A research report by China Securities Co.,Ltd. points out that the recent anticipation of a rate cut by the Fed in September has heated up, leading to gold breaking through $2500. A rate cut is favorable for gold prices, but the market has already traded quite fully. Instead, there may be a risk of 'buying expectations, selling facts.' Gold is somewhat overbought at the current $2500 position, and it is suggested for short-term high-level swing trading, with the fluctuation range between $2300-2500. There is limited room for further increase by the end of the year.
中信建投:黄金短期建议高位波段交易,2300-2500美元区间震荡
China Securities Co.,Ltd. suggests short-term high-level swing trading in gold, oscillating in the range of $2300-2500.
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