過去一年，由於地緣政治的不確定性、对股價高企的不安以及各國央行的置入，黄金格大幅上漲。金價已升至 3000美元，達到許多華爾街预测人士設定的 2025 年的目標價位。特朗普的關税威看引發了对美感通脹重新抬頭的擔憂，並放缓了增長预期，促使投資者轉向避險資產。黄金市場将消化或正常化特朗普驅動的貿易風險。如果貿易緊張局勢沒有持續升级，金價将難以在下半年保持進一步的上行勢頭。

Gold Futures Break Through$3,000 per Ounce for the First Time

OVER THE PAST YEAR,GOLD PRICES HAVE RISEN SHARPLY DUETO GEOPOLITICAL UNCERTAINTIES,UNEASE OVER HIGH STOCKPRICES,AND PURCHASES BY CENTRAL BANKS AROUND THEWORLD.THE GOLD PRICE HAS RISEN TO $3.000. REACHINGTHE TARGET PRICE FOR 2025 SET BY MANY WALL STREET FORECASTERS.TRUMP'S TARIFF THREATS HAVE RAISED CONCERNSABOUT A RESURGENCE OF INFLATION IN THE UNITED STATESAND SLOWED GROWTH EXPECTATIONS,PROMPTING INVES-TORS TO TURN TO SAFE-HAVEN ASSETS.THE GOLD MARKETWILL DIGEST OR NORMALIZE THE TRADE RISKS DRIVEN BYTRUMP.IF TRADE TENSIONS DO NOT CONTINUE TO ESCALATE,IT WILL BE DIFFICULT FOR THE GOLD PRICE TO MAINTAIN FURTHER UPWARD MOMENTUM IN THE SECOND HALF OF THEYEAR.