央行连续第13个月增持黄金，机构预测明年金价有望上涨30%，金ETF(159834)备受市场关注

Group 1 - The core viewpoint is that gold prices are expected to rise due to increased investment demand, particularly through gold ETFs, amid a backdrop of low inventory and expectations of monetary easing by the Federal Reserve [1][2]. - As of December 8, 2025, the gold ETF (159834) has seen a net inflow of 36.24 million yuan over the last 10 trading days, with a total transaction amount of 8.36 million yuan on December 9, 2025 [1]. - The People's Bank of China reported a gold reserve of 7.412 million ounces (approximately 2305.39 tons) as of the end of November 2025, marking a month-on-month increase of 30,000 ounces (approximately 0.93 tons) for the 13th consecutive month [1]. Group 2 - The World Gold Council's report indicates that gold has performed exceptionally well in 2025, with expectations for prices to rise by 15% to 30% in 2026 based on current levels [1]. - Global gold ETFs have attracted $77 billion in inflows this year, with an increase of over 700 tons in gold holdings [1]. - The recent rise in gold prices is attributed to heightened expectations of a rate cut by the Federal Reserve in December, alongside a restructured monetary credit landscape following the passage of significant fiscal legislation in the U.S. [2].