Spot gold tops $4,330 as market awaits Fed rate decision

CommodityMacroDigital Finance
โดย Eastmoney·GLOBAL·Read original
Summary · why it matters

In Asian trading on September 16, spot gold surged, breaking above $4,330 per ounce with an intraday gain of more than 1%. The Bosera Gold ETF, which tracks the AU9999 index, rose nearly 1%; as of September 15, it had gained 11.27% over the past year, with its latest shares outstanding reaching 4.75 billion, a one-month high, and net inflows over the past seven days totaling 245 million yuan. The Federal Reserve's FOMC will announce its rate decision and summary of economic projections at 2 a.m. Beijing time on Thursday, followed by a monetary policy press conference by Fed Chair Warsh. According to CME FedWatch data, the market is pricing in a 95% probability of a 25-basis-point rate hike this week, and the probability of a December hike has risen to 70%. Zheshang Securities said that an earlier Fed rate hike could help block the transmission of inflation from energy to downstream sectors, and the bar for further hikes will rise significantly going forward. If a hike is delivered in September, it may actually help improve forward liquidity expectations at the margin, and the firm is bullish on gold allocation opportunities.

Impact on stocks 2

Others▲ · 2 stocks
Zheshang Securities Co Ltd
601878
± Mixedrelevance

Zheshang Securities is cited only for its analyst view that a September Fed hike could improve forward liquidity and that it is bullish on gold allocation; no company-specific development.

Off-coverage companies 1

Bosera Asset Management Co., Ltd.Private▲ Positive
Monetaryrelevance

Bosera's gold ETF rose nearly 1% and saw strong net inflows as spot gold surged ahead of the Fed decision.

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