黄金“杀”回来了，突破3500美元/盎司！

Core Viewpoint - Gold prices have surged to new highs, driven by multiple factors including expectations of interest rate cuts by the Federal Reserve, ongoing geopolitical tensions, and increased central bank purchases of gold [1][7][9]. Price Movements - On September 2, London gold reached a peak of $3508.69 per ounce, the highest since April 22, while COMEX gold futures hit a record high of $3578.4 per ounce [2][4]. - As of the latest reports, London gold was trading at $3479.52 per ounce, reflecting a slight increase of 0.12% [2][3]. - COMEX gold futures also showed a minor increase, trading at $3549.9 per ounce, up 0.12% [4]. Market Drivers - The rise in gold prices is attributed to the market's renewed expectations for interest rate cuts by the Federal Reserve, following disappointing U.S. employment data and inflation figures that suggest room for monetary easing [8][9]. - Concerns over the independence of the Federal Reserve, particularly due to political pressures from the Trump administration, have also contributed to a weaker U.S. dollar, further supporting gold prices [8][9]. - Geopolitical risks, particularly the escalation of the Ukraine crisis, have heightened demand for gold as a safe-haven asset [8][9]. Future Outlook - Short-term risks of a significant pullback in gold prices are considered low, with ongoing support from interest rate cut expectations and geopolitical tensions [9][10]. - Long-term projections suggest that the evolving global political and economic landscape, along with challenges to the U.S. dollar's credit system, will continue to support gold prices [9][10]. - The potential for further monetary policy easing by the Federal Reserve, including the possibility of quantitative easing, could reinforce the upward trend in gold prices [10].