Zhi Tong Cai Jing·2025-09-01 02:04Group 1 - Gold stocks have shown significant gains, with China Silver Group rising by 10.64% to HKD 0.52, and other companies like Zhaojin Mining and Shandong Gold also experiencing notable increases [1] - On September 1, spot gold prices reached USD 3,450, influenced by political tensions surrounding the Federal Reserve and deteriorating U.S. non-farm employment data, which are seen as strong bullish catalysts for gold prices [1] - JPMorgan forecasts that gold prices could reach USD 3,675 per ounce by the end of the year, with a potential rise to USD 4,000 per ounce by early next year [1] Group 2 - Huaxi Securities highlights that rising tariffs are impacting the U.S. economy, leading to increased consumer concerns about inflation, which may create favorable conditions for a potential interest rate cut and subsequent depreciation of the dollar [2] - In a high-inflation environment, interest rate cuts are likely to drive up gold prices, benefiting from global monetary and debt concerns [2] - The passage of the "Big and Beautiful" bill is expected to increase the U.S. fiscal deficit by USD 3.4 trillion, which is anticipated to positively impact future gold prices and enhance profit expectations for gold resource stocks [2]