全球最大黄金ETF持仓超1000吨 创三年新高

Core Viewpoint - The gold market has seen unprecedented confidence, with gold prices rising significantly and the largest gold ETF, SPDR, reaching a record holding of 1005.72 tons, marking a 43% increase this year [1][3]. Group 1: Gold ETF Holdings - SPDR's gold holdings have increased significantly in September, with notable additions of 18.9 tons on September 19, 6.01 tons on September 22, and 8.87 tons on September 26, surpassing 1000 tons [3]. - As of September 26, 2025, SPDR's gold holdings stood at 1005.72 tons, reflecting a net increase of 8.87 tons from the previous day [2]. Group 2: Market Drivers - The recent surge in gold prices is attributed to lower opportunity costs for holding gold due to declining yields on dollar assets, a weaker dollar, and heightened geopolitical tensions in the Middle East, which have increased market risk aversion [3]. - Analysts predict that gold prices will continue to experience upward momentum, supported by expectations of further interest rate cuts by the Federal Reserve and ongoing geopolitical risks [3]. Group 3: Gold Price Trends - Gold prices have risen by over 37% this year, with Shanghai gold ETFs seeing an increase of more than 45%, and gold stock ETFs rising over 77% [6]. - Deutsche Bank attributes the record high gold prices to investor panic and the perception of gold as a safe haven during times of uncertainty [7]. Group 4: Gold Stocks and Market Activity - The gold sector has outperformed other industry sectors with a year-to-date increase of 67.5%, with some stocks like Western Gold, Chao Hong Ji, and Zhaoshang Gold seeing gains exceeding 150% [9]. - Several shareholders have opted to take profits, leading to notable reductions in holdings, such as Schroders PLC's sale of 4.29 million shares of Shandong Gold [9][12].