儘管人們對央行今年將大幅降息的信心減弱，但黃金在投資者中依然大放異彩

黃金現貨價格（GC=F）已上漲至每盎司2,354.20美元，徘徊在歷史高點附近，這意味著自2024年初以來金價目前已上漲超過14%。

Gold prices continued to rise on Wednesday, remaining close to record highs as traders awaited the US Federal Reserve’s policy meeting minutes and inflation data for fresh signals on future US rate path.

週三金價持續上漲，仍接近歷史高位，交易者等待聯準會政策會議紀要和通膨數據，以獲取有關美國未來利率走勢的新訊號。

Spot gold (GC=F) was trading at $2,354.20 per ounce, while US gold futures rose 0.2% to $2,361.40.

現貨黃金 (GC=F) 交易價格為每盎司 2,354.20 美元，而美國黃金期貨上漲 0.2% 至每盎司 2,361.40 美元。

Among other precious metals, silver (SI=F) rose 0.8% to $45.13 per ounce, while platinum (PL=F) gained 0.3% to $1,486.04. Palladium (PD=F) was down 0.1% at $3,224.73.

其他貴金屬中，白銀 (SI=F) 上漲 0.8%，至每盎司 45.13 美元，而鉑金 (PL=F) 上漲 0.3%，至每盎司 1,486.04 美元。鈀金 (PD=F) 下跌 0.1%，至 3,224.73 美元。

Why are gold prices going up?

黃金價格為何上漲？

Gold is traditionally seen as a safe-haven in difficult times, and as a hedge against inflation.

黃金傳統上被視為困難時期的避風港，以及對沖通貨膨脹的工具。

The precious metal has had a record-breaking run since mid-February, boosted by expectations for US rate cuts, geopolitical tensions and China’s economic woes.

受美國降息預期、地緣政治緊張局勢和中國經濟困境的推動，貴金屬自2月中旬以來創下了創紀錄的漲幅。

However, futures traders have reduced bets on how much the US Federal Reserve will cut rates this year to the lowest level since October.

然而，期貨交易商已將今年聯準會降息幅度的押注降至10月以來的最低水準。

Traders now expect fewer than three quarter-point cuts to US interest rates this year, down from up to six cuts expected in January.

交易員目前預計今年美國利率下調幅度將少於三季度，低於 1 月預計的最多六次降息。

Usually, high interest rates dull the appeal of holding non-yielding gold, but the precious metal has been ignoring these factors so far.

通常，高利率會削弱持有無收益黃金的吸引力，但貴金屬迄今一直忽視這些因素。

Some central banks have also been adding to their gold reserves, with China’s central bank purchasing gold for its reserves for a 17th straight month in March.

一些央行也一直在增加黃金儲備，中國央行在3月連續第17個月購買黃金作為儲備。

Kristina Hooper, chief global market strategist at Invesco, said that concerns around the US debt could be pushing some towards the precious metal.

景順(Invesco)首席全球市場策略師克里斯蒂娜·胡珀(Kristina Hooper)表示，對美國債務的擔憂可能會推動一些人轉向貴金屬。

“Then there is the concern about US debt and the long-term unsustainability of the US’ fiscal situation. That seems to have caused some central banks to increase holdings at the expense of US Treasuries,” she said.

「然後是對美國債務和美國財政狀況長期不可持續性的擔憂。這似乎導致一些央行以犧牲美國國債為代價增加持有量，」她表示。

Analysts at Bank of America said in a note that gold could rally to $3,000 per ounce by 2025.

美國銀行分析師在一份報告中表示，到 2025 年，金價可能會上漲至每盎司 3,000 美元。

If I had invested £100 in gold, how much would I have now?

如果我投資 100 英鎊購買黃金，現在我會擁有多少錢？

Given the safe-haven status of gold, the precious metal would have been a safe bet to park your money.

鑑於黃金的避險地位，貴金屬本來是存放資金的安全選擇。

If you put £100 in gold in 2023 you would now have £121. However, despite the precious metal rally, had you put those same £100 in bitcoin (BTC-USD), you would today have £396.

如果您在 2023 年投入 100 英鎊黃金，那麼您現在將擁有 121 英鎊。然而，儘管貴金屬上漲，如果您將相同的 100 英鎊投入比特幣（BTC-USD），那麼今天您將擁有 396 英鎊。

Surprisingly, this one commodity performed also as good as the cryptocurrency. Cocoa (CC=F) is up by around 270%, which would have secured you £373.

令人驚訝的是，這種商品的表現也與加密貨幣一樣好。可可 (CC=F) 上漲了約 270%，這將使您獲得 373 英鎊。

Amazon (AMZN) and Apple (AAPL) shares, two of the Magnificent Seven, would have also outperformed gold. However, their track record shows far more volatility that most investors might be comfortable with, as is the case with Bitcoin.

亞馬遜（AMZN）和蘋果（AAPL）這兩家七巨頭股票的表現也將優於黃金。然而，他們的記錄顯示，大多數投資者可能會接受更大的波動性，就像比特幣的情況一樣。

How do I invest in gold?

我如何投資黃金？

Gold falls under the category of alternative investments, named like that as they are usually defined as alternatives to traditional investment assets, such as bonds and equities. They can be anything from art to property, hedge fund investments, gold and gold funds, and digital assets.

黃金屬於另類投資類別，之所以如此命名，是因為它們通常被定義為傳統投資資產（如債券和股票）的替代品。它們可以是從藝術品到房地產、對沖基金投資、黃金和黃金基金以及數位資產的任何東西。

For those wanting to protect their investment portfolio from market uncertainty, it is worth considering gold.

對於那些想要保護自己的投資組合免受市場不確定性影響的人來說，值得考慮黃金。

Anyone can invest in physical gold in the form of bars and gold coins. The Royal Mint has recorded a 7% increase in investors purchasing gold bullion last year.

任何人都可以投資金條和金幣形式的實體黃金。根據英國皇家造幣廠記錄，去年購買金條的投資者增加了 7%。

However, it might be easier and cheaper to invest in gold through Exchange-traded funds (ETFs) or Exchange-traded commodity (ETC) products.

然而，透過交易所交易基金（ETF）或交易所交易商品（ETC）產品投資黃金可能更容易、更便宜。

Another way to go about it is to invest in shares of gold mining companies, which should get you dividends as you are investing in a business and not purely on the precious metal.

另一種方法是投資金礦公司的股票，當您投資企業而不是純粹投資貴金屬時，這應該會為您帶來股息。

Let's take a look at these three ways to invest in gold.

下面我們就來看看這三種黃金投資方式。

Should you buy gold coins or bullions?

您應該購買金幣還是金條？

It is probably the first image on our mind when we thing about the precious metal: a gold bar or coins. If you go down this route you are investing in the physical metal.

當我們想到貴金屬時，這可能是我們腦海中的第一個圖像：金條或金幣。如果您走這條路，您就是在投資實體金屬。

Gold coins are a popular choice but mostly for collectors as you will pay a premium for the design that you might not get back. However, some coins become more desirable for collectors over time so the gambit could pay off.

金幣是一種受歡迎的選擇，但主要是針對收藏家，因為您將為可能無法收回的設計支付溢價。然而，隨著時間的推移，一些硬幣變得更受收藏家青睞，因此這項策略可能會得到回報。

If you're not bothered by the aesthetic value of gold, the straight way to go about it is to get a cast bar. A 500g will set you back £30,565 if you purchase it from the Royal Mint.

如果你不介意黃金的美學價值，那麼直接的方法就是購買一根鑄造金條。如果你從皇家造幣廠購買，500 克的售價為 30,565 英鎊。

However, you can start smaller, with a 2.5g bar coming in at around £170. Regardless of what you get, make you the purity is above 99.

不過，您也可以從小塊開始，2.5 克的巧克力棒售價約為 170 英鎊。不管你得到什麼，讓你的純度都在99以上。