剧烈波动属“健康修正” 富国银行看高金价至6300美元

Group 1 - The core viewpoint is that individual investors are increasingly buying gold to hedge against global risks, with significant inflows into gold ETFs in January, reaching a historical monthly high of $19 billion, which has contributed to market volatility and potential short-term selling pressure [2] - Gold prices have shown a notable increase, with a 14% rise in January, and the total assets under management in gold ETFs reaching a record high of $669 billion, reflecting a 20% month-over-month increase [2] - The volatility in gold prices is exacerbated by the nature of ETF investments, which are more sensitive to market dynamics compared to physical demand, leading to tactical buying and selling behaviors among investors [2][3] Group 2 - Long-term demand for gold is expected to remain strong, as emerging central banks are likely to increase their gold holdings to diversify reserves, preventing a market downturn from becoming a bear market [3] - The recent price corrections in gold are viewed as healthy adjustments following significant price increases, with recommendations to buy on dips, and a revised year-end target price for gold set between $6,100 and $6,300, indicating at least a 20% potential increase from current levels [3] - Recent trading patterns show fluctuations in gold prices, with a notable drop to $4,988.6 before stabilizing and rebounding, suggesting potential for breaking out of current trading ranges, particularly with upcoming non-farm payroll data [4]