冲破3800美元大关，黄金创46年来最大涨幅 华尔街分析师：涨势还将继续

Core Viewpoint - The price of spot gold has reached a historic high of over $3,800 per ounce, driven by various factors including anticipated interest rate cuts by the Federal Reserve and rising geopolitical risks, leading to increased demand for safe-haven assets [1][4]. Group 1: Gold Market Performance - Spot gold has increased nearly 45% this year, outperforming all other major asset classes and marking the largest annual gain since 1979 [1]. - Spot silver also saw a rise of 2.26%, reaching $47.09 per ounce [1]. Group 2: Investment Trends - Global investors are increasingly buying gold, with $5.6 billion flowing into the gold market last week alone, and a record total of $17.6 billion over the past four weeks [4]. - Bank of America has issued a bullish rating on gold, indicating expectations for continued price increases despite warnings of an "overbought" status [4]. Group 3: Economic and Geopolitical Factors - Risks from the U.S. economy, including potential further interest rate cuts by the Federal Reserve, are seen as major drivers for rising gold prices [5]. - Concerns regarding the independence of the Federal Reserve and threats from the Trump administration have heightened worries about the stability of the dollar and U.S. Treasury markets [5]. Group 4: Central Bank Behavior - Central banks are increasing their gold reserves to reduce dependence on the dollar, with expectations that they will continue to purchase gold [4][5]. - Deutsche Bank has raised its gold price forecast for 2026 by $300 to $4,000 per ounce, reflecting a generally optimistic outlook among Wall Street investment banks [5].