According to Jinshi, Minsheng Securities Research Report pointed out that the Fed's interest rate cut is about to take effect, and gold prices have hit new highs recently. In the medium and long term, the weakening of the US dollar's credit will push the center of gold prices upward.
The latest economic data showed that the US CPI rose 2.5% year-on-year in August, and the core CPI rose 3.2% year-on-year, in line with market expectations. The month-on-month increase was 0.3%, higher than the expected 0.2%.
In the employment market, the non-farm data in August was lower than expected, and the data for June and July were revised down. Although the core CPI in August exceeded expectations, the interest rate cut is about to start, and Minsheng Securities is optimistic about the long-term bull market opportunity of gold prices.