黄金收评丨金价持续回调，黄金股ETF（159562）涨2.03%

Core Viewpoint - The market sentiment has improved due to news regarding Sino-U.S. trade negotiations, leading to a rebound in the A-share market and a decline in gold prices [1] Group 1: Market Performance - The three major indices in the A-share market rose by over 1% [1] - COMEX gold futures prices fell below $4100 per ounce [1] - The performance of gold-related ETFs was mixed, with Huaxia Gold ETF (518850) down 0.47%, Gold Stock ETF (159562) up 2.03%, and Nonferrous Metals ETF (516650) up 2.58% [1] Group 2: Gold Price Trends - Spot gold prices have been fluctuating around the $4090 per ounce range, having retreated approximately 6% to 7% from the historical high in mid-October [1] - The current environment is characterized by geopolitical tensions easing, ongoing trade negotiations, profit-taking from safe-haven assets, and a strengthening U.S. dollar, all contributing to the gold price pullback [1] Group 3: Future Outlook on Gold - According to Shenwan Hongyuan analysis, the driving factors for gold prices are weakening, indicating a potential for high-level fluctuations and adjustments in the short term [1] - However, in the broader context, the ongoing deterioration of the U.S. fiscal deficit and debt situation, increasing global confrontations, and rising distrust in the current financial system are leading central banks to continue accumulating gold [1] - There is a growing recognition among investors of gold as a safe-haven asset and a store of value, reinforcing the narrative that gold is becoming the ultimate safe asset [1]