Market Overview - International gold prices experienced fluctuations and closed higher on October 23, with an opening price of $4036.99 per ounce, a high of $4154.66, a low of $4023.26, and a closing price of $4141.85 [1] Economic Indicators - The U.S. Transportation Secretary Sean Duffy warned that the ongoing government shutdown, now in its fourth week, is causing significant disruptions to flights across the country, with delays increasing from 5% to over 50% due to air traffic controller shortages [3] - The U.S. Consumer Price Index (CPI) for September is expected to show a growth rate similar to August, with core CPI likely reaching 0.3% month-over-month, and both overall and core CPI year-over-year close to 3.0%, exceeding the Federal Reserve's target of 2.0% [5] Commodity Analysis - JPMorgan analysts maintained a bullish outlook on gold, predicting an average price of $5055 per ounce by Q4 2026, based on sustained investor demand and central bank purchases averaging 566 tons [4] - The analysts highlighted that the upcoming Federal Reserve rate cuts, concerns over stagflation, and risks of currency devaluation create a favorable environment for gold [4] Geopolitical Developments - President Trump indicated a potential escalation in actions against drug trafficking from Venezuela, suggesting ground operations may be next, which could heighten tensions between the U.S. and Venezuela [6] - Ukrainian President Zelensky emphasized that any territorial exchanges with Russia are unacceptable and called for increased pressure on Russia before negotiations can begin [7] Technical Analysis - Gold prices are currently showing a short-term upward trend, with the market stabilizing above the 60-day moving average, although there are indications of potential resistance at higher levels [10] - The trading strategy suggests cautious engagement with both long and short positions, reflecting the volatility in the market ahead of the CPI data release [11]
金荣中国：美国9月CPI数据公布在即，金价触底反弹震荡走高
Sou Hu Cai Jing·2025-10-24 01:43