华泰期货：沪金持续上涨，黄金或延续偏强格局

Core Viewpoint - Gold prices have shown strong performance, driven by increased geopolitical tensions leading to a rise in safe-haven demand, with the main contract for gold (Au2604) opening at 1063.00 CNY/g and closing at 1092.30 CNY/g, marking a 3.69% increase and surpassing the 1100 CNY/g threshold [2][7]. Geopolitical Factors - The surge in gold prices is primarily attributed to escalating geopolitical conflicts, including comments from U.S. President Trump regarding potential alternative measures if current tariff tools are limited, and the European Parliament's decision to freeze the approval process of a trade agreement with the U.S. [2][8]. - Trump's threats to impose tariffs on eight European countries until an agreement regarding the purchase of Greenland is reached have further intensified market concerns [8]. - Additionally, Canadian military officials have simulated a response to a hypothetical U.S. military invasion, marking a significant escalation in defense preparedness [8]. Market Outlook - Given the current market sentiment leaning towards risk aversion, demand for gold investments is expected to strengthen, with the Au2604 contract anticipated to fluctuate within a range of 1050 CNY/g to 1150 CNY/g in the near term [3][8].