突发！国际金价高位跳水，再度开启“过山车模式”，后市怎么走？

Core Viewpoint - International gold prices have experienced significant volatility, with recent fluctuations leading to a drop of over $40 from daily highs, indicating a "roller coaster" trend in the market [1]. Price Movements - As of September 10, the spot gold price fell to $3625.62 per ounce, while COMEX gold dropped to $3659.6 per ounce, reflecting a decrease of 0.61% [1][3]. - On September 9, spot gold prices surged, reaching a historical high of over $3660 per ounce, with COMEX gold briefly exceeding $3700 per ounce [4]. Market Influences - The recent rise in gold prices is attributed to expectations of interest rate cuts, which have weakened the US dollar, alongside ongoing geopolitical tensions and central bank gold purchases [7]. - The US labor market's weakness, as indicated by disappointing non-farm payroll data and a slight increase in unemployment rates, has shifted market focus towards potential Federal Reserve rate cuts, further supporting gold prices [8]. Investment Trends - Domestic gold ETFs have seen significant inflows, with several products achieving historical highs in market performance. Notably, three gold ETFs reported over 70% net value growth in the past year [9]. - The total scale of gold ETFs in the market has approached 160 billion yuan, with the largest ETF reaching 59.606 billion yuan [9]. Future Outlook - Analysts suggest that gold prices may continue to rise in the short term, driven by safe-haven demand and expectations surrounding Federal Reserve monetary policy. Long-term projections indicate a potential increase in gold price levels due to ongoing central bank purchases [10]. - Goldman Sachs forecasts that gold prices could reach $4000 per ounce by 2026, with extreme scenarios suggesting prices could approach $5000 per ounce if a small percentage of private US debt holdings shift to gold [10].