黄金基金ETF（518800）回调超3%，黄金长期上行逻辑未改，回调或可布局

Group 1 - The core viewpoint is that while short-term uncertainties regarding tariffs exist, precious metals are expected to trend upwards in the long term due to factors such as the weakening of the dollar credit system and ongoing central bank gold purchases [1] - Short-term fluctuations in precious metal prices are influenced by rising risk aversion, but long-term demand for gold is supported by central banks, particularly as China's gold reserves are significantly below the global average [1] - The current environment of anticipated interest rate cuts, concerns about the U.S. economy, and the weakening dollar credit system are all favorable for precious metals [1] Group 2 - Investors are advised to avoid short-term high-risk investments and focus on the medium to long-term value of precious metals [1] - Recommended investment options include a gold ETF that directly invests in physical gold with a scale exceeding 26 billion and a gold stock ETF that covers the entire gold industry chain [1]