| 设置 画线 | | 除权 窗 区 信息 删自选 ● | | 黄金ETF基金 159937 | | 5日 | | --- | --- | --- | --- | --- | --- | --- | | 0: 6.262 MA60: 6.093 | | | | | | 601 | | | 8.010 | 8.140 | | 7. 364 +0.006 +0.082% | | | | | | | 载 | +0.71% | 189 | | | | | 7.812 | 5 | 7.368 | 1783 | | | | | 7.561 | 4 | 7.367 | 2620 | | | | | | 3 | 7.366 | 2028 | | | | | | 益 2 | 7.365 | 6528 | र्स | | | | 7.274 | | | 中则 | | | | | | | 7.364 | 246 | | | | | | | | 最/ | | | | | 6.982 | | 7.363 | 6156 现 | | | | | | 2 नि | 7.362 | 2366 中师 | | | | | | 3 | 7.361 ...

金价受避险情绪支撑小幅回弹！当下黄金的配置逻辑如何解读？阿汤哥正在实时分析，点击观看 订阅期货大宗商品趋势 +订阅 相关链接 黄金行情实时分析 ...

Group 1 - The recent rebound in gold prices is influenced by three main factors: dovish signals from the Federal Reserve, renewed trade tensions, and increased gold purchases by the People's Bank of China [1] - The Federal Reserve is expected to start cutting interest rates as early as September, with a total of two rate cuts anticipated by the end of the year [1] - The People's Bank of China has increased its gold reserves for eight consecutive months, with a notable addition of 70,000 ounces in June, bringing total reserves to 73.9 million ounces [1] Group 2 - China's central bank's strategy of increasing gold reserves is seen as a response to external financial shocks and aims to optimize the structure of foreign exchange reserves [2] - Gold is viewed as a non-sovereign credit reserve asset that can effectively hedge against risks associated with single currencies like the US dollar, especially in the context of trade wars and economic uncertainty [2] - Despite the continuous increase in gold reserves, China's holdings still lag behind those of developed economies, indicating potential for further accumulation of gold [2]

| | | 2025.01 | | 2025.02 | | 2025.03 | | 2025.04 | | 2025.05 | | 2025.06 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 项目 Item | | 亿美元 | 亿SDR | 亿美元 | 亿SDR | 亿美元 | 亿SDR | 亿美元 | 亿SDR | 亿美元 | 亿SDR | 亿美元 | 亿SDR | | | | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | 100million | | | | USD | SDR | USD | SDR | USD | SDR | USD | SDR | USD | SDR | USD | SDR | | . 外汇储备 | Forei ...

央视网消息：近期，黄金价格再次创出新高，继国际现货黄金价格首次突破2500美元/盎司整数关口 后，国际现货金价本周一度超过2530美元/盎司。当前，国际黄金现货虽已回落至2500美元/盎司下方。 但数据显示，今年以来，国际金价累计涨幅已超过20%。 上述背景下，年内黄金ETF吸引力大增。Wind数据显示，截至8月22日，5月以来包括广发上海金ETF、 工银黄金ETF、中银上海金ETF、嘉实上海金ETF、华安黄金ETF、建信上海金ETF等在内的多只ETF产 品份额呈现净增长态势。纳入统计的14只黄金ETF产品份额在此期间有10只区间基金份额增长超过 10%。其中，广发上海金ETF、工银黄金ETF两只ETF5月以来份额增长超过50%。 Wind数据显示，截至8月22日，5月以来包括广发上海金ETF、工银黄金ETF、中银上海金ETF、嘉实上 海金ETF、华安黄金ETF、建信上海金ETF等在内的多只ETF产品份额呈现净增长态势。纳入统计的14 只黄金ETF产品份额在此期间有10只区间基金份额增长超过10%。其中，广发上海金ETF、工银黄金 ETF两只ETF5月以来份额增长超过50%。 而世界黄金协会的数据显示，7月， ...

Group 1 - The core logic of the gold analysis framework is to hedge against the credit risk of the US dollar, indicating that gold may still have significant allocation value in the medium to long term [1] - The US dollar index has declined from a high of 109 at the beginning of the year to around 98 currently, reflecting a decrease in market confidence in the dollar [1] - Trump's policies have disrupted the internal checks and balances in the US, including his comments on the independence of the Federal Reserve and policies that may lead to fiscal expansion, which have increased overall uncertainty regarding the dollar's credit [1] Group 2 - The gold ETF tracks the spot gold (Au99.99 contract) launched by the Shanghai Gold Exchange, representing high-purity gold with a content of no less than 99.99% [1] - Unlike traditional stock indices, the gold contract does not involve stock selection or industry allocation, primarily serving physical gold delivery and investment hedging needs [1]

市场主流观点汇总 2025/7/1 报告说明 关 迪 此报告，意在客观反映行业内期货公司、证券公司对大宗商品各品种的 研究观点，追踪热点品种，分析市场投资情绪，总结投资驱动逻辑等。 本报告不构成个人投资建议，仅供公司内部使用，仅作参考之用。 报告中策略观点和投资逻辑是基于所采纳的机构当周公开发布的研究报 告，对于各期货品种的多空观点、交易逻辑进行整理加工汇总而成，收 盘价数据选择上周五，周度涨跌为上周五较前一周五收盘价变动幅度。 期货从业资格证号：F3036000 投资咨询从业资格证号：Z0016090 黄 恬 期货从业资格证号：F03100883 投资咨询从业资格证号：Z0021089 | 【行情数据】 | | | | | | | --- | --- | --- | --- | --- | --- | | 资产类别 | 细分品种 | 收盘价 | | 周度涨跌情况 | | | 数据时点 | | 2025/6/27 | | 2025/6/23 | 至 2025/6/27 | | | 焦炭 | 1421.50 | 焦炭 | | 2.67% | | | 铜 | 79920.00 | 铜 | | 2.47% | | ...

Core Insights - 70% of central banks are reluctant to invest in US dollars due to the political environment, a significant increase from 31% in 2024 [1] - 32% of central bank reserve managers plan to increase their gold allocation over the next 12 to 24 months, marking the highest proportion in at least five years [1]

黄金配置比 = (地缘风险指数 × 0.3 + 通胀率 × 0.5) ÷ 10 结语：黄金仍是动荡年代的"压舱石" 在美联储政策转向、地缘裂痕加深、去美元化加速的三重驱动下，2024年黄金极可能突破历史新高。但投资者需牢记： 当市场在"恐惧"与"贪婪"间摇摆时，黄金始终是照亮资产迷雾的永恒火炬。 示例：当地缘风险指数60、通胀率4%时，黄金占比≈(60×0.3+4×0.5)/10=2.2% 均线策略：当金价低于200日均线5%时加倍定投 波动率策略：黄金30日波动率＞20%时暂停买入 上海金溢价：2023年均值7美元/盎司，峰值达35美元 操作方式：境内买入现货→境外期货对冲 数字货币替代：若比特币ETF获批，或分流20%避险资金 央行抛售潮：全球外储黄金占比达15%，历史新高 技术突破：核聚变等新能源技术降低工业用金需求 基准情景：年均涨幅4-6%，突破2500美元 绿色科技冲击：氢能经济成熟可能削弱黄金工业属性 新货币体系：多极储备货币体系巩固黄金锚定地位 历史规律：美元指数每下跌1%，金价平均上涨0.8%（2000-2023年数据） 当前形势：美联储暂停加息，美元指数从114高位回落至105，支撑金价 ...

1、中国首款蜂群母舰无人机首飞在即，低空智能网联加速布局 2、金价强势大涨重回3 4 0 0美元，黄金中长期配置价值不改 2025.06.03 导读 ： 中国首款蜂群母舰无人机首飞在即；金价强势大涨重回3400美元 ； 解锁【第一财经智享会 员】实时解读市场动态，把握投资先机。 【第一财经智享会员专属】 【 今 日 速 读 】 精选行业研报，助您捕捉行业风口 【精选快读】 1 .中国首款蜂群母舰无人机首飞在即，低空智能网联加速布局 近日央视网报道，"九天"无人机0 4架机已完成机体结构装配，正在进行系统安装与测试等工作。预计今年 6月底完成无人机首飞任务。 值得关注的是，我国正加快低空经济网络设施建设。今年3月，国家发改委发布《关于2 0 2 4年国民经济和 社会发展计划执行情况与2 0 2 5年国民经济和社会发展计划草案的报告》提出，2 0 2 5年"出台促进低空经济 高质量发展的政策" "适度超前研究布局低空智能网联等基础设施" "推动低空装备研制应用"等具体部署。 工信部此前表示，将持续提升5G和千兆光网"双千兆"网络覆盖广度；加快推进6G技术研发、标准制定、 中试验证和产业落实，加强通信、感知、智能、 ...