Invesco(US:IVZ) 智通财经网·2025-10-14 03:26Group 1 - The core viewpoint is that despite gold reaching historical highs and seemingly high prices, its upward trend may continue as it serves as a hedge against U.S. risks, with central banks expected to keep purchasing gold [1] - Gold price surge reflects strong performance and may signal rising systemic risks due to U.S. policy turmoil and economic slowdown, leading investors to view gold's rise as an indicator of increased risk [1] - The traditional macro drivers such as a weaker dollar and declining long-term yields have not materialized, making gold's price increase particularly noteworthy as it is a non-yielding asset [1] Group 2 - Gold prices have surpassed the historic threshold of $4,000 per ounce, positioning gold as one of the best-performing major assets for 2025, although some market participants remain cautious about the stability of the dollar [2] - Despite double-digit returns for gold in 2023 and 2024, investor participation through ETFs has been low, with actual holdings declining during this period [2] - The strong performance of gold in 2025 has begun to attract investors back to the market, with positive inflows into gold ETFs, which could become a significant driver for gold prices if the trend continues [2]