金价 重回4300美元/盎司

Core Viewpoint - International gold prices continue to show strong performance, with London spot gold surpassing $4,300 per ounce, supported by factors such as the Federal Reserve's interest rate cuts, ongoing geopolitical uncertainties, and central bank gold purchases [1][2]. Group 1: Gold Price Performance - As of December 15, 2023, London gold spot prices increased by 0.93%, reaching $4,339.95 per ounce [2]. - Goldman Sachs predicts that gold prices will reach $4,900 per ounce by the end of 2026, while UBS maintains a target of $4,500 per ounce for June 2026, and Bank of America has raised its target to $5,000 per ounce for the same year [4]. Group 2: Investment Trends - Global gold ETFs have seen significant inflows, with November alone adding $5.2 billion, marking the sixth consecutive month of inflows, despite a decrease compared to previous months [4]. - As of the end of November, the total size of gold ETFs reached $530 billion, reflecting a 5.4% increase for the month [4]. Group 3: Influencing Factors - Key factors influencing gold prices include the Federal Reserve's expected interest rate cut of 25 basis points, a decline in U.S. inflation data, and strong bullish sentiment among institutional investors, as evidenced by an increase in SPDR Gold ETF holdings [5]. - UBS views gold as an effective risk hedging tool, especially as the dollar weakens and geopolitical uncertainties persist, alongside strong central bank gold purchasing data and investment demand [5].