Core Viewpoint - On November 20, COMEX gold futures experienced volatility, initially reaching $4,109 before dropping to $4,034 and then rebounding to around $4,068, indicating a lack of sustainable bullish factors in the market [1] Market Performance - As of November 19, the largest gold ETF, SPDR Gold Trust, saw an increase in holdings by 2.29 tons, bringing the total to 1,043.72 tons, ending a two-day outflow trend [1] - Gold-related ETFs showed mixed performance, with Huaxia Gold ETF (518850) down 0.53% and Gold Stock ETF (159562) down 0.66%, while Non-ferrous Metals ETF (516650) rose by 0.17% [1] Market Sentiment - Everbright Futures noted a decrease in market bets on a Federal Reserve rate cut in December, contributing to instability in U.S. stocks and subsequent fluctuations in gold prices [1] - The overall market sentiment suggests that gold prices may struggle to break free from high volatility and could trend weaker in the short term [1] Investment Strategy - Given the unclear future trajectory of gold prices, the recommendation is to adopt a wait-and-see approach or consider opportunistic buying on dips from an asset allocation perspective [1]
金价V型反转，市场静待非农数据及议息会议决议，黄金ETF华夏(518850)配置机遇备受关注
Sou Hu Cai Jing·2025-11-20 06:01