聚丰策略股市资讯|国际金价失守3200美元！黄金何时止跌企稳？

Core Viewpoint - International gold prices have declined due to increased optimism regarding trade agreements, which has alleviated deeper economic concerns, overshadowing the factors that typically boost safe-haven demand [1] Group 1: Gold Price Trends - As of the close, gold prices have dropped 9% from last month's high of $3,500 [3] - The three-month gold futures on the New York Mercantile Exchange fell below the $3,200 mark for the first time in a month [1] Group 2: ETF and Physical Demand - In April, global physical gold ETFs saw strong inflows of approximately $11 billion, bringing total assets under management to $379 billion by the end of the month [4] - Asia experienced a significant inflow of about $7.3 billion in April, marking a record high for the region [4] - China's gold ETF saw an increase of 49 billion yuan in April, the strongest month on record, with total assets and holdings reaching peak levels [4] - The Shanghai Futures Exchange reported a surge in gold futures trading volume in April, maintaining high levels into early May [4] Group 3: Central Bank and Economic Outlook - The People's Bank of China reported purchasing 2.2 tons of gold in April, increasing its reserves to 2,295 tons, which constitutes 6.8% of total reserves [4] - The average premium for gold in April was $37 per ounce, significantly higher than March's $2 per ounce, indicating improved wholesale gold demand [4] Group 4: Future Expectations - The International Gold Council anticipates moderate consumption of gold jewelry in China post-Labor Day, although recent price adjustments may support investment demand [5] - Analysts suggest that the recent adjustments in gold prices are primarily due to the easing of geopolitical tensions and the slowdown in ETF activities [6] - A Bank of America survey indicates that bullish positions on gold remain crowded as of early May [7] - Geopolitical risks have shown signs of easing, with recent developments in military conflicts and diplomatic discussions [8] - Long-term investment demand for gold is expected to remain strong due to persistent global economic and geopolitical risks [8]