金荣中国：现货黄金扩大涨幅，并再次创造新的历史高点

Fundamental Analysis - The price of spot gold reached a new historical high of $3508.74 per ounce, driven by increasing global economic uncertainty and strong expectations for a Federal Reserve rate cut this month [1][3] - On September 1, spot gold surged to over a four-month high, peaking at $3489.78 per ounce, closing at $3476.08 per ounce, reflecting investor sentiment towards a potential 25 basis point rate cut by the Federal Reserve [1][3] - The CME FedWatch tool indicates a 90% probability of a rate cut this month, with expectations of cumulative cuts of about 100 basis points by fall 2026, influenced by dovish comments from San Francisco Fed President Mary Daly [1][3] Dollar Influence - The continuous decline of the US dollar has been a key catalyst for the rise in gold prices, with the dollar index hitting a five-week low of 97.52 and closing at 97.66, down approximately 0.17% [3] - The dollar has accumulated a decline of 2.2% as a result of a court ruling deeming many of Trump's tariff measures illegal, which has weakened the dollar's strong position [3] Global Political Risks - Political uncertainty in Europe, particularly with rising support for populist and far-right parties in the UK, France, and Germany, has further supported gold and silver prices [3][4] - The potential for political instability due to the inability to address immigration and cost of living issues has raised market concerns, contributing to a flight to safe-haven assets like gold [4] Market Sentiment - The strong performance of gold is attributed to a combination of Federal Reserve rate cut expectations, a weakening dollar, trade policy changes, and global political risks, enhancing the appeal of precious metals as safe-haven assets [4] - Traders are expected to focus on upcoming US employment data this week, which may influence market sentiment [4] Technical Analysis - The daily chart indicates that gold prices are approaching previous historical highs, suggesting potential for further upward movement if the $3500 level is breached [6] - Short-term trading strategies suggest attempting long positions in the range of $3485-$3490, with targets set around $3520-$3535 [7]