黄金拉升，首次站上3980美元关口

Core Viewpoint - The article highlights the recent surge in gold prices, with spot gold breaking the $3980 mark and New York futures reaching $4000 per ounce, driven by geopolitical tensions and expectations of U.S. Federal Reserve rate cuts [1][4][7]. Gold Price Trends - As of October 7, spot gold reached $3982.740, marking a 0.57% increase, while New York futures rose by 0.61% [1][2]. - The price of gold jewelry also increased, with prices for gold ornaments from various brands rising to approximately 1155-1157 RMB per gram, reflecting a daily increase of 16 RMB [7]. Central Bank Gold Reserves - The central bank has increased its gold reserves for the 11th consecutive month, with September's reserves reported at 74.06 million ounces, an increase of 40,000 ounces from the previous month [2][4]. - The pace of gold accumulation by the central bank has slowed, with September's increase being the lowest since November 2024, indicating a strategic balance between expanding reserves and controlling costs [4][5]. Future Outlook - Analysts predict that gold prices may continue to rise, with Goldman Sachs projecting a price of $4900 per ounce by the end of 2026, up from a previous estimate of $4300 [6][10]. - UBS has also expressed a bullish outlook, forecasting gold prices to reach $4200 per ounce by mid-2026, driven by factors such as a weaker dollar and increased central bank purchases [10]. Investment Strategy - The article suggests that gold serves as a crucial asset for diversification in international reserves, with a recommendation for investors to maintain a 5-10% allocation in gold within their portfolios for risk management [10].