降息“靴子落地”，金价冲高回落，黄金ETF基金(159937)今日开盘反弹上涨，机构：避险和滞胀两大长牛核心逻辑仍在

Group 1 - The core viewpoint is that despite a short-term technical correction in gold prices following the Fed's interest rate cut, the long-term upward trend remains intact due to ongoing geopolitical risks and central bank gold purchases [2][3]. - As of September 19, 2025, the gold ETF fund (159937) rose by 0.25%, with a recent price of 7.87 yuan, and a cumulative increase of 1.50% over the past two weeks [2]. - The trading volume for the gold ETF fund was 3.25 billion yuan, with a turnover rate of 1.17%, and an average daily transaction of 9.63 billion yuan over the past week, ranking it among the top two comparable funds [2]. Group 2 - Analysts suggest that the recent decline in gold prices is a result of profit-taking after the interest rate cut, but the decline is limited and does not alter the overall upward trend [3]. - Historical data indicates that during Fed rate cut cycles, gold typically experiences medium to long-term upward momentum, supported by ongoing geopolitical risks and the restructuring of the global monetary system [3]. - The latest financing buy-in amount for the gold ETF fund reached 83.87 million yuan, with a financing balance of 3.52 billion yuan, indicating continued interest from leveraged funds [3].