Latest release! Forex reserves increased by 34 billion US dollars in July, and the central bank has suspended gold purchases for three consecutive months.
Affected by macroeconomic data, monetary policy and expectations of major economies, the scale of foreign exchange reserves rose in July 2024, and the People's Bank of China suspended its shareholding of gold for the third consecutive month.
Bullish Momentum On Gold Takes A Long Pause
Huayuan Securities: Continuous bullish on gold sector configuration opportunities under resonance of new and old paradigms and expectations of interest rate cuts.
The new paradigm framework is about to emerge, with strong purchases of gold by the central bank, increasing supply of US currency, and changes in geopolitical situation, the long-term center of gold is expected to continue to rise.
Gold Moves Lower as the Dollar and Treasury Yields Rise After Monday's Market Turmoil
Gold Extends Losses After Sharp Slide; Analyst Sees Positive Macro View
Gold: A Revisit of the $2400/oz Range Can Spark a Sell-off – TDS
Gold Price Holds Steady Above $2,400 Mark Amid Mixed Fundamental Cues
Metals Commodities, Related Stocks Plunge as Global Market Turmoil Spreads
Gold: An Acute Risk of a Widespread Deleveraging Event – TDS
Gold Dips on Weak U.S. Jobs Report but Analysts See More Record Highs Ahead
Gold Taps Fresh All-time Highs as Weak U.S. Jobs Data Raise Recession Fears
Gold Hits Fresh Record, Topping $2,500 an Ounce
Is gold hedging an asset or a liability?
Looking to the future, if the price of gold continues to rise, a significant portion of the current total hedge position will become a liability for the company. Rolling over or settling some or all hedge contracts will become a more common phenomenon.
Debon Securities: Interest rate cut expectations boost gold price prospects to $2,600.
The estimated price for gold in the first quarter of 2024 is expected to be $2694.3 per ounce. As the calculation process of gold prices involves variables that change relatively slowly in the short term, the current price target for gold can still be referenced at $2600 per ounce.
Gold Prices Rise on Fed Rate Cut Hopes
This Just Isn't the Same Gold Market as a Few Months Ago – TDS
Powell Doves + Middle East Tensions Gold Sets New Historic High on Wednesday's Closing.
The most active gold futures in trade rose on Wednesday and reached a historic high at the close, due to the increased tensions in the Middle East and the signal of a rate cut from the Federal Reserve.
Northeast Securities: Interest rate reduction transactions are nearing the end, with short-term fluctuations in gold prices and long-term value configuration highlights.
In the short term, interest rate cuts still have some trade value, but they are also nearing the end. Before the market finds new trading directions, there may be a stage of logic vacuum. At the same time, Harris' candidacy may add uncertainty to the election, thereby affecting Trump's trade. The short-term volatility of gold prices may increase.
Middle East tensions have triggered a safe-haven demand, and gold has surged to nearly historical highs at $2400.
Boosted by safe-haven demand, gold futures soared on Tuesday.
Gold Rallies to Approach Record High After Israel Strikes Beirut