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Chances of Correction in Gold Prices Increase – TDS
Gold Price Trading Close to Its All-time High – Commerzbank
Prospects of interest rate cuts boost the price of gold, and gold bulls cheer.
According to the CFTC data, net long positions in gold have reached the highest level in over four years. UBS Group predicts that by the fourth quarter of this year, the price of gold will rise to $2600, while Citigroup predicts that it will rise to $3000 by next year.
Gold Extends Rally as Geopolitical Risks Boost Haven Demand
With the interest rate cut confirmed in September, will metals start a new round of upward trend?
The market has responded more positively to Powell's dovish remarks at the JH meeting on Friday.
Will gold continue to rise tonight after re-entering the $2500 mark? The industry is focusing on the Jackson Hole Annual Meeting, and gold is expected to continue to push higher.
① Once the annual meeting hints at a 50bp rate cut, the usd may continue to weaken, while gold and US stocks are expected to continue to rise; ② Based on the average performance of gold in the past ten years, gold prices tend to strengthen initially after the Jackson Hole meeting starts; ③ Recently, gold has been on a continuous uptrend, with a significant increase in COMEX net long positions and global gold ETF inflows providing support for gold prices.
