Doo Financial｜全球流动性拐点下，黄金还能否守护资产安全？

Core Viewpoint - The demand for safe-haven assets and stable returns is increasing as the global liquidity cycle approaches a turning point, highlighting the strategic importance of gold as a traditional risk-hedging tool [1]. Group 1: Gold's Valuation Logic - Gold's valuation is closely tied to liquidity conditions; in a loose monetary environment, its appeal is driven by ample funds and inflation hedging, while in tightening periods, gold may face short-term pressure but often sees renewed investment opportunities as real interest rates decline [3]. - The cyclical nature of gold makes it an essential component in multi-stage asset allocation, providing stability during tightening credit environments and liquidity instability [3]. Group 2: Geopolitical and Central Bank Factors - Geopolitical uncertainties and the increasing gold reserves held by global central banks provide long-term support for gold prices, reinforcing its role as a hedge against inflation and a stabilizing asset in investment portfolios [3]. Group 3: Investment Strategy - Investors are increasingly viewing gold as a critical direction for portfolio diversification to mitigate systemic risks associated with equities and bonds, especially in complex market conditions [5]. - The changing global liquidity environment has catalyzed a return to gold's defensive logic, offering a safety margin across cycles for investors seeking resilience in their asset allocations [5].