bonanzafreeslot| Hua 'an Fund: The central bank has purchased gold for 18 consecutive months, and gold has stabilized and rebounded

Review and main viewpoints of the Z gold market:

Gold stabilized and rebounded last week. Spot gold in London closed at 2360Bonanzafreeslot.22 USD / oz (2 / 2 / week)Bonanzafreeslot.53%), the opening price of domestic AU9999 after the gold festival is 556.34 yuan / g (cycle ratio 1.93%). The interest rate on US debt was unchanged at 4.5%, compared with 4.7% at the end of last month.BonanzafreeslotThe high position has eased somewhat. This week focuses on Wednesday's disclosure.BonanzafreeslotCPI data of the United States.

The people's Bank of China has bought gold for 18 months in a row, and the logic of de-dollarization by global central banks continues. China's central bank reported 72.8 million ounces of gold reserves by the end of April 2024, up 60, 000 ounces from 72.74 million ounces at the end of March, according to the latest data released by the central bank on May 7. This is also the beginning of the current round of gold reserve increase by the central bank since November 2022, which has increased for 18 consecutive months by April 2024, with a total increase of 10.16 million ounces.

Looking forward to the future, Huaan Fund Index and quantitative Investment Department holds a neutral and optimistic attitude towards the investment value of gold. Short-term dimension, gold experienced an early pullback, trading risk has been reduced. In the fundamental dimension, the overall weakness of US economic indicators and the dovish interest rate meeting in May have led to a fall in high US bond interest rates, which is conducive to the logic of gold pricing. Looking forward to the whole year, CME data show that the Federal Reserve is expected to start the interest rate cut cycle in September, and is optimistic about the allocation value of gold as the central bank's "de-dollarization" in the medium and long term.

Signals that Gold ETF (518880) will focus on in the coming week: (1) US CPI inflation in April; (2) US retail sales.

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