CICC Wealth Futures: Under the AI siphoning effect, gold still faces liquidity pressure, which remains the main reason for its weakness.

Gold Finance reported that on June 30, Israel unilaterally announced it would launch military operations against Lebanon, but the impact on crude oil prices was limited. U.S. stocks rebounded sharply, while gold remained weak. Currently, central bank purchases of gold are still the underlying support for gold demand, but this is a slow variable—adequate for support but insufficient for driving prices higher. At present, gold prices have the highest correlation with the size and inflows/outflows of gold ETFs. Under the influence of AI-driven capital absorption, gold still faces liquidity pressure, which remains the main reason for its weakness.
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