Understanding the Market | Gold Stocks Rise Across the Board, Fed Starts Rate Cut Cycle, Long-term Gold Price Still Has Room to Rise
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Gold stocks generally rose, with China Gold International up 4.19%, Zhaojin Mining up 3.88%, and Zijin Mining up 2.84%. Spot gold rose by over 1%, closing at $2586.56 per ounce. The Federal Reserve has started an interest rate cut cycle, cutting rates by 50 basis points, with good economic data performance. Huatai Securities believes that the impact of interest rate cuts on gold prices is limited, expecting gold prices to fluctuate at high levels in the short term, and in the long term, the trend of the U.S. economy and the election after the interest rate cut will drive gold prices higher
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