Expectations of rate cuts and strong demand drive gold prices to continue to soar, with gold surpassing the $3,780 mark.
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最新报道：According to Coinnet, gold prices climbed to a new high of $3,780 per ounce on Tuesday as market expectations for further US interest rate cuts grew. Investors awaited Federal Reserve Chairman Powell's speech early this morning for further policy signals. US gold futures for December delivery reached $3,800. Newly elected Federal Reserve Governor Milan called for a significant rate cut on Monday. Independent analyst Ross Norman said, "Milan's dovish stance undoubtedly reinforces expectations for a deeper rate cut. The US government appears intent on pursuing this process, which is bullish for gold." Norman added, "Gold is currently experiencing strong demand from institutional investors who may be shifting funds out of the stock market, which has likely peaked, and demand is also strong in India." Premiums for physical gold in India rose to a 10-month high this week. Despite record prices and the approaching holiday season, investors continued to actively buy gold, betting on further gains. Norman also stated that in the short term, gold price trends depend on whether Indian demand can be sustained and whether the increase in ETF holdings is stable. The world's largest gold ETF, SPDR Gold Trust, saw its holdings return to 1,000 tons on Monday.
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