黄金早参|金价首次站上4500美元，续创新高记录，机构看涨黄金成共识

Core Viewpoint - The article highlights the significant rise in gold futures prices, driven by escalating tensions in Venezuela and market expectations of further interest rate cuts by the Federal Reserve in the coming year [1] Group 1: Market Performance - On December 23, gold futures prices surged past the $4,500 mark, reaching a peak of $4,530, marking a new historical high [1] - As of the market close, COMEX gold futures increased by 1.02% to $4,515 per ounce, while the China Gold ETF (518850) rose by 1.41% and the Gold Stock ETF (159562) gained 1.15% [1] Group 2: Influencing Factors - The recent week saw heightened geopolitical tensions, particularly regarding Venezuela, which enhanced gold's appeal as a safe-haven asset [1] - The U.S. has intensified pressure on Venezuelan President Nicolás Maduro's government by blocking oil tankers, contributing to the geopolitical uncertainty [1] - Traders are betting on the Federal Reserve's continued rate cuts, creating a low-interest-rate environment that supports precious metal prices [1] Group 3: Future Outlook - There is a consensus among institutions that gold prices are expected to continue rising, despite differences in views on the extent, timing, and target price [1] - Structural demand from global central banks is viewed as a crucial and solid support for gold prices [1] - Cyclical benefits are anticipated as the market expects the Federal Reserve to lower rates, reducing the opportunity cost of holding gold [1] - Demand for gold is also driven by geopolitical uncertainties, concerns over the dollar's credibility, and the need for diversified asset allocation [1]