机构看金市：9月23日

Core Viewpoint - The recent surge in gold prices is attributed to dovish comments from Federal Reserve officials and increasing geopolitical risks, leading to expectations of heightened volatility in the gold market this week [1][2]. Group 1: Market Analysis - Gold prices rose by 2% to reach a new high, influenced by dovish remarks from Fed officials, particularly from the aggressive dovish stance of Milan, who suggested a continued rate cut at 50 basis points [1]. - The market sentiment remains optimistic due to geopolitical tensions, particularly regarding the recognition of Palestine by several countries and Israel's aggressive stance [2]. - The expectation of increased volatility in gold prices is anticipated this week, especially with upcoming speeches from Fed Chair Powell and the latest core PCE inflation data [2]. Group 2: Investment Sentiment - Despite the high gold price of $3,700, there are no compelling reasons to short gold, as it remains a dominant monetary asset in global financial markets [3]. - Central banks are expected to continue purchasing gold due to diminishing confidence in the US dollar, driven by the US government's push for significant rate cuts amid rising inflation pressures [3]. - The current market environment is described as a "perfect storm" for gold and silver, with increasing appeal for safe-haven assets amid political divisions in the US and escalating tensions between NATO and Russia [3].