黄金基金ETF（518800）收涨超0.7%，特朗普征收200%关税引关注

Core Viewpoint - The recent announcement by President Trump regarding a 200% tariff on French wine and champagne has led to a significant increase in gold prices, with spot gold surpassing $4,700 per ounce, indicating a potential shift in market dynamics favoring gold as a safe-haven asset [1]. Market Analysis - On January 20, the gold ETF (518800) rose by over 0.7%, reflecting a positive market response to geopolitical developments [1]. - International gold prices experienced a substantial rally, with spot gold reaching a peak of $4,700 per ounce during trading [1]. Long-term Outlook - According to Ping An Securities, gold prices are expected to continue their upward trend due to unresolved U.S. debt issues and weakening dollar credibility, which are central to the ongoing market narrative [1]. - The demand for gold from central banks and investors is anticipated to grow, further supporting the bullish outlook for precious metals [1]. - The macroeconomic uncertainties abroad are likely to enhance gold's appeal as a safe-haven asset in the medium term [1]. Investment Strategy - Investors are encouraged to consider participating in gold investments during market pullbacks, with a focus on physical gold and tax-exempt gold ETFs (518800) as well as gold stock ETFs (517400) that cover the entire gold industry chain [1].