美联储持续降息升温，金价冲高后震荡，黄金长牛趋势未改

Core Viewpoint - The gold price experienced significant fluctuations due to rising expectations of interest rate cuts by the Federal Reserve and ongoing political uncertainties, currently stabilizing above $3,600 per ounce, with a weekly increase of 0.75% to $3,680.7 per ounce [1] Group 1: Market Performance - As of the close of trading, the gold ETF Huaxia (518850) saw a weekly increase of 2.3% [1] - The gold stock ETF (159562) recorded a weekly rise of 4.7% [1] Group 2: Economic Indicators - Current U.S. economic data shows weakness, with a significant downward revision in non-farm employment numbers and no upward pressure on inflation [1] - The market has fully anticipated three interest rate cuts by the Federal Reserve within the year [1] Group 3: Geopolitical Factors - Ongoing geopolitical risks persist, with increasing intervention by the Trump administration affecting the independence of the Federal Reserve, contributing to market uncertainty [1] - These factors continue to provide sustained support for precious metals, maintaining the long-term bullish trend for gold [1]