摘要根据惠誉集团旗下的BMI的数据，西非国家黄金储备的数量和价值都在飙升，加纳的黄金储备总量 在2022年第二季度到2025年第一季度期间从8.7吨增长了255%，至31吨以上。今年早些时候，加纳与九 家矿业公司签署了一项协议，以伦敦金银市场协会(LBMA)价格1%的折扣直接购买其20%的黄金产量。 法国2025年7月官方储备资产升至3030.4亿欧元，其中黄金储备增加68.7亿欧元至2262.5亿欧元，外汇储 备增长9.3亿欧元至314.2亿欧元。 银行业巨头花旗集团本周一(8月4日)宣布，将未来三个月的黄金价格预期从6月的每盎司3300美元上调 至每盎司3500美元。花旗集团表示，2025年第二季度美国疲软的劳动力数据、对美联储及美国统计数据 机构可信度的担忧加剧，以及俄乌冲突引发的地缘政治风险升级，均为其上调黄金预期提供了支撑。 该行估计，自2022年年中以来，黄金总需求增长逾33%，这推动金价在今年第二季度几乎翻倍。 花旗分析师指出，尽管金价高企，但强劲的投资需求、各国央行持续的购金行为，以及韧性十足的珠宝 需求是推动金价上涨的重要因素。 这一乐观预期与该行六周前的预测大相径庭。在6月中旬发布的一份报 ...

Group 1 - HSBC has significantly raised its gold price forecast for 2025 from $3015 to $3215 per ounce, and for 2026 from $2915 to $3125, reflecting a 7.2% increase [1] - The bank attributes the long-term value of gold to the evolving global risk landscape and rising sovereign debt, noting that gold's role as a safe-haven asset increases during economic uncertainty and geopolitical tensions [1] - As of July 1, 2023, international gold prices are fluctuating around $3360 per ounce, with expectations that prices will range between $3100 and $3600 for the remainder of 2025, and a target price of $3175 by the end of 2025 [1] Group 2 - The report highlights a significant correlation between gold price movements and central bank purchasing behavior, indicating that if gold prices exceed $3300, central banks may slow their buying pace [2] - If gold prices retreat to around $3000, it could trigger a new wave of reserve asset allocation, while sustained prices above $3500 may lead to demand pressures in major consumer markets like India and China [2] - The market is closely monitoring U.S. policy developments, including potential tax reform and trade tensions, which could inject further uncertainty into the gold market [2]