中证网讯 Wind数据显示，9月29日盘中，国际现货黄金价格再创历史新高，突破3800美元/盎司关口， 黄金ETF广受关注。 截至9月26日，黄金ETF基金（518660）近10个交易日累计"吸金（资金净流入）"8661万元，最新规模 为37.2亿元，最新份额为4.56亿份，较年初的基金份额增长率达167.75%。 黄金作为典型的非生息资产，其自身无法产生利息或股息收益，其投资收益主要来源于价格变动。较低 的管理费和托管费能有效减少持有成本，从而在长期投资中提升实际回报。费率上看，Wind数据显 示，黄金ETF基金（518660）当前管理费率、托管费率分别为0.15%、0.05%，为全市场费率最低一档的 黄金ETF。 对于黄金后市，天风证券表示，展望今明两年，黄金或仍有上涨空间。工银瑞信基金认为，当前金价整 体价格中枢或有向上抬升的趋势。美联储降息周期开启，加之全球地缘政治风险持续发酵，有望支撑金 价长期走强。此外，当前美联储独立性面临危机，通胀预期抬升以及滥发美债导致美元信用受损的背景 下，全球央行多元化的国际储备体系对黄金需求或仍将扩张。 黄金ETF基金（518660）还配置了场外联接基金（A：00814 ...

Wind数据显示，9月17日，隔夜市场COMEX黄金期货价格走强；与此同时，周二(9月16日)纽约时段， 现货黄金价格一举升破了3700美元/盎司大关，再创历史新高。相关ETF方面，黄金ETF基金（518660） 受关注。 此外，黄金ETF基金（518660）还配置了场外联接基金（A：008142；C：008143；E：020341），一键 配置黄金股相关投资机遇还可关注黄金股ETF基金（159315）。 消息面来看，据央视新闻，美联储定于9月16日至17日举行货币政策会议，外界普遍预期，美联储将在 本次会议上启动降息进程。 （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。） 资金流向方面，据Wind数据显示，截至9月16日，黄金ETF基金（518660）近5个交易日有3天获资金净 流入，"吸金"超8600万元；规模上看，黄金ETF基金（518660）最新流通规模为36.32亿元，最新流通份 额为4.53亿份，较年初的基金份额增长率达165.81%，在同为跟踪SGE黄金9999的7只同类黄金ETF中排 第一；费率上看，据Wind数据显示，黄金ETF基金（5186 ...

Central Bank Actions - The People's Bank of China has increased its gold reserves to 7.396 million ounces as of the end of July, marking a month-on-month increase of 60,000 ounces and continuing a trend of nine consecutive months of accumulation, aligning with a global central bank gold buying spree [3][5] - The World Gold Council reported that global central bank gold purchases in the first half of 2024 exceeded the ten-year average by 40%, highlighting the importance of central bank demand for gold [3] ETF Inflows - As of August 6, the lowest fee gold ETF (518660) saw a net inflow of 98 million yuan over five days, with a total market size of 3.59 billion yuan and a year-to-date share growth rate of 182%, making it a preferred choice for investors [7] - The World Gold Council forecasts that global gold demand will reach 1,249 tons by the second quarter of 2025, with ETF investments contributing 170 tons, and the first half of 2024 recorded the highest ETF demand since 2020 at 397 tons [7] Changing Price Expectations - Citibank, known for its bearish stance on gold, has revised its price forecast upward, increasing the three-month target price from $3,300 to $3,500 per ounce, with a trading range of $3,300 to $3,600 per ounce [9] - The shift in Citibank's outlook is attributed to increasing risks of "stagflation" in the U.S. economy, with July non-farm payrolls increasing by only 73,000 and the unemployment rate rising to 4.1%, leading to heightened expectations for aggressive rate cuts by the Federal Reserve [10] Market Sentiment and Risks - Standard Chartered maintains an optimistic view, predicting gold prices could reach $3,400 per ounce in the next three months and remain at $3,500 per ounce over the next 12 months [11] - However, there are concerns about short-term upward momentum for gold prices, with risks of overheating in the market, as noted by招商证券, which suggests focusing on structural opportunities rather than broad bets on rising gold prices [12][13] - Key risk factors identified include potential policy reversals by the Federal Reserve, technical overbought conditions, competition from alternative assets like Bitcoin, and the possibility of reduced geopolitical premiums due to easing trade tensions [13]

Group 1 - The current spot gold price has surpassed $3,370 per ounce, with active trading in SGE gold 9999 and significant attention on the lowest fee gold ETF fund (518660) [1] - The gold ETF fund (518660) has shown a notable "capital absorption" effect, with a net inflow of over 98 million yuan in the past five days, and a total circulation scale of 3.59 billion yuan as of August 6 [1] - Year-to-date, the gold ETF fund (518660) has experienced a share growth rate of 182%, ranking first among products tracking SGE gold 9999 [1] Group 2 - Huatai Futures indicates that the focus on precious metals is currently centered around expectations and timing of Federal Reserve interest rate cuts, which may provide strong support for gold prices [2] - Following the disappointing U.S. non-farm payroll data, there is a renewed market focus on U.S. economic performance data, which could accelerate the Fed's shift to a more accommodative monetary policy [2] - Long-term concerns regarding global debt and monetary policy may benefit gold, with the passage of the "Big and Beautiful" bill expected to increase the U.S. fiscal deficit by $3.4 trillion, positively impacting gold prices and enhancing profit expectations for gold resource stocks [2]