金价回调，买还是等？低波动环境或凸显黄金“每调买机”价值！

Core Viewpoint - COMEX gold prices are currently experiencing a pullback, fluctuating around $3,280 per ounce, while domestic stock and bond markets show low volatility, indicating a potential opportunity for gold investment due to its higher volatility compared to other assets [1]. Group 1: Market Analysis - The Shanghai Gold ETF (518600) has seen active trading, with daily transaction volumes exceeding 100 million yuan, and significant net inflows over the past three months, with shares increasing by 28.8 million, 4.5 million, and 1.314 million respectively [1]. - The 10-year government bond yield has maintained a daily fluctuation within 2 basis points, reflecting a stable macroeconomic environment [1]. Group 2: Investment Strategy - Short-term trading strategy suggests buying gold below $3,150 per ounce and reducing positions above $3,350 per ounce to capitalize on market fluctuations [1]. - Long-term investment outlook remains positive, anticipating a further upward trend in gold prices following the current period of adjustment [1]. Group 3: Product Features - The Shanghai Gold ETF and its associated funds (A class 008986, C class 008987, F class 021738) offer a convenient way to invest in gold without physical delivery, with T+0 trading flexibility and low fees [2][4]. - The ETF has no custody costs and a low minimum investment requirement compared to physical gold, enhancing liquidity with redemption funds available as quickly as T+1 [4].