野村证券中国首席经济学家陆挺：去年涨50%前年涨30%！未来五年，黄金价格很难跌但持续大涨不太可能

Group 1 - The core viewpoint is that gold prices are expected to continue rising, but the growth rate will likely be lower than the previous years, which saw increases of 50% last year and 30% the year before [1] - The consensus in the international capital market has shifted regarding gold pricing, with a one-time adjustment occurring last year, indicating that while there is still room for adjustment, significant annual increases are challenging [1] - Investors are advised to track gold prices against a suitable benchmark, noting that the yield on U.S. Treasury bonds must be considered; currently, the 10-year bond yield is around 4.2% and the 30-year is about 4.8% [1]