金价距高点回调近10%，关注黄金基金ETF（518800）回调布局机会，T+0交易

Group 1 - The core viewpoint of the articles indicates that gold prices have recently experienced a pullback of over 10% from their peak at the end of April, primarily due to a decline in risk aversion as the US and China have canceled 91% of tariffs, easing tensions and reducing risk premiums [1] - Despite the recent pullback, the medium to long-term outlook for gold remains positive, driven by significant increases in central bank gold purchases since 2020, which have remained high for three consecutive years, signaling positive sentiment to other gold buyers [1] - Geopolitical risks, such as ongoing Middle East conflicts and slow progress in Russia-Ukraine negotiations, may lead to a temporary increase in safe-haven demand for gold [1] Group 2 - The recent downgrade of the US sovereign credit rating by Moody's from Aaa to Aa1, following similar actions by other major rating agencies, raises concerns about the US sovereign bond market and challenges to the dollar's credit system amid excessive money supply and fiscal deficit monetization [1] - The trend of "de-dollarization" globally suggests that gold may emerge as a new pricing anchor, potentially enhancing the upward momentum for precious metals [1] - Investors are encouraged to consider accumulating gold ETFs (518800) and their corresponding funds during price pullbacks, as these funds invest in gold spot contracts and offer better liquidity and convenience compared to physical gold [2]