黄金已企稳，又迎新一轮上涨？

Core Viewpoint - The short-term fluctuations in gold prices do not alter the long-term bullish outlook, with ongoing economic uncertainties and geopolitical conflicts supporting gold as a favorable asset for investment [1] Group 1: Gold Price Movements - Domestic spot gold (Au9999) increased by 1.62% to 949.99 CNY per gram, while international spot gold in London rose by 0.50% to 4140.70 USD per ounce [1] Group 2: Federal Reserve Rate Cut Expectations - Federal Reserve Governor Milan advocates for a faster pace of rate cuts, suggesting a 50 basis point reduction, while San Francisco Fed President Daly emphasizes the need for an open discussion on further rate cuts due to potential demand decline in the U.S. economy [2] Group 3: Domestic Gold ETF Growth - The China Gold Association reported that domestic gold ETF holdings increased by 79.015 tons in the first three quarters of the year, marking a 164.03% year-on-year growth, with total holdings reaching 193.749 tons by the end of September, indicating strong institutional demand for gold [3]