谁给黄金插上了金融属性的翅膀？

Core Viewpoint - The recent surge in gold prices is primarily driven by expectations of interest rate cuts by the Federal Reserve, alongside the introduction of digital gold, which enhances the financial attributes of physical gold [1][2]. Group 1: Factors Influencing Gold Prices - The U.S. non-farm payroll numbers have consistently fallen short of expectations, leading to a strong likelihood of a 25 basis point rate cut this month, with speculation of two additional cuts to stabilize economic growth [1]. - Historical data indicates that gold prices typically rise by an average of 6% within 60 days following the start of a rate-cutting cycle in the U.S. [1]. - Concerns over the independence of the Federal Reserve, particularly in light of President Trump's criticisms, could further bolster gold's appeal as a safe-haven asset [1]. Group 2: Introduction of Digital Gold - The World Gold Council plans to pilot digital gold next year, utilizing 8,776 tons of gold stored in London as the underlying asset, leveraging blockchain technology to issue corresponding digital gold [2]. - The minimum trading unit for digital gold will be as low as 0.01 ounces (approximately 0.31 grams), with a transaction value of around $35, significantly lowering the investment threshold for ordinary investors [2]. - Digital gold will support 24/7 trading and reduce settlement time from the traditional "T+2" to real-time, cutting transaction costs by over 60% compared to physical gold [2]. Group 3: Comparison with Gold ETFs - Unlike gold ETFs, which are essentially securities linked to the price of physical gold and do not guarantee ownership of the metal, digital gold is directly tied to real gold stored in London, making it akin to a stablecoin in the gold sector [2][3]. - The price of digital gold is expected to respond more sensitively and accurately to market changes compared to gold ETFs, enhancing its hedging capabilities [3]. Group 4: Strategic Intentions of the World Gold Council - The introduction of digital gold aims to generate revenue through increased trading activity, as the smaller trading units and improved liquidity will attract a broader range of global investors [3]. - The initiative also seeks to revitalize the UK financial sector, particularly London, which historically was a global financial hub before being surpassed by Wall Street [3][4].