黄金基金ETF（518800）昨日净流入超0.6亿元，机构称长期定价逻辑重构支撑金价

Group 1 - The core viewpoint of the article highlights that the recent inflow into gold ETFs indicates a growing interest in gold as a safe-haven asset amid economic uncertainties, particularly in light of the U.S. labor market data and Federal Reserve's interest rate expectations [1] - The gold ETF (518800) saw a net inflow of over 60 million yuan yesterday, reflecting investor confidence in gold amid fluctuating economic indicators [1] - Analysts suggest that while short-term gold prices may be affected by non-farm payroll data, the long-term outlook remains positive due to the ongoing interest rate cut cycle by the Federal Reserve [1] Group 2 - The article notes that the U.S. non-farm payrolls for June exceeded expectations, primarily driven by government job additions, while private sector growth remained weak, indicating underlying economic challenges [1] - The unemployment rate in the U.S. for June was reported at 4.1%, which is better than expected, and the ISM non-manufacturing index rose to 50.8, indicating a recovery above the threshold [1] - According to the CME FedWatch tool, there are expectations for two 25 basis point rate cuts by the Federal Reserve this year, with a 66.2% probability for a cut in September [1] Group 3 - The gold ETF tracks the spot gold price (Au99.99 contract) issued by the Shanghai Gold Exchange, representing physical gold with a purity of 99.99%, and is favored by commercial banks, insurance companies, and individual investors for its investment and hedging capabilities [1]