黄金基金ETF（518800）收红，多空因素交织驱动金价抬升

Group 1 - The core viewpoint is that the expectation of interest rate cuts by the Federal Reserve is likely to support a strong performance in gold prices in the short term [1] - The medium to long-term outlook indicates that ongoing macroeconomic uncertainties abroad will enhance gold's safe-haven appeal, leading to a sustained increase in gold price levels [1] - The long-term trend suggests that the weakening of the US dollar's credibility since Trump's administration is becoming clearer, which will further highlight gold's monetary attributes and maintain a positive outlook for gold in the medium to long term [1] Group 2 - The gold ETF (518800) tracks the SGE gold 9999 (AU9999), reflecting the trading price changes of high-purity physical gold in the Shanghai Gold Exchange [1] - Investors without stock accounts can consider the Guotai Gold ETF Link A (000218) and Guotai Gold ETF Link C (004253) as alternative investment options [1]