消息面上，国庆中秋长假期间（10月1日至10月8日），国际金价大幅度上涨。，国际贵金属市场迎来里 程碑式突破，10月7日，COMEX黄金价格一度触及4000美元/盎司整数大关，刷新历史纪录；10月8日， 贵金属延续强势行情，COMEX黄金期货价格盘中再度冲高至4081美元，伦敦黄金现货价格突破4059.3 美元/盎司，双双刷新历史新高。 受十一假期金价大涨再创历史新高带动，今日黄金相关ETF纷纷走强场内ETF方面，截至2025年10月9 日 09:58，上海金ETF(518600)上涨4.43%，实现3连涨。拉长时间看，该基金今年以来，累计上涨 40.79%。 资金流入方面，杠杆资金持续布局中。上海金ETF最新融资买入额达1832.66万元，最新融资余额达 594.03万元。拉长时间看，近4个交易日内，合计"吸金"1.04亿元。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 面对当前黄金涨势，机构纷纷唱多黄金，高盛最新将2026年12月金价预估上调至4900美元/盎司，先前 预估为4300美元。 此外，10月1日美国政府开始停摆，当前美国政府关门僵局仍在持续。虽然特朗普总统表态愿与民 ...

9月30日，现货黄金向上触及3850美元/盎司，续创历史新高，日内涨0.43%。相关ETF方面，上海金ETF （159830）现涨1.08%。 上海金ETF（159830）紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率 0.25%，基金托管费率为0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。该ETF还配置 了场外联接基金（联接A：014661，联接C：014662）。 消息面上，紫金矿业9月30日在港交所公告，香港联交所已批准紫金黄金国际股份于香港联交所主板上 市及买卖。 粤开证券指出，美联储重启降息周期对黄金市场形成利好。黄金作为无息资产，利率下降意味着其机会 成本下降，价格将会走高。当前国际地缘政治情况和未来经济政策的不确定性仍然较高，这种上升趋势 有望得到延续。美联储降息背景下，美元承压进一步支撑黄金表现，美元指数较年初已下降近10%，且 美国经济增长疲软可能使贬值趋势持续。此外，全球流动性宽松环境及地缘政治不确定性也为黄金提供 了避险需求支撑，黄金有望保持强势。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判 ...

Group 1 - The Shanghai Gold ETF (159830) has seen a strong performance, rising 1.29% with a trading volume exceeding 36 million yuan, and its latest circulation scale is 1.261 billion yuan, making it the largest in the Shenzhen market for similar products [1] - The Shanghai Gold ETF closely tracks the Shanghai Gold (SHAU.SGE) and has a management fee of 0.25% and a custody fee of 0.05%, both lower than the average for similar products, and supports T+0 trading [1] - The recent surge in international gold prices is attributed to multiple factors, primarily driven by the Federal Reserve's interest rate cuts, with COMEX gold futures reaching 3744.0 USD/oz and domestic gold contracts reporting a year-to-date increase of over 35% [2] Group 2 - The long-term upward trend in the precious metals market is supported by liquidity from the Federal Reserve's rate cuts, diversified gold purchasing demand from global central banks, and heightened risk aversion due to geopolitical conflicts [3] - Technical analysis indicates that New York gold has support around 3550 USD and may test levels near 3800 USD, suggesting that pullbacks present buying opportunities within a long-term bull market for gold and silver [3] - The IPO market for resource companies in Hong Kong has been active since 2025, with several companies, including Zijin Mining International, expected to boost valuations in the precious metals sector as gold prices continue to rise [2]

北京时间9月18日凌晨，全球金融市场将迎来本月重磅事件——美联储议息会议决议公布。在近期美国 就业数据疲软、通胀压力缓和的背景下，市场普遍预期美联储此次会议将开启新一轮降息周期，但就降 息幅度仍存意见分歧。 据芝加哥商品交易所（CME）"美联储观察"，美联储本次会议降息25个基点的概率高达95.9%，而降息 50个基点的概率仅为4.1%。市场同时预期，到10月份累计降息50个基点的概率达到73.8%，显示出市场 对持续宽松的强烈预期。 但值得注意的是，美国总统特朗普近日连续在社交平台发声，施压美联储应"大幅快速降息"，甚至明确 要求幅度应"超出预期"，这些言论为该次会议增添了更多政治不确定性。 值得注意的是，政治因素也在影响着市场预期。美国总统特朗普近日连续在社交平台发声并痛斥美联储 主席鲍威尔"毫无头绪"，要求"立刻大幅降息"。这些喊话不仅为会议增添了政治不确定性，更引发了全 球市场对美联储独立性的担忧。 同时，英国央行、日本央行和加拿大央行等全球主要央行也将在本周陆续公布利率决议，"超级央行 周"的整体决策将共同塑造未来数月全球金融市场的走向。 放眼未来，美联储的决策将对全球金融市场产生怎样的连锁反应？国 ...

北京时间9月18日凌晨，全球金融市场将迎来本月重磅事件——美联储议息会议决议公布。在近期美国 就业数据疲软、通胀压力缓和的背景下，市场普遍预期美联储此次会议将开启新一轮降息周期，但就降 息幅度仍存意见分歧。 据芝加哥商品交易所（CME）"美联储观察"，美联储本次会议降息25个基点的概率高达95.9%，而降息 50个基点的概率仅为4.1%。市场同时预期，到10月份累计降息50个基点的概率达到73.8%，显示出市场 对持续宽松的强烈预期。 但值得注意的是，美国总统特朗普近日连续在社交平台发声，施压美联储应"大幅快速降息"，甚至明确 要求幅度应"超出预期"，这些言论为该次会议增添了更多政治不确定性。 同时，英国央行、日本央行和加拿大央行等全球主要央行也将在本周陆续公布利率决议，"超级央行 周"的整体决策将共同塑造未来数月全球金融市场的走向。 放眼未来，美联储的决策将对全球金融市场产生怎样的连锁反应？国内股、债、汇等资产价格将如何变 动？全球资产配置格局会否发生重大调整？ 25基点还是50基点 在维持关键利率稳定9个月后，市场观点普遍认为，9月美联储降息"板上钉钉"。但围绕降息幅度的争论 却始终激烈：是谨慎的25个基 ...

8月7日上午，现货黄金向上触及3380美元/盎司，日内涨0.33%。 东海期货指出，随着关税扰动趋弱，贵金属市场短期缺乏驱动因素或将延续高位震荡格局，核心矛盾转 焦美国经济数据与政策路径的博弈。8月全球关税落地推升通胀预期，若CPI数据上行验证成本传导加 速，抗通胀逻辑有望再度支撑贵金属上行。此外，经济数据疲软尤其就业边际走弱或重塑9月降息预 期。中长期来看，贵金属配置价值不减，美债务风险与去美元化进程构成双向扰动，贵金属中长期支撑 逻辑坚实。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 上海金ETF（159830）紧密跟踪上海金（SHAU.SGE）；费率方面，上海金ETF（159830）管理费率 0.25%，基金托管费率为0.05%，均低于同标的产品平均水平，同时该ETF支持T+0交易。该ETF还配置 了场外联接基金（联接A：014661，联接C：014662）。 华泰期货表示，现阶段贵金属主线仍聚焦于美联储降息预期及节奏，多名美联储官员对于货币政策转向 宽松持开放态度，对于贵金属价格形成较强支撑。7月美国非农数据后市场关注美国经济成色数据，若 经济增 ...

相关ETF中，8月6日，上海金ETF（159830）截至发稿涨0.23%。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 东方金诚表示，美国二季度GDP数据中剔除净出口与库存波动的国内实际总需求仍显疲软，表明美国经 济增速正在放缓。同时，美国就业市场意外大幅降温，显著推升9月降息预期，加之本周公布的ISM服 务业指数中的就业分项数据仍将表现疲软，这将进一步强化市场降息预期，并对金价形成有力支撑。此 外，美联储理事库格勒的辞职为特朗普提名继任者提供了条件，这或将持续引发市场对美联储独立性的 担忧，同样有望助推金价上行。 东北证券指出，美国就业走弱是重要催化，但不是全部，就业走弱给了联储降息理由，后续或看到联储 官员发言倾向逐渐鸽派化，以及杰克逊霍尔会议上鲍威尔态度的变化，而降息的推进可能又加剧已经开 始反弹的通胀趋势，若降息+滞胀叙事顺利演绎，或带动金价开启新一轮上涨。 规模来看，据Wind数据，截至8月5日，深市最大上海金ETF（159830）最新规模14.67亿元。 资金流向来看，据Wind数据，该ETF已连续两日获资金净流入，累计"吸金"699万元。 ...

Group 1 - The Shanghai Gold ETF (159830) has shown a year-to-date increase of 24.29%, leading among similar products [1] - The ETF closely tracks Shanghai Gold (SHAU.SGE) and has lower management and custody fees compared to the average of similar products, with a management fee of 0.25% and a custody fee of 0.05% [1] - Citigroup has raised its gold price forecast for the next 0-3 months to $3,500 per ounce, up from $3,300 per ounce, and adjusted the expected price range to $3,300-$3,600 per ounce from $3,100-$3,500 per ounce [1] Group 2 - Ping An Securities indicates that short-term interest rate cut expectations are a core driver for gold prices, which are expected to remain strong [2] - The macroeconomic uncertainties abroad are expected to enhance gold's safe-haven attributes, leading to a sustained increase in gold price levels [2]

Market Overview - The three major indices in the A-share market collectively rose, with the Shanghai Composite Index increasing by 0.62%, the Shenzhen Component Index by 0.84%, and the ChiNext Index by 0.61% [1][4] - Several infrastructure ETFs saw significant gains, including the Infrastructure ETF (516950.SH) which rose by 6.99%, and the Infrastructure ETF (159619.SZ) which increased by 6.44% [1][11] ETF Performance - The A500 ETF market experienced a significant shift, with the net asset scale of the top 10 A500 ETFs decreasing from 10 to 9, and the China A500 ETF (560610.SH) shrinking from 12.45 billion to 8.734 billion [2] - Central Huijin Investment increased its holdings in major broad-based ETFs by over 200 billion in Q2, indicating a strong commitment to stabilizing the capital market [3] Sector Performance - In the sector performance, coal, building materials, and construction decoration sectors ranked highest, with daily increases of 6.18%, 4.49%, and 3.38% respectively [6] - Over the past five trading days, the building materials, coal, and steel sectors also showed strong performance, with increases of 11.46%, 9.15%, and 7.68% respectively [6] ETF Categories - Among different ETF categories, strategy ETFs performed the best with an average increase of 1.56%, while bond ETFs had the worst performance with an average decrease of 0.04% [9] - The top-performing ETFs included the Coal ETF (515220.SH) with an increase of 8.25%, the Building Materials ETF (159787.SZ) with 7.91%, and the Infrastructure ETF (516950.SH) with 6.99% [12][11] Trading Volume - The top three ETFs by trading volume were the CSI 300 ETF (510300.SH) with a trading volume of 4.517 billion, the STAR 50 ETF (588000.SH) with 4.086 billion, and the A500 ETF (512050.SH) with 4.057 billion [14][15]

Group 1 - The core viewpoint of the article highlights the significant rise in gold prices over the past few years, with a cumulative increase of approximately 13% in 2023 and nearly 30% in 2024, leading to a peak price around 3000 USD, which has doubled the cost basis for many investors, particularly the "Chinese aunties" who bought gold years ago [3][6][10] - The article discusses the historical context of gold price fluctuations, noting a bear market from late 2013 to late 2019, where prices ranged between 1045 USD and 1500 USD, and how the Federal Reserve's monetary policies, particularly during the COVID-19 pandemic, have influenced gold prices [7][8] - It emphasizes the dynamic relationship between U.S. inflation expectations and Federal Reserve monetary policy, indicating that a potential interest rate cut could further increase gold's attractiveness as an investment [8][9] Group 2 - The article outlines the strong demand for gold, driven by both consumer and central bank purchases, with central banks significantly increasing their gold reserves as a hedge against economic instability and currency depreciation [10][12] - It provides insights into the various channels for investing in gold, recommending gold ETFs as a preferred method due to their lower transaction costs, better liquidity, and reduced risk compared to physical gold or futures contracts [12][15][22] - The article compares traditional gold ETFs with Shanghai Gold ETFs, highlighting the latter's advantages in terms of tracking accuracy, lower costs, and broader investment options, making them a more attractive choice for investors [17][20][21]