According to the Zhitong Finance app, the price of gold soared to a historic high on Thursday. Data shows that Comex gold futures for September rose 1.5% to $2,551.20 per ounce, reaching a new high since August 16th in terms of both daily dollar and percentage increase. At the same time, Comex silver futures for September rose 4.1% to $29.743 per ounce, reaching the highest settlement price since August 27th. Gold and silver prices have risen 23.7% and 24.7% respectively this year.

Data released on Thursday showed that seasonally adjusted initial jobless claims in the US increased slightly by 0.02 million to 0.23 million. Inflation data, including the US August CPI data released on Wednesday and the US August PPI data released on Thursday, remains consistent with a slowdown in inflation.

Traders expect that after this week's data shows a slowdown in the US economy, the frequency of rate cuts by the Federal Reserve may increase. Alex Ebkarian, Chief Operating Officer of precious metals trader Allegiance Gold, said, "We are heading towards a lower interest rate environment, so gold is becoming more attractive." He expects that the Federal Reserve "may have more frequent rate cuts rather than larger ones."

Ole Hansen, Head of Commodity Strategy at Saxo Bank, said, "The European Central Bank's interest rate cut, a slight increase in US initial jobless claims, and PPI data and other factors are enough to push the gold price to a new high." Phillip Streible, Futures Strategist at Blue Line Futures, also commented, "The job market remains weak. If the job market worsens, the rate cut journey will continue for a long time."

The rise in gold and silver prices on Thursday also lifted precious metal stocks. Data shows that Coeur Mining (CDE.US) rose 19.1%, Caledonia Mining (CMCL.US) rose 6.6%, Hecla Mining (HL.US) rose 8.8%, Iamgold (IAG.US) rose 8.3%, Kinross Gold (KGC.US) rose 6.8%, New Gold (NGD.US) rose 9.2%, and Vista Gold (VGZ.US) rose 6.5%.

Analysts said that after the release of US PPI data, the price of gold surpassed $2,550, hitting a new high. However, optimistic market risk sentiment has suppressed investors' enthusiasm for safe-haven assets. Currently, the long-term trend for gold is bullish, and the price of gold has reached the bullish target of $2,550, opening the way for the next target of $2,570 and is expected to go higher.

Michael Armbruster, Co-founder of Altavest, said, "The fact that the gold price has reached a new high does not mean it cannot go higher." He pointed out that US government spending is "beyond record levels and shows no signs of slowing down." Meanwhile, a recent survey shows that central banks around the world are increasing their allocation to gold and reducing their allocation to the US dollar. Michael Armbruster pointed out that the US federal government has a deficit of trillions of dollars, asking, "If forced to choose, will foreign central banks choose to invest their reserves in the US dollar or gold?"