Core Viewpoint - The current market dynamics indicate a rising demand for gold as a safe-haven asset due to uncertainties surrounding U.S. Federal Reserve policies and geopolitical risks, alongside a trend of increasing gold ETF investments and central bank purchases [4][5][6]. Group 1: Market Performance - On August 28, the gold ETF (159937) rose by 0.2% with a turnover rate of 0.75% and a transaction amount of 213 million yuan [1]. - The spot gold price reached 3,390.35 USD/oz, with a peak of 3,399.29 USD and a low of 3,384.39 USD [4]. - COMEX gold futures were quoted at 3,444.9 USD/oz, reflecting a decline of 0.11% [4]. Group 2: Economic and Geopolitical Factors - Concerns over the independence of the Federal Reserve have increased following President Trump's attempt to dismiss a board member, which has heightened the demand for gold as a hedge against economic uncertainty [4]. - Ongoing geopolitical tensions, particularly in the Middle East, continue to elevate global supply chain security concerns, reinforcing gold's strategic value as a hard currency [4]. Group 3: Investment Trends - There is a notable trend of "de-dollarization" among global investors, who are seeking alternatives to the U.S. dollar, with gold serving as an effective hedge against dollar depreciation and declining real interest rates [5][6]. - Central banks are maintaining a growing demand for gold reserves, and gold ETF investments remain robust, providing solid support for gold prices [5]. - The current environment of policy uncertainty and geopolitical conflicts is driving dual demand for gold's inflation protection and safe-haven attributes [6]. Group 4: Technical Analysis and Investment Strategy - The gold price has found support around 3,200 USD, and if economic data confirms a slowdown in the U.S. economy, it may trigger a new upward momentum for gold [6]. - The investment focus is on the hedging demand arising from policy uncertainties and the long-term appreciation potential due to inflation resilience and monetary system restructuring [6]. - Gold's low correlation with equity assets makes it an important tool for portfolio diversification, especially in a high-volatility, low-growth market environment [6].
美联储政策不确定性升温,避险资金狂涌,黄金ETF基金(159937)“吸金”1.44亿
Xin Lang Cai Jing·2025-08-28 06:03