博时基金王祥：受多重激励因素影响，国际金价升至4000美元上方

Group 1 - The core viewpoint of the articles highlights the surge in the precious metals market during the National Day holiday, driven by uncertainties in U.S. government operations and economic data, leading to increased investment in safe-haven assets [1][2][3] - Gold prices have reached new historical highs, with international gold prices surpassing $4000 and RMB gold prices exceeding 900 yuan per gram, indicating a strong bullish sentiment in the market [1][2] - The U.S. government shutdown has delayed the release of key economic data, such as non-farm payrolls and CPI, which has further impacted market confidence and reinforced expectations for potential interest rate cuts [1][3] Group 2 - The escalation of U.S.-China trade tensions, including China's restrictions on rare earth exports and Trump's threats of 100% tariffs on Chinese imports, has heightened market risk aversion [2] - The current macroeconomic environment, characterized by both risk aversion and monetary easing, has led to increased allocations to gold, as investors seek to capitalize on favorable conditions [2] - The mixed signals from Federal Reserve officials regarding interest rate cuts reflect ongoing uncertainty in the U.S. economic outlook, with some advocating for caution while others support further easing [3]