GTC泽汇资本:金价重回高位区间

Core Viewpoint - The geopolitical tensions in the Western Hemisphere have led to a surge in risk aversion in global financial markets, driving strong demand for safe-haven assets like gold [1] Group 1: Gold Market Performance - Spot gold prices rose by 2.7% to $4,448.20 per ounce, reflecting the market's quick pricing ability in response to risk events [1] - In early 2026, the gold market demonstrated strong resilience near historical highs, with a record price of $4,549.71 per ounce achieved in 2025, marking an annual increase of over 60% [1] - Recent price recoveries indicate solid bottom support in the market despite previous profit-taking phases [1] Group 2: Geopolitical and Economic Implications - The direct actions taken in the region have disrupted the existing power balance, prompting investors to assess the long-term impacts on global energy supply chains and market stability in Latin America [1] - The geopolitical premium is expected to lead to a reassessment of risk weights for assets in the affected regions, particularly due to the large oil reserves and fragile supply conditions [1] - Any disturbances in this area could escalate into supply anxieties in the energy market, which may positively influence precious metals through inflation expectations [1] Group 3: Fundamental Drivers of Gold Strength - The strengthening of gold is supported by deeper fundamental drivers, including expectations for a shift to looser monetary policies in the second half of the year and ongoing increases in gold reserves by central banks worldwide [2] - Concerns over global economic slowdown are enhancing the long-term investment value of gold [2] - The combination of risk-averse buying and macroeconomic policy cycles is likely to push gold prices towards historical peaks, positioning it as a key asset for investors facing global uncertainties [2]