Core Viewpoint - The SPDR Gold Trust's holdings remain stable at 946.27 tons, while gold prices exhibit significant volatility, influenced by easing trade tensions and concerns over the Federal Reserve's independence [5]. Group 1: Current Holdings and Price Movements - As of April 28, the SPDR Gold Trust holds 946.27 tons of gold, unchanged from the previous trading day [5]. - On April 28, spot gold prices fluctuated, reaching a low of $3,267.86 per ounce and recovering to close at $3,344.11 per ounce, marking an increase of $26.39 or 0.80% [5]. Group 2: Market Influences - Easing trade tensions and reduced concerns over the Federal Reserve's independence are primary factors contributing to recent price corrections in gold [5]. - A decrease in long positions among hedge funds has been noted, with the latest CFTC data indicating that long positions in gold futures and options have dropped to a 14-month low [5][6]. Group 3: Technical Analysis - The technical indicators suggest that the gold market is in an overbought condition, with prices exceeding the 200-day moving average by over 25% [6]. - The Relative Strength Index (RSI) has declined but remains above the midpoint, indicating potential buying opportunities near the $3,260 support level [6]. Group 4: Future Outlook - Investors are closely monitoring developments in trade relations and the upcoming U.S. non-farm payroll report, as a significant deterioration in the labor market could prompt the Federal Reserve to act quickly [6]. - Despite short-term challenges, long-term factors supporting gold prices remain strong, including a reported increase of 12.75 tons in gold holdings by China in the first quarter and a 23.47-ton increase in domestic gold ETF holdings, reflecting a year-on-year growth of 327.73% [7].
黄金ETF持仓量报告解读（2025-4-29）金价市场情绪过热显著
Sou Hu Cai Jing·2025-04-29 04:27