Group 1 - The core viewpoint is that the recent decline in the US dollar index, influenced by multiple factors, has strengthened the appeal of gold as an investment asset, particularly in the context of rising global uncertainties [4][3]. - The Shanghai Gold ETF (159830) has shown a significant performance, with a year-to-date increase of 27.04%, leading among all commodity gold ETFs in the market [3]. - Recent net inflows into the Shanghai Gold ETF reached 449 million yuan, indicating strong investor interest and positioning it as the top performer among various gold ETFs [3]. Group 2 - Factors contributing to the weakening of the US dollar include tariff policies that disrupt global order, rising concerns over US debt sustainability, and increasing inflation expectations [4]. - The outlook suggests that unless there is a significant policy shift from Trump, the trend of a weaker dollar may continue, making gold a favorable asset under these conditions [4]. - Despite fluctuations in gold prices, central banks globally, including China, are expected to continue purchasing gold, which will support long-term price increases [4].