Group 1 - The World Gold Council reported that global gold ETF holdings increased by 115 tons to 3,561 tons in April, marking the fifth consecutive month of net inflows and the highest level since August 2022, driven by demand from Asia [1] - According to Wanguo Securities, the recent adjustment in gold spot prices is due to a recovery in global financial market risk appetite, necessitating the digestion of previous significant price increases and excessive pricing related to panic sentiment [1] - Long-term, the upward momentum for gold remains strong due to its effective risk diversification in uncertain environments, with recommendations for investors to buy on dips [1] Group 2 - The primary reason for the recent correction in precious metals is the progress in tariff negotiations between the US and several countries, leading to a decrease in market risk aversion [1] - However, expectations of stagflation in the US are rising, with one-year inflation expectations reaching 7.3%, alongside uncertainties in trade policies and anticipated interest rate cuts by the Federal Reserve (expected 3-4 cuts in the second half of the year), which will continue to support gold's long-term investment value [1] - The reshaping of global trade patterns and the long-term weakening of the US dollar also favor gold's safe-haven attributes [1] Group 3 - The gold ETF (code: 518800) tracks the gold spot (Au99.99 contract) index issued by the Shanghai Gold Exchange, representing the trading price of high-purity (99.99%) physical gold in China [1] - This index serves as a pure tracker of gold prices, directly linked to the physical gold market, reflecting real-time changes in gold spot market prices without involving component stocks or industry allocations, providing a transparent and efficient pricing reference system for investors [1]
黄金基金ETF（518800）昨日净流入0.71亿，短期调整不改长期配置价值
Mei Ri Jing Ji Xin Wen·2025-05-23 02:32