blackdiamondcasino80freespins| The price of gold fluctuates greatly. What is the value of gold financial management?

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The international price of gold once again hit an all-time high.

On May 20, both London gold and COMEX gold opened high. as of press release, the price of London gold remained at 2441.Blackdiamondcasino80freespins.90 US dollars / oz high, COMEX gold quoted 2442.8 US dollars / oz. Prior to April, international gold prices experienced sharp fluctuations, the net value of a number of "gold" wealth management products fell significantly from the previous high, wealth management companies gradually slowed down the layout of "gold +" products.

In the eyes of industry insiders, the current round of gold price rise is related to the Fed's monetary policy and global geopolitics. under the dual attributes of commodities and risk aversion, gold prices are expected to continue to rise in the future, but we should also be on guard against the risk of the Federal Reserve delaying interest rate cuts. drive gold prices back.

Gold volatility linked to "gold-containing" financial management

Since the beginning of this year, gold prices have risen 18.55 per cent, surpassing the 17 per cent increase in the first half of 2020.

However, gold suffered a roller coaster in April. London gold fell to $2300 an ounce on April 23 and fell again to a monthly low of $2291.265 an ounce the next day, down about $140from the month's high of $2431.780.

The net worth of wealth management products linked to gold also experienced fluctuations. Market data show that the annualized return of "Beijing Bank Jinghua Vision Chunmou Dingying No. 1" issued by Beiyin Financial Management was 6.84% on May 17, but the product had an annualized return of more than 8% the previous month. Another "fixed income + gold" wealth management product issued by CMB Financial Management, which aims to strengthen the fixed income of Yingzhengjin No. 3, has a highest annualized rate of return approaching 7% in April and has fallen to 3.8% as of May 17. Since the establishment of the "focus linkage firmly into gold binary bullish products" issued by China Bank Financial Services, the annualized yield has exceeded 11% (Jin Kirin analyst) since its establishment on April 15, and fell back to 4.24% on May 17.

Dong Cuihua, a researcher at Puyi Standards, pointed out that financial products linked to gold increase with the fluctuation risk of the gold market, and short-term returns fluctuate more obviously. from the perspective of the whole market, compared with financial products linked to gold ETF and gold options, wealth management products linked to gold spot are more easily affected by fluctuations in the gold market.

Recently, the issuance speed of wealth management products with gold layout has also slowed down. Since May, only Zhaobin, Minsheng and Ping an have issued gold-linked wealth management products, according to China Financial Management Network. However, on the whole, the issuance style of products has not changed much from that of previous months. Most of the new products linked to gold in the financial management market are structural financial products, which are still based on fixed income assets, and the proportion of gold assets is mostly below 10%. The risk level is low. For example, Minsheng Finance issued on the 15th of the "Maozhu fixed gold to enhance the half-year holding period", for the fixed income category, R2 risk level, annualized performance benchmark 3.0%-4.5%.

Looking back, Wind data show that in the first four months of this year, there were 23 net worth bank wealth management products linked to gold in the wealth management market, with a wide range of performance benchmarks, with an upper limit of 10 per cent and a general lower limit of 0.01 per cent / 2 per cent. Market data show that as of May 17, the net value of the above products are more than 1 yuan, the overall performance is slightly better than the pure solid income products. On the whole, according to the statistics of Minsheng Bank, as of the end of April, the annualized rate of return of the representative products of "fixed income + gold" so far this year is 7.82%, exceeding the annualized rate of return of 3.99% of pure solid income and 3.94% of solid income plus category in the same period.

Dong Cuihua further explained that since the beginning of this year, financial institutions have accelerated the issuance of gold wealth management products, mostly with bonds as bottom assets, and financial derivatives such as gold ETF and over-the-counter options linked to gold will not exceed 10%. Can better cope with short-term gold price fluctuations in the market, get a better return on investment.

In addition to the attribute of low-wave returns, wealth management products linked to gold assets are also seen by investors as risk-averse tools. "products linked to gold can meet investors' demand for risk aversion to a certain extent." Qu Ying, a researcher at Puyi Standards, believes that with the increase of uncertainty in the global economy, investors' attention to risk control is increasing.Blackdiamondcasino80freespinsAt the same time, gold-linked wealth management products may be a good choice for investors in the context of inflation.

During the visit, the reporter learned that under the background of falling deposit interest rates, many residents who choose to transfer their funds to the financial management market choose to configure gold-linked financial products in order to avoid risks. Lesser Fullness of Grain (a pseudonym), who lives in Minhang District, Shanghai, told reporters: "if you want to buy low-wave and steady wealth management products, but also want to get a certain income, the value preservation property of gold itself meets the demand. The wealth management products purchased in March got a good return. They were sold before the price of gold fell in April, and consider buying them back this month."

Warburg Securities said in the report that for investors accustomed to banking channels, "gold" wealth management products can also be used as a relatively safe way to participate in gold investment at the current time. Because this kind of products are usually designed to provide principal protection for investors and participate in the potential rise in gold prices, most of the products adopt OBPI (option-based portfolio insurance) strategy.

Gold prices are driven up by factors such as central bank purchases and geopolitics.

The international gold price surged above 2400 US dollars per ounce today and has once again aroused market concern. Whether the "gold-containing" wealth management products can have outstanding performance in the future is closely related to the future gold market. A number of institutional personages believe that it is still possible for international gold prices to break out of a new high of US $2500 / oz in the future.

Looking forward to the future, Liu Tingyu, manager of Yongsheng gold stock ETF fund, believes that "gold may still have upward space." Central bank purchases that have had a major impact on gold prices in the past two years are expected to continue. Gold is expected to continue to rise as the global central bank enters a cycle of monetary easing, rising debt of major countries, and global geographical disturbances (such as conflicts in the Middle East and elections in major countries).

The unabated buying by central banks is seen as a favorable factor for the strength of gold prices. Official data revealed that the world's official gold reserves increased by 290 tons in the first quarter of 2024, of which the people's Bank of China continued to buy 27 tons in the first quarter. According to the World Gold Council, the central bank's gold buying trend is expected to continue in the next five years.

In addition, global geopolitical uncertainty enhances the monetary attributes of gold and also provides strong support for gold prices. An analyst at a large futures company in Zhejiang told reporters that political conflicts in the Middle East have resurfaced recently, global uncertainty has intensified, and coupled with the background of falling energy prices and ultra-core inflation, market expectations for future interest rate cuts have warmed up again, and gold prices are expected to remain volatile and upward. trend.

Many industry insiders have given predictions that gold prices are expected to exceed US$2500/ounce in the future. Previously, UBS's strategic analysis team predicted that gold would rise to US$2300/ounce in June, and raised its forecast for the end of 2025 and the end of March to US$2500/ounce.

"There are still certain conditions to break through US$2500/ounce." The aforementioned analyst told reporters that the pace of U.S. monetary policy from tight to loose and the space for interest rate cuts have become important logic for gold's safe-haven premium. In this context, the safe-haven nature of gold will gradually become prominent. The current US$2400/ounce level has fully released market expectations. If U.S. economic data triggers market speculation that the Federal Reserve will delay interest rate cuts in the future, the price of gold may usher in a correction.

Industry insiders remind that we should be more cautious in deploying gold-linked wealth management products at current points. Chen Xuanjin, a researcher at Puyi Standards, believes that gold prices are affected by many factors, such as the global economic situation, monetary policy, geopolitics, etc., which may cause gold prices to fluctuate significantly in the short term, resulting in the net value of gold-related wealth management products with underlying assets. Volatility is large, thus increasing investors 'investment risks. Several analysts have also warned that the performance of the gold market was unexpected. Gold, once regarded as a "safe haven", has become an asset with large fluctuations. As an investment product, there may be greater risks in the short term. Gold-related investments must be cautious.