Core Viewpoint - The article emphasizes the increasing interest in spot gold as a liquid and low-entry asset among market investors, particularly beginners, highlighting the importance of selecting a safe and reliable trading platform for gold transactions [1]. Group 1: Recommended Trading Platforms - Leading Gold Trading Platform: Lingfeng Precious Metals is recognized as a top platform with AA class membership from the Hong Kong Gold Exchange, offering compliant trading options for gold and silver, advanced trading systems, and strong fund protection measures [4]. - Reliable Platform for Beginners: Huangyu Precious Metals, also an AA class member, is noted for its fast deposits and withdrawals, smooth trading experience, and strong customer service, making it suitable for novice investors [5]. - Diverse Financial Products: Lingfeng Global provides a variety of financial products, including spot gold and silver, and offers free access to relevant market information, catering to new investors interested in international gold trading [6]. Group 2: Additional Notable Platforms - Global Leader: Gain Capital is recognized for its strong global customer base and regulatory framework, providing rich educational resources for new investors to understand the gold market [7]. - Flexible Trading Tools: Hong Kong First Gold offers flexible trading tools and low fees, gaining popularity among new investors for its excellent customer service [8]. - Stable Trading Environment: Futu Precious Metals is chosen by many international investors for its stable trading system and global service network, supporting flexible trading methods suitable for beginners [9]. Group 3: Key Features for Safe Trading - Essential Trading Safety: The article outlines key characteristics to consider when selecting a gold trading platform, including platform qualifications, safety, trading costs, tools, and customer service speed, which directly impact trading fluidity and fund security [14].

Core Viewpoint - The unexpected decline in gold prices following the Federal Reserve's interest rate cut highlights the complexities of market behavior, where textbook theories do not always apply [3][12]. Group 1: Market Reactions - The Federal Reserve lowered the federal funds rate by 25 basis points to a target range of 4%-4.25%, which typically supports gold prices [3]. - Following the rate cut, international gold prices fell from over $3700 per ounce to around $3650 per ounce, while domestic gold futures also saw a significant drop [3]. - This phenomenon of "good news turning bad" is reminiscent of the "slow bull fast adjustment" pattern observed in the A-share market [3][4]. Group 2: Behavioral Insights - The market often exhibits counterintuitive behavior, as seen in past instances where gold prices rose after initial interest rate hikes [3][12]. - Retail investors frequently misinterpret market signals, leading to premature selling during corrections and chasing prices during rallies [4][8]. - The concept of "herding behavior" among retail investors can create opportunities for larger institutional players to offload positions [5]. Group 3: Long-term Trends - The long-term bullish outlook for gold is supported by significant data, including record central bank purchases of gold and a shift towards de-dollarization [12][13]. - Industrial demand for silver is also on the rise, particularly due to its applications in solar energy [12]. - The importance of quantitative analysis in understanding market dynamics is emphasized, as it helps investors navigate emotional traps and market noise [12][14].

Group 1 - The price of gold reached a record high of $3,636 per ounce on September 16, marking the 29th time this year it has set a new historical peak, with the market fully pricing in a 100% probability of a 25 basis point rate cut by the Federal Reserve in September [1] - From August 26 to September 3, gold prices recorded seven consecutive days of gains, breaking through the $3,500 mark, with COMEX gold futures surging by $142 in a week, the largest weekly increase in four months [2] - The People's Bank of China has increased its gold reserves for the tenth consecutive month, adding 60,000 ounces to reach 7.402 million ounces by the end of August, while global gold ETF holdings have also reached new highs, with SPDR holdings surpassing 964 tons, exceeding the April record [2] Group 2 - UBS has raised its price target for gold to $3,800 by the end of 2025, suggesting that if U.S. core inflation declines faster than expected, gold prices could test $3,900 by mid-2026 [4] - Historical data indicates that gold prices typically rise by an average of 8% to 12% within 90 days following the Federal Reserve's first rate cut, suggesting that the current price of $3,600 is merely a psychological barrier rather than a terminal point [4] Group 3 - The company offers a low entry threshold for new investors, allowing them to start trading with as little as 100 RMB, enabling profit from both rising and falling markets [5] - The trading platform provides fast execution with millisecond-level transaction speeds through both computer and app interfaces, allowing for immediate profit-taking and withdrawals [6] - The company offers comprehensive live teaching sessions with over 15 instructors available to guide new traders on various topics, ensuring that even beginners can understand the trading process [6]

Core Viewpoint - The article emphasizes the rising opportunities in gold trading as prices reach historical highs, highlighting the importance of a reliable partner like Huangyu Precious Metals for investors [1]. Group 1: Company Credentials - Huangyu Precious Metals holds the AA-class license as a member of the Hong Kong Gold Exchange, showcasing its top-tier trading qualifications and gaining global investor trust [1]. - The company adheres to strict regulatory standards and employs advanced encryption technology to ensure the safety of client funds, which are independently managed by third-party institutions [3]. Group 2: Trading Platform Features - The platform specializes in spot gold trading, offering a minimum deposit of $10 and supports various deposit methods including UnionPay and wire transfers [3]. - Huangyu Precious Metals utilizes the internationally recognized MT4 trading software, enabling T+0 trading for gold and silver, and providing tools for real-time market analysis and technical indicators [3]. Group 3: Customer Support and Services - The company provides 24/7 customer service to assist investors with inquiries and issues, ensuring smooth transaction processes regardless of market changes [3][4]. - Huangyu Precious Metals aims to deliver a professional trading experience, helping both novice and experienced traders capture market signals effectively [4]. Group 4: Market Opportunities - The article notes that the bullish trend in gold prices continues, presenting fleeting opportunities for wealth accumulation, and encourages investors to engage with Huangyu Precious Metals to capitalize on these trends [4].

Group 1 - The core viewpoint of the article indicates that as of September 18, 2023, the prices of London spot gold and silver have started to rise, while COMEX gold and silver prices continue to decline following a 25 basis point interest rate cut by the Federal Reserve [1] Group 2 - The Federal Reserve announced a 25 basis point interest rate cut at 2 AM Beijing time on September 18, which led to a simultaneous decline in the prices of gold, silver, and copper futures in both domestic and international markets [1]

Group 1 - The core viewpoint of the news highlights the rising gold prices driven by geopolitical tensions, particularly the escalating conflict between Israel and Palestine, which has heightened investor demand for safe-haven assets like gold [2] - The gold T+D closing price on September 17 was 837.99 yuan per gram, reflecting an increase of 3.05 yuan or 0.37%, with a daily high of 839.5 yuan and a low of 835.2 yuan, indicating a slight upward trend following international market movements [1] - The New York Fed manufacturing index fell to -8.7, marking the first contraction since June, which raises concerns about the U.S. economy and further drives investors towards gold as a hedge against economic uncertainty [2] Group 2 - Technical analysis indicates that gold T+D has resistance between 830-850 yuan per gram and support between 794-830 yuan per gram, with a potential rise to 840 yuan if it breaks above 830 yuan [3] - The market is closely monitoring the upcoming U.S. retail sales data for August, as consumer spending accounts for about 70% of the U.S. economy; disappointing data could enhance gold's appeal as a safe-haven asset [2]

Report Industry Investment Rating - Not provided in the report Core View - The weak performance of US employment data in August, the flat year-on-year rate of core CPI in the consumer inflation, and Trump's continuous pressure or replacement of Fed officials have led more Fed officials to support interest rate cuts. The market expects the Fed to cut interest rates by 25 basis points in September, October, and December. Coupled with geopolitical risks such as the Russia-Ukraine conflict and the continuous gold purchases by central banks of many countries, precious metal prices are likely to rise and difficult to fall [1] Summary of Related Catalogs Market Data - **Shanghai Gold Futures**: On September 16, 2025, the closing price was 829.72 yuan/gram, with a trading volume of 9,882.00 and an open interest of 208,096.00. The inventory remained unchanged at 53,226.00 (in ten grams) [1] - **Spot Shanghai Gold T+D**: On September 16, 2025, the closing price was 829.72 yuan/gram, with a trading volume of 9,882.00 and an open interest of 208,096.00 [1] - **COMEX Gold Futures**: On September 16, 2025, the closing price was 3,677.60 US dollars/ounce, with a trading volume of 220,410.00 and an open interest of 385,580.00. The inventory was 39,180,931.12 (in gold ounces) [1] - **London Gold Spot**: On September 16, 2025, the price was 3,632.65 US dollars/ounce [1] - **SPDR Gold ETF Holdings**: On September 16, 2025, the holdings were 979.95 tons [1] - **iShare Gold ETF Holdings**: On September 16, 2025, the holdings were 464.57 tons [1] - **Shanghai Silver Futures**: On September 16, 2025, the closing price was 10,017.00 yuan/kilogram, with a trading volume of 356,647.00 and an open interest of 195,504.00 [1] - **Spot Shanghai Silver T+D**: On September 16, 2025, the closing price was 10,017.00 yuan/kilogram, with a trading volume of 356,647.00 and an open interest of 195,504.00 [1] - **COMEX Silver Futures**: On September 16, 2025, the closing price was 43.19 US dollars/ounce, with a trading volume of 63,715.00 and an open interest of 134,910.00. The inventory was 518,898,317.13 (in silver ounces) [1] - **London Silver Spot**: On September 16, 2025, the price was 42.69 US dollars/ounce [1] - **US iShare Silver ETF Holdings**: On September 16, 2025, the holdings were 15,137.37 tons [1] - **TPSLV Silver ETF Holdings**: On September 16, 2025, the holdings were 6,129.64 tons [1] Important Information - Milan has been confirmed as a Fed governor and will participate in this week's interest rate decision. The US Court of Appeals rejected Trump's request to remove a Fed governor, and Cook is allowed to attend this week's interest rate decision [1] - US House Republicans proposed a short-term spending bill to avoid a government shutdown, but ignored the Democrats' healthcare requirements. US retail sales in August increased by 0.6% month-on-month, exceeding expectations for three consecutive months, and real retail sales have increased for 11 consecutive months [1] Trading Strategy - The main strategy is to go long when prices fall. For London gold, pay attention to the support level around 3,400 - 3,500 and the resistance level around 3,750 - 3,840. For Shanghai gold, pay attention to the support level around 800 - 810 and the resistance level around 840 - 850. For London silver, pay attention to the support level around 39 - 40 and the resistance level around 43 - 46. For Shanghai silver, pay attention to the support level around 9,500 - 9,700 and the resistance level around 10,300 - 10,500 [1]

Core Viewpoint - Recent rumors about multiple gold merchants in Shenzhen's Shui Bei area going bankrupt and closing operations have caused concern among industry participants and investors, but investigations reveal that most businesses are operating normally [1][2]. Group 1: Industry Situation - Reports indicated that over ten gold merchants in Shui Bei suddenly closed, affecting more than a hundred downstream wholesale merchants who are struggling to recover pre-paid funds [1]. - A visit to the Shui Bei gold market showed bustling activity, with most merchants, including those listed in the rumors, continuing normal operations, except for a few like Yue Bao Xin, which has temporarily ceased operations [1][2]. Group 2: Company Specifics - Yue Bao Xin, a smaller company in the Shui Bei area, was found to have its premises sealed by property management, indicating a localized issue rather than a widespread industry crisis [1]. - The Shenzhen Gold and Jewelry Association confirmed that the majority of businesses mentioned in the rumors are still operating normally and that the situation has been exaggerated online [2]. Group 3: Regulatory Response - The association stated that law enforcement is involved in addressing issues with specific companies, and affected merchants are encouraged to pursue legal avenues for recourse [2]. - Investors are advised to rely on verified information and make informed decisions regarding precious metal investments, acknowledging the inherent market risks [2].

Core Insights - The precious metals market saw significant gains on Monday, with gold and silver performing particularly well [1] - Spot gold rose by 1.04% to $3681.17 per ounce, breaking the previous historical high set on September 9 [1] - COMEX gold futures increased by 0.93% to $3720.70 per ounce, also surpassing the prior intraday record [1] Gold Market - Spot gold traded at a daily low of around $3640 before climbing to $3685.64 [1] - The trading range for COMEX gold futures was between $3662.80 and $3724.90 [1] - The Philadelphia Gold and Silver Index closed up 1.78%, reaching a new closing high of 277.84 points [1] Silver Market - Spot silver increased by 1.31% to $42.7390 per ounce, approaching the 2011 peaks of $44.2175 and $49.8044 [1] - COMEX silver futures for December rose by 0.92% to $43.225 per ounce [1] Other Precious Metals - COMEX copper futures for December rose by 1.53% to $4.2180 per pound [1] - Spot platinum increased by 0.74% to $1407.25 per ounce, while spot palladium decreased by 0.48% to $1194.62 per ounce [1]

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Viewpoints - In the short - term, after the weakening of the US employment market in August and relatively controllable inflation pressure in August, the preliminary value of the University of Michigan Consumer Confidence Index in September hit a new low since May, which supports the market to continue trading the Fed's interest - rate cut expectations and boosts the strong rise of precious metal prices. Concerns about US economic stagflation are rising, boosting the industrial properties of silver. Before the interest - rate cut in September, precious metal prices are still supported and expected to remain strong at high levels, but volatility may intensify. Key events to watch this week include the Fed's August FOMC meeting and China - US economic and trade talks [6]. - In the long - term, due to the Fed's interest - rate cut expectations, continuous global geopolitical uncertainties, intensified great - power competition, and the de - dollarization wave with continuous gold purchases by global central banks, the long - term center of gold prices is likely to continue to rise [6]. 3. Summary by Relevant Contents 3.1 Price Tracking - On September 12, 2025, compared with September 11, 2025, London gold spot rose 0.5% to $3650.31/ounce, London silver spot rose 2.4% to $42.04/ounce, COMEX gold rose 0.5% to $3688.50/ounce, COMEX silver rose 2.6% to $42.60/ounce, AU2510 rose 0.4% to 834.22 yuan/gram, AG2510 rose 2.4% to 10035 yuan/kg, AU (T + D) rose 0.4% to 830.68 yuan/gram, and AG (T + D) rose 2.5% to 10010 yuan/kg [5]. - Regarding price differences, from September 11 to 12, 2025, the gold TD - SHFE active price difference increased by 7.9%, the silver TD - SHFE active price difference decreased by 10.7%, the gold internal - external (TD - London) price difference increased by 31.8%, the silver internal - external (TD - London) price difference increased by 0.9%, the SHFE gold - silver ratio decreased by 2.0%, the COMEX gold - silver ratio decreased by 2.0%, the AU2512 - 2510 price difference increased by 20.4%, and the AG2512 - 2510 price difference increased by 13.0% [5]. 3.2 Position Data - From September 11 to 12, 2025, the gold ETF - SPDR position decreased by 0.32% to 974.8 tons, the silver ETF - SLV position remained unchanged at 15069.6026 tons. COMEX gold non - commercial long positions increased by 2.87% to 324875 contracts, non - commercial short positions decreased by 4.72% to 63135 contracts, and the non - commercial net long position increased by 4.89% to 261740 contracts. COMEX silver non - commercial long positions decreased by 2.71% to 72450 contracts, non - commercial short positions decreased by 0.16% to 18513 contracts, and the non - commercial net long position decreased by 3.55% to 53937 contracts [5]. 3.3 Inventory Data - On September 12, 2025, compared with September 11, 2025, SHFE gold inventory increased by 5.58% to 52950 kg, SHFE silver inventory increased by 0.51% to 1246569 kg, COMEX gold inventory increased by 0.01% to 38914491 troy ounces, and COMEX silver inventory increased by 0.55% to 527423230 troy ounces [5]. 3.4 Interest Rate, Exchange Rate, and Stock Market Data - From September 11 to 12, 2025, the US dollar/CNY central parity rate decreased by 0.02%, the US dollar index increased by 0.09%, the 2 - year US Treasury yield increased by 1.14% to 3.56%, the 10 - year US Treasury yield increased by 1.25% to 4.06%, the VIX increased by 0.34%, the S&P 500 decreased by 0.05% to 6584.29, and NYMEX crude oil increased by 0.58% to $62.60 [5]. 3.5 Market Review - On September 12, the main contract of Shanghai gold futures rose 0.1% to 80.68 yuan/gram, and the main contract of Shanghai silver futures rose 2.36% to 10035 yuan/kg [5].