Gold Hits Successive Record Highs Ahead of Expected Fed Rate Cut
Gold Hits Successive Record Highs Ahead of Expected Fed Rate Cut
Traders were also weighing two US data points released Thursday that showed an uptick in applications for unemployment benefits, and a slight rise in August's producer price index, although the categories that feed into the Fed's preferred inflation gauge were muted. (Bloomberg) -- Gold rose to a record high, building on a surge of nearly 2% on Thursday, as the dollar extended declines ahead of a widely expected Federal Reserve rate cut next week.
黃金價格創下歷史新高，上週四大漲近2%，因美元在全球普遍預期的聯儲局下週減息前再度走軟。
Bullion climbed as much as 0.5% to $2,570.10 an ounce on Friday, putting it on track for a weekly gain of almost 3%. The precious metal made a new high in the previous session after the euro rose against the greenback, as investors pared bets that the European Central Bank, which lowered rates on Thursday, would cut again next month.
黃金本週上漲近3%，最高漲至2570.10美元/盎司，此前一天歐元兌美元上揚，投資者減少了對下月歐洲央行再次減息的預期。
Gold has surged by around a quarter this year, supported by the Fed's path to monetary easing. Central-bank buying and strong haven demand due to conflicts in the Middle East and Ukraine have helped the advance. Interest from retail investors is also picking up.
今年黃金價格已經上漲了約四分之一，得到了聯儲局貨幣寬鬆政策的支持。央行購買和中東、烏克蘭等地衝突引發了避險需求，也對黃金價格產生了推動作用。零售投資者的興趣也在逐漸增加。
Traders were also weighing two US data points released Thursday that showed an uptick in applications for unemployment benefits, and a slight rise in August's producer price index, although the categories that feed into the Fed's preferred inflation gauge were muted.
交易商們也在權衡上週四公佈的兩個美國數據，顯示失業救濟申請有所增加，8月生產者物價指數略有上升，儘管作爲聯儲局首選通脹指標的各類指數的漲幅較小。
The PPI data has left "some room for the Fed to consider more aggressive cuts ahead," said Jun Rong Yeap, a market strategist with IG Asia Pte. "The push to yet another record high reinforces the broader upward trend in place for the yellow metal." Gold's breakout from its range leaves $2,670 an ounce as "the projected price target," he said.
IG Asia Pte.的市場策略師Jun Rong Yeap表示，PPI數據爲聯儲局考慮更激進減息留出了"一些空間"。他還說，黃金價格再度突破區間，將給出"2670美元/盎司的預期價格目標"。
Investors closing out bearish wagers on gold may have also contributed to the metal's ascent. Money managers' gross short positions in Comex gold futures stood at the highest in four weeks in the week ending Sept. 3, according to the latest data.
據最新數據顯示，投資者對Comex黃金期貨的淡仓在9月3日結束的一週達到了四周以來的最高水平，這可能也對金屬價格的上漲起到了貢獻作用。
"Gold's being used more as a hedge in the portfolio right now," said Chris Weston, head of research at Pepperstone Group Ltd. He pointed to Thursday's weak labor market report as an indication that fund managers may view gold as a place to park money in case the US economy takes a turn for the worse, which would further boost prices.
Pepperstone Group Ltd.的研究主管Chris Weston表示，目前黃金更多地被用作投資組合中的避險工具。他指出，上週四公佈的勞動力市場報告表明，基金經理們可能會將黃金視爲存放資金的選擇，以防美國經濟出現逆轉，這將進一步推高黃金價格。
Spot gold rose 0.4% to $2,567.42 at 11:39 a.m. in Singapore. The Bloomberg Dollar Spot Index fell 0.2%, adding to losses in the previous session. Silver and platinum climbed, while palladium edged lower.
新加坡時間上午11:39，現貨黃金上漲0.4%，至2567.42美元/盎司。彭博美元指數下跌0.2%，繼續下挫。白銀和鉑金上漲，而鈀金下跌。
2024 Bloomberg L.P.
2024年彭博社萬維網（有限合夥企業）。
