【UNforex财经事件】达里奥警示黄金大涨信号 货币价值变化重塑资产定价

Group 1 - The core message highlights that the recent rise in gold prices reflects deeper concerns about the weakening value of fiat currencies, rather than just short-term safe-haven demand [1][3] - Bridgewater's founder Ray Dalio emphasizes that the current environment of low interest rates and technology investment sentiment supports risk appetite, but discussions about the long-term impact of currency purchasing power on asset pricing are intensifying [1][2] - The comparison of asset performance using gold as a benchmark indicates that the actual returns of U.S. stocks in 2025 will be significantly weaker than what is presented in nominal terms, suggesting that evaluating asset performance solely based on nominal returns may obscure real risk exposure [1] Group 2 - The market is currently experiencing a structural differentiation in asset performance, influenced by policy expectations, economic data, and valuation factors, necessitating a greater focus on risk control and timing in investment allocation [2] - The upcoming U.S. non-farm payroll report is anticipated to be a crucial reference for assessing labor market resilience and the direction of interest rate policies, which could impact the performance of the dollar, precious metals, and overall risk asset pricing [2] - Both gold and stocks have benefited from the accommodative environment over the past year, but as price levels have significantly increased, their sensitivity to macro changes is also rising, indicating the need to pay attention to relative value relationships between assets [2][3]