黄金关键时刻，外资喊出4000美元

Core Viewpoint - The article discusses the ongoing bullish trend in gold prices, highlighting the increasing interest from younger investors, particularly those born in the 1990s, and the potential for gold prices to exceed $4,000 per ounce within the next twelve months due to various economic factors [1][2][4]. Group 1: Market Dynamics - Gold has emerged as a leading asset class globally since 2025, with a year-to-date price increase of 25% [1]. - Central banks worldwide are actively purchasing gold, with the European Central Bank reporting that gold has surpassed the euro to become the second-largest reserve asset after the US dollar [1][2]. - The recent fluctuations in gold prices are attributed to the release of favorable US non-farm payroll data, which caused a temporary decline in gold prices by 1% [2]. Group 2: Investor Demographics - Investors born in the 1990s now account for over 50% of gold investments, with Generation Z emerging as a significant force in the market [6][8]. - This demographic prefers "lightweight entry and flexible operation" investment strategies, with over 60% of transactions involving products like accumulated gold [8]. - The peak trading hours for this group are between 8 PM and 11 PM, aligning with their commuting and leisure times, indicating a trend towards "fragmented finance" [8]. Group 3: Economic Influences - The ongoing geopolitical tensions and inflationary pressures are fueling a "golden storm," with expectations that these factors will continue to support the gold bull market [1][5]. - Analysts suggest that the long-term annualized return on gold is approximately 8%, which aligns with global nominal GDP growth rates, indicating a robust investment opportunity [5]. - The strategic competition between the US and China is seen as a driving force behind the current gold bull market, with potential for extended duration and price increases beyond historical trends [4].