美元体系动摇？全球爆发“夺金战”，大量黄金流入纽约

Group 1 - The core viewpoint of the articles highlights a significant surge in global gold demand, driven by factors such as rising inflation fears, central bank purchases, and a weakening dollar, leading to a shift in gold's role from a safe-haven asset to a new monetary anchor [1][4][5] - In February, North America saw gold ETF inflows of approximately $6.8 billion, marking the largest monthly inflow since July 2020, while Asia, primarily driven by Chinese funds, contributed about $2.3 billion [1] - The New York Commodity Exchange (COMEX) has recently delisted several gold futures contracts, which has intensified market volatility and reflects changing trading dynamics [2][3] Group 2 - Over 600 tons of gold (approximately 20 million ounces) have been transported from London to New York since December 2024, indicating a significant shift in gold trading dynamics [3] - Analysts note that the price difference between COMEX futures and London spot gold has created arbitrage opportunities, further enhancing COMEX's influence on gold pricing [3] - Goldman Sachs has raised its gold price forecast for the end of 2025 from $3,100 to $3,300 per ounce, citing stronger-than-expected ETF inflows and ongoing central bank demand [4] Group 3 - Concerns over the sustainability of the U.S. dollar system, particularly due to rising U.S. debt levels, are prompting central banks to increase their gold reserves as a risk diversification strategy [5] - The demand for industrial gold is expected to rise by 7% year-on-year in 2024, driven by technological advancements, while investment demand for gold is projected to increase by 25% [6] - The expectation of interest rate cuts by the Federal Reserve has contributed to a decline in the dollar index, which historically has an inverse relationship with gold prices, further supporting gold's upward trajectory [6]