Understanding the Market | Gold stocks opened higher collectively as risk aversion and interest rate cut expectations resonate, with international gold prices hitting a new historical high
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Gold stocks opened higher collectively, with TONGGUAN GOLD rising 5.24%, CHIFENG GOLD rising 5.08%, and ZHAOJIN MINING rising 4.4%. Influenced by risk aversion and expectations of interest rate cuts by the Federal Reserve, international gold prices have reached a new historical high, with New York futures gold surpassing $3,600 per ounce. The market is focused on the upcoming non-farm payroll data, and Morgan Stanley has set a year-end target price for gold at $3,800 per ounce, emphasizing the negative correlation between gold and the US dollar
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