Since August, after months of adjustments, international gold prices have once again reached a high level. COMEX gold futures prices rose 7.17% cumulatively from August 3 to 7, the biggest weekly increase since January this year. Since then, the price of gold continued to rise. It once rose to 4509.1 US dollars/ounce on August 13, a record high in nearly two months, but profits rebounded thereafter. Market participants believe that the main reason for this round of gold rebound is the marked weakening of US employment data and further easing of inflationary pressure, which has cooled the market's expectations of the Fed's interest rate hike. At the same time, central banks around the world continue to increase their gold holdings, which also supports the allocation demand for gold prices. However, many institutions believe that the price of gold is now close to the phased resistance zone, and medium- to long-term support is still stable, but further evolves from a strong rebound to a trend increase, and we still need to wait for more conditions to be confirmed.

Since August, after months of adjustments, international gold prices have once again reached a high level. COMEX gold futures prices rose 7.17% cumulatively from August 3 to 7, the biggest weekly increase since January this year. Since then, the price of gold continued to rise. It once rose to 4509.1 US dollars/ounce on August 13, a record high in nearly two months, but profits rebounded thereafter. Market participants believe that the main reason for this round of gold rebound is the marked weakening of US employment data and further easing of inflationary pressure, which has cooled the market's expectations of the Fed's interest rate hike. At the same time, central banks around the world continue to increase their gold holdings, which also supports the allocation demand for gold prices. However, many institutions believe that the price of gold is now close to the phased resistance zone, and medium- to long-term support is still stable, but further evolves from a strong rebound to a trend increase, and we still need to wait for more conditions to be confirmed.