Core Viewpoint - The current gold market is influenced by multiple factors including Federal Reserve monetary policy, geopolitical tensions, supply and demand fundamentals, technical analysis, and recent market changes, leading to frequent fluctuations and uncertainty regarding future price movements [7]. Group 1: Federal Reserve Monetary Policy - The market anticipates two more interest rate cuts from the Federal Reserve this year, which could weaken the dollar and strengthen gold prices, similar to the surge from $1500 to over $2000 per ounce during the 2020 monetary easing [3]. Group 2: Geopolitical Tensions - Ongoing global geopolitical conflicts are driving demand for gold as a safe-haven asset. Historical data shows that gold prices can rise significantly during periods of heightened conflict, as seen with a 10% increase at the onset of the Russia-Ukraine conflict [4]. Group 3: Supply and Demand Fundamentals - The demand for gold typically increases during traditional festivals in India and significant domestic events, providing long-term support for prices. Additionally, limited growth in global gold mining output could lead to supply shortages, further pushing prices upward [5]. Group 4: Technical Analysis - Current technical support for domestic gold is around 918 CNY per gram, with international gold showing support near $3972 per ounce. If these levels hold, there is a higher probability of price increases, while breaking these support levels may require caution from investors [6]. Group 5: Market Changes - Recent tax policy changes encourage regulated market purchases of gold, leading to significant price fluctuations, such as a jump in Shandong gold bars from 913 CNY to 1231 CNY per gram. Additionally, banks are adjusting their gold business operations, which may impact gold prices directly or indirectly [7].
今日金价913元/克!黄金市场暗流涌动,更大行情要来了?
Sou Hu Cai Jing·2025-11-04 07:22