智通财经网·2025-09-17 05:35Group 1 - Gold stocks continue to decline, with Lingbao Gold down 5.51% at HKD 15.79, China Silver Group down 4.9% at HKD 0.485, Chifeng Jilong Gold down 3.96% at HKD 29.62, and Zijin Mining down 2.79% at HKD 28.56 [1] - Comex gold futures have surpassed USD 3700, reaching a new historical high, with JPMorgan forecasting spot gold prices to exceed USD 4000 per ounce by Q1 2026 [1] - JPMorgan indicates that if the independence of the Federal Reserve is compromised, investor capital rotation could push gold prices to USD 5000 within two quarters [1] Group 2 - The biggest risk to gold prices is a significant reduction in central bank gold purchases, which could challenge the sustainability of the price increase if prices rise too high [1] - Cathay Securities notes that the US August CPI met expectations, and a weakening job market is leading to increased expectations for interest rate cuts, positively impacting precious and industrial metal prices [1] - As the September monetary policy meeting approaches, the market is awaiting guidance from the Federal Reserve on future interest rate cuts, while ongoing US-China negotiations may amplify metal price volatility [1]