Understanding the Market | Gold stocks rise collectively as ADP employment data strengthens expectations for a U.S. rate cut; the market focuses on tonight's non-farm payroll data
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Gold stocks rose collectively, with LINGBAO GOLD up 6.32% and CHINAGOLDINTL up 3.71%. ADP data showed that the U.S. added 54,000 jobs in August, lower than expected, reinforcing expectations for a Federal Reserve rate cut, with the market anticipating a 97.4% chance of a rate cut in September. Goldman Sachs predicts that if the Federal Reserve's credibility is damaged, gold prices could rise to nearly $5,000, recommending long-term investment in gold. CITIC Securities believes that the gold market is influenced by various factors, and gold prices are expected to exceed $3,730 per ounce by the end of the year
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