张尧浠：美联储降息预期日益浓厚、金价月内剑指3535

Core Viewpoint - The expectation for a Federal Reserve interest rate cut is increasing, which is positively impacting gold prices, with a target of reaching $3535 this month [1][6]. Market Performance - On September 1, gold opened at $3448.30 per ounce, dipped to a low of $3436.97, then rebounded to a high of $3489.57, closing at $3476.52, marking a daily increase of $28.22 or 0.82% [3]. - The gold price is expected to maintain a strong upward trend, with a potential target of $3535 if it does not form a bearish reversal pattern [3][9]. Economic Indicators - Upcoming economic data to watch includes the final S&P Global Manufacturing PMI for August, ISM Manufacturing PMI, and July construction spending, which are expected to exert limited downward pressure on gold prices [5]. - Despite recent declines in short-term and long-term inflation expectations, the overall market remains bullish on gold due to global economic uncertainties and rising demand for safe-haven assets [6]. Technical Analysis - Gold has broken through previous horizontal resistance levels, which have now turned into support, indicating a strong bullish momentum [3][9]. - The daily chart shows that gold has been on a five-day upward streak, with the potential to reach the target of $3535 if it maintains its current trajectory [8][9]. Silver Market - For silver, key support levels are identified at $40.25 and $39.80, while resistance levels are at $40.80 and $41.10 [10].