积极看多金价：宏观数据点评

Group 1: Market Overview - As of October 8, 2025, COMEX gold futures closed at $4,030 per ounce[2] - The current global economic recovery phase is marked by significant concerns regarding U.S. fiscal stability and political risks, enhancing gold's appeal as a safe-haven asset[3] - Central banks globally are increasing gold reserves to diversify foreign exchange holdings and hedge against dollar asset risks, providing strong support for gold prices[3] Group 2: Factors Driving Gold Prices - Increased market demand for safe-haven assets due to weak U.S. employment data and government shutdown risks[3] - The initiation of a rate-cutting cycle by the Federal Reserve, with a 50 basis point cut in September, is expected to weaken the dollar and boost gold prices[3] - The European Central Bank's gold and receivables reached €1.13 trillion as of October 3, 2025, indicating strong central bank demand for gold[9] Group 3: Future Outlook and Investment Strategy - The long-term outlook for gold remains positive, driven by the restructuring of the dollar credit system amid high debt levels and inflation risks[4] - Short-term technical corrections may occur due to overbought conditions in the gold market, with potential pullbacks expected in Q4 2025[4] - Long-term investors are advised to include gold in their asset allocation for risk hedging, while short-term investors should monitor U.S. economic data closely and consider re-entering around the $3,500 support level[5]