持续看好黄金投资机会！机构发声

Core Viewpoint - The continuous increase in gold reserves by central banks, particularly in emerging markets, indicates a growing emphasis on the value of gold as a reserve asset, providing medium to long-term support for gold investment value [2][4]. Group 1: Central Bank Gold Reserves - The People's Bank of China has increased its gold reserves to 73.9 million ounces (approximately 2298.55 tons), marking a month-on-month increase of 70,000 ounces and achieving eight consecutive months of growth [1]. - Since 2022, the average annual gold purchasing volume by global central banks has doubled compared to the previous decade, with emerging economies like Poland, Turkey, India, and China leading the charge [3]. Group 2: Market Dynamics and Gold Prices - The recent stabilization of global gold prices around $3,300 per ounce is attributed to reduced sensitivity to geopolitical tensions and trade negotiations, although the potential for increased volatility remains [5]. - The passage of the "Big and Beautiful" bill in the U.S. is expected to increase the national debt, putting pressure on the dollar and supporting gold prices [5][6]. Group 3: Future Outlook for Gold - A survey by the World Gold Council indicates that 95% of central banks expect to continue increasing their gold reserves in the next 12 months, the highest level since 2019, reflecting a 17 percentage point increase from the previous year [4]. - The need for central banks to optimize their international reserve structures suggests a continued trend of increasing gold reserves while potentially reducing U.S. Treasury holdings [4].