美联储内部分歧加大叠加换届悬念，黄金避险属性凸显，黄金ETF华夏（518850）涨1.31%

Core Viewpoint - The recent increase in gold prices has positively impacted gold-related ETFs, with significant movements observed in various funds following the Federal Reserve's decision to cut interest rates by 25 basis points and end balance sheet reduction, creating a favorable environment for precious metals [1] Group 1: Market Performance - As of 9:41 AM, the 华夏 Gold ETF (518850) rose by 1.31%, while the Gold Stock ETF (159562) increased by 1.17%. In contrast, the Nonferrous Metals ETF (516650) saw a decline of 0.34% [1] - The liquidity easing expectations have contributed to a rebound in precious metals, despite potential technical pullback pressures after surpassing the $3,700 mark [1] Group 2: Analyst Insights - Wang Yanqing, Chief Analyst of Precious Metals at CITIC Futures, noted that the current environment indicates a third round of a bull market for gold, with central bank gold purchases reshaping the long-term price center [1] - The report from the Gold Research Institute of Jinyafo suggests that while there may be short-term technical pressures, the overall trend remains bullish for gold [1] Group 3: Cost Efficiency - The management and custody fees for 华夏 Gold ETF (518850) and Gold Stock ETF (159562) are combined at 0.2%, which is among the lowest in similar products, enabling investors to participate in the gold market at a lower cost [1]