黄金股票ETF（517400）上涨1.2%，机构：长期看金价中枢预计持续抬升

Group 1 - The core viewpoint is that the expectation of a Federal Reserve interest rate cut in September has led to an increase in gold prices, driven by ongoing macroeconomic uncertainties and the enhanced safe-haven appeal of gold [1] - Federal Reserve Chairman Jerome Powell indicated at the Jackson Hole central bank meeting that the U.S. labor market is in an "unusual balance," which opens the possibility for a rate cut in September due to a slowdown in both labor supply and demand [1] - The market's rising expectations for a September rate cut are favorable for gold prices, although there is a caution against potential market reversals after the actual announcement [1] Group 2 - Long-term projections suggest that the central tendency of gold prices is expected to continue rising due to monetary expansion and the monetization of fiscal deficits, which challenge the U.S. dollar credit system [1] - The trend of global "de-dollarization" is likely to enhance the demand for gold as a safe asset, positioning it as a new pricing anchor [1] - The gold stock ETF (517400) tracks the SSH Gold Stock Index (931238), which selects 50 listed companies involved in gold mining, refining, and sales from A-share and Hong Kong markets, reflecting the overall performance of the gold industry [1]