智通财经网·2025-09-05 10:44Group 1 - The core viewpoint is that investors are testing their bets on the strong momentum of gold mining stocks ahead of the upcoming U.S. non-farm payroll report, with a notable shift in investment preferences due to economic uncertainties and interest rate expectations [1] - The VanEck Gold Miners ETF has seen significant inflows of $531 million in the last month, marking the highest record since November 2023, as investors are increasingly attracted to gold's safe-haven properties [1] - Gold mining stocks have outperformed the S&P 500 index, with the VanEck Gold Miners ETF rising approximately 90% year-to-date, and many of its constituent companies experiencing triple-digit gains [2][4] Group 2 - Analysts from JPMorgan expect that the Fed's interest rate cuts will attract more investors to commodity ETFs tracking gold, further driving up demand and prices [5] - There has been a notable acceleration in inflows into gold-related ETFs, with $3.9 billion purchased in the last week, marking the strongest single-week inflow since April [5] - Global central banks continue to buy gold, with their total holdings surpassing U.S. Treasury bonds, indicating a favorable environment for gold investments [9]