黄金市场短期迎调整，把握黄金ETF国泰（518800）、黄金股票ETF（517400）逢低布局机会

Core Viewpoint - The precious metals sector is experiencing significant adjustments, with COMEX gold prices dropping below 4500 due to market concerns over monetary policy tightening following the nomination of a new Federal Reserve chair who favors a "rate cut + balance sheet reduction" approach [1] Market Dynamics - Recent price surges in gold led to profit-taking, with London gold prices nearing 5600 USD/ounce, prompting CME to raise futures margin requirements, which further pressured short-term leveraged funds [1] - The market is currently sensitive to negative news, resulting in a sharp adjustment driven by emotional and trading structure responses [1] Future Outlook - In the short term, after the release of concentrated selling pressure, there may be a rebound and recovery window due to overselling [2] - Long-term expectations for Federal Reserve rate cuts remain stable, with CME FedWatch indicating a forecast of two rate cuts this year, suggesting that financial support for gold prices is intact [2] - Geopolitical tensions, including the situation in Iran, U.S. claims over Greenland, and the ongoing Russia-Ukraine conflict, continue to elevate risk and support demand for gold as a safe haven [2] - The logic supporting gold prices remains valid, driven by the "Federal Reserve rate cut cycle + increasing global uncertainty + trends of de-dollarization" [2] - Investors are encouraged to monitor investment opportunities in gold ETFs such as Guotai (518800) and gold stock ETFs (517400) [2]