鲍威尔释放鸽派言论，金价强势反弹，黄金基金ETF（518800）涨超1.6%，T+0交易

Group 1 - The core viewpoint of the articles highlights a significant decline in the U.S. Producer Price Index (PPI) for April, which unexpectedly dropped by 0.5%, with service prices falling by 0.7%, marking the largest monthly decrease since 2009 [1] - Federal Reserve Chairman Jerome Powell indicated that the Fed is adjusting its overall policy framework, suggesting that zero interest rates are no longer a fundamental condition, and there is a need to reconsider the language around labor market slack and average inflation rates [1] - The market anticipates a decrease in the Personal Consumption Expenditures (PCE) index to 2.2% for April, which is expected to weaken inflation expectations and support the outlook for interest rate cuts, consequently boosting gold prices [1] Group 2 - Following the PPI data, gold futures on COMEX rose by 1.74%, reaching $3243.90 per ounce, and the Shanghai Gold Exchange (SGE) saw a 1.7% increase in gold prices [1] - The gold fund ETF (518800) is noted for its investment in gold spot contracts, closely tracking gold price movements, and offering T+0 trading, which provides better liquidity compared to purchasing physical gold [1] - Citic Futures reported that the U.S. April Consumer Price Index (CPI) fell short of expectations, leading to increased market expectations for interest rate cuts, while uncertainties surrounding U.S.-China trade negotiations have driven some funds into safe-haven assets like gold [1]