等你来投！《清华金融评论》12月刊 “ 黄金投资逻辑：历史周期与趋势演变 ” 征稿启事

Core Viewpoint - The article emphasizes the increasing importance of gold as a safe-haven asset due to geopolitical tensions, declining dollar credibility, and central banks' increasing gold reserves, alongside a steady rise in industrial demand for gold driven by the rapid development of electronic and renewable energy industries [4][5]. Group 1: Current Market Dynamics - Geopolitical conflicts and the decline in dollar credibility have enhanced gold's role as a hedge against risk [4][5]. - Central banks globally have significantly increased their gold purchases, with a net total of 634 tons in the first three quarters of 2023, surpassing pre-2022 averages [4]. - As of the end of October, China's gold reserves reached 74.09 million ounces (approximately 2,304.457 tons), marking a continuous increase for 12 months [4]. Group 2: Investment Trends and Regulatory Changes - The domestic gold ETF holdings increased by 79.015 tons in the first three quarters of 2023, reaching a total of 193.749 tons by the end of September [5]. - A new tax policy announced by the Ministry of Finance and the State Taxation Administration categorizes gold transactions into "investment" and "non-investment" types, providing clearer guidelines for future trading [5]. Group 3: Research and Analysis Focus - The article outlines a call for papers on the investment logic of gold, focusing on historical cycles and trend evolution, with specific topics including the cyclical characteristics of gold prices, the impact of inflation and interest rates, and the comparison between gold and digital currencies [6]. - The submission deadline for the papers is set for November 18, 2025, with a word count recommendation of 4,000 to 6,000 words [10].