黄金ETF（518880）跌幅0.51% 专家：黄金价格下行空间有限

Group 1 - The current price of the Gold ETF (518880) is 7.407 CNY, with a decline of 0.51% [1][2] - The trading volume shows a turnover rate of 3.13% and a transaction amount of 19.02 billion CNY [1][2] - Over the past 5 trading days, there has been a net inflow of 539 million CNY, and over the past 20 trading days, the net inflow is 1.908 billion CNY [1][2] Group 2 - Liu Yuhui, a chief economist, indicates that the current market is in the third wave of a bull market that began in 2019, driven by competition between China and the U.S. [1] - He suggests that after a potential agreement between China and the U.S., gold may experience a mid-term adjustment, but the long-term outlook remains positive [1] - The current bull market in gold may exceed the magnitude and duration of previous cycles, indicating that the current phase might just be the beginning [1] Group 3 - Yang Zhenhai from the World Gold Council states that gold prices are influenced by factors such as the scale of debt in Europe and the U.S., Federal Reserve policy expectations, and geopolitical risks [3] - He predicts that gold prices will likely experience wide fluctuations in the second half of 2025, but the downside potential is limited [3] - The acceleration of gold purchases by global central banks is expected to raise the yield center for gold, providing a stable long-term return source in a low-interest-rate environment [3] Group 4 - The Huaan Gold ETF (518880) was established on July 18, 2013, and aims to closely track the performance of gold spot prices [3] - Investors are encouraged to adopt a phased investment or dollar-cost averaging strategy when participating in investments through the Huaan Gold ETF and its linked funds [3]