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中信建投:多因素驅動金價上行 黃金股修復在即
中信建投研報稱,COMEX黃金回踩3000美元整數關口後一騎絕塵,再次刷新歷史價格記錄,短期主要的價格驅動是特朗普反覆無常的關稅政策催生的濃厚避險需求,特朗普政策的不確定性支撐着金價。此外,美聯儲處於降息週期中,長期通脹居高難下,實際利率的下行趨勢爲金價注入新的動力。更重要的是,全球經濟體從合作走向對抗,全球央行購金爲本幣背書的行爲還在持續。多因素驅動金價上行,黃金股修復在即。
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