多重利好共同催化金价走强，黄金ETF华夏（518850）实现三连阳

Group 1 - The core viewpoint of the articles indicates that gold prices are experiencing a significant rebound due to multiple favorable factors, including weak non-farm employment data and rising expectations for interest rate cuts by the Federal Reserve [1][2][5] - The U.S. non-farm employment data for July showed an increase of only 73,000 jobs, significantly below the market expectation of 110,000, with prior months' figures revised down by a total of 258,000 jobs [2][5] - Following the employment data release, the market's expectation for a rate cut in September surged to 84.8%, with a projected total of two cuts within the year, each by 50 basis points [2][5] Group 2 - Internal policy disagreements within the Federal Reserve have intensified, as two members voted against maintaining the current interest rate, indicating a split in the committee regarding future monetary policy [3] - The resignation of Federal Reserve Board member Adriana Kugler creates a vacancy that President Trump may fill with a potential future chair, further influencing the Fed's direction [3] - The imposition of new tariffs by the Trump administration has increased global trade uncertainty, which is expected to drive up demand for safe-haven assets like gold [4][5] Group 3 - The ongoing geopolitical tensions in the Middle East and the breakdown of ceasefire negotiations in Gaza have further heightened short-term demand for safe-haven assets [5] - The market is currently pricing in a significant likelihood of a rate cut in October, with expectations that inflation data will influence the Fed's decisions moving forward [5] - The long-term outlook for gold remains positive, driven by persistent trade tensions, inflation risks, and the potential for a shift towards a more accommodative monetary policy by the Fed [5] Group 4 - The performance of gold-related ETFs has been strong, with the Huaxia Gold ETF (518850) rising by 0.35% and attracting 427 million in investments over the past week [1][7] - Gold stocks are expected to perform well, with the SSH Gold Stock Index showing a 38.01% increase, outperforming the 28.51% rise in London gold prices during the same period [7]