金荣中国：美第二个季度GDP上修，金价冲高无果陷入震荡

Market Overview - International gold closed with fluctuations on September 25, with an opening price of $3741.03 per ounce, a high of $3761.48, a low of $3717.46, and a closing price of $3735.82 [1] Economic Data - Initial jobless claims in the U.S. for the week ending September 20 recorded 218,000, lower than the market expectation of 235,000 and previous value of 232,000 [3] - The final annualized quarterly GDP for Q2 in the U.S. was reported at 3.8%, exceeding the market expectation of 3.3% and the previous value of 3.3% [3] - The final quarterly personal consumption expenditures (PCE) for Q2 was 2.5%, higher than the market expectation of 1.7% and previous value of 1.6% [3] - The final annualized core PCE price index for Q2 was 2.6%, above the market expectation of 2.5% and previous value of 2.5% [3] - Analysts noted that the decline in jobless claims indicates limited layoffs despite a cooling labor market, with companies opting to retain employees [3] Federal Reserve Insights - Federal Reserve's Daly suggested that further rate cuts may be necessary over time, indicating that tariffs have had a more significant impact on the labor market than on inflation [4] - The current economic conditions in the U.S. are described as good, with the Fed needing to monitor inflation closely while also watching for signs of labor market weakness [4] Geopolitical Situation - European diplomats warned the Kremlin that NATO is prepared to respond to further airspace violations by Russia, indicating heightened tensions in the region [5] Gold ETF Holdings - The largest gold ETF, SPDR Gold Trust, maintained its holdings at 996.85 tons, unchanged from the previous day [6] Market Sentiment and Technical Analysis - The gold price experienced fluctuations, with a high of $3751 and a low of $3729 during the day, indicating a short-term consolidation phase [9] - The daily moving averages suggest a bullish trend, while short-term indicators show signs of fatigue in the upward movement [9] - Trading strategies recommend cautious high short and low long positions due to the current market conditions [10]