News

According to Jinse Finance, during intraday trading on September 2, the spot gold price in London reached a peak of $3,508.69 per ounce, while the COMEX gold futures price surged to a high of $3,578.4 per ounce, both setting new historical records. As of press time, international gold prices have slightly retraced. Since the beginning of this year, gold-themed funds have performed remarkably well, with the best returns exceeding 65%. In addition, gold-themed ETFs have seen a net capital inflow of over 58 billion yuan this year, with a total scale surpassing 160 billion yuan, representing a growth of more than 126% compared to the end of last year. Industry insiders indicate that the current combination of high interest rates and high debt has led to extremely high interest costs on U.S. government debt, and the credit crisis of U.S. Treasury bonds and the U.S. dollar still persists. Central bank gold purchases continue, suggesting that gold may still be on the path of a new cycle.

U.S. August ISM Manufacturing PMI at 48.7, vs. 49 expected and 48 prior.