美联储独立性再受打击，现货黄金急升上扬，黄金ETF基金(159937)红盘震荡，连续4日获资金净流入

Core Viewpoint - The recent developments in the gold ETF market indicate a potential upward trend in gold prices, driven by changes in U.S. monetary policy and significant inflows into gold ETFs [1][2]. Group 1: Gold ETF Performance - As of August 25, 2025, the gold ETF fund has seen a cumulative increase of 12.79% over the past six months [1]. - The gold ETF fund has achieved an 82.61% net value increase over the past five years, ranking it among the top two comparable funds [3]. - The fund's year-to-date relative drawdown is 0.48% as of August 25, 2025 [5]. Group 2: Market Dynamics - Following President Trump's dismissal of a Federal Reserve official, the dollar index experienced a sharp decline, while spot gold prices surged by nearly $35 [1]. - The probability of a Federal Reserve rate cut in September has risen to over 90%, which is expected to create upward momentum for gold prices [2]. - The gold ETF fund has seen continuous net inflows over the past four days, totaling 137 million yuan, with a peak single-day inflow of approximately 99.54 million yuan [2]. Group 3: Fund Characteristics - The gold ETF fund has a management fee rate of 0.50% and a custody fee rate of 0.10% [6]. - The fund's tracking error over the past month is 0.002%, indicating high tracking precision compared to similar funds [6]. - The fund's Sharpe ratio over the past year is 2.32, reflecting its risk-adjusted return performance [4].