Jin10 data reported on September 2, driven by expectations of interest rate cuts and geopolitical tensions, gold futures continued to rise after reaching a historical high on Monday. Currently, the trading price of gold futures is around $3547, with a daily rise of 0.88%, peaking at $3557.10 per ounce during the session. FxPro analyst Alex Kuptsikevich noted in a research report that macroeconomic and geopolitical news continues to be Favourable Information for precious metals, with reports indicating that India is actively selling U.S. government bonds and increasing its gold reserves. He also stated that the lack of progress in Russia-Ukraine peace negotiations has also boosted safe-haven demand. Kuptsikevich mentioned that a more noticeable Favourable Information factor in the short term is the market's rising expectations for a Fed interest rate cut in September. However, he cautioned investors to remain prudent when participating in this round of gold price rise, as historical peaks often trigger large-scale profit-taking, as happened in April this year.
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Gold prices continue to rise, analysts remind to beware of the risk of profit-taking at high levels.
Jin10 data reported on September 2, driven by expectations of interest rate cuts and geopolitical tensions, gold futures continued to rise after reaching a historical high on Monday. Currently, the trading price of gold futures is around $3547, with a daily rise of 0.88%, peaking at $3557.10 per ounce during the session. FxPro analyst Alex Kuptsikevich noted in a research report that macroeconomic and geopolitical news continues to be Favourable Information for precious metals, with reports indicating that India is actively selling U.S. government bonds and increasing its gold reserves. He also stated that the lack of progress in Russia-Ukraine peace negotiations has also boosted safe-haven demand. Kuptsikevich mentioned that a more noticeable Favourable Information factor in the short term is the market's rising expectations for a Fed interest rate cut in September. However, he cautioned investors to remain prudent when participating in this round of gold price rise, as historical peaks often trigger large-scale profit-taking, as happened in April this year.