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Looking At Newmont's Recent Unusual Options Activity
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.
UBS: The market is gradually adapting to the gold price of $2500, and there is still room for increased allocation in the future.
UBS Group expects that as the Federal Reserve begins to cut interest rates, the holding cost of gold will decrease, leading to further inflow of funds into gold ETFs. Seasonal demand will drive the physical demand for gold in China and India to rebound. In addition, central banks around the world are still buying gold, and emerging market central banks still have room to increase their shareholding of gold.
Newmont Corporation Closes in the Green for Its Eighth Straight Session
The dollar is on the ground, gold is soaring, will the price reach $3000 next year? The RMB's surge suppressed domestic gold prices, and whether it will continue to appreciate remains to be seen.
The USD index once fell to a level below 101.3, close to the low point in half a year; while London gold was reported at $2,519 per ounce, which has risen by 22.14% since the beginning of the year. China's domestic gold has not reached a high point in sync, the analysis shows that this is due to the recent appreciation of the RMB being offset. If Trump takes office and imposes tariffs on China, expectations of further depreciation of the RMB and resurgence of carry trades may be revived.
The momentum is not slowing down! Spot gold prices hit a high of $2526, and futures prices also set a new record.
① The spot price of gold suddenly surged more than $20, reaching a high of $2526.22 per ounce, once again hitting a historical high on Friday; ② The CME Group's "FedWatch" tool shows that the median prediction is that "25 basis points + 25 basis points + 25 basis points" is the most likely cut path for the bank this year.