现货黄金小幅回调，黄金基金ETF（518800）连续10日净流入超75亿元，规模超290亿元，低位或可布局

Group 1 - The core viewpoint indicates that while gold may experience short-term pullbacks due to factors like the easing of the Russia-Ukraine conflict, the long-term fundamentals supporting precious metals remain unchanged [1] - Factors such as the onset of the Federal Reserve's interest rate cuts, challenges to the US dollar credit system, and the global trend of "de-dollarization" are expected to continue driving demand for gold [1] - Central banks are likely to maintain their gold purchasing trends, and ongoing geopolitical tensions, particularly between the US and China, contribute to market uncertainties [1] Group 2 - Potential buying interest may limit the extent of future pullbacks, suggesting that the price of gold is expected to trend upward in the medium to long term [1] - Investors are advised to consider participating in the market during subsequent pullbacks and to gradually accumulate positions [1] - The article highlights two specific gold-related investment options: a gold ETF directly investing in physical gold with a scale of nearly 30 billion yuan and a gold stock ETF covering the entire gold industry chain [1]