全球黄金投资需求强劲

Group 1 - The World Gold Council's report indicates that global gold demand reached 1249 tons in Q2 2025, a 3% year-on-year increase, driven by high gold prices and increased investment demand [1] - Gold ETF investments significantly contributed to the total demand, with global inflows reaching 170 tons in Q2, and a total of 397 tons for the first half of the year, the highest since 2020 [1] - Investment in gold bars and coins also saw an 11% year-on-year increase, totaling 307 tons in Q2, with Chinese demand surging by 44% to 115 tons, marking the highest Q2 demand since 2013 [1] Group 2 - Central bank gold purchases remained high, with an increase of 166 tons in Q2, and the People's Bank of China has been increasing its gold reserves for nine consecutive months [2] - A significant majority of surveyed central banks expect to increase their gold reserves in the next 12 months, driven by geopolitical uncertainties and weakening confidence in the dollar [2] - China's gold reserves currently account for 7% of its official international reserves, which is below the global average of around 15%, indicating a potential need for further accumulation of gold [2] Group 3 - Gold is viewed as an irreplaceable asset for hedging against risks, inflation, and for long-term value retention, maintaining its appeal in the current economic climate [3] - The demand for gold is expected to remain strong in the second half of the year due to ongoing geopolitical and economic uncertainties, alongside potential interest rate cuts [3]