金价突破3800美元创历史新高，三大因素筑牢上涨基础

Group 1 - International gold prices have reached a historical high, with COMEX gold futures surpassing $3800 per ounce on September 23, driven by Federal Reserve policy divergence and geopolitical risks [1] - The shift in the Federal Reserve's focus from "inflation control" to "balancing employment and inflation risks" is a core factor influencing gold prices, as indicated by Chairman Powell's recent statements [2][3] - Geopolitical tensions, particularly in the Middle East and Eastern Europe, continue to provide safe-haven support for gold, contributing to its price surge [4] Group 2 - Short-term fluctuations in gold prices are expected as investors react to market conditions, with a focus on the support levels between $3750 and $3780 per ounce [5] - The medium-term outlook for gold remains positive, supported by three key factors: the certainty of monetary policy easing, sustained demand from central banks, and a shift in asset allocation towards gold [6][7] - A strategic approach for investors is to maintain a 15%-20% allocation to gold, utilizing the $3750-$3780 range for adjustments, while monitoring support levels below $3700 [8]