金荣中国：黄金震荡走势待上行

Group 1 - The core viewpoint is that gold prices are supported by ongoing geopolitical tensions and inflationary pressures due to U.S. tariffs, with expectations of a bullish trend in the gold market for the year [3][4] - The U.S. Trade Representative has announced the continuation of a 15% tariff, contributing to the support for gold prices [1] - The SPDR Gold Trust's holdings increased to 1,097.62 tons, marking a new high since February 2021, indicating strong institutional confidence in gold's long-term value [3] Group 2 - The market anticipates that the Federal Reserve will maintain interest rates until at least June, with a potential for only about 53 basis points of rate cuts this year, suggesting a prolonged bullish cycle for gold [3] - Despite a potential short-term consolidation in the spring, any declines are expected to be quickly offset by ongoing uncertainties, reinforcing gold's status as a safe-haven asset [3][4] - The outlook for gold remains positive, with expectations that prices could exceed $6,000 in the coming year due to continued geopolitical risks and a weaker dollar [3]