央行连续6个月增持黄金

Core Viewpoint - The article discusses the recent increase in China's foreign exchange reserves and the central bank's continued gold purchases, highlighting the impact of external economic factors and the volatility in gold prices [1][2][4]. Group 1: Foreign Exchange Reserves - As of the end of April, China's foreign exchange reserves reached approximately $32,817 billion, an increase of $41 billion from the end of March, representing a growth rate of 1.27% [2]. - The rise in foreign reserves is attributed to a significant drop in the US dollar index by about 4.4% due to the introduction of "reciprocal tariffs" by the Trump administration, which led to an increase in the value of non-dollar assets in China's reserves [2][1]. - The political bureau meeting emphasized the need to stabilize employment, enterprises, markets, and expectations in response to the rapidly changing external environment, with financial policies being implemented to support these goals [2]. Group 2: Gold Reserves - As of the end of April, China's gold reserves stood at 7,377 million ounces, marking an increase of 70,000 ounces, continuing a six-month trend of gold accumulation by the central bank [4][3]. - There are indications of structural changes in gold allocation, with more countries expected to increase their gold purchases, projected at around 1,000 tons by 2025 [4]. - Recent fluctuations in gold prices have been significant, with prices reaching a peak of $3,500 per ounce before falling to around $3,372.28 per ounce, indicating a volatile market environment [4][5]. Group 3: Investment Outlook - Experts warn that the current volatility in gold prices presents increased risks for investors, suggesting a conservative investment approach, especially for non-professional investors [5]. - The ongoing geopolitical uncertainties and tariffs are expected to provide support for gold prices, although short-term pressures may arise from potential Federal Reserve interest rate decisions [5].