Sou Hu Cai Jing·2025-09-03 16:44Market Performance - On September 3, A-shares showed mixed performance with the Shanghai Composite Index down 1.16%, Shenzhen Component Index down 0.65%, and the ChiNext Index up 0.95% [1] - The precious metals sector led the gains, with Western Gold hitting the daily limit and Zhaojin Gold rising nearly 7% [1] Gold Price Trends - Gold futures in New York reached a historic high, surpassing $3600, while spot gold prices exceeded $3540 per ounce [2] - Domestic gold jewelry prices also increased, with major brands reporting prices above 1050 yuan per gram, such as Chow Tai Fook at 1053 yuan and Chow Sang Sang at 1056 yuan [3][5] Market Dynamics - The rise in gold prices is attributed to expectations of a Federal Reserve rate cut, strong foreign central bank demand, and increased market risk aversion due to political and economic uncertainties [6][7] - Morgan Stanley's report indicates that the gold price is supported by multiple factors, including the anticipated Fed rate cuts and a weakening dollar, with a year-end target of $3800 per ounce [7] Digital Gold Initiative - The World Gold Council is planning to pilot a digital gold form next year, which could transform the $900 billion physical gold market in London [9] - This initiative aims to standardize the digital aspect of gold, allowing it to be used as collateral and for margin requirements, potentially increasing its market reach [10]