ZFX山海证券：黄金三连涨！创下五周以来最高点！

Core Viewpoint - The recent surge in gold prices is attributed to multiple factors including a weakening dollar, geopolitical tensions, concerns over Federal Reserve independence, and an influx of safe-haven investments [1][5][7][8]. Group 1: Reasons for Gold Price Increase - The dollar has been continuously weakening, with the dollar index dropping 0.3% to 97.85 on August 28, marking the third consecutive day of decline [5]. - Israel's airstrikes on Houthi targets in Yemen have heightened geopolitical tensions, contributing to the demand for gold as a safe-haven asset [6]. - Concerns regarding the independence of the Federal Reserve have emerged following President Trump's attempts to dismiss a Fed governor, leading to fears of quicker and prolonged interest rate cuts, which are favorable for gold prices [7]. - There has been a slow inflow of funds into gold ETFs, indicating a growing risk-averse sentiment among global investors seeking alternatives to the dollar [8]. Group 2: Gold Price Forecast - As of August 29, 2025, the international spot gold price is reported at $3416.86 per ounce, with a recent upward trend observed [10]. - Market expectations suggest that the Federal Reserve will cut interest rates at least twice within the year, providing support for gold prices [10]. - Geopolitical risks in the Middle East continue to elevate market anxiety, further bolstering gold's appeal as a safe-haven asset [10]. - Long-term forecasts indicate that gold may maintain an upward trajectory, with target price ranges between $3100 and $3570 per ounce, supported by central bank purchases and a trend towards de-dollarization [10].