黄金突破3660美元，年内狂飙近40%、跑赢45年通胀，成全球最赚钱资产之一

Core Viewpoint - The article highlights the significant rise in gold prices, with spot gold surpassing $3,660 and COMEX gold breaking through $3,700, marking historical highs. The year-to-date increase in gold prices has reached 39%, making it one of the most profitable assets globally. [1][5][11] Group 1: Gold Price Performance - As of September 9, spot gold reached over $3,660, while COMEX gold hit $3,700, both setting new historical records [1] - Gold has seen a year-to-date increase of 39%, outperforming inflation-adjusted historical highs from January 1980 [5] - The average net asset value growth rate of 20 gold ETFs this year is approximately 46%, with some ETFs linked to gold stocks showing even higher growth rates [8][15] Group 2: Market Dynamics and Economic Indicators - Weakening U.S. economic data has been a catalyst for rising gold prices, with expectations of an interest rate cut by the Federal Reserve [10][11] - The U.S. labor statistics revealed a significant drop in non-farm employment, with the unemployment rate rising to 4.3%, further fueling market expectations for a rate cut [10] - The market consensus for a rate cut in September is nearly 100%, with a 92% probability of a 25 basis point cut [10][11] Group 3: Institutional Sentiment and Predictions - Goldman Sachs reports unprecedented bullish sentiment towards gold, with a ratio of 8:1 favoring bullish positions over bearish ones [12] - Predictions for gold prices include a baseline forecast of $4,000 per ounce by mid-2026, with potential scenarios reaching up to $5,000 per ounce [12][13] - UBS forecasts a 3% increase in global gold demand this year, reaching 4,760 tons, the highest level since 2011 [13] Group 4: Investment Trends and Fund Flows - The gold sector has attracted significant capital inflows, with a notable increase in the number of asset management products incorporating gold [16] - As of September 7, China's gold reserves increased to 7,402 million ounces, marking the tenth consecutive month of accumulation [16] - The second quarter of this year saw global gold demand reach 1,249 tons, a 3% year-on-year increase, driven largely by gold ETF investments [16][18]