Core Insights - The price of gold has reached historic highs, with London gold spot prices exceeding $3,791.08 per ounce and COMEX gold futures hitting $3,824.6 per ounce, driven by multiple factors including U.S. Federal Reserve's monetary policy shift [1][2] Group 1: Market Performance - On September 23, London gold spot prices recorded a daily increase of 1.21% and a monthly increase of approximately 8.7% [1] - COMEX gold futures saw a peak daily increase of 1.31% and a monthly increase of about 7.6% [1] - Domestic gold jewelry prices have also risen, with brands nearing 1,100 yuan per gram, as evidenced by Chow Tai Fook's price of 1,098 yuan per gram [1] Group 2: Influencing Factors - The primary driver of rising gold prices is the expectation of a global easing cycle following the Federal Reserve's decision to cut interest rates by 25 basis points on September 18 [1][2] - Geopolitical tensions and military conflicts have led to increased safe-haven investments in gold, contributing to its price surge [2] - The sensitivity of gold to global liquidity and inflation, along with strong demand from central banks, particularly China's continuous gold purchases, are significant factors in the price increase [2][3] Group 3: Future Outlook - Analysts predict that gold prices will continue to rise in the short term due to technical corrections, monetary easing, and worsening geopolitical conditions [3] - The expectation is that gold prices may challenge yearly highs as long as the Federal Reserve maintains a loose monetary policy and the U.S. continues its fiscal expansion [3] - Investment strategies suggested include phased buying of gold ETFs and shares of gold mining companies, while cautioning against high-leverage products for average investors [3][4]

Market Overview - The Shanghai Composite Index increased by 1.40% to 3472.32 points, and the CSI 300 Index rose by 1.54% to 3982.2 points as of July 4 [2][4] - The SW Nonferrous Metals Industry Index saw a gain of 1.03%, closing at 5147.33 points [2][4] Sub-industry Performance - Among the five sub-industries in the nonferrous metals sector, the changes were as follows: Industrial metals +1.46%, Precious metals +0.96%, Minor metals -0.18%, Energy metals +1.00%, and Metal new materials +0.41% compared to the previous week [2][4] Key Metal Prices - Key metal prices on the Shanghai Futures Exchange were as follows: Copper at 79,730 CNY/ton (-0.01%), Aluminum at 20,635 CNY/ton (+0.29%), Zinc at 22,410 CNY/ton (-0.07%), Lead at 17,295 CNY/ton (+0.58%), Nickel at 122,270 CNY/ton (+1.36%), and Tin at 267,250 CNY/ton (-0.92%) [3] - Gold and silver prices were reported at 777.06 CNY/gram (+0.90%) and 8,919 CNY/kilogram (+1.24%) respectively [3] - COMEX gold and silver prices were 3,426 USD/ounce (+4.20%) and 36.78 USD/ounce (+1.11%) respectively [3] Investment Insights - The U.S. Senate passed a revised "Big Beautiful Bill" which is expected to increase the deficit significantly, raising concerns about the U.S. dollar's credit system [4][5] - The anticipated expansion of debt may lead global central banks to increase gold reserves, providing long-term support for gold prices [4] - Recent disruptions in copper transportation in Peru due to protests have affected supply, while U.S. market dynamics are expected to create structural shortages in global copper supply [4][5] - The price gap between COMEX and LME copper has widened, with LME copper reaching a peak of 10,010 USD/ton [5]