尽管人们对央行今年将大幅降息的信心减弱，但黄金在投资者中依然大放异彩

黄金现货价格（GC=F）已上涨至每盎司2,354.20美元，徘徊在历史高位附近，这意味着自2024年初以来金价目前已上涨超过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.

周三金价继续上涨，仍接近历史高位，交易者等待美联储政策会议纪要和通胀数据，以获取有关美国未来利率走势的新信号。

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

现货黄金 (GC=F) 交易价格为每盎司 2,354.20 美元，而美国黄金期货上涨 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.

其他贵金属中，白银 (SI=F) 上涨 0.8%，至每盎司 45.13 美元，而铂金 (PL=F) 上涨 0.3%，至每盎司 1,486.04 美元。钯金 (PD=F) 下跌 0.1%，至 3,224.73 美元。

Why are gold prices going up?

黄金价格为何上涨？

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

黄金传统上被视为困难时期的避风港，以及对冲通胀的工具。

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.

受美国降息预期、地缘政治紧张局势和中国经济困境的推动，贵金属自2月中旬以来创下了创纪录的涨幅。

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，期货交易商已将美联储今年降息幅度的押注降至10月以来的最低水平。

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

交易员目前预计今年美国利率下调幅度将少于三季度，低于 1 月份预计的最多六次降息。

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，高利率会削弱持有无收益黄金的吸引力，但贵金属迄今为止一直忽视这些因素。

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黄金储备，中国央行在3月份连续第17个月购买黄金作为储备。

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

景顺(Invesco)首席全球市场策略师克里斯蒂娜·胡珀(Kristina Hooper)表示，对美国债务的担忧可能会推动一些人转向贵金属。

“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.

“然后是对美国债务和美国财政状况长期不可持续性的担忧。这似乎导致一些央行以牺牲美国国债为代价增加持有量，”她表示。

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

美国银行分析师在一份报告中表示，到 2025 年，金价可能会上涨至每盎司 3,000 美元。

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

如果我投资 100 英镑购买黄金，现在我会拥有多少钱？

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

鉴于黄金的避险地位，贵金属本来是存放资金的安全选择。

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 英镑黄金，那么您现在将拥有 121 英镑。然而，尽管贵金属上涨，如果您将同样的 100 英镑投入比特币（BTC-USD），那么今天您将拥有 396 英镑。

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.

令人惊讶的是，这种商品的表现也与加密货币一样好。可可 (CC=F) 上涨了约 270%，这将使您获得 373 英镑。

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.

亚马逊（AMZN）和苹果（AAPL）这两家七巨头股票的表现也将优于黄金。然而，他们的记录显示，大多数投资者可能会接受更大的波动性，就像比特币的情况一样。

How do I invest in gold?

我如何投资黄金？

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.

黄金属于另类投资类别，之所以如此命名，是因为它们通常被定义为传统投资资产（如债券和股票）的替代品。它们可以是从艺术品到房地产、对冲基金投资、黄金和黄金基金以及数字资产的任何东西。

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

对于那些想要保护自己的投资组合免受市场不确定性影响的人来说，值得考虑黄金。

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.

任何人都可以投资金条和金币形式的实物黄金。据英国皇家造币厂记录，去年购买金条的投资者增加了 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，通过交易所交易基金（ETF）或交易所交易商品（ETC）产品投资黄金可能更容易、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.

另一种方法是投资金矿公司的股票，当您投资企业而不是纯粹投资贵金属时，这应该会为您带来股息。

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

下面我们就来看看这三种黄金投资方式。

Should you buy gold coins or bullions?

您应该购买金币还是金条？

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.

当我们想到贵金属时，这可能是我们脑海中的第一个图像：金条或金币。如果您走这条路，您就是在投资实物金属。

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.

金币是一种受欢迎的选择，但主要是针对收藏家，因为您将为可能无法收回的设计支付溢价。然而，随着时间的推移，一些硬币变得更受收藏家青睐，因此这一策略可能会得到回报。

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.

如果您不介意黄金的美学价值，那么直接的方法就是购买一根铸造金条。如果你从皇家造币厂购买，500 克的售价为 30,565 英镑。

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.

不过，您也可以从小块开始，2.5 克的巧克力棒售价约为 170 英镑。不管你得到什么，让你的纯度都在99以上。