Jin10 data May 7 news, Galaxy Securities released a research report stating that in Q1 2025, global gold ETF net inflow was 226 tons, a significant rise compared to the net inflow of 18.7 tons in the fourth quarter of last year; global Central Bank net gold purchases in Q1 2025 were 244 tons, consistent with the quarterly average level of the past three years, and the gold purchase trend remains strong. The economic recession and stagflation risks exacerbated by the U.S. tariff increases, combined with uncertainties from U.S.-China trade frictions and geopolitical risks, will drive global gold ETF funds and global Central Banks to continue purchasing gold, and the logic for long-term rise in gold prices remains unchanged. It is recommended to allocate to the gold zone during pullbacks.