聊聊现货黄金：多元化投资里的避险好选择

Core Viewpoint - The article emphasizes the increasing value of spot gold as a reliable hedge against inflation and market volatility, highlighting its recent price surge to a historical high of $4,442.22 per ounce, with a year-to-date increase of nearly 68% [1]. Comparison with Mainstream Assets - Spot gold offers distinct advantages over stocks, bonds, and foreign exchange, making it an effective tool for reducing overall portfolio risk. It is less influenced by individual company performance and market conditions compared to stocks, with an average annual return of 18.3% in RMB over the past five years, similar to the performance of the CSI 300 index but with significantly lower volatility [3]. - In comparison to bonds, which rely on fixed interest and can be difficult to liquidate, spot gold does not carry default risk and can be sold easily, especially during periods of declining interest rates. Current expectations of interest rate cuts by the Federal Reserve have led to spot gold outperforming ten-year Treasury yields [3]. - Spot gold is simpler for novice investors compared to foreign exchange, as it involves a single asset with clear price movement logic based on global economic and geopolitical conditions [4]. Key Factors Driving Gold Price Increase - The rise in spot gold prices is attributed to multiple favorable factors, with policy expectations being a primary driver. Market consensus anticipates two interest rate cuts by the Federal Reserve in 2026, enhancing the appeal of non-interest-bearing assets like gold [5]. - Increased geopolitical uncertainty, such as U.S. actions against Venezuela and the Ukraine conflict, has heightened market risk aversion, leading to greater demand for gold as a safe-haven asset. Additionally, ongoing purchases by central banks and rising investment in gold ETFs support long-term price increases [5]. Guidance for New Investors - New investors are advised to select reputable platforms for trading spot gold, focusing on regulatory qualifications, such as licenses from the UK FCA, Australian ASIC, or Hong Kong Gold Exchange AA class licenses. Verification of these licenses through official regulatory websites is crucial [6][7]. - Ensuring the safety of funds is essential, with a preference for platforms that separate client funds from operational funds and utilize third-party banks. Transparency in deposit and withdrawal processes is also important [7]. - The trading environment should be assessed by choosing platforms that use legitimate MT4/MT5 trading software, ensuring synchronization with international market prices and minimizing slippage. Clear disclosure of trading costs, including spreads and commissions, is necessary [7].