央行已连续六个月增持黄金

Core Viewpoint - The article discusses the recent fluctuations in international gold prices due to geopolitical tensions, tariff negotiations, and monetary policy changes, highlighting the Chinese central bank's continued gold purchases as a stabilizing factor in the market [1][3]. Group 1: Central Bank Actions - The People's Bank of China has increased its gold holdings for six consecutive months since November last year, purchasing 2.18 tons in April despite a monthly price increase of over 5% [1]. - The central bank's consistent gold purchases reflect a strategic response to changing global political and economic conditions, with gold's unique safe-haven function being a significant factor [3]. Group 2: Global Gold Demand - According to the World Gold Council, global gold demand reached 1206 tons in Q1 2025, a 1% increase from the same period in 2024, marking the highest level for Q1 since 2016 [3]. - Central banks bought 243.7 tons of gold, a 21% year-on-year decrease, while investment demand surged to 551.9 tons, a 170% increase [3]. Group 3: Market Analysis - The recent volatility in gold prices is attributed to market reactions to U.S. tariff policies and profit-taking after previous price increases, leading to a short-term focus on price fluctuations [4]. - Technical analysis indicates that while gold is in a weekly adjustment phase, the monthly outlook remains strong, with key support levels identified at $3200 and $3150 per ounce [4].