The Federal Reserve decided at its July FOMC meeting to keep the federal funds rate target range unchanged at 3.5% to 3.75%, marking the fifth consecutive hold this year. Following the announcement, yields on the US 10-year and 2-year Treasuries fell, and spot gold surged, trading around 4,080 dollars per ounce in early Asian trading on July 30. Boosted by this, the Bosera Gold ETF opened higher, rising 0.88% to a latest price of 8.45 yuan. As of July 29, the ETF had gained a cumulative 13.92% over the past year. In terms of fund flows, the Bosera Gold ETF saw net inflows for 10 consecutive days, attracting a total of 394 million yuan, with an average daily net inflow of 39.39 million yuan. CITIC Futures noted that market bets on a Fed rate hike in September have declined, with the first hike now expected to be pushed back to March 2027. Coupled with renewed hostilities in the Middle East driving up oil prices, inflation concerns remain in focus.
Lanzhou Huanghe Enterprise Co LtdFed holds rates steady, boosting gold prices and the ETF