贝莱德建信理财副总经理刘睿：黄金短期需警惕高波动性 长期依然具备配置价值

Group 1 - The core viewpoint of the article emphasizes that "uncertainty" has become the norm in the current market environment, and the fundamental principles of multi-asset allocation remain unchanged [1] - Multi-asset allocation should focus on selecting assets or strategies that provide genuine diversification and ensure long-term value preservation and appreciation [1] - A clear methodological framework should be established, incorporating Strategic Asset Allocation (SAA) as a long-term anchor and Tactical Asset Allocation (TAA) for dynamic adjustments based on market conditions [1] Group 2 - Recent market attention on gold has significantly increased, with a 65% rise in 2025 and over 30% in January 2026 within a month, attracting retail investors, ETF funds, and physical purchases [2] - The rapid increase in gold prices has led to heightened market sentiment, which could result in panic selling during any potential corrections, as annual increases over 30% are rare [2] - Long-term, the allocation logic for gold remains solid due to structural support from factors such as de-globalization trends, a weakening dollar, and continuous accumulation by global central banks [2]