黄金基金ETF（518800）上一交易日净流入近0.9亿，市场关注美元信用弱化与避险需求共振

Group 1 - The Ministry of Industry and Information Technology and eight other departments in China have jointly issued the "Implementation Plan for High-Quality Development of the Gold Industry (2025-2027)", aiming for a 5%-10% increase in gold resource volume and over 5% in production by 2027 [1] - The Myanmar Gold Traders Association held a seminar on June 29 to discuss key areas such as legal trading channels, domestic gold price mechanisms, and international trade [1] - China has maintained its position as the world's largest producer of mined gold for 18 consecutive years and the largest consumer for 12 years, highlighting the industry's foundational advantages [1] Group 2 - Ping An Securities noted that the long-term logic for gold remains intact, with weakening dollar credit expected due to U.S. fiscal issues and trade tensions under the Trump administration, which may further impact government credit [1] - Geopolitical issues abroad continue to drive demand for gold as a safe-haven asset, suggesting that gold prices may continue to rise [1] - Global central banks have continued their gold purchasing pace, with 243.7 tons bought in Q1 2025, providing support for gold prices [1] Group 3 - Current gold holdings are at a low level, with SPDR Gold ETF holdings not keeping pace with gold price increases, indicating significant upward potential [1] - In the silver market, a supply-demand gap is expected to persist throughout the year, and during a loose monetary cycle, the gold-silver ratio is likely to converge, suggesting that silver may enter a phase of catch-up [1]