8月8日上午，美国纽约商品交易所黄金期货价格一度超过每盎司3534美元，突破历史高位。 国内金价也水涨船高。8日，中钞国鼎金条价格为每克816.00元，中国黄金投资金条价格为813.50元；价格相对较低的上海黄金交易所投资金条为每克 781.05元。截至8日中午12时，工行纸黄金价格每克超783元。 这波金价上涨的天花板在哪儿？投资者又该如何应对？ 多因素推动黄金价格冲高 中国（香港）金融衍生品投资研究院院长王红英在接受中新社国是直通车采访时表示，纽约黄金期货价格8日盘中一度突破历史高位，直接原因是市场普 遍预期美联储将启动降息周期。更深层次的原因在于美国7月经济数据疲软，就业市场增长乏力，制造业、服务业指标表现不佳，叠加美元指数弱势运 行，市场避险情绪升温，推动黄金价格持续上涨。 汇管信息研究院副院长赵庆明表示，过去十年，黄金价格上涨主要受三大因素驱动：全球宽松货币政策、地缘政治风险升温、央行购金行为。2009年后， 全球央行从黄金净卖出转为净买入，导致国际黄金市场供需格局改变，形成紧平衡状态，推高金价。 工信部信息通信经济专家委员会委员盘和林认为，美国关税政策调整与非农数据下滑，强化了市场对美联储降息的预 ...

Core Viewpoint - The article emphasizes the long-term bullish outlook for gold, driven by continuous money printing by central banks and the inherent value of gold as a hedge against inflation and currency devaluation [3][21][57]. Group 1: Historical Performance of Gold - From December 1990 to June 2025, gold prices increased from $388 to $3452.60 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 major drawdown, gold prices eventually reached new highs, indicating resilience in the long-term trend [8]. Group 2: Recent Trends in Gold Prices - From July 2015 to June 2025, gold prices rose by 228.76%, continuing an upward trend for 9.5 years [14]. - Since January 2024, gold prices have increased by 66.65%, from $2071.8 to $3452.60 [18]. - In 2024, gold prices rose by 27.39%, and in 2025, they have already increased by 30.81% [21]. Group 3: Factors Influencing Gold Prices - The relationship between the US dollar index and gold prices is often negative, with periods of both strong and weak correlation observed [22]. - Key factors affecting gold prices include Federal Reserve interest rate decisions, US debt creditworthiness, economic recession risks, trade wars, geopolitical tensions, and demand for gold in jewelry and industrial applications [24][26][29][30]. - Central banks globally are increasing their gold reserves, with notable purchases from countries like Poland and China [41][44]. Group 4: Market Dynamics and Future Outlook - The article discusses the potential impact of US debt ceiling negotiations on market stability and gold prices, highlighting the risks associated with political gridlock [38][40]. - The ongoing trend of central banks accumulating gold is expected to support long-term price increases, as seen in recent data showing significant purchases [41][46]. - The overall sentiment remains bullish for gold, with the expectation that even if short-term fluctuations occur, the long-term upward trajectory will prevail [57].