Core Viewpoint - The article emphasizes the long-term bullish outlook for gold, driven by continuous money supply expansion and geopolitical tensions, particularly in the context of recent events in the Middle East and the historical performance of gold prices [3][57]. Price Performance of Gold - From December 19, 1990, to June 13, 2025, gold prices increased from $388 to $3,452.60 per ounce, representing a total increase of 789.85% over 34.51 years, with an annualized return of 6.54% [4]. - Gold experienced two significant drawdowns: a maximum drawdown of -39.12% from February 1996 to July 1999 and -44.36% from September 2011 to December 2015 [7][10]. - After each drawdown, gold prices eventually reached new highs, indicating resilience in the long-term trend [8]. Recent Trends in Gold Prices - From July 2015 to June 13, 2025, gold prices rose by 228.76%, continuing an upward trend for 9.5 years [14]. - Since January 1, 2024, gold prices have increased by 66.65%, from $2,071.80 to $3,452.60 [18]. - In 2024, gold prices rose by 27.39%, and in the current year, they have increased by 30.81% [21]. Factors Influencing Gold Prices - The relationship between the US dollar index and gold prices is often negative, with notable periods of divergence [22]. - Key factors affecting gold prices include: 1. Federal Reserve interest rate decisions, where rate cuts typically lead to a weaker dollar and stronger gold prices [24][25]. 2. US Treasury credit risk, where potential defaults may drive investors to gold as a safe haven [26]. 3. Economic recession in the US, prompting capital flight towards gold [27]. 4. Trade tensions, such as tariff wars, which can decrease dollar demand and increase gold purchases by central banks [28]. 5. Geopolitical events and wars, which heighten demand for gold as a stable asset [29]. 6. Industrial and jewelry demand, particularly from countries like India [30][31]. Central Bank Gold Purchases - Central banks globally, including the People's Bank of China, have been increasing their gold reserves, with notable purchases in early 2025 [41][44]. - Poland's central bank has emerged as a significant buyer, increasing its gold reserves by 12 tons in April 2025 [46]. Conclusion - The article concludes that gold is expected to maintain a long-term upward trajectory due to ongoing monetary expansion, despite short-term fluctuations [57].

投资黄金必看！黄金涨跌规律原来是这样的！ 最近黄金的热度，可不只是一天两天的事，随着黄金持续创下历史新高，几度冲上热搜，让不少投资者或者普通老百姓也为之"喜闻乐道"。 黄金这东西，有人为它喜，有人为它忧，它时而涨，时而跌，仿佛它的身后有无数的大手，一会儿将它推高，一会儿又将它抛下。 对于黄金价格来说，它的涨跌有长期规律和短期规律，十金缘小金认为，尽管金价的短期波动对于长期趋势的影响可能并不显著，但很多小伙伴们还是比较 重视黄金价格的短期规律。那么，黄金市场被人熟知的短期规律有哪些？ 01、美元指数下跌，黄金上涨 在主流的交易中，黄金是以美元为计价的。因此，美元和黄金具有负相关的关系。也就是说，美元成为衡量黄金价格的"尺子"，如果其他条件不变，而美元 升值，也就是所谓的"尺子"变大了，那么黄金价格就会下降，如果美元贬值，那么黄金价格就会上涨。 02、美联储降息，黄金上涨 在上周，黄金市场比较热门的话题就是：美联储降息预期升温，黄金价格得到支撑上涨。为什么呢？这是因为持有黄金不能带来利息收益，而美联储利率降 低，使持有黄金的成本降低，黄金成本降低，就会吸引更多买入黄金的投资者，从而推高了黄金价格。 和美元指数同样 ...