暴涨40%！金价创新高，还能“上车”么？

Core Viewpoint - The international gold price has been continuously rising, leading to a surge in the issuance of gold-linked wealth management products by various financial institutions, with a year-to-date increase of over 40% as of September 10, reaching a historical high of $3,650.75 per ounce [1][2]. Group 1: Market Dynamics - The rise in gold prices is driven by dual factors of investment demand and risk aversion, suggesting a long-term upward trend in gold prices [1][5]. - As of September 11, there are 48 existing wealth management products linked to gold, with 14 of these issued in the current year by wealth management subsidiaries of banks [2][3]. - The two main methods for banks to include gold in their wealth management products are through "fixed income+" products and structured products linked to gold derivatives [2]. Group 2: Investment Strategies - Wealth management companies are increasing their focus on gold to diversify asset allocation, as gold serves as a hedge against inflation and market volatility [3][5]. - The demand for gold-linked products is expected to rise as more wealth management subsidiaries explore "gold+" product strategies to cater to varying risk appetites among investors [5]. Group 3: Investor Sentiment - Investors are cautious about entering gold investments at current high prices, anticipating potential short-term fluctuations, but remain optimistic about gold's long-term value as a hedge [4]. - The financial attributes of gold are perceived to be increasing, with expectations of a long-term price rise due to factors such as anticipated interest rate cuts and ongoing geopolitical tensions [5].