Macro News - The Shanghai gold futures price is reported at 860.00 CNY per gram, with an increase of 1.03%, opening at 861.34 CNY per gram, reaching a high of 862.10 CNY and a low of 853.74 CNY [1] - The preliminary value of the US September S&P Global Manufacturing PMI is 52, matching expectations but down from the August final value of 53. The Services PMI preliminary value is 53.9, and the Composite PMI preliminary value is 53.6, both below expectations and marking a three-month low [1] - Federal Reserve Chairman Jerome Powell indicated that many indicators, such as stock prices, are currently overvalued, but he stated that it is not a time of high financial stability risk. He did not provide any hints regarding potential interest rate cuts in the upcoming October meeting, disappointing the market [1] Institutional Views - There is some internal disagreement within the Federal Reserve regarding potential interest rate cuts for the remainder of the year, but the newly appointed member supports continued rate cuts. The next Federal Reserve Chair is expected to lean towards the accommodative stance of the Trump administration, leading to market optimism about two rate cuts this year [2] - The risk of a government shutdown in the US has increased due to the rejection of funding proposals. Global political risks remain, particularly with several countries supporting Palestinian statehood, which may suppress risk appetite [2] - Short-term volatility risks in stock markets, including China, are rising, potentially leading to changes in investment direction. The favorable performance of precious metals may attract more investment [2]
大有期货：利好扎堆 贵金属涨势延续
Jin Tou Wang·2025-09-24 09:41