legitplaytoearncryptogames| Gold ETF fund (159937) opened higher, institutions: long-term trend of gold prices remains upward

Today (May 27, 2024)legitplaytoearncryptogames, gold ETF fund (159937) opened higherlegitplaytoearncryptogames, now up 0legitplaytoearncryptogames.30%, with active on-site trading, with a turnover exceeding 23 million yuan. Data shows that the fund's latest scale exceeds 11.5 billion yuan, with a year-to-date return of nearly 15%. Last Friday, COMEX gold futures closed down 0legitplaytoearncryptogames.09%, at US$2,335.2 per ounce, down 3.4% weekly.

On the news front, last Friday, Federal Reserve Governor Waller said that the decline in neutral interest rates over time is likely to be caused by major changes in global demand for safe assets and may continue to rise.

On Thursday night, the U.S. composite PMI index released by S & P Worldwide showed that U.S. business activity accelerated at the fastest pace in two years, reflecting strong growth in service providers and a rebound in inflation.

After the data was released, market expectations for the Federal Reserve to cut interest rates continued to cool down. Looking forward to next week, the United States will release the latest core PCE price index annual and monthly rates for April on the evening of next Friday. This is the most important inflation indicator of the Federal Reserve and has a huge impact on the market.

Everbright Securities expects that the Federal Reserve's interest rate cut in the second half of the year will still be a high probability event. The short-term decline in nonferrous metals and gold prices is more a correction after expectations rush, and the long-term trend will remain upward.

Wang Xiang, fund manager of the Index and Quantitative Investment Department of Bosera Fund, believes that the trend of gold is significantly stronger than expected, and the volatility of gold assets may remain at historical highs for a long time. At the same time, against the background of rising volatility of global financial assets, the Fed's easing policy will support gold prices to maintain a stable trend.

Among all commodities, gold is one asset that maintains a long-term upward slope. In terms of allocation, investors are advised to hold 10% of gold in their total assets and use this as the center for allocation, so that they can balance risk prevention and gain returns.

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