Group 1 - The core viewpoint is that gold and silver prices are experiencing a sustained increase due to rising geopolitical risks and expectations of interest rate cuts by the Federal Reserve, with gold reaching a historical high of 860 CNY per gram and silver at 10,397 CNY per kilogram [1] - The Federal Reserve's anticipated interest rate cuts are seen as a primary driver for gold and silver prices, alongside ongoing geopolitical tensions, particularly in the Middle East, which are elevating global risk aversion [1][2] - Central banks globally continue to maintain a net buying stance on gold, with a net increase of 10 tons in official gold reserves, and China's central bank increasing its reserves by 1.7 tons, marking ten consecutive months of growth [2] Group 2 - The market sentiment remains optimistic for precious metals in the medium to long term, although there are indications of potential technical corrections due to recent price surges [1][3] - Investors are advised to adopt a cautious approach during the upcoming National Day holiday, with recommendations to hold a small number of gold positions while liquidating silver holdings [1][3] - The recent inflow of 5.5 billion USD into global physical gold ETFs indicates a renewed interest from investors in North America and Europe, despite a negative shift in demand from Asia [2]
黄金、白银期货价格持续走高 机构提示长假持仓风险
Zheng Quan Shi Bao·2025-09-25 02:34