金价，再度飙上历史新高！相关ETF一年吸金1800亿，现在还能跟吗？

Core Viewpoint - International spot gold prices have surpassed $4,500 per ounce for the first time, marking a year-to-date increase of over 71%, setting a new historical record [1] Group 1: Gold Market Performance - The surge in gold prices is part of a broader rally in precious metals, with silver prices increasing over 90%, palladium nearly 80%, and platinum around 50% since August [1] - The increase in gold prices is primarily driven by anticipations surrounding the Federal Reserve's interest rate cuts, amplified by thin market liquidity towards the year-end [1] Group 2: Gold ETFs and Investment Trends - Domestic gold-themed exchange-traded funds (ETFs) have seen significant growth, with two main types: those tracking gold industry stocks and those tracking spot gold prices [1] - As of December 23, mainstream gold commodity ETFs have collectively risen over 62% this year, while gold stock ETFs have increased by more than 90% [2] - The total scale of all gold-related ETFs has grown by 177.1 billion yuan, reaching a total of 247.8 billion yuan, with six ETFs exceeding 10 billion yuan in scale [2] Group 3: Future Outlook and Demand - Analysts from JPMorgan predict that gold prices may have over 10% upside potential in the coming year, with global gold ETF net additions expected to reach approximately 250 tons in 2026 [3] - The current bull market in gold is characterized by its unique features, including the simultaneous rise of gold and risk assets like stocks, and gold outperforming traditional safe-haven assets such as U.S. Treasuries and the dollar [3] Group 4: Investment Strategies - Investors are advised to avoid heavy short-term investments in gold and maintain a rational allocation, suggesting a 5% to 10% allocation of household financial assets to gold as reasonable [4] - The focus should be on long-term trends rather than precise price predictions, as the underlying logic supporting gold remains intact amid global geopolitical changes and the trend of de-dollarization [4]