渣打王昕杰：未来12个月金价有望重新回到3500美元/盎司，应避免“梭哈式”投资

Core Viewpoint - The article discusses the recent fluctuations in gold prices and the implications for investors, highlighting both short-term volatility and long-term bullish trends in the gold market [3][4][5]. Group 1: Gold Price Trends - Gold prices have seen significant increases over the past year, with spot gold surpassing $3,440 per ounce and approaching historical highs of $3,500 per ounce [3][4]. - In May, global physical gold ETFs experienced a net outflow of approximately $1.8 billion, marking the first monthly net outflow since November 2024 [3][5]. - Short-term price movements are expected to be volatile, with potential fluctuations between $3,200 and $3,300 per ounce, and a possibility of a pullback to $3,100 [6][8]. Group 2: Investment Strategies - Investors are advised to maintain a basic allocation of 5% in gold within their portfolios, with the option to increase this to 10% or 15% during market corrections [8][9]. - The recommendation is to avoid excessive concentration in gold investments and to adopt a dynamic approach to portfolio adjustments [8]. - For ordinary investors, it is suggested to prioritize standardized financial products like gold ETFs or gold funds due to their lower costs and operational convenience compared to physical gold [9].