Zhi Tong Cai Jing·2025-08-21 00:13Group 1 - Gold prices have surged as market participants seek safe-haven assets amid declining stock prices of major tech companies, with spot gold reaching around $3,350 per ounce [1] - The anticipation of a potential interest rate cut by the Federal Reserve in September has contributed to the rise in gold prices, with futures traders estimating a nearly 90% chance of a 25 basis point cut [4] - Major banks like Goldman Sachs and Morgan Stanley have shifted their outlooks, with Goldman predicting gold could reach $4,000 per ounce by mid-2026 due to strong central bank demand and ETF inflows [5][7] Group 2 - The recent deterioration in U.S. non-farm payroll data is seen as a strong catalyst for rising gold prices, with Morgan Stanley projecting a target price of $3,675 per ounce by year-end and potentially reaching $4,000 per ounce early next year [7] - Citigroup has revised its three-month gold price forecast from $3,300 to $3,500 per ounce, citing a significant decline in economic growth outlook and inflation concerns [6] - The overall sentiment in the market is leaning towards bullish for gold, driven by fears of economic slowdown and expectations of a dovish shift in Federal Reserve policy [2][3]