\u3068\u547c\u3070\u308c\u3001\u9700\u8981\u304c\u96c6\u4e2d\u3059\u308b\u3053\u3068\u3067\u91d1\u4fa1\u683c\u304c\u62bc\u3057\u4e0a\u3052\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-inner\"><div class=\"cap_box_ttl\"><span>\u6709\u4e8b\u306b\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b2\u3064\u306e\u529b<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list is-style-check_list -list-under-dashed\">\n<li>\u5b89\u5168\u8cc7\u7523\u3078\u306e\u9003\u907f\uff1a\u682a\u30fb\u56fd\u50b5\u304b\u3089\u8cc7\u91d1\u304c\u96c6\u4e2d\u3057\u3001\u9700\u8981\u304c\u6025\u5897\u3059\u308b<\/li>\n\n\n\n<li>\u901a\u8ca8\u4fa1\u5024\u306e\u5e0c\u8584\u5316\uff1a\u8ca1\u653f\u51fa\u52d5\u30fb\u91d1\u878d\u7de9\u548c\u3067\u901a\u8ca8\u4f9b\u7d66\u91cf\u304c\u5897\u3048\u3001\u91d1\u306e\u5e0c\u5c11\u4fa1\u5024\u304c\u76f8\u5bfe\u7684\u306b\u9ad8\u307e\u308b<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u307e\u305f\u3001\u6709\u4e8b\u306f\u653f\u5e9c\u3084\u4e2d\u592e\u9280\u884c\u304c\u8ca1\u653f\u51fa\u52d5\u3084\u91d1\u878d\u7de9\u548c\u3092\u884c\u3046\u304d\u3063\u304b\u3051\u306b\u306a\u308a\u3084\u3059\u304f\u3001\u901a\u8ca8\u306e\u4f9b\u7d66\u91cf\u304c\u5897\u3048\u308b\u3053\u3068\u3067\u76f8\u5bfe\u7684\u306b<b><span class=\"swl-marker mark_yellow\">\u91d1\u306e\u5e0c\u5c11\u4fa1\u5024\u304c\u9ad8\u307e\u308b<\/span><\/b>\u52b9\u679c\u3082\u91cd\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6709\u4e8b\u306e\u898f\u6a21\u3084\u7d99\u7d9a\u671f\u9593\u304c\u5927\u304d\u3044\u307b\u3069\u3001\u3053\u306e\u9700\u8981\u96c6\u4e2d\u306e\u52b9\u679c\u306f\u9577\u304f\u7d9a\u304f\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u6709\u4e8b\u5c40\u9762\u3067\u306f\u300c\u5b89\u5168\u8cc7\u7523\u3078\u306e\u9003\u907f\u300d\u3068\u300c\u901a\u8ca8\u4fa1\u5024\u306e\u5e0c\u8584\u5316\u300d\u3068\u3044\u30462\u3064\u306e\u529b\u304c\u540c\u6642\u306b\u50cd\u304f\u305f\u3081\u3001\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u5e45\u304c\u901a\u5e38\u6642\u3088\u308a\u5927\u304d\u304f\u306a\u308a\u3084\u3059\u3044\u70b9\u3092\u899a\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"gold-interest-rate\" class=\"wp-block-heading\">\u91d1\u4fa1\u683c\u3068\u91d1\u5229\u306f\u306a\u305c\u9006\u306e\u52d5\u304d\u3092\u3057\u307e\u3059\u304b\uff1f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u306f\u4fdd\u6709\u3057\u3066\u3044\u3066\u3082<b>\u5229\u606f\u3084\u914d\u5f53\u3092\u751f\u307e\u306a\u3044<\/b>\u8cc7\u7523\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u305f\u3081\u3001\u91d1\u5229\u304c\u9ad8\u3044\u5c40\u9762\u3067\u306f\u56fd\u50b5\u3084\u9810\u91d1\u306a\u3069\u5229\u56de\u308a\u3092\u6301\u3064\u8cc7\u7523\u306e\u9b45\u529b\u304c\u76f8\u5bfe\u7684\u306b\u9ad8\u307e\u308a\u3001\u91d1\u304b\u3089\u8cc7\u91d1\u304c\u6d41\u51fa\u3057\u3066\u4fa1\u683c\u304c\u4e0b\u304c\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u9006\u306b\u91d1\u5229\u304c\u4f4e\u4e0b\u3059\u308b\u3068\u3001\u5229\u56de\u308a\u3092\u6301\u3064\u8cc7\u7523\u306e\u512a\u4f4d\u6027\u304c\u8584\u308c\u3001\u91d1\u306e\u76f8\u5bfe\u7684\u306a\u9b45\u529b\u304c\u56de\u5fa9\u3057\u3066\u8cc7\u91d1\u304c\u623b\u3063\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7279\u306b\u7c73\u56fd\u306e<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5b9f\u8cea\u91d1\u5229<\/span><\/b>\u3001\u3064\u307e\u308a\u30a4\u30f3\u30d5\u30ec\u7387\u3092\u5dee\u3057\u5f15\u3044\u305f\u5f8c\u306e\u5b9f\u8cea\u7684\u306a\u5229\u56de\u308a\u304c\u91d1\u4fa1\u683c\u3068\u306e\u9006\u76f8\u95a2\u3092\u5f37\u304f\u793a\u3059\u50be\u5411\u306b\u3042\u308b\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-shadow\"><div class=\"cap_box_ttl\"><span>\u5b9f\u8cea\u91d1\u5229\u3068\u91d1\u4fa1\u683c\u306e\u9006\u76f8\u95a2\u307e\u3068\u3081<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list\">\n<li><strong>\u5b9f\u8cea\u91d1\u5229\u4e0a\u6607<\/strong>\uff1a\u5229\u56de\u308a\u8cc7\u7523\u304c\u6709\u5229\u2192\u91d1\u304b\u3089\u8cc7\u91d1\u6d41\u51fa\u2192\u4fa1\u683c\u4e0b\u843d<\/li>\n\n\n\n<li><strong>\u5b9f\u8cea\u91d1\u5229\u4f4e\u4e0b\u30fb\u30de\u30a4\u30ca\u30b9\u570f<\/strong>\uff1a\u91d1\u4fdd\u6709\u30b3\u30b9\u30c8\u304c\u76f8\u5bfe\u7684\u306b\u4f4e\u4e0b\u2192\u8cc7\u91d1\u6d41\u5165\u2192\u4fa1\u683c\u4e0a\u6607<\/li>\n\n\n\n<li><strong>\u5b9f\u4f8b<\/strong>\uff1a2022\u5e74\u6025\u901f\u5229\u4e0a\u3052\u2192\u91d1\u4fa1\u683c\u4f38\u3073\u60a9\u307f\u30012023\u5e74\u4ee5\u964d\u5229\u4e0b\u3052\u89b3\u6e2c\u2192\u4fa1\u683c\u4e0a\u6607\u8ee2\u63db<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b9f\u8cea\u91d1\u5229\u304c<b><span class=\"swl-marker mark_yellow\">\u30de\u30a4\u30ca\u30b9\u570f\u306b\u5165\u308b\u3068<\/span><\/b>\u3001\u5229\u56de\u308a\u8cc7\u7523\u3092\u6301\u3064\u3088\u308a\u3082\u91d1\u3092\u4fdd\u6709\u3059\u308b\u65b9\u304c\u5b9f\u8cea\u7684\u306a\u640d\u5931\u3092\u6291\u3048\u3089\u308c\u308b\u3068\u3044\u3046\u5224\u65ad\u304c\u5e83\u304c\u308a\u3001\u91d1\u3078\u306e\u9700\u8981\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">FRB\u304c\u5229\u4e0a\u3052\u3092\u9032\u3081\u305f2022\u5e74\u306b\u91d1\u4fa1\u683c\u304c\u4f38\u3073\u60a9\u3093\u3060\u4e00\u65b9\u3001\u5229\u4e0b\u3052\u89b3\u6e2c\u304c\u5f37\u307e\u3063\u305f2023\u5e74\u4ee5\u964d\u306b\u4fa1\u683c\u304c\u4e0a\u6607\u306b\u8ee2\u3058\u305f\u306e\u306f\u3001\u3053\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u304c\u6a5f\u80fd\u3057\u305f\u5178\u578b\u7684\u306a\u4e8b\u4f8b\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"yen-depreciation-sell\" class=\"wp-block-heading\">\u5186\u5b89\u304c\u9032\u3080\u3068\u91d1\u3092\u58f2\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u306b\u306a\u308a\u307e\u3059\u304b\uff1f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5b89\u304c\u9032\u3093\u3067\u3044\u308b\u72b6\u6cc1\u304c\u3001\u5373\u5ea7\u306b\u91d1\u306e\u58f2\u308a\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u610f\u5473\u3059\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5efa\u3066\u91d1\u4fa1\u683c\u306f\u300c<b>\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u00d7\u30c9\u30eb\u5186\u30ec\u30fc\u30c8<\/b>\u300d\u3067\u6c7a\u307e\u308b\u305f\u3081\u3001\u5186\u5b89\u304c\u9032\u3081\u3070\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u304c\u6a2a\u3070\u3044\u3067\u3082\u5186\u5efa\u3066\u4fa1\u683c\u306f\u4e0a\u6607\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4e0a\u6607\u306f\u70ba\u66ff\u5dee\u76ca\u306b\u76f8\u5f53\u3059\u308b\u305f\u3081\u3001\u5186\u5b89\u5c40\u9762\u3067\u91d1\u3092\u58f2\u308b\u3068\u5186\u5efa\u3066\u3067\u306f\u9ad8\u5024\u3067\u306e\u58f2\u5374\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u58f2\u5374\u5f8c\u306b\u5186\u9ad8\u3078\u53cd\u8ee2\u3059\u308b\u3068\u3001\u6b21\u306b\u91d1\u3092\u8cb7\u3044\u76f4\u3059\u969b\u306e\u5186\u5efa\u3066\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u305f\u3081\u3001\u4fdd\u6709\u3092\u7d9a\u3051\u305f\u5834\u5408\u3088\u308a\u6709\u5229\u306b\u306a\u308b\u3068\u306f\u9650\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u58f2\u5374\u306e\u5224\u65ad\u306b\u5fc5\u8981\u306a\u306e\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u5186\u5b89\u304c\u4e00\u6642\u7684\u306a\u3082\u306e\u304b\u69cb\u9020\u7684\u306a\u3082\u306e\u304b<\/span><\/b>\u3068\u3044\u3046\u898b\u6975\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_announce wp-block-paragraph\">\u30c9\u30eb\u5efa\u3066\u91d1\u4fa1\u683c\u304c\u4e0b\u843d\u30c8\u30ec\u30f3\u30c9\u306b\u5165\u3063\u3066\u3044\u308b\u5c40\u9762\u3067\u306f\u3001\u5186\u5b89\u306b\u3088\u308b\u4fa1\u683c\u4e0b\u652f\u3048\u304c\u5931\u308f\u308c\u305f\u6642\u70b9\u3067\u5186\u5efa\u3066\u4fa1\u683c\u3082\u6025\u843d\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002\u5186\u5efa\u3066\u4fa1\u683c\u3060\u3051\u3092\u898b\u3066\u5224\u65ad\u3059\u308b\u3068\u3001\u4e0b\u843d\u5c40\u9762\u3078\u306e\u5bfe\u5fdc\u304c\u9045\u308c\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5186\u5efa\u3066\u4fa1\u683c\u3068\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u4e21\u65b9\u3092\u78ba\u8a8d\u3057\u305f\u3046\u3048\u3067\u3001\u70ba\u66ff\u8981\u56e0\u3068\u91d1\u305d\u306e\u3082\u306e\u306e\u4fa1\u683c\u5909\u52d5\u3092\u5206\u3051\u3066\u8003\u3048\u308b\u3088\u3046\u306b\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"gold-price-outlook\" class=\"wp-block-heading\">\u91d1\u4fa1\u683c\u306f\u3053\u308c\u4ee5\u4e0a\u4e0a\u304c\u308a\u307e\u3059\u304b\uff1f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u306e\u4eca\u5f8c\u3092\u65ad\u8a00\u3059\u308b\u3053\u3068\u306f\u3001\u3069\u306e\u5c02\u9580\u5bb6\u306b\u3082\u56f0\u96e3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2025\u5e74\u6642\u70b9\u3067\u306f\u3001<b>FRB\u306e\u5229\u4e0b\u3052\u65b9\u5411\u3078\u306e\u8ee2\u63db\u30fb\u5730\u653f\u5b66\u30ea\u30b9\u30af\u306e\u7d99\u7d9a\u30fb\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u5897\u52a0<\/b>\u3068\u3044\u30463\u3064\u306e\u4e0a\u6607\u8981\u56e0\u304c\u91cd\u306a\u3063\u3066\u304a\u308a\u3001\u4fa1\u683c\u3092\u652f\u3048\u308b\u69cb\u9020\u306f\u7dad\u6301\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u65b9\u3067\u3001\u7c73\u56fd\u7d4c\u6e08\u304c\u60f3\u5b9a\u4ee5\u4e0a\u306b\u5f37\u304f\u63a8\u79fb\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u304c\u518d\u71c3\u3057\u305f\u5834\u5408\u3001\u5229\u4e0a\u3052\u518d\u958b\u306e\u89b3\u6e2c\u304c\u5e83\u304c\u308a\u91d1\u4fa1\u683c\u306e\u62bc\u3057\u4e0b\u3052\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5730\u653f\u5b66\u30ea\u30b9\u30af\u304c\u6025\u901f\u306b\u5f8c\u9000\u3057\u305f\u5834\u5408\u3082\u3001\u5b89\u5168\u8cc7\u7523\u3078\u306e\u9700\u8981\u304c\u5265\u843d\u3057\u3066\u4fa1\u683c\u304c\u8abf\u6574\u5c40\u9762\u306b\u5165\u308b\u30b7\u30ca\u30ea\u30aa\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u6607\u304c\u7d9a\u304f\u53ef\u80fd\u6027\u3068\u4e0b\u843d\u306b\u8ee2\u3058\u308b\u6761\u4ef6\u306e\u4e21\u65b9\u304c\u73fe\u5b9f\u3068\u3057\u3066\u5b58\u5728\u3057\u3066\u304a\u308a\u3001\u300c\u5fc5\u305a\u4e0a\u304c\u308b\u300d\u300c\u3082\u3046\u5929\u4e95\u3060\u300d\u3068\u3044\u3046<b><span class=\"swl-marker mark_yellow\">\u4e00\u65b9\u7684\u306a\u898b\u65b9\u306f\u6839\u62e0\u306b\u4e4f\u3057\u3044\u50be\u5411\u306b\u3042\u308a\u307e\u3059<\/span><\/b>\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u6c34\u6e96\u3060\u3051\u3092\u898b\u3066\u5224\u65ad\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u91d1\u5229\u30fb\u70ba\u66ff\u30fb\u5730\u653f\u5b66\u306e\u52d5\u5411\u3092\u7d99\u7d9a\u7684\u306b\u78ba\u8a8d\u3057\u306a\u304c\u3089\u4fdd\u6709\u91cf\u3084\u58f2\u8cb7\u306e\u5224\u65ad\u3092\u884c\u3046\u3088\u3046\u306b\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"gold-investment-beginner\" class=\"wp-block-heading\">\u91d1\u6295\u8cc7\u3092\u59cb\u3081\u308b\u306a\u3089\u3069\u306e\u65b9\u6cd5\u304c\u521d\u5fc3\u8005\u5411\u3051\u3067\u3059\u304b\uff1f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u6295\u8cc7\u306e\u4e3b\u306a\u624b\u6bb5\u306f\u3001<b>\u7d14\u91d1\u7a4d\u7acb\u30fb\u91d1ETF\u30fb\u91d1\u5730\u91d1<\/b>\u306e3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u3046\u3061\u521d\u5fc3\u8005\u306b\u5411\u3044\u3066\u3044\u308b\u306e\u306f\u7d14\u91d1\u7a4d\u7acb\u304b\u91d1ETF\u3067\u3001\u7406\u7531\u306f\u305d\u308c\u305e\u308c\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d14\u91d1\u7a4d\u7acb\u306f\u6bce\u6708\u4e00\u5b9a\u984d\u3092\u81ea\u52d5\u7684\u306b\u7a4d\u307f\u7acb\u3066\u308b\u4ed5\u7d44\u307f\u3067\u3001\u4fa1\u683c\u304c\u9ad8\u3044\u3068\u304d\u306b\u5c11\u91cf\u3001\u5b89\u3044\u3068\u304d\u306b\u591a\u91cf\u3092\u8cfc\u5165\u3059\u308b<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30c9\u30eb\u30b3\u30b9\u30c8\u5e73\u5747\u6cd5<\/span><\/b>\u306e\u52b9\u679c\u304c\u81ea\u7136\u306b\u50cd\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u307e\u3068\u307e\u3063\u305f\u8cc7\u91d1\u304c\u306a\u304f\u3066\u3082<b>\u67081,000\u5186\u7a0b\u5ea6<\/b>\u304b\u3089\u59cb\u3081\u3089\u308c\u308b\u70b9\u3082\u3001\u6295\u8cc7\u521d\u5fc3\u8005\u306b\u3068\u3063\u3066\u53d6\u308a\u7d44\u307f\u3084\u3059\u3044\u8981\u7d20\u3067\u3059\u3002<\/p>\n\n\n\n<div class=\"swell-block-capbox cap_box is-style-onborder_ttl2\"><div class=\"cap_box_ttl\"><span>\u521d\u5fc3\u8005\u5411\u3051\u6295\u8cc7\u624b\u6bb5\u306e\u9078\u3073\u65b9<\/span><\/div><div class=\"cap_box_content\">\n<ul class=\"wp-block-list is-style-check_list -list-under-dashed\">\n<li>\u5c11\u984d\u304b\u3089\u59cb\u3081\u305f\u3044\u30fb\u624b\u9593\u3092\u304b\u3051\u305f\u304f\u306a\u3044 \u2192 <strong>\u7d14\u91d1\u7a4d\u7acb<\/strong>\uff08\u67081,000\u5186\u301c\u3001\u30c9\u30eb\u30b3\u30b9\u30c8\u5e73\u5747\u6cd5\u304c\u81ea\u52d5\u3067\u50cd\u304f\uff09<\/li>\n\n\n\n<li>\u8a3c\u5238\u53e3\u5ea7\u3092\u6301\u3063\u3066\u3044\u308b\u30fb\u58f2\u8cb7\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u81ea\u5206\u3067\u6c7a\u3081\u305f\u3044 \u2192 <strong>\u91d1ETF<\/strong>\uff08\u4fdd\u7ba1\u30b3\u30b9\u30c8\u4e0d\u8981\u3001\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u58f2\u8cb7\u53ef\uff09<\/li>\n\n\n\n<li>\u307e\u3068\u307e\u3063\u305f\u8cc7\u91d1\u3067\u73fe\u7269\u3092\u9577\u671f\u4fdd\u6709\u3057\u305f\u3044 \u2192 <strong>\u91d1\u5730\u91d1<\/strong>\uff08\u305f\u3060\u3057\u4fdd\u7ba1\u8cbb\u7528\u30fb\u624b\u6570\u6599\u306b\u6ce8\u610f\uff09<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1ETF\u306f\u8a3c\u5238\u53e3\u5ea7\u304c\u3042\u308c\u3070\u682a\u5f0f\u3068\u540c\u3058\u611f\u899a\u3067\u58f2\u8cb7\u3067\u304d\u3001<b><span class=\"swl-marker mark_yellow\">\u4fdd\u7ba1\u30b3\u30b9\u30c8\u304c\u304b\u304b\u3089\u306a\u3044<\/span><\/b>\u70b9\u304c\u5229\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u5909\u52d5\u3092\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u3067\u78ba\u8a8d\u3057\u306a\u304c\u3089\u58f2\u8cb7\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u81ea\u5206\u3067\u6c7a\u3081\u305f\u3044\u65b9\u306b\u5411\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u5730\u91d1\u306f\u7d14\u5ea6\u306e\u9ad8\u3044\u91d1\u305d\u306e\u3082\u306e\u3092\u73fe\u7269\u3067\u4fdd\u6709\u3067\u304d\u307e\u3059\u304c\u3001\u4fdd\u7ba1\u8cbb\u7528\u30fb\u8cfc\u5165\u6642\u306e\u624b\u6570\u6599\u30fb\u307e\u3068\u307e\u3063\u305f\u521d\u671f\u8cc7\u91d1\u304c\u5fc5\u8981\u306a\u305f\u3081\u3001\u521d\u5fc3\u8005\u304c\u6700\u521d\u306b\u9078\u3076\u624b\u6bb5\u3068\u3057\u3066\u306f\u30cf\u30fc\u30c9\u30eb\u304c\u9ad8\u3081\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"is-style-icon_point wp-block-paragraph\">\u5c11\u984d\u304b\u3089\u59cb\u3081\u305f\u3044\u5834\u5408\u306f\u7d14\u91d1\u7a4d\u7acb\u3001\u65e2\u306b\u8a3c\u5238\u53e3\u5ea7\u3092\u6301\u3063\u3066\u3044\u308b\u5834\u5408\u306f\u91d1ETF\u3092\u691c\u8a0e\u3059\u308b\u306e\u304c\u3001\u9078\u629e\u80a2\u3092\u7d5e\u308a\u8fbc\u3080\u969b\u306e\u76ee\u5b89\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 id=\"summary-gold-price-factors\" class=\"wp-block-heading\">\u307e\u3068\u3081\uff1a\u91d1\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u7406\u7531\u3092\u7406\u89e3\u3057\u3066\u4fdd\u6709\u30fb\u58f2\u8cb7\u306e\u5224\u65ad\u306b\u6d3b\u304b\u305d\u3046<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u4fa1\u683c\u3092\u52d5\u304b\u3059\u8981\u56e0\u306f\u3001<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u7c73\u56fd\u91d1\u5229<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u70ba\u66ff<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u5730\u653f\u5b66\u30ea\u30b9\u30af<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u30a4\u30f3\u30d5\u30ec<\/span><\/b>\u30fb<b><span class=\"swl-inline-color has-swl-deep-01-color\">\u4e2d\u592e\u9280\u884c\u306e\u8cfc\u5165\u52d5\u5411<\/span><\/b>\u306e5\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u3089\u304c\u5358\u72ec\u3067\u52d5\u304f\u3088\u308a\u3082\u3001<b><span class=\"swl-marker mark_yellow\">\u8907\u6570\u304c\u540c\u3058\u65b9\u5411\u3078\u91cd\u306a\u3063\u305f\u3068\u304d<\/span><\/b>\u306b\u4fa1\u683c\u5909\u52d5\u306e\u5e45\u304c\u5927\u304d\u304f\u306a\u308b\u70b9\u304c\u3001\u91d1\u5e02\u5834\u306e\u6700\u5927\u306e\u7279\u5fb4\u3068\u8a00\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<p 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