Core Viewpoint - The article highlights the recent surge in gold prices and the significant growth of gold ETFs in China, indicating a strong market interest in gold as a safe-haven asset amid economic uncertainties [1][6]. Group 1: Gold ETF Growth - The scale of gold ETFs in China has approached 160 billion yuan, with a cumulative increase of over 80 billion yuan this year [1][2]. - As of August 4, the gold ETF scale rose from 72.607 billion yuan at the end of last year to 157.246 billion yuan, an increase of 84.639 billion yuan, with net subscription exceeding 10 billion units [5]. Group 2: Recent Gold Price Trends - COMEX gold prices recently reached 3,438.9 USD per ounce, surpassing the 3,400 USD mark [3]. - In April, COMEX gold hit a historical high of 3,509.9 USD per ounce before entering a correction phase [5]. Group 3: Economic Factors Influencing Gold Prices - Recent weak economic data from the U.S. has led to a significant decline in the dollar and risk assets, with market expectations for interest rate cuts rising sharply [7]. - Key economic indicators, such as the U.S. non-farm payroll data and the ISM manufacturing index, have shown disappointing results, raising concerns about a potential recession [7]. Group 4: Future Outlook for Gold - Analysts suggest that the weakening independence of the Federal Reserve and rising deficit rates may further erode the credibility of the dollar and U.S. Treasury bonds, intensifying the trend of de-dollarization globally [8]. - Emerging market central banks, particularly in China and India, are expected to increase their gold asset allocations, which could enhance the upward potential for gold and gold stocks [8].