黄金现货突破4700美元关口，黄金基金ETF（518800）涨超0.6%，近20日资金净流入超17亿元

Core Viewpoint - The price of spot gold has surpassed $4,700, with gold ETF (518800) rising over 0.6%, indicating strong demand for gold as a safe asset amid challenges to the dollar credit system and increasing geopolitical tensions [1] Group 1: Market Dynamics - Recent data shows a net inflow of over 1.7 billion yuan into gold funds over the past 20 days, reflecting growing investor interest [1] - The backdrop of excessive money supply and monetization of fiscal deficits is putting pressure on the dollar credit system, leading to a shift towards gold as a reserve asset [1] Group 2: Investment Outlook - The combination of a Federal Reserve rate cut cycle, increasing overseas uncertainties, and a global trend of de-dollarization is expected to support gold prices [1] - Mid to long-term, the price of gold is anticipated to rise, suggesting that investors may consider accumulating positions during price corrections [1] - Recommended investment options include direct investment in physical gold, tax-exempt gold ETF (518800), and gold stock ETF (517400) that covers the entire gold industry chain [1]